‘Multiple crises’ contributed to 0.3% fall in GDP, says national statistics officeBusiness live – latest updatesGermany is on track for its first two-year recession since the early 2000s after its economy shrank in 2023 amid the impact of higher energy costs and weaker industrial demand.The German national statistics office said “multiple crises” affecting the economy had contributed to a 0.3% fall in gross domestic product (GDP) in 2023 from the previous year as higher interest rates and elevated living costs took their toll. Continue reading...

Oil prices slip; UK defence secretary says will ‘wait and see’ on strikes against HouthisHere’s some instant reaction. Oliver Rakau, chief Germany economist at Oxford Economics, tweeted:Claus Vistesen, eurozone economist at Pantheon Macroeconomics, tweeted: Continue reading...

The billionaire husband of 'Baroness Bra' Michelle Mone is preparing to take delivery of a £50 million mega-yacht, sources on the French Riviera say.Read more: Billionaire husband of ‘Baroness Bra’ Michelle Mone taking delivery of new £50M mega-yacht to sail away from PPE storm

They may only be digital dancing queens - and kings - but the four glittery avatars performing every night in front of sell out audiences in east London are pumping serious Money, Money, Money into the capital’s economy.Read more: Money, Money, Money! The Abba effect brings £322M boost to London economy

Rolling coverage of the latest economic and financial news, including the latest UK GDP reportUK grew by 0.3% in November, led by services and productionBut construction sector shrankThe 0.2% drop in construction output in November was driven by falling housebuilding activity, Grant Fitzner explains.The UK economy received a boost from Black Friday spending in November. Continue reading...

The number of Gen Z directors of UK companies has jumped by 42% in just a year, from 171,000 to 243,000, new research shows.Read more: Nearly 250,000 young people are now running businesses

The UK’s largest EV rapid charging network, InstaVolt, announces a significant capital raise from the company’s existing investors, EQT Infrastructure to ensure the pace of its roll out continues across the UK and Europe, including Iceland, Portugal, Spain, and the Republic of Ireland.Read more: UK’s largest EV charging network announces significant funding from EQT Infrastructure

A flagship government childcare scheme is at risk of “falling apart” with parents struggling to access new free hours and nurseries in the dark about if they can afford to provide care, according to charities.Read more: Government’s free childcare scheme in disarray, charities say

Leading prime property finance firm CapitalRise has today announced a new £250m bank funding line, as part of the firm’s wider approach to diversify and increase the resilience of its capital sources and facilitate further lending growth.Read more: CapitalRise secures £250m bank funding line to further accelerate its lending capabilities

UK companies receiving credit upgrades have outweighed downgrades for the first time in a decade, but the improvement could be difficult to sustain.Read more: UK companies receive more credit upgrades than downgrades for first time in a decade

Police said the arrests were made in London, Liverpool and Brighton over a "disruptive and damaging stunt".

The Bank of London, a new clearing bank which boasts Lord Mandelson on the board, has raised £25m from investors after falling to a second annual loss.Read more: Startup bank headed by Lord Mandelson raises £25m from investors

The Post Office could be facing a £100 million bill and insolvency after claiming tax relief for its compensation payments to subpostmasters, according to a tax expert.Read more: Post Office could face £100m bill and insolvency, tax expert says

Farmers are warning of food price rises and a hit to their livelihoods from persistent flooding.Read more: Farmers warn food prices could rise as floods hit crops

Two optical experts who came together with the aim of disrupting the eyewear industry have successfully secured investment after appearing on Dragons' Den.Read more: Entrepreneurs secure Dragons’ investment for pioneering Pop Specs eyewear venture

Workers at Marks & Spencer are set to benefit from bumper payouts of thousands of pounds under its share save scheme as the high street stalwart reaps the rewards of its turnaround plan and toasts its “best ever Christmas”.Read more: Thousands of M&S staff get £10,000 in shares after strong trading period

The UK is the leading destination in Europe for investment, global tech companies and start-ups, according to a new report from the Computer & Communications Industry Association (CCIA).Read more: Report finds the UK is Europe’s most “advanced digital economy”

The UK's economy bounced back in November after shrinking during the previous month, according to official figures published this morning.Read more: UK economy bounces back with 0.3% growth

Sainsbury's has launched an electric vehicle (EV) charging business, targeting over 750 ultra-rapid charging bays in over 100 store car parks by the end of 2024.Read more: Sainsbury’s launches EV charging business to give ‘smart charging’ to shoppers

Officials are concerned continued assaults could lift oil and gas prices and cause an energy shock.

Stephen Bradshaw comes face to face with sub-postmasters he investigated at the Horizon scandal inquiry.

A brand-new functional drinks brand that wants to revolutionise the soft drinks market has announced its official launch. With an emphasis on gut-friendly ingredients and a commitment to environmental sustainability, Living Things brings a refreshing range of gut health focused prebiotic sodas that it hopes will redefine the concept of guilt-free refreshment.Read more: New prebiotic feel-good soda launches in the UK

NatWest Group has launched a new lending proposition for high growth businesses to enable them to lever off the value of their Intellectual Property (IP).Read more: NatWest launches Intellectual Property-based lending to fuel high growth businesses

In recent years, both the Post Office scandal and the IR35 scandal have sent shockwaves through the UK business and employment sectors. These high-profile cases have exposed the flawed practices of two important institutions, leading to widespread distrust and outrage.Read more: Post Office Scandal compares to IR35 scandal

Amazon is cutting hundreds of jobs at Prime Video and James Bond studio MGM as the tech giant grapples with tough competition in the streaming market.Read more: Amazon to cut hundreds of staff at Prime Video and MGM