Good morning from London, where the FTSE 100 has opened lower following the news from the ONS that UK inflation remained above 10.1% during the year to March, propped up by soaring food prices.
The news make it more difficult for the Bank of England to reduce interest rates. Shares in Greggs are also down after the high street bakery chain announced it will be fighting a ban on its Leicester Square store staying open into the wee hours.
National Express soared meanwhile after it managed to record a 25% increase in revenue to £774.4mln during the first quarter, despite indefinite strikes by over 3,000 of its drivers.
Over in the US, Elon Musk’s Tesla has cut its vehicle prices in the US for the sixth time this year, following similar reductions in Europe last week, as it gears up to release quarterly results on Wednesday.
Netflix announced its crackdown on password sharing will begin imminently in a bid to boost revenues after subscriber numbers fell short of expectations in Q1.