UK house prices rose at their slowest annual rate in more than a year last month, according to the latest survey from mortgage lender Nationwide.
The building society said UK house prices were up 4.3% year-on-year in January, below forecasts for 4.4% growth, a slowing from 4.5% growth in December and the smallest increase since November 2015.
Nationwide also warned that the prospect of weaker jobs growth and higher inflation is likely to weigh further on the prospects for house prices in 2017.
Manufacturing slows …
The big fall in the pound since Britain voted to leave the European Union last June stoked the sharpest rise in factory costs on record last month, but still offered little boost to exports, tainting an otherwise robust start from manufacturing in 2017.
The latest Markit/CIPS UK Manufacturing Purchasing Managers' Index edged down to 55.9 in January, from December's 2-1/2 year peak of 56.1, albeit matching consensus forecasts.
The survey still suggested the UK economy continues to expand at a solid rate after outpacing its rivals last year, with a gauge of factory output pointing to the fastest growth since May 2014.
Inflation key …
The British public's expectations for inflation over the coming year rose to their highest level in just over three years last month, according to a monthly survey by Citibank and polling firm YouGov.
The survey said short-run inflation expectations rose to 2.6% in January, up from 2.4% in December, the highest since December 2013 and above the long-run average of 2.4%.
In November, the Bank of England forecast that inflation would exceed 2.7% by the end of this year, pushed up by the fall in the value of sterling after last year's Brexit vote.
Coughing up …
German carmaker Volkswagen AG has agreed to pay at least US$1.22bn to fix or buy-back nearly 80,000 polluting US 3.0 litre diesel-engine vehicles to settle claims it fitted illegal emissions-cheating software to the cars, court documents seen by Reuters showed.
German autoparts supplier Bosch GmbH also agreed to pay US$327.5mln to US diesel VW owners, according to the documents.
VW could be forced to pay up to US$4.04bn if US regulators don't approve fixes for all vehicles.
Investor pressure …
The investment arm of insurer Standard Life (LON:SL. has expressed concerns about corporate governance at both Volkswagen and UK sporting goods retailer Sports Direct (LON:SPD) and will press for more change at the companies.
In its annual governance report released today, Standard Life Investments – which is the fourth largest shareholder in Sports Direct with a 3.5% stake - said it had "major concerns" about the UK firm's remuneration policy.
At Volkswagen, Standard Life Investments – which no longer owns any shares only debt in the German carmaker - said "increased board independence is crucial to rebuilding trust" in the company.
Dragons Den changes …
Two Dragons’, Sarah Willingham and Nick Jenkins are to quit the BBC TV show, opting to bow out of their deals after two years.
Willingham, who created the Bombay Bicycle Club chain, has decided she wants to finally action her plan to travel the world with her husband and four kids.
Jenkins, who founded Moonpig.com, has said he wants to work on his own businesses rather than investing.