1. Chancellor announces a raft of policies at today’s budget
The chancellor unveiled his plans as figures from the OBR forecast unemployment would hit 4.9% and the economy would shrink by 1.4% in 2023.
2. Centrica and Drax jump, shrugging off windfall tax
Together, the Treasury has calculated the measures will raise £14bn, with total revenue raised from energy profits levy of £7.2bn predicted to be drummed up in the current tax year, £10.8bn in the year to April 2024, falling to £8bn, £6bn and £5.5bn in the subsequent three years.
3. IDS is in cash preservation mode, said Barclays
The first-half EBIT loss of £57mln was driven by a weak performance at Royal Mail where an EBIT loss of £213mln was in line with the pre-release on 13 October, analysts wrote.
4. FTSE 100 finishes flat after Chancellor provides bleak outlook in autumn statement
At the close, the FTSE 100 finished virtually flat, losing just five points to end the day at 7,347 points.
5. Burberry posts first half sales growth
For the six-month period, sales in Asia were down 4%, despite the growth in the second quarter, with COVID-related lockdowns in mainland China in quarter one impacting the overall result.