Day: November 14, 2025
Reaction follows Wall Street’s worst day in a month and unprecedented slump in investment in China
Global markets have fallen after a tech sell-off that fuelled Wall Street’s worst day in a month and weak economic data in China showing an unprecedented slump in investment.
Japan’s tech-heavy Nikkei fell 1.8% on Friday, South Korea’s Kospi plunged 2.6% and there was a 1.5% fall in Australia, after a torrid day on Wall Street as Nvidia and other tech companies tumbled over valuation concerns.
UK chancellor is abandoning plans to raise income tax in her 26 November budget, while China reels from data showing weak factory output and retail sales
Culture secretary Lisa Nandy has weighed in on the chancellor’s plans to drop awhat would have been a manifesto-breaking income tax hike this morning.
Nandy told Sky News that Rachel Reeves remains “completely focused” on the public interest, but added it would not be “helpful or right” to speculate about what is in the November 26 budget.
I’ve known the Chancellor well for 15 years now, and I can tell you that she is solely and fiercely focused on the challenges facing the country and doing what is in the best interests of the country.
She’s never been shy of facing people down in order to do that in opposition and in government.
Over the course of the last few weeks, obviously I’ve had some discussions with her and her team about measures in the budget that may affect my department, proposals that we’re making, and discussions that ordinarily happen across government, and in every one of those discussions, it’s been the public interest that she’s completely focused on.
