UK services sector shrinks fastest since 2023; global shares fall after US tech sell-off
10 reported
According to a single-source report from The Guardian, the UK services sector has contracted at its fastest pace since 2023, while global shares tumbled following a sell-off in US technology stocks. Separately, campaigners lost a high court challenge against the expansion of Gatwick Airport, which was approved by Transport Secretary Heidi Alexander in September. The £2.2bn plan would move the emergency runway 12 metres north to accommodate about 100,000 more flights annually. The boss of Royal Mail’s parent company received nearly £7m in pay and bonuses, more than triple the previous year, despite group profits falling by a fifth. UK pawnbroker Ramsdens agreed to a £206m takeover by US rival FirstCash. Yorkshire Water reported a water outage affecting customers in Easingwold, Tollerton and surrounding areas due to a third-party pollution incident on the river Ouse. Nasdaq futures pointed to a 2.7% fall when Wall Street opens.
What’s reported
UK services sector shrank at fastest pace since 2023.
Global shares tumbled after a US tech sell-off.
Campaigners lost high court challenges over Gatwick Airport expansion; they plan to appeal.
Transport Secretary Heidi Alexander approved the £2.2bn scheme in September.
The expansion would move the emergency runway 12 metres north for about 100,000 more flights a year.
Martin Seidenberg, CEO of Royal Mail parent IDS, received £6.9m in pay and bonuses, up from £2.1m the previous year.
IDS adjusted operating profits fell 20% to £222m in the year to 31 March.
Ramsdens agreed to be bought by US rival FirstCash for £206m.
Yorkshire Water flagged a water outage due to a third-party pollution incident on the river Ouse.
Nasdaq futures pointed to a 2.7% fall at Wall Street open.
Key figures
Heidi Alexander, Transport Secretary
Peter Barclay, campaigner
Communities Against Gatwick Noise Emissions (Cagne), campaign group
Mr Justice Mould, judge
Martin Seidenberg, group chief executive of International Distribution Services (IDS)
Daniel Křetínský, Czech billionaire
Peter Kenyon, Ramsdens chief executive
Sources: The Guardian
