Gold and silver hit record highs amid rate-cut bets and Venezuela tensions – business live

Rolling coverage of the latest economic and financial newsThe UK economy has grown more slowly than thought during 2025, as the spectre of recession looms over Britain.The Office for National Statistics has revised down its estimate for growth in the second quarter of 2025, from 0.3% to just 0.2%.“Today’s updated figures paint the same picture as our initial estimate, with growth continuing to slow in the third quarter. Growth in services were partially offset by falls in production, with a marked drop in car manufacturing.“Going forward, November’s Budget measures will do nothing for growth after the OBR forecasted zero impact from the policies introduced at the despatch box.Instead, the government is going to have to hope that previous measures taken to date begin to bear fruit, or that geopolitical challenges calm down enough that global trade can rebound. Continue reading...