Public borrowing rose last month to its highest figure for November since monthly records began in 1993.
The Treasury borrowed £22bn in November to plug the gap between tax receipts and spending, according to the Office for National Statistics.
That figure is £13.9bn more than the previous year.
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1) Mick Lynch holds secret talks with Network Rail | RMT chief joins executives for private meeting amid signs public are turning against union
2) Sharing Netflix passwords ‘is breaking the law’, Government suggests | New guidance takes a tough stance on password sharing as Netflix cracks down
3) Liz Hurley among hundreds of British Airways customers hit by chaos | Actress and model stranded in Antigua as software system goes awry
4) Volkswagen tells China factory staff to work longer hours after Covid illnesses | Carmaker ramps up production as zero-Covid relaxation wreaks havoc with manufacturing
5) Elon Musk will quit as Twitter chief executive once he finds ‘someone foolish enough’ to take over | Billionaire says he will still run the software and servers teams
What happened overnight
Greenidge Generation, once one of the largest public Bitcoin miners in the US, warned that it may seek bankruptcy protection while entering into debt restructuring talks with lender New York Digital Investment Group.
The firm, probably best known for a long-running dispute with environmentalists over the impact of its operations on New York’s Seneca Lake, is the latest miner to teeter on the edge of bankruptcy in the wake of the plunge in the value of the largest cryptocurrency.
Elsewhere, Philippine Stock Exchange President Ramon Monzon said Wednesday that there were no fraudulent activities in the trading of PLDT Inc. shares before the company disclosed its 48-billion peso ($870 million) cost overrun, according to ABS-CBN News.
Citing the results of the exchange’s preliminary investigation, Monzon said “we did not see any indication of any fraudulent trades prior to the disclosure.” The bourse found that a lot of the transactions were institutional trades, mostly by foreign brokers and not personal trades, he said.
Apart from the December 16 trading activities, the exchange is also looking at transactions in PLDT shares since late October.
