Public borrowing rose last month to its highest level for November since monthly records began in 1993.
The Treasury borrowed £22bn in November to plug the gap between tax revenue and spending, according to the Office for National Statistics.
This figure is £13.9bn more than the previous year.
5 things to start your day with
1) Mick Lynch in secret talks with Network Rail | RMT chief joins bosses for private meeting amid signs public is turning against union
2) Sharing Netflix passwords ‘is against the law’, government suggests | The new guidelines take a hard line on password sharing as Netflix takes action
3) Liz Hurley among hundreds of British Airways customers affected by chaos | Actress and model stranded in Antigua as software system goes haywire
4) Volkswagen tells China plant staff to work longer hours after Covid | Car maker ramps up production as zero-Covid relaxation wreaks havoc on production
5) Elon Musk to step down as Twitter CEO after finding ‘someone stupid enough’ to take over | The billionaire says he will still manage the software and server teams
What happened in one night
Greenidge Generation, once one of the largest public bitcoin miners in the US, has warned it may seek bankruptcy protection as it enters debt restructuring talks with lender New York Digital Investment Group.
The firm, perhaps 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 brink of bankruptcy following the plunge in the value of the largest cryptocurrency.
Elsewhere, Philippine Stock Exchange President Ramon Monzon said Wednesday that there were no fraudulent trading activities in shares of PLDT Inc. before the company disclosed its 48 billion peso ($870 million) overspending, according to ABS-CBN News .
Citing the results of the exchange’s preliminary investigation, Monzon said “we did not see any indication of fraudulent transactions prior to the disclosure.” The exchange found that many of the transactions were institutional trades, mostly by foreign brokers, rather than personal trades, he said.
Apart from the trading activities since December 16, the exchange is also looking at transactions in PLDT shares since the end of October.
Add Comment