US inflation rises to 5.4%; The UK economy resumes the camping boom – how it happened | Companies

“Stable but persistently high”: US inflation rose from 5.3% in August to 5.4% in September, reaching 13-year highs in June and July when the annual rate was also 5.4% . It was driven up by food, energy, and car prices. The core rate, excluding volatile items like food and energy, stayed at 4% after hitting a 30-year high of 4.3% in June.

The boom in domestic holidays caused the UK economy to rebound in August as bars, restaurants and festivals benefited from the easing of most of the remaining Covid restrictions in midsummer. The UK economy grew 0.4% after a revised 0.1% decline in July. However, economists warned that growth may not be sustainable as material and fuel shortages weigh on the economy.

Brexit and Covid-related bottlenecks have slowed UK exports, causing the trade deficit to worsen in August. But the industry in the euro zone was also hit by the supply chain crisis, in particular by the shortage of chips that affected German automobile manufacturers and contributed to a 4.1% slump in German industrial production.

The stock markets are mostly higher, with the FTSE 100 index in London flat at 7,128, while the German Dax is 1% ahead and the Nasdaq is up 0.8% on Wall Street.

Here are our other main stories:

UK pre-bookings for air freight services rose 70% in October as companies look for a way to bypass port backlogs, according to a freight group.

The backlog in Britain’s largest container port is “improving” so Brits should shop normally for Christmas, a cabinet minister said after reports of large ships carrying goods out of Asia were diverted.

Amazon could owe a total of £ 140 million in compensation to the thousands of drivers who deliver its packages, according to a law firm filing a class action on their behalf.

Railroad companies have started shedding thousands of employees as the industry seeks to cut costs by £ 2 billion after losing millions of passengers to the coronavirus.

Railway employees were asked to apply for severance pay, which the unions describe as “ridiculous” and a “breach of trust”.

Despite increasing representation in the UK music industry, the UK sector remains hostile to black creators and professionals, according to a report highlighting the mental health implications of systemic racism and a racial wage gap that disproportionately affects black women.

The dystopian South Korean drama Squid Game has become the most popular Netflix series of all time, and has attracted 111 million fans since its debut less than four weeks ago.

Thanks for reading and commenting. We’ll be back tomorrow. Goodbye – JK