Britain’s energy price cap heading for £3,300; US jobs report eases recession worries – as it happened

Cornwall Insight predicts UK energy cap will rise to 3,363 a year in January, as US economy shakes off recession worries by adding more jobs last month

The CMA's initial report into the fuel market, just released, highlights how prices have soared:

The price of a litre of both petrol and diesel has gone up by over 60p in the last year. Households now pay on average more than 500 per year extra to run a medium-sized petrol car, and for those living in rural areas, the impact will generally be greater.

More than half of motorists have changed their behaviour in response to this increased cost.

Even with his resignation, he remains emboldened to continue as a caretaker PM until the autumn while a new leader is selected, eager to push through his economic agenda and make one final stand.

Needless to say, at a time when the UK economy is already on its knees, these developments may continue to add to the negative sentiment and weigh on the outlook for UK financial assets.