BUSINESS LIVE: Borrowing hits £3.1bn in July; Mobico to sell US school bus business; Watkin Jones cuts guidance

By Live Commentary

Updated: 08:42 BST, 21 August 2024

British public borrowing was £3.1billion in July, according to the Office for National Statistic, smashing both official and City forecasts.

The Office for Budget Responsibility had pencilled in borrowing of just £100million for the month, while economists had predicted it would hit £1.5billion.

The FTSE 100 is up 0.1 per cent in early trading. Among the companies with reports and trading updates today are Mobico, Watkin Jones and Waitrose. Read the Wednesday 21 August Business Live blog below.

> If you are using our app or a third-party site click here to read Business Live

MARKET REPORT: BT shares slump after Sky agrees broadband deal with CityFibre

Almost £1billion was wiped off the value of BT after a rival struck a major broadband deal.

Shares in the telecoms giant fell more than 6 per cent on the news that network provider CityFibre will partner with Sky next year.

The deal will see Sky rollout its broadband to those on CityFibre’s network, which serves nearly 4million homes.

Borrowing far higher than expected in July

British public borrowing was £3.1billion in July, according to the Office for National Statistic, smashing both official and City forecasts.

The Office for Budget Responsibility had pencilled in borrowing of just £100million for the month, while economists had predicted it would hit £1.5billion.

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Read more at DailyMail.co.uk

BUSINESS LIVE: Borrowing hits £3.1bn in July; Mobico to sell US school bus business; Watkin Jones cuts guidance

MARKET REPORT: BT shares slump after Sky agrees broadband deal with CityFibre

Borrowing far higher than expected in July

: BUSINESS LIVE: Borrowing hits £3.1bn in July; Mobico to sell US school bus business; Watkin Jones cuts guidance

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BUSINESS LIVE: Borrowing hits £3.1bn in July; Mobico to sell US school bus business; Watkin Jones cuts guidance