FTSE 100 at Record Highs as Banking Tax Battle Looms Under Burnham

The UK economy is a study in contrasts. The FTSE 100 is flirting with the 11,000 mark for the first time, powered by oil majors, miners, and banks benefiting from high interest rates. Yet beneath the surface, the private sector has now shed jobs for 22 consecutive months — a joint-record in 30 years of data — and growth remains anemic at a PMI of just 52.2.

Headwinds

• Jobs crisis deepening: Employment has fallen for 22 straight months, the longest run...