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US inflation jump dents rate cut hopes

 

5 things to start your day 

1) Biggest North Sea oil find in decades to be drilled for first time | Sites expected to produce 500m barrels of oil despite net zero crackdown

2) Cyber attacks risk triggering bank runs, warns IMF | Research shows the number of malicious attacks has doubled since the pandemic

3) Baby boomers are coping best with higher bills, FCA survey finds | Older Britons are more likely to own homes outright and have inflation linked income

4) Why Mohammed bin Salman has been forced to rein in his dreams of a mirror city | Plans for a gleaming skyscraper utopia in the Saudi desert have lost their shine

5) Jeremy Warner: Failures in the Bank’s forecasting are about to be thrown into sharp relief | Sound monetary policy must be based above all on sound judgement

What happened overnight 

In Wall Street, the S&P 500 edged up by 0.1pc, to…

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