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U K s Treasury chief accepts that recession may be necessary to get inflation down

Britain's Treasury chief said he would be prepared to see the U.K. economy slip back into recession if further interest rate hikes are necessary to bring down inflation.

FTSE 100 rises on growing optimism of debt ceiling deal

FTSE 100 ends 56 points higher Wall Street jumps in spite of PCE inflation beat UK April retail sales beat City expectations 4.40pm: FTSE 100 finishes in.

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