Public borrowing rose last month to its highest November figure since monthly records began in 1993.
According to the Office for National Statistics, the Treasury borrowed £22 billion in November to plug the gap between tax receipts and spending.
This figure is 13.9 billion pounds more than the previous year.
5 things to start the day
1) Mick Lynch holds secret talks with Network Rail | RMT boss joins executives for private meeting amid signs public is turning against union
2) Sharing Netflix passwords ‘is breaking the law’, government suggests | New guidelines take a tough stance on password sharing as Netflix slows down
3) Liz Hurley among hundreds of British Airways customers affected by the chaos | Actress and model stranded in Antigua when software system goes wrong
4) Volkswagen tells China factory staff to work longer hours after Covid | Automaker ramps up production as zero-Covid relaxation wreaks havoc on manufacturing
5) Elon Musk to step down as Twitter CEO once he finds ‘someone dumb enough’ to take over | The billionaire says he will still run the software and server teams
What happened during the night
Greenidge Generation, once one of the largest public Bitcoin miners in the US, has warned it may seek bankruptcy protection as it enters debt restructuring talks with lender New York Digital Investment Group.
The company, perhaps best known for a long-running dispute with environmentalists over the impact of its operations on New York’s Seneca Lake, is the latest miner to teeter on the brink of bankruptcy in the wake of the slump in largest cryptocurrency value. .
Elsewhere, Philippine Stock Exchange Chairman Ramon Monzon said Wednesday that there were no fraudulent activities in the trading of PLDT Inc. shares. before the company revealed its 48 billion pesos ($870 million) cost overrun, according to ABS-CBN News.
Citing the results of the exchange’s preliminary investigation, Monzon said “we did not see any indication of fraudulent operations prior to the disclosure.” The exchange found that many of the trades were institutional trades, mainly by foreign brokers, and not personal trades, he said.
Apart from the December 16 trading activities, the exchange is also looking into transactions in PLDT shares since late October.