Live Pound faces existential crisis over Bank of England’s “confusing” strategy – live updates

Good morning. Brent crude has surpassed $ 120 a barrel for the first time since March, as China prepares to reopen Shanghai’s central manufacturing city.

The FTSE 100 will open 0.4% higher as the stock continues to recover.

5 things to start the day

1) How Beijing surveillance cameras were placed in the British power corridors Cameras used to monitor Uyghur camps widely used in schools, hospitals and government buildings in the UK.

2) Sunak to move forward with “NFT for Britain” despite falling markets A market turmoil that has wiped out billions of pounds of digital assets.

3) Electric vehicles should face a “tire tax,” says the air quality advisor. Particles generated by tire wear are more dangerous to public health than diesel exhaust fumes, according to some.

4) Why Mercedes and Volkswagen’s big bet on the rich runs the risk of being counterproductive Luxury car sales made big profits during the pandemic, but signs suggest the boom won’t last long.

5) Shanghai struggles to avoid zero Covid economic catastrophe China’s largest port launches stimulus effort after months of severe blockades

What happened overnight

Asian markets rose on Monday as investors regained confidence following the release of healthy US data and while China eased some of its strict Covid restrictions in Shanghai and Beijing, raising hopes for the economy number two in the world. Hong Kong got more than two percent after a strong performance on Friday driven by a rebound in tech companies, while Tokyo, Sydney, Shanghai, Seoul, Taipei, Manila and Wellington also did well.

Arrive today

Corporate: No updates scheduled

Economy: consumer confidence (EU), business climate (EU)

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