l{"id":1295793,"date":"2023-11-10T09:54:46","date_gmt":"2023-11-10T09:54:46","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/business-live-natwest-cuts-ex-ceos-pay-package-gdp-growth-flatlines-diageo-suffers-demand-dip\/"},"modified":"2023-11-10T09:54:46","modified_gmt":"2023-11-10T09:54:46","slug":"business-live-natwest-cuts-ex-ceos-pay-package-gdp-growth-flatlines-diageo-suffers-demand-dip","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/business-live-natwest-cuts-ex-ceos-pay-package-gdp-growth-flatlines-diageo-suffers-demand-dip\/","title":{"rendered":"BUSINESS LIVE: Natwest cuts ex-CEO&#039;s pay package; GDP growth flatlines; Diageo suffers demand dip"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"js-article-text\" wp_automatic_readability=\"66.422891566265\">\n            <span class=\"mol-live-pulse\"><span class=\"mol-bullet-icon\"><\/span><span class=\"mol-live-bullet-text\">LIVE<\/span><\/span><\/p>\n<p class=\"author-section byline-plain\">By <a href=\"https:\/\/www.dailymail.co.uk\/home\/search.html?s=&amp;authornamef=Live+Commentary\" class=\"author\">Live Commentary<\/a> <\/p>\n<p class=\"byline-section\"><span class=\"article-timestamp article-timestamp-updated\"> <span class=\"article-timestamp-label\">Updated:<\/span> <time datetime=\"2023-11-10T09:54:46+0000\"> 09:54 GMT, 10 November 2023 <\/time> <\/span> <\/p>\n<p> <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/dk\/money\/moneymarkets\/article\/other\/para_top.html --> <!-- CWV --><!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-async-bundle\/8.0.2\/articleDefer.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--> <!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/registration--.css\" media=\"screen\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.0\/registration--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if IE]>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/1.17.0\/all1-ie8-9--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/>\n<![endif]--> <!--[if !IE]><!--> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-sync-bundle\/9.8.1\/desktop.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.2\/all--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/><link href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/17.18.2\/all1--.css\" media=\"all\" rel=\"stylesheet\" type=\"text\/css\" \/> <!--<![endif]--><!--[if gte IE 8]><!--> <link rel=\"stylesheet\" type=\"text\/css\" media=\"screen\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-fff\/2.4.1\/styles\/fff.css\" \/> <!--<![endif]-->  <!--[if IE 8]>\n\n<![endif]--> <!--[if IE 9]>\n\n<![endif]--> <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->  <!--<![endif]--><\/p>\n<p>   <!-- SiteCatalyst code version: H.20.3.\n    Copyright 1997-2009 Omniture, Inc. More info available at\n    http:\/\/www.omniture.com -->  <\/p>\n<p>         <!-- End SiteCatalyst code version: H.20.3. -->  <!--[if IE]>\n\n<![endif]--> <!--[if !IE]> -->   <!--<![endif]--><!--[if IE]>\n  \n  <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/gunther\/gunther-2159\/video_bundle--.css\"><\/noscript>\n  \n<![endif]--> <!--[if !IE]> --> <link rel=\"preload\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/7.2.1\/styles\/mol-fe-videoplayer.min.css\" as=\"style\" onload=\"this.rel=\" stylesheet=\"\" \/> <noscript><link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/videoplayer\/7.2.1\/styles\/mol-fe-videoplayer.min.css\" \/><\/noscript>  <!-- <![endif]-->\n          <link rel=\"stylesheet\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/configs\/styles\/channelColorVars.css\" media=\"all\" type=\"text\/css\" \/>\n          <link rel=\"stylesheet\" type=\"text\/css\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-live-blog\/2.12.3\/client\/index.css\" \/>\n          <link rel=\"stylesheet\" type=\"text\/css\" href=\"https:\/\/scripts.dailymail.co.uk\/static\/mol-fe\/static\/mol-fe-xpmodule-related-puff\/1.5.0\/index.css\" \/>\n<p>             <!-- CWV --><\/p>\n<div itemprop=\"articleBody\" wp_automatic_readability=\"18.828335159908\">\n<p class=\"mol-para-with-font\">The British economy stalled in the third quarter, registering flat gross domestic product growth between July and September, and surpassing expectations of a 0.1 per cent dip, fresh data from the Office for National Statistics shows.\u00a0<\/p>\n<p class=\"mol-para-with-font\">The FTSE 100 is down 0.9 per cent in early trading.\u00a0<span style=\"font-size: 16px;\">Among the companies with reports and trading updates today are Diageo, Redrow,\u00a0Chemring and Warpaint. Read the Friday 10 November Business Live blog below.<\/span><\/p>\n<p class=\"mol-para-with-font\"><a style=\"font-weight: bold;\" target=\"_self\" class=\"\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12733585\/BUSINESS-LIVE-GDP-growth-flatlines-Diageo-suffers-demand-dip-Redrow-sales-slump.html\" rel=\"noopener\">&gt; If you are using our app or a third-party site click here to read Business Live<\/a><\/p>\n<div class=\"mol-web-desktop moneymarkets\" data-mol-fe-live-blog=\"true\" data-api-base-url=\"https:\/\/www.dailymail.co.uk\/api\/mol-fe-live-blog\" data-article-configuration=\"{&quot;id&quot;:&quot;12733585&quot;,&quot;keyUpdatesOptions&quot;:{&quot;keyUpdates&quot;:true,&quot;keyUpdatesAlignment&quot;:&quot;right&quot;,&quot;keyUpdatesTimestamp&quot;:false},&quot;liveBlogClosed&quot;:false,&quot;showMatchTimestamp&quot;:false,&quot;showPostsByline&quot;:false,&quot;showPostsDate&quot;:false,&quot;showPostsIcons&quot;:false,&quot;status&quot;:&quot;active&quot;}\" data-article-id=\"12733585\" data-article-url=\"https:\/\/www.thisismoney.co.uk\/money\/moneymarkets\/article-12733585\" data-article-width=\"Wide\" data-environment=\"production\" data-platform=\"mol.web.desktop\" data-channel=\"moneymarkets\" data-channel-color=\"money\" data-top-parent-channel=\"money\" data-version=\"2.12.3\" data-reactroot=\"\">\n<div class=\"postListLayout_1lOeW_RO money\">\n<div class=\"postListWrapper_23sqoxd2 postListWrapperActive_1iHlOecK\" data-most-recent-epoch=\"1699611818636\">\n<div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"moDCuIsBIcx7f9abOs6Q\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">UK&#8217;s first supermarket to go back to fully-staffed checkouts<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"6.9227722772277\">\n<div data-body-element-id=\"aiDPkfnGgR\" wp_automatic_readability=\"7.6213017751479\">\n<p class=\"embedParagraph_1I1nW9oF\">A supermarket chain dubbed the &#8216;northern <a href=\"https:\/\/www.dailymail.co.uk\/news\/waitrose\/index.html\" target=\"_self\" rel=\"noopener\" data-reactroot=\"\">Waitrose<\/a>&#8216; has become the first in the UK to go back to fully-staffed checkouts after axing almost all of its self-service tills.<\/p>\n<\/div>\n<div data-body-element-id=\"6AXH2X_KnI\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Booths believe that the personal touch from the manned checkouts gives their customers a better experience &#8211; and the &#8216;warm northern welcome&#8217; is a key part of their charm.<\/p>\n<\/div>\n<div data-body-element-id=\"Q4sYPgfvnN\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.1506024096386\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.dailymail.co.uk\/news\/article-12732467\/Northern-Waitrose-UKs-supermarket-fully-staffed-checkouts-axing-self-service-tills.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"Yg6luIsBXM4GP557PpA4\" data-breaking=\"true\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\"><span class=\"breaking_2U5a22aF\">Breaking: <\/span>Natwest to dock ex-CEO&#8217;s payout package <\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"17.5\">\n<div data-body-element-id=\"k3TXd8eIcD\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">Natest will now pay almost \u00a37.6million in potential payments to former boss Dame Alison Rose, who left the comapny in July in the fallout of the Nigel Farage &#8216;debanking&#8217; row.<\/p>\n<\/div>\n<div data-body-element-id=\"z0bOGJnsBS\" wp_automatic_readability=\"7\">\n<p class=\"embedParagraph_1I1nW9oF\">The bank said this morning; <\/p>\n<\/div>\n<div data-body-element-id=\"HGeanj2aWn\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;Following the announcement that Ms Rose stepped down from her role by mutual agreement, it has been confirmed that good leaver status is not applicable under the relevant share plan rules. <\/i><\/p>\n<\/div>\n<div data-body-element-id=\"ImRzINqVrp\" wp_automatic_readability=\"11\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;There is no change to the vesting schedule of her awards; any awards due to vest after her cessation of employment on 26 July 2024 will lapse. The current value of the unvested share awards that will lapse is \u00a34,711,491.* No finding of misconduct has been made against Ms Rose by NatWest Group.<\/i><\/p>\n<\/div>\n<div data-body-element-id=\"sqARQY7iCu\" wp_automatic_readability=\"14\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;In addition, no bonus or variable remuneration will be paid to Ms Rose in respect of service during 2023. Had Ms Rose remained in role as Group Chief Executive for all of 2023 then under the approved DRP her maximum variable pay opportunity would have been \u00a32,868,113, subject to satisfaction of relevant performance conditions.&#8217;<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"xhmQuIsByUPMilkA-C3X\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">THIS founder on why fake meat is having its craft beer moment<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"7.8633540372671\">\n<div data-body-element-id=\"HBgSy-nC5k\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">Britain&#8217;s love affair with fake meat was more of a fleeting romance, as consumers turned their back on it as quickly as they fell for it.<\/p>\n<\/div>\n<div data-body-element-id=\"jqDOYHxcPZ\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">It&#8217;s claimed the vegan market may be worth as much as \u00a350billion globally by 2030, but sales in the UK seemed to have flatlined.<\/p>\n<\/div>\n<div data-body-element-id=\"CxqgrKtnVr\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"5.0322580645161\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/entrepreneuracademy\/article-12721411\/Is-fake-meat-trend-finally-Founder-plant-based-bacon-sausage-firm-believes-vegan-food-having-craft-beer-moment.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611968_165_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"YA50uIsBXM4GP557Q5AM\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">UK GDP surprise complicates Bank of England&#8217;s plans<br \/>\n<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"18.5\">\n<div data-body-element-id=\"WcvY6EuKOx\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Robert Alster, CIO at Close Brothers Asset Management:<\/p>\n<\/div>\n<div data-body-element-id=\"2wrTuSZuZJ\" wp_automatic_readability=\"12\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;Today\u2019s GDP figures will come as a surprise, showing the economy flatlined in the third quarter, avoiding a contraction. This may complicate the Bank of England&#8217;s path, with less of a basis to delay further rate hikes and even consider rate cuts. <\/i><\/p>\n<\/div>\n<div data-body-element-id=\"zTC1ghN4pK\" wp_automatic_readability=\"11\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;It will reinforce the Bank&#8217;s hawkish tone from last week\u2019s meeting, and Andrew Bailey will probably continue to dampen talk of cuts, sticking to the message that interest rates need to remain elevated for quite some time. <\/i><\/p>\n<\/div>\n<div data-body-element-id=\"ACEnKqdGEc\" wp_automatic_readability=\"14\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;However, despite the more positive numbers, the Bank still has flexibility. With grocery inflation in the UK dipping below double digits, the upcoming inflation data on the 15th November will be key to demonstrating how much further the Bank of England has to go, and the possibility of rate cuts next year. <\/i><\/p>\n<\/div>\n<div data-body-element-id=\"0T1KvUNkpH\" wp_automatic_readability=\"7\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;It\u2019s a relatively dramatic turnaround over a relatively short period of time.&#8217;<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"Xg5puIsBXM4GP557F5Bk\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">ING: UK recession &#8216;can&#8217;t be ruled out&#8217; <\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"9.5\">\n<div data-body-element-id=\"QvmRcmHSi7\" wp_automatic_readability=\"10\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;UK GDP was a little better than expected, but in reality, the economy has largely stagnated this year.<\/i><\/p>\n<\/div>\n<div data-body-element-id=\"Fvu-TIE-UW\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;We expect that trend to continue over coming quarters as the impact of higher rates continue to bite, though a recession can&#8217;t be ruled out.&#8217;<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"XQ5muIsBXM4GP5579JDO\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Greenpeace hit with Shell lawsuit after 13 day oil rig protest<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"6.53125\">\n<div data-body-element-id=\"oT5zJt0yCv\" wp_automatic_readability=\"7\">\n<p class=\"embedParagraph_1I1nW9oF\">Shell is suing Greenpeace for \u00a31.7million after its protesters occupied an oil rig for 13 days.<\/p>\n<\/div>\n<div data-body-element-id=\"NgAUZn_lBX\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">The oil giant said it supports the right to peaceful protest but the \u2018unlawful and extremely dangerous\u2019 action put the lives of both the protesters and crew at risk.<\/p>\n<\/div>\n<div data-body-element-id=\"lDM8BjHAQy\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.6255813953488\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/markets\/article-12731849\/Greenpeace-hit-Shell-lawsuit-13-day-oil-rig-protest.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611970_237_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"VadTuIsBH7zm5nTAZ00U\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Home REIT forced to sell more properties\u00a0as it scrambles to raise cash<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"7.9438016528926\">\n<div data-body-element-id=\"RHggINOCWp\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Struggling Home REIT has once again sold off a chunk of its portfolio for a fraction of its purchase price as it scrambles to raise cash.<\/p>\n<\/div>\n<div data-body-element-id=\"gwPovljoRm\" wp_automatic_readability=\"10\">\n<p class=\"embedParagraph_1I1nW9oF\">The homeless housing firm \u2013which has been under scrutiny since November last year following a report by short-seller Viceroy Research \u2013 announced it had sold another 153 properties at a series of auctions earlier this week, raising around \u00a323.4million.<\/p>\n<\/div>\n<div data-body-element-id=\"rHQSLOSI8C\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.3127962085308\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/markets\/article-12731893\/Troubled-Home-REIT-forced-sell-properties-scrambles-raise-cash.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611971_396_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"uBlGuIsByUPMilkAwS0c\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">When will we see an end to car and home insurance price hikes?<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"6.1019955654102\">\n<div data-body-element-id=\"zcwcmAtUlf\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Households are struggling under the weight of rising car and home insurance premiums &#8211; and no sign of when prices are likely to fall again.<\/p>\n<\/div>\n<div data-body-element-id=\"r-7P-lF-ZZ\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.9431279620853\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/bills\/article-12720847\/When-end-relentless-car-home-insurance-price-hikes.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611973_495_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"lYA5uIsBIcx7f9abI851\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Federal Reserve chairman Jerome Powell warns inflation fight is not over<br \/>\n<\/h2>\n<div data-track-module=\"live-blog-body\">\n<div data-body-element-id=\"jEkJSxuN3V\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.7945205479452\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/markets\/article-12731553\/Federal-Reserve-chairman-Jerome-Powell-warns-inflation-fight-not-over.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611974_225_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"XA44uIsBXM4GP557kpBP\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Redrow sales slump<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"14.5\">\n<div data-body-element-id=\"8t-aEMlSsy\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Redrow expects annual profit and revenue to be at the lower end of its forecast range as the builder suffers a subdued autumn housing market.<\/p>\n<\/div>\n<div data-body-element-id=\"tczeP38R1P\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">The latest warning from a UK housebuilder on challenging conditions in the housing market comes as elevated mortgage costs and broader economic worries drive homebuyers away.<\/p>\n<\/div>\n<div data-body-element-id=\"CW3sNux4-B\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">Earlier this week, Redrow&#8217;s bigger peers Taylor Wimpey and Persimmon flagged uncertainty in the coming months.<\/p>\n<\/div>\n<div data-body-element-id=\"b4x0iXRKRK\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">The business has had to adapt to a &#8216;more difficult trading environment&#8217; in terms of build rate and operating costs, Redrow Chairman Richard Akers said.<\/p>\n<\/div>\n<div data-body-element-id=\"-lU2rhgYgR\" wp_automatic_readability=\"10\">\n<p class=\"embedParagraph_1I1nW9oF\">In September, the company had forecast fiscal year 2024 profit before tax of \u00a3180million to \u00a3200million, and revenue of \u00a31.65billion to \u00a31.7billion.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"Ww41uIsBXM4GP557tJAo\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">GDP growth flatlines in Q3: &#8216;A decent outcome&#8217;<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"11\">\n<div data-body-element-id=\"fK_XqgksK1\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Emma Mogford, manager of the Premier Miton Monthly Income Fund:<\/p>\n<\/div>\n<div data-body-element-id=\"QXHkr9OXHx\" wp_automatic_readability=\"10\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;A flat economy isn\u2019t usually something to cheer about. However, given the pressures from the cost-of-living crisis and higher interest rates, it\u2019s a decent outcome. <\/i><\/p>\n<\/div>\n<div data-body-element-id=\"_hVXfoi4oL\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;While pressures from higher rates remain, I think we can go into the festive season with a dash of optimism about the British economy.&#8217;<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"lIAzuIsBIcx7f9ab-86y\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Diageo suffers demand dip<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"14\">\n<div data-body-element-id=\"31A_KtBrqr\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">Diageo expects organic operating profit growth to decline in the first half of its current financial year due to &#8216;materially weaker&#8217; performance in Latin America and Caribbean.<\/p>\n<\/div>\n<div data-body-element-id=\"Q5xkeKJz9E\" wp_automatic_readability=\"9\">\n<p class=\"embedParagraph_1I1nW9oF\">&#8216;Macroeconomic pressures in the region are resulting in lower consumption and consumer downtrading,&#8217; the world&#8217;s biggest spirits company said in a statement.<\/p>\n<\/div>\n<div data-body-element-id=\"M7zBVS9OKf\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\">&#8216;These impacts are slowing down progress in reducing channel inventory to appropriate levels for the current environment.&#8217;<\/p>\n<\/div>\n<div data-body-element-id=\"wPHxrvJ0RR\" wp_automatic_readability=\"7\">\n<p class=\"embedParagraph_1I1nW9oF\">Latin America and Caribbean makes up nearly 11 per cent of the Johnnie Walker maker&#8217;s net sales.<\/p>\n<\/div>\n<div data-body-element-id=\"uo-VHR1r_8\" wp_automatic_readability=\"11\">\n<p class=\"embedParagraph_1I1nW9oF\">Sales in the region are now expected to decline by more than 20 per cent, year-on-year, in the first half of fiscal 2024, the company added. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"Wg4vuIsBXM4GP557pJCi\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">Arm tumbles as British chipmaker&#8217;s first set of results since US float come up short<br \/>\n<\/h2>\n<div data-track-module=\"live-blog-body\">\n<div data-body-element-id=\"uGu_B9gEaf\">\n<div class=\"embedDMWrapper_c6nJ9xDY\" data-track-module=\"live-blog-embed\" wp_automatic_readability=\"4.3333333333333\">\n<div class=\"embed-dm-image_32IWLKV6\"><a href=\"https:\/\/www.thisismoney.co.uk\/money\/markets\/article-12731841\/Arm-tumbles-British-chipmakers-set-results-float-come-short.html\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/1699611975_776_BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/><\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"WQ4uuIsBXM4GP55705DB\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">GDP growth flatlines: &#8216;The bigger issue lies with the service industry&#8217; <\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"23.5\">\n<div data-body-element-id=\"yxRBOY5qC_\" wp_automatic_readability=\"8\">\n<p class=\"embedParagraph_1I1nW9oF\"><b>Michael Field, Europe market strategist at Morningstar:<\/b><\/p>\n<\/div>\n<div data-body-element-id=\"FeVEanAYan\" wp_automatic_readability=\"13\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;UK GDP growth came in at 0.2% in September, against economists\u2019 expectations of a flat performance. This comes on the foot of August\u2019s reading of 0.1% growth. While this level of growth is far from robust, the important thing here is that the UK economy is in the black, and flat growth quarter on quarter means that the UK will not enter a technical recession in 2023.<\/i><\/p>\n<\/div>\n<div data-body-element-id=\"UI88TcSZNl\" wp_automatic_readability=\"14\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;Manufacturing usually takes the rap for slow economic growth in the UK, and rightfully too in many ways. Manufacturing activity, shown by manufacturing PMIs, has been in decline since the middle of 2022. With manufacturing contributing less than 20% to GDP however, this is just part of the problem.<\/i><\/p>\n<\/div>\n<div data-body-element-id=\"PYRGsMiXfd\" wp_automatic_readability=\"14\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;The bigger issue lies with the service industry, which contributes almost 80% of GDP, and accounts for almost the same percentage in employment. Here, a large pullback in spending over the last 18 months by both businesses and consumers has hurt the economy. The somewhat bright news however is that service output rose by 0.2% in September, following a 0.7% fall in August.<\/i><\/p>\n<\/div>\n<div data-body-element-id=\"qNUBb1Lugs\" wp_automatic_readability=\"13\">\n<p class=\"embedParagraph_1I1nW9oF\"><i>&#8216;With interest rates at the highest level since the global financial crisis, the cost of interest on debt is really starting to bite for both businesses and households. With interest rates likely to stay high for an extended period of time, it is hard to see any quick reversal on service spending, meaning low GDP growth may persist for some time yet.&#8217;<\/i><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"postItemWrapper_3neUe0_U\" id=\"WA4suIsBXM4GP557H5AJ\" data-breaking=\"false\" data-closing=\"false\" data-exclusive=\"false\" data-key-update=\"false\" data-pinned=\"false\" data-post=\"true\">\n<div class=\"rowLayout_1DHYN8qE\">\n<div class=\"postItem_1uUs-hu4\">\n<h2 class=\"postItemTitle_1WqUGhNH\" data-track-module=\"live-blog-title\" data-display-creation-date=\"true\">GDP growth flatlines in Q3<\/h2>\n<div data-track-module=\"live-blog-body\" wp_automatic_readability=\"8.5\">\n<div data-body-element-id=\"Cgy25-BRvO\" wp_automatic_readability=\"12\">\n<p class=\"embedParagraph_1I1nW9oF\">The British economy stalled in the third quarter, registering flat gross domestic product growth between July and September, and surpassing expectations of a 0.1 per cent dip, fresh data from the Office for National Statistics shows. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>            <!-- ad: https:\/\/mads.dailymail.co.uk\/v8\/dk\/money\/moneymarkets\/article\/other\/inread_player.html --><\/p>\n<div class=\"column-content cleared\">\n<div class=\"shareArticles\">\n<h3 class=\"social-links-title\">Share or comment on this article:<br \/>\n                        BUSINESS LIVE: Natwest cuts ex-CEO&#8217;s pay package; GDP growth flatlines; Diageo suffers demand dip<\/h3>\n<\/p><\/div>\n<\/p><\/div>\n<p class=\"mol-style-italic byline-section justify\">Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.<\/p>\n<p>            <ad-slot position=\"smart_feed\"><\/ad-slot><\/p>\n<p>            <ad-slot position=\"after_article\"><\/ad-slot><\/p><\/div>\n<p><script async defer crossOrigin=\"anonymous\"  src=\"https:\/\/connect.facebook.net\/en_US\/sdk.js#xfbml=1&#038;version=v15.0\"><\/script><br \/>\n<br \/><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12733585\/BUSINESS-LIVE-GDP-growth-flatlines-Diageo-suffers-demand-dip-Redrow-sales-slump.html?ns_mchannel=rss&#038;ns_campaign=1490&#038;ito=1490\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>LIVE By Live Commentary Updated: 09:54 GMT, 10 November 2023 The British economy stalled in the third quarter, registering flat gross domestic product growth between July and September, and surpassing expectations of a 0.1 per cent dip, fresh data from the Office for National Statistics shows.\u00a0 The FTSE 100 is down 0.9 per cent in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1295794,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1295793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BUSINESS LIVE: Natwest cuts ex-CEO&#039;s pay package; GDP growth flatlines; Diageo suffers demand dip - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12733585\/BUSINESS-LIVE-GDP-growth-flatlines-Diageo-suffers-demand-dip-Redrow-sales-slump.html?ns_mchannel=rss&ns_campaign=1490&ito=1490\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BUSINESS LIVE: Natwest cuts ex-CEO&#039;s pay package; GDP growth flatlines; Diageo suffers demand dip - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"LIVE By Live Commentary Updated: 09:54 GMT, 10 November 2023 The British economy stalled in the third quarter, registering flat gross domestic product growth between July and September, and surpassing expectations of a 0.1 per cent dip, fresh data from the Office for National Statistics shows.\u00a0 The FTSE 100 is down 0.9 per cent in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12733585\/BUSINESS-LIVE-GDP-growth-flatlines-Diageo-suffers-demand-dip-Redrow-sales-slump.html?ns_mchannel=rss&amp;ns_campaign=1490&amp;ito=1490\" \/>\n<meta property=\"og:site_name\" content=\"Business Telegraph\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-10T09:54:46+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/11\/BUSINESS-LIVE-Natwest-cuts-ex-CEO039s-pay-package-GDP-growth-flatlines.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"636\" \/>\n\t<meta property=\"og:image:height\" content=\"382\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"businesstelegraph\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"businesstelegraph\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12733585\/BUSINESS-LIVE-GDP-growth-flatlines-Diageo-suffers-demand-dip-Redrow-sales-slump.html?ns_mchannel=rss&ns_campaign=1490&ito=1490#article\",\"isPartOf\":{\"@id\":\"http:\/\/www.businesstelegraph.co.uk\/business-live-natwest-cuts-ex-ceos-pay-package-gdp-growth-flatlines-diageo-suffers-demand-dip\/\"},\"author\":{\"name\":\"businesstelegraph\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#\/schema\/person\/0a3a6a0f58402f1f2af94e02d0987b78\"},\"headline\":\"BUSINESS LIVE: Natwest cuts ex-CEO&#039;s pay package; 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