Wilko bailout deal collapses – latest updates

Thanks for joining me. BMW will make a multi-million pound investment in its electric Mini production in Britain, a move that will secure 4,000 jobs.

Business Minister Kemi Badenoch will visit the Cowley Mini plant in Oxford for the announcement of the investment, which the Government said came following “extensive Government commitment and support”.

The Government did not give a figure for the announcement but said it would take total investment in the automotive sector to more than £6 billion in recent years.

5 things to start the day

1) Net zero and aging populations risk raising taxes, analysts warn | BNP Paribas said spending demands arising from various economic changes meant states were likely to be permanently larger.

2) Hunt warned shop tax will keep prices higher for longer | Business rates rise of more than £400m next year will increase costs, retailers say

3) Britain’s high streets risk becoming ‘looting ground’ for thieves, says John Lewis boss | Dame Sharon White calls for Royal Commission to review poor health of urban centers

4) Dubious statistics and even dubier forecasts are making policymaking difficult | Bad data undermines trust: it’s worth investing a little more to correct it

5) Apple braces for backlash after giving in to EU demands over iPhone chargers | The tech giant’s latest smartphone models will do away with their signature lightning charging cables.

What happened during the night?

Stock prices mostly rose in Asia after the latest economic data from China.

Benchmark indices fell in Hong Kong and Tokyo, but rose in Shanghai, Sydney and Seoul.

Over the weekend, China reported a slight rise in its own inflation data, suggesting that deflationary pressures seen as a sign of weakness in its slowing economy could be easing. The government is due to report August industrial production later in the week.

However, a rise in oil prices has added to concerns that inflation is not slowing as expected in the United States and other major economies.

That could lead the Federal Reserve and other central banks to keep interest rates high longer, hurting stock prices and other investments.

The Shanghai Composite Index gained 0.6 percent to 3,133.85, while Hong Kong’s Hang Seng lost 1.4 percent to 17,940.08.

Tokyo’s Nikkei 225 fell 0.2% to 32,544.04, while Seoul’s Kospi rose just 1 point to 2,548.67.

Australia’s S&P/ASX 200 added 0.1% to 7,161.50.