The International Monetary Fund warned on China’s strategy for economic expansion, saying that Beijing was putting a higher priority on growth than economic output. The Chinese government have pledged to double the size of its economy between 2010 and 2020, with the IMF increasing its forecast for 2010 to 6.7 percent. However, it warned on Wednesday that debt as a proportion of gross domestic product was likely to rise from 235 percent to almost 300 percent by 2022. “International experience suggests that China’s credit growth is on a dangerous trajectory, with increasing risks of a disruptive adjustment and/or a marked growth slowdown,” the IMF said. Lucy MacDonald of Allianz Global Investors told the BBC that the levels of growth in China were at a “totally new territory”, adding that the risk of defaulting is higher because of how closed the economy is.  

Unemployment in the UK fell to 4.4 percent in the second quarter of 2017, the lowest level since 1975.

Unemployment for the quarter fell by 57,000 for the three months to June, marking the lowest level in over 30 years.

In addition, the figures released by the Office for National Statistics (ONS) revealed wage growth increased by 2.1 percent compared with a year previously. This marked a slight increase from 2 percent for the month before.

Ruth Gregory, UK economist at Capital Economics, said: “The latest labour market figures provided some signs that the tightening in the labour market may be leading to a recovery in wage growth at long last.”

Nevertheless, high inflation levels continue to impact upon real wages across the U.K. Inflation continues to hit 2.6 percent, with real earnings falling by 0.5 percent.

“The employment picture remains strong, with a new record high employment rate and another fall in the unemployment rate. Despite the strong jobs picture, however, real earnings continue to decline,” commented Office for National Statistics senior labour market statistician Matt Hughes.

Specifically, jobs were created in the construction, accommodation and food sectors, alongside the transport and storage industries.

Figures revealed that those on controversial ‘zero-hour’ contracts had also lessened, an encouraging development for many seeking more work stability.

“The number of workers born elsewhere in the EU continues to increase, but the annual rate of change has slowed markedly,” Hughes added.

Whilst Prime Minister Theresa May announced back in January her intention for the U.K to leave the single market as part of Brexit negotiations, it remains to be seen what the final agreement regarding EU citizens residing and working in the U.K will be.

Brexit negotiations continue to play out in Brussels, with key issues of migration, customs and trade being a key concern for both parties.

The latest figures caused the pound sterling to bounce 1 cent up against the dollar as the market reacted to the news.

Sweet manufacturer Nestlé have announced they will be removing the nut from the top of their Walnut Whip sweets, in the latest sign of ‘shrinkflation’.

The price of nuts has risen exponentially, causing Nestlé to remove the walnut from the top in its new versions of the sweets.

‘Shrinkflation’ has led to the downsizing of thousands of products as the cost of ingredients soar, meaning consumers are paying the same price for smaller products. According to figures from the Office for National Statistics, over 2,500 every day household products have shrunk in size over the past five years but continue to be sold for the same price.

Whilst chocolate bars have been subject to this controversy for some time, the ONS found that toilet rolls, coffee and fruit juice were also being sold in smaller packet sizes.

Indian buyers have become the second largest purchaser in Prime Central London, following a change in legislation increasing the amount of capital buyers can bring into the UK to $250,000 per person. Indian buyers now account for 22 percent of sales, according to London Central Portfolio’s latest sales audit, representing a 5 percent increase from two years ago. In terms of value, Indian buyers represented a third of the total spend over the last 12 months, with their average purchase price of £1.77 million being slightly higher than the market average of £1.6 million. In contrast, buyers from continental Europe have fallen significantly due to increased uncertainty following the UK’s Brexit vote, from 24 percent two years ago to 7 percent over the last 12 months South East Asian buyers took top spot as the largest buying population, representing 36 percent of all purchases. “London has remained attractive to international buyers as a safe haven asset class with the rule of law and proper title to property. As India has become a more challenging place to invest in with high loan interest rates and rising prices in the main urban centres, together with increasing global political and economic uncertainty, Indian buyers with a larger amount of capital to spend have increasingly turned to London as an investment destination of choice,” says Naomi Heaton, CEO of London Central Portfolio. “As sterling has weakened against foreign currencies, representing a 20 percent discount for USD denominated investors compared with two years ago, we are now seeing Indian buyers becoming an increasingly dominant force in the marketplace.”