Business on the rebound

Get straight to the good stuff every day with the Multiply Minute; a lightning-quick round-up of the money news and how it affects you.

Strong start to 2020

The UK economy had a blast in January: the Purchasing Managers’ Index (PMI) hit 52.4 (anything over 50 represents growth). Output grew at the fastest rate for 16 months. It’s a promising sign that takes the pressure off the Bank of England, which is currently weighing up whether it needs to cut interest rates to nudge the economy along.

More millennial homeowners

More people aged 25-34 own their homes than rent them, for the first time in seven years. The UK now has 1.37 million owners in this age group (paywall) and 1.36 million tenants. We’re waiting with baited breath to see what this means for avocado sales.

Our last week in the EU

After official approval from the UK parliament, the Brexit withdrawal agreement was signed by EU leaders Ursula von der Leyen and Charles Michel. This formality marks the start of the seven-day countdown to our departure from the European Union.

HS2 risks were misjudged

The government spending watchdog has said the Department for Transport (DfT) and HS2 Ltd "have not adequately managed risks to taxpayer money". The National Audit Office (NAO) is soon to publish its independent review, based on which the government will decide whether or not to press ahead with the divisive high-speed rail project.

Mini nuclear reactors

They’re a 16th of the size of current nuclear power stations, can be transported in chunks on the back of a lorry, and could be up and running by 2029. Rolls-Royce has unveiled its new mini nuclear reactors, which it says could help generate more cheap, low-carbon electricity.