Mon. Jan 25th, 2021

UK companies endure sharpest downturn since Brexit vote – business live

Rolling news coverage of markets, economics and business as purchasing managers indices show economy in decline

12.27pm GMT

Just after midday, the FTSE 100 has gained ground slightly. It’s now up by 1.2%, as traders take some comfort from positive rhetoric on trade from China’s Xi Jinping.

Glencore is among the biggest winners, with the commodities miner up by 3.3%. British Gas owner Centrica has also risen by 3.2%.

12.15pm GMT

TSB now says the payment problems have been resolved.

Overnight some payments were delayed in and out of TSB accounts. This has now been resolved and the payments have been completed. We apologise for any inconvenience this has caused.

It’s beyond belief that customers have experienced more problems as a result of yet another IT glitch from TSB, hot on the heels of a damning report into the bank’s system failure last year.

With banks increasingly trying to move customers online, these IT glitches are still far too common across the industry, and it’s clear that people need access to cash as a back-up.

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