GOOD DAY FOR: That ’70s economy, as home sales in the U.K. fell to their lowest level in at least 30 years. British real estate agents sold an average of 11.5 homes each in the quarter—the lowest rate since the Royal Institution of Chartered Surveyors started counting in 1978. With financial crises dominating the news, said real estate agent Kim Turner at Bective Leslie Marsh in London, "buyers are incredibly wary of the market and prices.” (Bloomberg)
BAD DAY FOR: Sealing the deal, after Waste Management, United Technologies Corp., and three other companies all withdrew buyout offers for smaller rivals Monday. The offers, worth a total of $11.39 billion, fell apart as the cost of raising financing and obtaining debt rose in the current financial turmoil. (The New York Times)
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Will the public buy Rachel Reeves’ tax rises?Today’s Big Question The Chancellor refused to rule out tax increases in her televised address, and is set to reverse pledges made in the election manifesto
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