JPMorgan misses profit expectations as bank boss warns of ‘large fiscal deficits’ and ‘sticky inflation’ - as it happened

John Healey should “stay the course” and continue repairing the UK’s public finances, the International Monetary Fund’s top economist has said, after the fund lifted its growth forecast for Britain.

Little more than a fortnight before Healey’s first budget, Silvana Tenreyro , the IMF’s economic counsellor, said the UK “stands out” among G7 countries in having a plan to narrow its deficit.

“The UK has already started a consolidation process,” she said. “The message for the UK is simply, stay the course.”

The owner of Phase Eight, Hobbs and Whistles has said its websites and IT systems have been hit by a cyber-attack that may have compromised customers’ personal data.

The South-African listed TFG London said it identified the “cybersecurity incident” at the three UK-based retail chains on Sunday. Its two other UK brands, Inside Story and White Stuff, are not affected.

TFG said its stores had stayed open and trading but some of its IT systems “remain unavailable” and it had paused all online orders as a “precautionary measure”.

An “investigation is ongoing, including establishing whether any personal or other sensitive information has been compromised,” the company said.

The UK’s cost of living squeeze means fewer people plan to ringfence money for holidays abroad next year, the travel industry has warned.

The new Your First Home programme for first-time buyers could increase the number of houses British builder Bellway produces each year by 10%, its boss has said.