Helia Ebrahimi , Economics Correspondent

We spoke to Bank of England governor Andrew Bailey and started by asking him if raising interest rates during a decline in living standards is a mistake.

It’s the worst squeeze on incomes since records began 30 years ago: a double whammy of soaring energy bills and rocketing inflation.

Tomorrow the new cap on energy prices is to be announced.

It’s not just the man living at No 10 who is having problems, it’s also at No11, where the chancellor faces a higher debt bill because of soaring inflation.

Prices have soared by their fastest rate for 30 years as inflation hit 5.4%, its highest since 1992. 

There was new confirmation of the crisis in the energy market with the news today that yet another supplier, Together Energy, has gone out of business.

Novak Djokovic isn’t the only person in the world of tennis to fall foul of Covid rules. 

Amid the many warnings over the looming cost of living crunch, it’s those on the lowest incomes who will be hardest hit. 

The argument about how best to respond to looming rises in household fuel bills intensified today.

Michael Gove said leaseholders would no longer have to bear the costs themselves, saying he was ready to “impose a solution on them in law”. 

Fears of rising inflation among businesses have hit an all time high and are threatening to stall Britain’s economic recovery.  

She was once feted as the world’s youngest female self made billionaire who promised that her blood testing start-up would transform the future of healthcare but now Elizabeth Holmes has been found guilty of four counts of fraud – in a case which came to symbolise Silicon Valley’s ethos of hype and corporate greed.

This year has been a struggle for many people who’ve lost jobs and livelihoods to the pandemic – now a leading think tank is warning that 2022 will be “the year of the squeeze”.

Pubs and nightclubs in England have welcomed the decision to let them stay open for New Year’s Eve, calling it a lifeline. 

Struggling hospitality firms have broadly welcomed the chancellor’s new package of support, which includes grants of up to £6,000 and a statutory sick pay rebate scheme.