RARE PHOTOS: Cathay pacific cancels flights after problem with rolls royce engine business live | Vintage Vibes

Time for a recap.

Global markets have dropped today after weak US manufacturing data revived concerns about the health of America’s economy.

Economic activity in the manufacturing sector contracted in August for the fifth consecutive month, according to data from the Institute of Supply Management.

It found that new orders fell last month, and that both production and employment deteriorated.

Stocks have fallen sharply in New York, where the S&P 500 is currently down 1.3% and the Nasdaq Composite has lost 2.2%, as shares in tech stock such as Nvidia and Intel slide.

Oil has hit its lowest level since last December:

In the UK, there was record demand at an auction of govenment debt, as investors signalled their desire to hold British debt was undimmed.

Cathay Pacific has identified 15 Airbus A350 aircraft that need component replacements after a part failed on one of its Rolls-Royce engines minutes after takeoff from Hong Kong on Monday.

A second carrier, Singapore Airlines, said on Tuesday it was also inspecting the engines of its Airbus A350 aircraft “as a precautionary measure”.

Great Britain’s renewable energy auction has secured enough new clean electricity projects to power 11m UK homes after the Labour government made record funding available to suppliers.

Organised criminals are behind the recent rise in shoplifting and violence against shop workers rather than people stealing to survive, one of the UK’s largest grocery chains has told a parliamentary inquiry.

The trial into the “dieselgate” emissions scandal, which plunged Volkswagen into disrepute nine years ago, has opened with the German carmaker’s former chief executive appearing in the dock for the first time.

Workers in London have been slower to return to the office than those in other global cities such as Paris and New York, a report has found.

The London stock market is closed… and the blue-chip FTSE 100 share index has posted its biggest drop in two weeks.

The FTSE 100 has dropped by 0.8%, or 65 points, to 8298 points.

EasyJet is the top riser, up 2.7% – today’s drop in the oil price is good for its profits.

Rolls-Royce gained 1.7%, as traders concluded that the problem that hit a Cathay Pacific flight yesterday is not as serious as first thought.

Rightmove led the fallers, down 6.7%, a day after surging on hopes of a takeover approach from Australia’s Rea Group.