Rolling coverage of the latest economic and financial news, as Bank of England policymakers testify to the Treasury committee

• BoE governor ‘very uneasy’ about rising inflation
• UK diesel prices hit 150p per litre last weekend
• Oatly shares plunge after revenue warning

Earlier:

• Shell to move tax residency to UK in shake-up
• China home prices fall…property slowdown threatens economic outlook
• Japan’s GDP shrank faster than expected in Q3

Stuart Joyner, specialist sales at finance brokers Redburn, says Shell’s move is a ‘clear post Brexit win’ for the UK:

“Royal Dutch Shell has this morning announced a welcome proposal to unify the company’s A and B share structure. The company plans a shareholder vote on December 10 to approve its plan.

It will allow faster buybacks and bring Shell’s tax residency into line with its country of incorporation in the United Kingdom, where it will hold board and executive committee meetings, and base senior management. This is a clear post Brexit win for the UK. It is unclear what leaving the Netherlands will mean for the Dutch litigation process given sizeable operations will remain.

“This news has no negative consequences for Milieudefensie’s climate case against Shell.

Rather, moving to the United Kingdom opens up a new front, including for future cases.”