Marriott has revealed that the data of 500 million guests might have been exposed in a data breach.

The hotels group said reservations at its Starwood properties, which include the Park Lane Sheraton Grand, Westbury Mayfair and Le Méridien Piccadilly, had been affected.

The database in question held information including passport numbers, dates of births, names, addresses and phone numbers for 327 million guests. Payment card numbers and expiration dates were also stored for some. For the remaining guests affected, Marriott said “the information was limited to name and sometimes other data such as mailing address, email address, or other information”.

Adam French, consumer rights expert at Which?, said:

This data breach is on a colossal scale and it will be of great concern to Marriott customers. It is vital that Marriott provides clear information on what has happened and helps anyone who has been negatively impacted.

Anyone worried they could be affected should consider changing their online passwords, monitor bank and other online accounts as well as their credit report to guard against potential identity fraud. Also, be wary of emails regarding the breach, as scammers may try and take advantage of it.

Carlos Ghosn, the sacked former chairman of Nissan, has been detained without charge for an additional 10 days at a Tokyo detention centre.

It follows his shock arrest nearly two weeks ago at a Tokyo airport over allegations of financial misconduct.

Over in Italy, figures show the economy shrank by 0.1% in the third quarter, revised down from a first estimate of zero growth.

The annual rate of eurozone inflation fell to 2% in November, from 2.2% in October, according to the “flash” estimate from statistics office Eurostat.

It was bang in line with economists’ expectations, as energy and food prices rose at a slower pace this month than in October.

Britain’s housing market will remain subdued in the coming months according to the forecasting group the EY Item Club, as Brexit woes and squeezed incomes deter people from making major spending decisions.

Weakness in London - where buyers are finding themselves priced out of the market after years of steep rises - is dragging the national picture down, Item says. It expects UK house prices to rise by 2% this year and in 2019.

Howard Archer, chief economic advisor to Item, says:

We suspect that the housing market will remain stuck in low gear over the coming months.

The fundamentals for house buyers are likely to remain challenging. Consumers have faced an extended serious squeeze on purchasing power, which is only gradually easing. Additionally, housing market activity remains hampered by relatively fragile consumer confidence and a limited willingness to engage in major transactions.

Caution over making major purchases may well be magnified by current heightened uncertainties over Brexit. House buyers may also be concerned about further interest rate hikes over the coming months – even if they are likely to be gradual and limited.

Investors are closely watching events at the G20 meeting in Argentina, and particularly any developments in the US-China trade saga.

Michael Hewson, chief market analyst at CMC Markets, says the tensions between the world’s two largest economies are weighing on sentiment like a “dark cloud”.

He adds:

President Trump has already said he is close to a deal on trade with China, he’s just not sure that he wants to do it, which raised some optimism that some form of fudged compromise might come out of the weekend meeting between President’s Trump and Xi.

The Chinese foreign ministry has said this morning it hopes that the US can show sincerity and meet China halfway in talks. We shall see, but as the song says it takes two to tango, and it’s not immediately clear that the US wants to.

With expectations low, a positive outcome would be a pledge to delay the January increase in tariffs with a view to further discussions, a pledge to retain the current status quo, if you like. Further escalations would be unwelcome given the slowdowns we are already seeing in most global benchmark economic indicators.

European indices are red across the board this morning, as trade tensions between the US and China persist.

The FTSE is leading the falls, down 0.6% or 41 points. Weak manufacturing figures from China - which showed activity stalled in November - are also weighing on investor minds.

The scores so far:

• FTSE 100: -0.6% at 6,998

• Germany’s DAX: -0.5% at 11,241

• France’s CAC: -0.4% at 4,985

• Italy’s FTSE MIB: -0.2% at 19,121

• Spain’s IBEX: -0.4% at 9,066

• Europe’s STOXX 600: -0.4% at 357

Mike Lynch, the former chief executive and founder of Autonomy, has been charged with fraud in the US.

The charge relates to the $11bn sale of the firm to computer giant Hewlett-Packard in 2011, a deal which handed Lynch $815m. It is alleged that between 2009 and 2011, Lynch and other executives artificially inflated Autonomy’s revenues.

The charges include 14 counts of conspiracy and fraud and carry a maximum penalty of 20 years in prison.

The case was filed by the US Department of Justice in federal court in San Francisco on Thursday following a six-year investigation.

Stephen Chamberlain, a former Autonomy finance executive, has also been charged and Sushovan Hussain, the company’s former chief financial officer, was convicted on similar charges earlier this year and is seeking to overturn the ruling.

Lawyers for Lynch called the developments a “travesty of justice” according to a report by the FT and said the software entrepreneur would “vigorously defend the charges against him”.

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

After hitting a five-year low of 1.6% in October, UK house price growth picked up to 1.9% in November according to Nationwide.

The average price of a UK home is now £214,044, after edging up 0.3% over the past month.

But Nationwide’s chief economist, Robert Gardner, says an uncertain economic backdrop is likely to weigh on demand in the coming months.

Looking forward, much will depend on how broader economic conditions evolve. In the near term, the squeeze on household budgets and the uncertain economic outlook is likely to continue to dampen demand, even though borrowing costs remain low and the unemployment rate is near 40-year lows.

If the uncertainty lifts in the months ahead and employment continues to rise, there is scope for activity to pick-up through next year. The squeeze on household incomes is already moderating and policymakers have signalled that, if the economy performs as they expect, interest rates are only expected to rise at a modest pace and to a limited extent in the years ahead.

Also coming up today:

• Investors will be keeping a close eye on the G20 meeting of world leaders in Argentina, with a particular focus on any developments between the US and China

• At 10am UK time, the “flash” estimate for eurozone inflation in November will be published , alongside unemployment data for the single currency bloc