Supermarket wars: Big Four in big trouble as Tesco, Asda and Morrisons register more declines August 25, 2015 Tesco is still struggling to shrug off competition from the discount supermarkets, as data released this morning reveals yet more declines. While consumer spend within the grocery sector rose 0.9 per cent for the 12 weeks to 16 August, at Tesco it dropped by the same proportion. The price of a comparable basket of [...]
German business climate survey points to better growth August 25, 2015 A widely followed German business confidence survey has suggested that the Eurozone’s biggest economy is set for stronger growth ahead after a disappointing growth figure was confirmed today. The German-based Institute for Economic Research (IFO) said its business climate index, derived from a survey of around 7,000 firms in services, manufacturing and construction, edged up to [...]
Black Monday 2015: Here’s the market index which mattered most according to Google searches August 25, 2015 Black Monday may have started with the Chinese economy, but it was the Dow which ended up gaining most of the world's attention online. Search interest in the unfolding events on the world markets focused on the US index more than any other in the majority of countries around the globe, according to data from Google. [...]
Petrofac share price rises despite first half loss as Shetland Islands rack up August 25, 2015 Petrofac shares were up 2.3 per cent up in early morning trading, despite having posted a loss for the first half of 2015 thanks costs at its Laggan-Tormore project. The figures Having issued a profit warning last November, Petrofac reported revenues of $3.2bn (£2.1bn) for the six months to the end of June, 25 per [...]
Chinese economic slowdown: Devaluation and volatility should not put off Western retailers August 25, 2015 The surprise decision by the China's central bank to devalue its currency on three consecutive days has been linked to China’s state authorities’ attempts to boost its struggling economy. It is, however, unlikely to cause significant disruption to many Western retailers who are supplying in the region. The correction may have been a gesture to [...]
UK property: Britain’s struggling pub trade is yielding opportunities for supermarkets and residential developers August 25, 2015 The Grotto Inn on the top of Monument Hill in Weybridge was a thriving pub before falling on hard times three years ago. It was forced to call last orders after succumbing to competition from nearby bars and pubs and has lain empty since – its windows boarded up and beer taps gathering dust. [...]
The bubble finally bursts on Black Monday: Tea, walnuts, garlic, now the Chinese stock market August 25, 2015 Fermented tea, garlic, preserved walnuts, and mahogany furniture. All of these have soared in price at one stage in the last ten years as wealthy Chinese have looked for places to store their assets and make a quick buck. “There are relatively few investment options,” says Mark Williams of Capital Economics. The walnut [...]
Black Monday 2015: Shanghai shockwave wipes $1.6 trillion from global blue-chips in just one day August 25, 2015 More than one trillion dollars was wiped off the value of the world’s top companies yesterday, as panic on China’s trading floors sent shockwaves through global markets. Volatility soared to levels not seen since the aftermath of the financial crisis, prompted by renewed fears over the health of China’s economy and a near-nine per [...]
Fed policymaker Dennis Lockhart says US interest rates should be raised this year August 24, 2015 A senior Fed policymaker has called for US interest rates to be raised this year, despite the panic that has hit global markets over China's economy. Read more: Black Monday 2015: US stocks battered in biggest fall since 2011 Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, said in a speech today [...]
Black Monday 2015: US stocks battered in biggest fall since 2011 August 24, 2015 After briefly reversing the losses they suffered in early morning trading, US stocks dived back down again and experienced their biggest one-day fall in four years. Read more: Black Monday: Equities bloodbath continues on US markets as Dow Jones and S&P 500 plummet At close, Nasdaq was down 3.8 per cent at 4,526, while the Dow [...]