UK retail sales unexpectedly fall as economy slows November 14, 2019 The amount of goods sold in UK shops unexpectedly fell in October, official figures have shown, in the latest sign that the economy is slowing. The weak performance will be a concern to retailers as the sector heads towards Christmas, especially given that the period covered Halloween, a traditionally busy time for shops. Read more: [...]
National Grid beats half year expectations amid New York dispute November 14, 2019 UK energy supplier National Grid used its half year results to say that it is “confident” it would be able to address issues raised in a letter from New York governor Andrew Cuomo earlier this week. The company is facing the risk of losing its license to operate its gas franchise in New York City [...]
Asian markets sink further as Hong Kong protests escalate November 14, 2019 Asian markets have closed lower as anti-government protests continued to paralyse Hong Kong, with escalating violence forcing schools and universities to close and disrupting transport systems in the financial hub. Police fired tear gas at protesters blockading the entrance to a major tunnel linking Hong Kong island to the northern part of the city, while [...]
Premier Oil shares jump as it predicts higher annual production November 14, 2019 Premier Oil said their full year production would be at the upper end of their previous guidance in this morning’s trading update, prompting shares to jump nearly three per cent. Read more: Premier Oil prepares to sell Mexican field stake as profits jump The figures The company said that total output for the year would [...]
Germany beats recession fears in third quarter – but only just November 14, 2019 Germany narrowly avoided falling into recession in the third quarter thanks to unexpectedly strong consumer spending, data showed today. Europe’s largest economy thwarted expectations of a contraction as it eked out a 0.1 per cent quarter-on-quarter growth rate. Read more: Eurozone industrial production beats predictions but Germany remains weak The country’s GDP posted a 0.5 [...]
Cobham buyer Advent ‘mulls £2.5bn float of industrials firm Rubix’ November 13, 2019 The private equity giant which is in the process of buying British defence firm Cobham for £4bn is said to be mulling a float of another of its UK assets. Advent International, the US investment firm, has reportedly hired advisers to prepare the stock market debut of Rubix Group, a distributor of industrial repair kits, [...]
Alibaba poised to launch record-breaking $13.4bn Hong Kong listing November 13, 2019 Alibaba has launched the share sale for its Hong Kong listing, in a $13.4bn (£10.4bn) fundraising effort that’s set to be the biggest cross-border secondary listing ever. The Chinese online retail giant opened the books for institutional investors looking to buy the shares during trading in New York on Wednesday after winning approval for the [...]
Fed chair Jay Powell foresees ‘sustained expansion’ for economy November 13, 2019 US Federal Reserve chairman Jay Powell has said he foresees a “sustained expansion” of the country’s economy, in a testimony to Congress a day after President Trump ripped into the central bank. However, Powell said if a downturn should occur then the government would need to fight it with fiscal policy. Yet he said this [...]
Gap between Tory and Labour tax plans hits its biggest in a generation November 13, 2019 The Conservatives and Labour’s plans for taxes are the most different in a generation, a new report has said, with a “tax pledge gap” of £60bn set to become a key election battleground. Labour is expected to call for tax increases of at least £50bn a year in its manifesto, while the Conservatives’ are likely [...]
De Beers diamond sales improve despite market challenges November 13, 2019 Anglo American announced this morning that sales at diamond specialists De Beers had hit their highest level since June, but remained lower than normal for this time of year. De Beers sold $390m (£303.8m) of rough diamonds in November, a considerable jump on its previous sale of $297m, but less than the $442 achieved at [...]