Food for thought: Restaurant numbers drop as Chinese, Indian and Italian cuisines struggle August 19, 2019 Chinese, Indian and Italian cuisine might be the staple of many Saturday night takeaways, but new evidence suggests that the beloved British favourites are bearing the brunt of a slowdown in the casual dining sector. Read more: Revealed: These 10 London restaurants have the best mobile reception An average of 18 restaurants have shut per [...]
British Steel buyout: Questions linger as Turkish military pension fund swoops in August 18, 2019 Government officials will this week start exclusive talks with their preferred buyer for stricken industrial firm British Steel. Ataer Holdings, a subsidiary of the Turkish military’s pension fund which is known as Oyak, reached a provisional deal to buy the firm out of insolvency at the end of last week. Read more: British Steel’s collapse [...]
Danske Bank thinks US Fed will slash rates to one per cent by March August 16, 2019 Denmark’s biggest bank has predicted that the US Federal Reserve will slash its interest rate down to one per cent by March 2020. Danske Bank said it expects five more 25 basis point (0.25 percentage point) cuts between now and the Fed’s March 2020 meeting to “reflate the economy and markets”. Read more: Markets drop [...]
US stock markets jump after China hints at stimulus August 16, 2019 US stock markets have opened significantly higher after China sewed hopes of more stimulus and a rally in government bonds slowed down. Read more: FTSE 100 follows European stocks upwards after it reopens The tech-heavy Nasdaq index was the biggest climber, rising one per cent shortly after the opening bell. The S&P 500 had risen [...]
Hong Kong economy grows less than expected as recession fears hit August 16, 2019 Hong Kong’s economy grew less than expected at just 0.5 per cent year-on-year for the second quarter, the government revealed on Friday. It comes amid growing tensions between the US and China as the trade war rumbles on and on the back of continued unrest in the financial hub, igniting fears it could tip into [...]
Asian stock markets buoyant despite rising trade tension August 16, 2019 The main Asian stock markets have climbed overnight despite the raging US-China trade war after Beijing hinted at stimulus for its economy. Read more: Markets drop as US and China enter fierce war of words Investors’ spirits were lifted after China’s state planning office said it would act to increase disposable income. China’s Shanghai composite [...]
Markets drop as US and China enter fierce war of words August 15, 2019 A fierce war of words between China and the US broke out today after Beijing vowed to strike back over the 10 per cent tariffs the Trump administration is set to apply to $300bn of Chinese goods. Read more: Recession warning lights flash red as US and UK ‘yield curves’ invert China’s finance ministry said [...]
Alibaba beats expectations as revenues surge August 15, 2019 Chinese online shopping giant Alibaba trumped market expectations this afternoon, providing some relief for Asian investors in a week that has seen markets rocked by the US-China trade war and fears of a global recession. The retail group posted better-than-expected quarterly results after revenues from its cloud and e-commerce operations surged, sending shares up more [...]
European stocks back in red on China trade threat to US August 15, 2019 European stock markets have fallen firmly into the red after China’s finance ministry said the government has to retaliate against the latest US tariffs on $300bn worth of its goods. Read more: Recession warning lights flash red as UK and US ‘yield curves’ invert The ministry also said the move by US President Donald Trump [...]
Carlsberg boosts earnings thanks to higher sales of premium beers August 15, 2019 Carlsberg boosted earnings and improved its operating margins in the first half of the year, thanks to greater sales of its more expensive beers. The Danish brewer said its sales increased 6.5 per cent in the first-half today, despite declining sales in its key market Russia. Russia sales fell three per cent due to price [...]