Trump 2020? Firms haven’t felt this gloomy since the financial crisis July 15, 2019 Global businesses were at their gloomiest about business activity and profits since the financial crisis in June, a new survey has shown. Read more: China growth slows to 27-year low Bosses were increasingly anxious about US trade tensions with China, Mexico and the European Union, as well as the possible reelection of President Donald Trump [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
China growth slows to 27-year low as trade war pressure take its toll July 15, 2019 China’s economic growth slowed down to a 27-year low during the second quarter of 2019, as trade war tensions with the US escalated. Gross domestic product (GDP) in the country climbed 6.2 per cent in the three months to the end of June, falling from 6.4 per cent in the first quarter and marking the [...]
British luxury fashion sales break £5bn barrier July 15, 2019 The British luxury fashion industry saw sales break through the £5bn barrier in the past year, driven by the rising popularity of newer, younger brands. Sales hit £5.25bn as designer brands established after 1990, such as Lulu Guinness and Stella McCartney, saw average turnover growth of seven per cent. Read more: Private equity firm buys [...]
Trade tensions dent China’s exports and imports in June July 12, 2019 China’s exports and imports fell last month, as a tariff standoff with the US took its toll on the economy. The Chinese trading outlook waned in June, according to new figures that underline the country’s current growth troubles. Read more: Hunt is right to take a firm line on China China’s customs department reported today [...]
Thomas Cook: How did it end up like this? July 12, 2019 Companies in the travel industry have endured a turbulent year – and none more than Thomas Cook. Read more: Thomas Cook shares plunge to record low as investors face being wiped out The embattled firm this morning said it is closing in on a bailout deal which would see Chinese firm Fosun give it £750m [...]
Turnaround time for struggling food giant July 12, 2019 By Rodney Hobson from interactive investor. The proof of the pudding lies with a new chief who looks set to sell off poor performers to boost spending on premium lines. A heavy burden lies on the shoulders of Miguel Patricio, who took over as chief executive officer of food and beverage giant Kraft Heinz (NASDAQ:KHC)last month. The reputation of [...]
Daimler in fourth profit warning of the year over airbags and diesel emissions July 12, 2019 Daimler, the German car giant that owns Mercedes, this morning issued its fourth profit warning of the year after it unearthed fresh financial risks surrounding its diesel emissions scandal. The car maker made a similar warning on June 23, but it has reassessed the risk of fines from court battles and government measures. These have [...]
Thomas Cook shares hit record low amid £750m takeover talks with Fosun July 12, 2019 Thomas Cook’s shares sunk to their lowest price ever this morning as it confirmed it is in advanced talks with Fosun over a proposed £750m deal which would give the Chinese firm majority ownership over its tour operator business. Read more: Thomas Cook engages in Fosun talks to save company The deal would also give [...]
German stock market outlook 2019: is the economic upswing over? July 11, 2019 Concerns over the strength of the German economy are growing. A steady upswing of the eurozone’s powerhouse may be over. The weaker economic growth expected this year is considered “a wake-up call” for the government. Let’s find out what to expect from the German stock market news in light of gloomy official figures. Stormy times [...]