Sterling tumbled to a fresh 37-year low against the dollar and a 17-month trough on the euro after weaker-than-expected retail sales figures issued today. Meanwhile, the euro rose to as high as 87.66 pence, its highest level since Feb 2021, It was last up 0.39 percent at 97.52 pence. Retail sales volumes dropped 1.6 percent […]
John Lewis has again warned its staff there may not be a bonus this year, citing a “uniquely uncertain” economic outlook. In her letter to more than 70,000 partners, who own the business, chair Dame Sharon White said that a successful Christmas was more important than ever this year. “We will need a substantial strengthening […]
Chancellor Kwasi Kwarteng will deliver a mini Budget on September 23 after MPs agreed to delay the start of their “party conference recess”. Kwarteng will commit Liz Truss’s government to a radical programme to boost the UK’s growth rate, including deregulation and tax cuts. Truss, who will be in the US next week attending the […]
The UK competition regulator has opened an in-depth investigation into Microsoft’s $75bn acquisition of video game maker Activision Blizzard, the creator of blockbuster Call of Duty. The Competition and Markets Authority on Thursday referred the tie-up for a phase 2 probe, having raised concerns that the deal could hurt rivals such as Sony and present […]
Adobe has agreed to buy business-to-business design company Figma for $20bn in cash and stock, as the software giant looks to bolster its creative tools offering. San Francisco-based Figma, founded by Dylan Field and Evan Wallace in 2012, allows software developers and designers to collaborate remotely and design everything from slides for presentations to user […]
Breadcrumb Trail Links PMN Business Credit Suisse Group AG is financing a foray into a niche corner of the debt markets used to fund real estate at a time when UK property is feeling the strain from rising interest rates. Author of the article: Bloomberg News Adeola Eribake, Carmen Arroyo and Jack Sidders l3zquwr2}iekkkxm7ev9{b2f_media_dl_1.png Bloomberg […]
Breadcrumb Trail Links PMN Business Author of the article: Article content BEIJING — China’s fiscal revenue growth speeded up in the first eight months compared with the January-July period, finance ministry data showed on Friday, indicating that local fiscal strains eased slightly although revenue from land sales shrank. Fiscal revenue grew 3.7% in January-August from […]
Article content MUMBAI — Indian government bonds see their worst week in over three months, as traders turn cautious with rate hike fears gripping the market, and lack of any development on the much-anticipated inclusion of local bonds in global indexes. The benchmark Indian 10-year government bond yield ended at 7.2660%, after closing at 7.2386% […]