Shares in European luxury and drinks companies rose at the open on Thursday after new tariffs slapped by the United States in retaliation for illegal EU aircraft subsidies were in line with expectations or less than feared, traders said.
Oil futures were largely flat on Thursday, reversing gains made earlier in the day, as fears over the worsening global economic outlook that hit prices hard in the previous session offset modest hopes for progress in resolving the U.S.-China trade war.
Ted Baker Plc on Thursday warned yet again that its full-year profit would be hurt, as warmer weather in September, sharp discounting across the industry and tepid consumer demand takes its toll on British retailers.
H&M , the world’s second-biggest fashion retailer, reported on Thursday its first quarterly rise in pretax profit in over two years and said efforts to meet rapid changes in its industry were on track.
(Bloomberg) — De Beers’s diamond buyers continued to take the rare opportunity to reject stones from the biggest supplier as the company extended almost unprecedented flexibility to ease a growing crisis.De Beers sold just $295 million of diamonds this month, 39% less than a year earlier. The sale is the latest in a series of weak offerings as many customers have refused to buy amid concerns they couldn’t make money on the rough diamonds. The Anglo American Plc unit’s sales this year are down more than $1 billion from the same time in 2018.De Beers sells its gems through 10 …read more […]
British fashion retailer Ted Baker Plc reported a first-half pretax loss and warned of a slow start to the second-half of the year on Thursday, hurt by unseasonably warm weather, heavy discounting by competitors and weak consumer demand.
H&M , the world’s second-biggest fashion retailer, reported on Thursday a rise in fiscal third-quarter pretax profit that beat market expectations and said sales grew 8% in September in local currencies.
The British Civil Aviation Authority (CAA) said 25 flights are scheduled to fly on Thursday to return another 5,000 people to the country in the tenth day of the repatriation operation following the collapse of travel group Thomas Cook.
(Bloomberg) — India’s shadow banking crisis has sucked in more financial firms this week, eroding a stock market rally that’s been driven by a surprise $20 billion tax cut package.The S&P BSE Sensex Index fell 0.5% on Thursday, set for its fourth day of losses, ending a surge since the Sept. 20 announcement of the tax cuts. Financial stocks, which account for 45% of the benchmark index, contributed the most to the declines since late last week, according to data compiled by Bloomberg.Debt concerns at lenders including Indiabulls Housing Finance Ltd. and a co-operative bank, and worries a cleanup in …read more […]
Canadian miner Iamgold Corp has partially halted work at its Rosebel gold mine in Suriname after an influx of illegal miners blockaded operations, local media reported on Thursday. This is the second shutdown to hit the mine since August, when operations were suspended after an illegal miner was killed during a clash with police. Iamgold last week said it had resumed mining operations at Rosebel’s southern pits, with a full ramp-up expected within roughly 30 days. …read more […]
A wake-up call from the U.S. heartland has spooked Wall Street by raising fears of a recession that will push equities into a correction.
A wake-up call from the U.S. heartland has spooked Wall Street by raising fears of a recession that will push equities into a correction. After Tuesday’s dire picture on manufacturing from the Institute for Supply Management (ISM), which rattled the market, investors await Thursday’s ISM services report and Friday’s employment report to confirm or quash recession worries. “I am more concerned at this point than I have been at any point in the entire year … The key ingredient is when the business recession impacts the consumer and we get a total recession,” said Phil Blancato, chief executive …read more […]
A wake-up call from the U.S. heartland has spooked Wall Street by raising fears of a recession that will push equities into a correction. After Tuesday’s dire picture on manufacturing from the Institute for Supply Management (ISM), which rattled the market, investors await Thursday’s ISM services report and Friday’s employment report to confirm or quash recession worries. “I am more concerned at this point than I have been at any point in the entire year … The key ingredient is when the business recession impacts the consumer and we get a total recession,” said Phil Blancato, chief executive …read more […]
Ride-hailing firm Uber Technologies Inc said it has launched an app to connect workers with businesses needing to fill available shifts.
Spot gold was steady at $1,498.91 per ounce, as of 0410 GMT, while U.S. gold futures were down 0.2% at $1,504.80 an ounce. “Gold is clearly being used as a hedge against volatility in other markets,” said OANDA analyst Jeffrey Halley. …read more […]
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