Britons have carried on spending despite their “Brexit fatigue,” Tesco said on Wednesday, as a forecast-beating rise in profits confirmed a turnaround at Britain’s biggest retailer.
News that the eurozone economy grew more than anticipated in the first quarter failed to stir stocks on Tuesday as downbeat Chinese data soured sentiment.
Debenhams plans to close 22 stores next year, putting about 1,200 jobs at risk, under a scheme designed to put the ailing British retailer on a stable financial footing. Debenhams’ lenders took control of the retailer earlier this month in an effort to keep stores open, a deal which wiped out the company’s shareholders,
The 5th UAE-UK Joint Economic Committee (JEC) was held in London with the participation of a high-level official delegation from the UAE, headed by Engineer Mohammed Bin Abdul Aziz Al Shehhi, Undersecretary of Economic Affairs in the Ministry of Economy, on behalf of Engineer Sultan Bin Saeed Al Mansoori, UAE Minister of Economy.
London Metal Exchange’s (LME) storage problems may badly affect small tin markets, according to analysts. Is the exchange’s physical storage function in danger of slipping into the shadows? That’s the question at the heart of the LME’s latest public discussion paper on its troublesome warehouse network.
The weeks before Easter are usually some of the busiest of the year for bankers, lawyers and consultants in the City of London, as clients rush to get deals done before a run of public holidays. But this year comparatively little has been happening.
Japanese businesses with links to Britain say they have no immediate plans to flee the country as its government seeks to hammer out terms of its exit from the European Union, a Reuters poll found. Many said they would take a «wait-and-see» stance toward Brexit.
Britain’s Brexit-bound economy unexpectedly grew in February, helped by manufacturers rushing to meet orders from clients who are stockpiling goods ahead of the country’s break from the European Union, official data showed. While still sluggish, the economy expanded by 0.2 per cent from January, the Office for National Statistics said. Economists in a Reuters poll had expected zero growth.
Consumer goods group Unilever is on track to meet its performance goals this year after strong sales in emerging markets led to a better-than-expected start to 2019. The maker of Dove soap and Ben & Jerry’s ice cream said it still expects underlying sales growth in the lower half of a 3 to 5 per cent range this year.
Gold inched up on Monday, moving away from a near 4-month trough touched in the previous session, drawing support from a drop in equities and a jump in crude oil prices. Spot gold was up 0.3 per cent at $1,278.74 per ounce, as of 0927 GMT, having touched $1,270.63 in the previous session - its lowest since Dec.27, 2018.