US economy unaffected by Brexit vote, but attention turns to presidential election July 26, 2016 Fresh economic data from the US has shown the world's largest economy is feeling little fallout from the UK's vote to leave the EU. Both consumer confidence and business activity in the dominant services sector were "virtually unchanged" between June and July, figures out this afternoon revealed, although caution remained the prevailing sentiment as the US winds [...]
Sales of McDonald’s all-day breakfast menu could be on the slide as US same-store sales slip July 26, 2016 Shares in global fast food giant McDonald's have slipped by more than three per cent in the pre-market today as investors fear the all-day breakfast boost may coming to an end. McDonald's posted earnings of $1.25 per share on sales down by four per cent to $6.26bn (£4.7bn), falling short of a Thomson Reuters analyst poll that expected earnings of [...]
Bank of Japan and Shinzo Abe prepare for next round of stimulus in fight for growth July 26, 2016 Japan's policymakers are gearing up to unleash a new round of massive economic stimulus over the next few weeks in a push to bust the economy out of its low-growth low-inflation malaise. The action will get underway this week in a crunch central bank meeting where markets expect the Bank of Japan (BoJ) to deliver [...]
Sprint shares accelerate after customer boost July 25, 2016 Losses at Sprint, the fourth largest US mobile network, have widened over the last quarter despite adding more customers than it has for nine years. Sprint, 80 per cent owned by Japan’s SoftBank, reported a net loss of $302m (£229m), or eight cents per share, in the first quarter ended 30 June, from $20m the year [...]
Top credit ratings agency declares European Union “unsustainable” July 25, 2016 Standard and Poor's (S&P), one of the world's top credit ratings agencies, has branded the current European Union "unsustainable" as it outlined the urgent need for reform. The UK's vote to sever ties with the other 27 members of the EU is just the latest example of dismay with the system of "pooled" sovereignty where [...]
German businesses aren’t that fussed by Brexit as confidence holds up after shock vote July 25, 2016 Business confidence in Germany dipped slightly in July, though firms in Europe's largest economy showed little sign the EU referendum would weigh on their performance over the coming months. The benchmark Ifo business climate survey showed the headline measure of confidence edged back from 108.7 to 108.3 over the past month. Expectations about the future [...]
Loan trouble for China’s private sector firms raises questions over rebalancing July 25, 2016 China's top economic planner has warned difficulties securing formal loans for the country's private sector firms poses a serious hurdle to its economic rebalancing. Xu Kunlin, the head of China's National Development Reform Commission (NDRC), the state planning agency, told Reuters a sharp slowdown in private investment could sap momentum from the economy and hinted it should be made [...]
Steel overcapacity recognised by G20 amid global crisis July 24, 2016 The world's biggest economies recognised the need for an international response to the problems wrought by industrial overcapacity, particularly in the embattled steel sector. A statement that coincided with the meeting of G20 finance officials said: "We recognise that excess capacity in steel and other industries is a global issue which requires collective responses." Read more: Industry veteran to [...]
Munich shopping centre attack: What we know so far about last night’s shooting July 23, 2016 Yesterday evening a shooter opened fire on shoppers at the Olympia-Einkaufszentrum mall in Munich's north-western suburb of Moosach. Police said this afternoon the attack was not a terrorist incident and was in fact a "classic shooting rampage". It was initially suspected to be a terrorist attack, heightened by another incident in Bavaria this week in which [...]
Presumptive Democrat presidential candidate Hillary Clinton selects Virginia senator Tim Kaine as running mate July 23, 2016 US presidential hopeful Hillary Clinton has selected Virgina senator Tim Kaine to be her running mate in the showdown with Donald Trump to get to the White House. Clinton bypassed more liberal candidates by opting for the 58-year-old former lawyer and governor of Virginia by opting for Kaine, who had emerged as the favourite for the vice president role in [...]