China August Imports Rise for First Time in Nearly Two Years

China’s imports unexpected rose in August for the first time in nearly two years while exports fell at a more modest pace, suggesting demand at home and abroad may finally be perking up and putting the world’s second-largest economy on a more balanced footing. Exports fell 2.8 percent from a year earlier, the General Administration of Customs said… Read More »

Exclusive – BMW bosses to skip Paris show to thrash out electric car strategy

BMW’s (BMWG.DE) management board is skipping the Paris Motor Show to hold talks aimed at breaking a deadlock over whether to produce new electric cars, including a battery-powered Mini, sources familiar with the matter told Reuters. Spurred on by the success of U.S. rival Tesla (TSLA.O), which has received almost 400,000 pre-orders for its Model 3 car, German… Read More »

UK fraud agency charges three in Tesco accounting probe

Britain’s Serious Fraud Office has charged three former senior Tesco (TSCO.L) executives with fraud in its investigation into accounting practices at the country’s biggest supermarket chain. A 250 million pound overstatement of Tesco’s first-half profits in August 2014, due to booking deals with suppliers too early, led to the suspension of eight senior members of staff in the… Read More »

German exports fall in July after global demand weakens

German exports fell sharply in July, posting their steepest drop in nearly a year, after the country’s goods saw lower global demand. Seasonally adjusted exports fell 2.6% compared with the month before, the biggest monthly drop since August 2015. The figures from Destatis followed economic data that painted a gloomy picture for German manufacturing. Industrial orders barely rose… Read More »

UK trade deficit shrinks in July

The UK trade deficit, which reflects the difference between imports and exports, shrank to £4.5bn in July from £5.6bn the previous month, the Office for National Statistics (ONS) said. The narrowing of the gap reflected a 2% increase in exports of goods and services, taking them to £43.8bn. Imports fell by 0.5% to £48.3bn. Although the pound fell… Read More »

Dixons Carphone sales beat forecasts, sees no Brexit impact

Dixons Carphone, Britain’s biggest consumer electricals and mobile phone retailer, beat forecasts on Thursday with a 4 percent rise in quarterly sales and said it had seen no impact from the vote to leave the European Union in June. The company, which trades as Currys, PC World and Carphone Warehouse in the UK and Ireland, Elkjop and El… Read More »

UK’s small business confidence unharmed by Brexit vote – survey

Small businesses in Britain remain confident about the economic and political landscape following the historic vote in June to leave the European Union, according to a survey by research firm BDRC Continental. Early responses from a third quarter survey of 4,500 small and medium-sized companies (SMEs) show little sign of any drop in confidence according to BDRC. A… Read More »

UK independent tech firm to buy part of Hewlett Packard

One of Britain’s largest independent technology firms is to announce a multibillion-pound deal to buy part of Hewlett Packard’s software business. Hewlett Packard Enterprise (HPE) will spin off and merge its non-core software assets with Britain’s Micro Focus International in a deal worth $8.8bn (£6.6bn), the companies said on Wednesday. The move is part of HPE chief executive… Read More »

US media firm Liberty Media to buy Formula 1

US firm Liberty Media has confirmed it is buying the racing business Formula 1 for $4.4bn (£3.3bn). The move ends years of speculation about the ownership of the company. Bernie Ecclestone will remain as chief executive but Chase Carey, vice-chairman of 21st Century Fox, will become the new chairman. Liberty Media has stakes in several sports and entertainment… Read More »

New Zealand tops global list for house price rises

New Zealand, Turkey and Canada have seen the biggest leap in house prices over the past year, according to a new global ranking. Estate agents Knight Frank found property markets in the three countries grew between 10% and nearly 14%. While New Zealand comes in second after Turkey, it tops the list once the impact of inflation is… Read More »