US retail sales see strong growth

Retail sales in the US rose faster than expected in October, helped by strong car sales, figures have shown. The data is the latest evidence that the US economy is growing strongly and adds to speculation that there could be an interest rate rise next month. The Commerce Department said retail sales rose 0.8% in October from the… Read More »

Rolls-Royce increases cost-saving plans

Rolls-Royce has raised its cost-saving targets in a bid to cut between £150m and £200m from its budget. The aero engine maker said the savings would be at the top end of its target amid a challenging period ahead. The company said demand for its engines for extra wide body aircraft had stayed strong. However, Rolls was losing… Read More »

Ford to push ahead with Mexico move despite Trump threat

US carmaker Ford is pushing ahead with plans to move some production to Mexico despite a threat by President-elect Donald Trump to impose hefty tariffs. Ford chief executive Mark Fields said it was “going forward” with its plan to shift production of small cars from its Michigan plant. However, he repeated assurances that no jobs would be lost… Read More »

Oil industry faces boom-and-bust, warns IEA energy group

A new oil industry boom-and-bust cycle is likely if the current reduction in new investment is not reversed, says the International Energy Agency. The IEA says unless more money is spent exploring for, and developing, new oil fields, then demand may outstrip supply in the early years of the next decade. That could see oil prices surging again,… Read More »

U.S. producer prices unchanged in October on weak services

U.S. producer prices were unexpectedly flat in October as a rise in the cost of goods was offset by declining services costs. The Labor Department said on Wednesday that the unchanged reading in its producer price index for final demand last month followed a 0.3 percent increase in September. In the 12 months through October, the PPI increased… Read More »

UK inflation rate falls to 0.9% in October

The UK inflation rate registered a surprise fall in October, although there were signs that the pressure on consumer prices is starting to build. Consumer Prices Index (CPI) inflation fell to 0.9%, from 1% in September, the Office for National Statistics said. That was below the 1.1% predicted by economists, who said sterling’s fall would push October’s CPI… Read More »

HTC 10 to receive Android 7.0 Nougat update in Europe in late November or early December

HTC has already officially revealed that the Android 7.0 Nougat update would hit its current flagship smartphone, the 10, before the end of the year. Specifically, HTC said this would happen in the fourth quarter, which started in October and ends on December 31. While the company still isn’t giving us any more details about its rollout, a… Read More »

Asus Zenfone AR with Google Tango is coming at CES in January

Asus is working on the second Google Tango smartphone, according to its CEO, Jerry Shen. The device will be called Zenfone AR and will be revealed at CES in January. It will follow in the footsteps of Lenovo’s Phab2 Pro, the first Tango handset, which was announced in June and went on sale at the beginning of this… Read More »

Telecoms rivals raise alarm on new network for emergency services

It is not often that Britain is truly in the vanguard of shifts in technology in the 21st century. Business and consumers seeking the shape of things to come have grown accustomed to looking west to Silicon Valley or east to South Korea and Japan. If everything goes according to plan, however, there will be no such indignity… Read More »

Syria conflict: Assad hopes for ‘anti-terror ally’ in Trump

Syria’s leader has said he hopes US President-elect Donald Trump will be an ally in fighting terrorism but remains “cautious in judging him”. Bashar al-Assad said Mr Trump would be a “natural ally” if he fulfilled a campaign pledge to fight terrorism. But he said it was “dubious” whether Mr Trump could “live up to his promises”. Mr… Read More »