All the day´s economic and financial news, as UK shoppers tighten their belts and cut back on foodLatest: Retail sales weaker than expectedBrits cut back after a summer spending blitzBiggest monthly drop in food sales in three yearsEarlier:WTO´s Azevedo: Trade war would millions of jobsShanghai composite hits four-year lowDanske money-laundering: New CEO blocked by regulators 2.41pm BST As predicted, shares in New York have fallen into the red in early trading.The Dow Jones industrial average has dropped by over 0.6%, or 160 points, as the prospect of further interest rate hikes continues to worry Wall Street....Dow slides more than 160 points in early trading https://t.co/nibntUQFc6 pic.twitter.com/GOBORUEDroStocks opened lower on Thursday as fears of rising interest rates overshadowed strong corporate earnings. The Dow was down 100+ points. https://t.co/g52HP6UGaQOne of the most interesting takeaways from the minutes released by the Federal Open Market Committee (FOMC) is a suggestion from the Federal Reserve that it could raise interest rates beyond market expectations.This would of course come across as disappointing to President Trump, but would also be considered as positive news for Dollar buyers as it stresses the Federal Reserve is completely independent from the White House. 2.37pm BST British businesses are watching the lack of progress over Brexit with increasing alarm.Carolyn Fairbairn, CBI Director-General, has warned that jobs are already at risk, and urged both sides to agree a withdrawal deal pronto.`Business´ patience was already threadbare and is nearing an end. The need for compromise on both sides to agree the Withdrawal Agreement and secure the transition period is long overdue.`The risk of no deal is already biting hard. With each week that passes, firms are accelerating their contingency planning, diverting investment and costing jobs. And many firms, especially smaller businesses, simply have no time to prepare. All efforts should focus ...
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