From January through March, the U.K. economy managed to grow by 0.7 percent compared to the previous quarter, the Office for National Statistics reported on 28 June.
Tag: Economy
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SPOTLIGHT: RETAIL ON THE ROPES
Hennes & Mauritz, the Swedish fashion retailer, reported a 6-percent decline in sales at the beginning of its third quarter as bad weather kept shoppers away from its stores in June.
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SPOTLIGHT: BIGS GETTING BIGGER
Saudi Arabia’s Public Investment Fund has partnered with private equity firm Ardian to buy 37.6 percent of London’s Heathrow airport, one of the world’s busiest transit hubs.
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SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
The People’s Bank of China is reducing the availability of money to lend, bank governor Pan Gongsheng said in a speech last week at a Shanghai financial conference.
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SPOTLIGHT: THE DEBT BOMB
Poor nations are being crushed by debt and advanced economies need to do more to relieve the burden, Pope Francis told the Vatican’s conference on the global debt crisis earlier this month.
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SPOTLIGHT: BIGS GETTING BIGGER
Kirin Holdings, which owns a variety of alcoholic beverage brands in Japan, is paying the equivalent of $1.4 billion to take over FANCL Corp., a maker of cosmetics and dietary supplements.
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SPOTLIGHT: CHINA’S ECONOMY
In May, China’s manufacturing momentum slowed but retail sales jumped more than 50 percent for the month due to a splurge over the May festival week. The property crisis showed no signs of recovery despite Beijing’s recent attempts to revive it.
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TOP TREND 2023, OFFICE BUILDING BUST: SPECULATORS BUY TROUBLED OFFICE BUILDINGS AT BARGAIN PRICES
As the market for office buildings crashes, speculators are now buying select properties they think will rebound in value when the crash hits bottom.
