US retail sales rise at fastest pace in three months

US retail sales rose in September at the fastest pace in three months, topping forecasts and capping a third-quarter rebound for consumer spending that faces increasing headwinds. The value of overall sales increased 1.9 per cent from the prior month after a 0.6 per cent gain in August, Commerce

Qatari Second-Quarter GDP Drops to Lowest Since 2012

Qatar’s economy performed its worst since at least 2012 during the second quarter amid lockdown measures to combat the coronavirus, Bloomberg reported. The country’s gross domestic product fell 6.1% in the April-to-June period on an annual basis, according to estimates by the Planning

Sudan Annual Inflation Jumps to 212% in September

Sudan’s annual inflation accelerated to 212.29% in September from 166.83% in August, driven by food and transport prices, the state statistics office said on Tuesday. Inflation in the country has been rising over the past few years, driven by food, beverages, fuel and a black market for US

Saudi Bindawood Sets IPO Price at 96 Riyals Per Share

Saudi Arabian supermarket retailer BinDawood Holding has priced its initial public offering at 96 riyals ($25.59) a share, the company said on Wednesday. The retailer, which owns the Danube and BinDawood supermarket brands, said the book-building process generated an order book of 106.9 billion r

Markets improve on Trump’s health progress, stimulus hopes

Global shares gained ground and crude prices rose on Monday as investor risk appetite was stoked by renewed stimulus optimism and news of President Donald Trump’s health progress.US stocks are rising Monday. The S&P 500 was 1.1% higher in morning trading, with raw-material producers and

Stock markets slump as Trump tests positive for coronavirus

Stocks are pulling lower Friday, as Wall Street’s first reaction to President Donald Trump’s testing positive for the coronavirus was to retrench. The S&P 500 was down 0.6% in morning trading, and a measure of fear among investors was on the rise. But the moves weren’t close

Retailer Superdry Signals Improved Trading after Annual Loss

Superdry on Monday said its trading performance has improved in the months since April despite uncertainty around the COVID-19 pandemic, as the British fashion retailer swung to an annual loss due to lockdown-led store closures.The company said demand was gradually returning, with a major shift of

UK retail sales shoot past pre-virus levels as shoppers migrate online

British shoppers continued to increase spending last month, taking sales further above pre-COVID levels, as strong online demand helped much of the sector enjoyed a faster rebound than the rest of the economy.Retail sales volumes rose by 0.8 percent in August, the Office for National Statistics sa

Markets struggle for direction following tech rebound; oil slips

  Global equity benchmarks hovered between small gains and losses and U.S. government bonds fell on Thursday as investors weighed hopes of a sustained rebound in U.S. technology stocks against the European Central Bank’s decision to leave its stimulus program unchanged. The German share

Global shares stabilise, try to shrug off U.S. tech rout scare

 Asian shares and U.S. stock futures regained some footing on Tuesday following a small bounce in European markets as investors looked to whether high-flying U.S. tech shares could recover from their recent rout. Japan's Nikkei .N225 advanced 0.4% as revised data confirmed the

China's Xi Promises More Market Opening at Trade Fair

President Xi Jinping pledged to open China’s service industries wider to foreign competitors as its first in-person trade fair since the coronavirus outbreak opened under intensive anti-disease controls. Xi gave no details in his speech Friday night, but Chinese leaders are emphasizing deve

Afterpay expands as online shopping surges

 Afterpay laid out plans on Thursday to expand its buy-now, pay-later service to at least four continents, capitalizing on the sector’s burgeoning popularity, as the Australian firm said its full-year loss more than halved. An online shopping boom triggered by the pandemic has boosted

French retailer Carrefour to buy 172 stores in Spain

French supermarket retailer Carrefour has agreed to buy 172 stores under the Supersol banner in Spain, in a deal worth an enterprise value of $92.3 million which would strengthen Carrefour’s number two position in Spain.Carrefour said on Thursday that the stores and supermarkets being acquir

South Africa retail industry feels pain from coronavirus pandemic

South Africa’s retail industry is feeling the pain from the coronavirus pandemic on two fronts — store closures during lockdown and the sharply reduced purchasing power of households. South Africa, the continent’s most industrialized economy, went into strict lockdown at the end

UK retail sales surge past pre-COVID peak in July

British retail sales surged past their pre-coronavirus level in July, the first full month that shops selling non-essential goods were open since the country went into lockdown in March.The unexpectedly robust figures show the strength of consumer demand even as other parts of the economy —

US stocks hit new high after coronavirus crash

A key US stock index has hit a new high despite ongoing worries about the sharp economic impact of the pandemic. The S&P 500, one of the widest and most prominent US market measures, inched higher on Tuesday to close at 3,389.78 - about three points above its 19 February record. Other US ind

Selfridges to offer clothing rental in environmental push

High-end department store chain Selfridges will start offering clothing rental as part of a number of moves into sustainable fashion. Customers are demanding that businesses take environmental concerns seriously, said managing director Anne Pitcher. The company is also moving into second-hand cl

Debenhams hires liquidator in contingency plan

Debenhams has appointed a firm to draw up contingency plans for a possible liquidation of the department store. The company, which is in administration, has hired Hilco Capital, a firm that specialises in winding up struggling retailers. Debenhams said it was "trading strongly" and Hilco's appoi

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