Stock markets

China’s economy beats forecasts as stimulus offsets trade war damage – business live | Business – Business Article

Replicas of “Longevity” lanterns are seen in front of the Qianqing Palace in the Forbidden City in Beijing, China, this month. Photograph: China Stringer Network/Reuters Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. China has batted away concerns that its economy is faltering, by posting better-than-expected growth figures. Despite the pressure of Donald Trump’s trade war, the Chinese economy grew at an annual pace of 6.4% in the first…

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Markets await UK jobs report and German ZEW data – business live | Business – Business Article

8.17am BST 08:17 Lufthansa shares rocked by profits warning Photograph: Paul Hanna/Reuters Ouch! Shares in German airline Lufthansa are sliding, after it posted a shock loss for the last quarter. Germany’s biggest airline made an adjusted loss of €336m in January-March, down from a profit of £52m a year ago. It blamed rising fuel costs and downward pressure on fares, which has sent a shiver through the travel sector. Lufthansa shares have slumped 5% at the open in Paris. In…

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Uber warns it ‘may not achieve profitability’ as it aims for $100bn valuation | Technology – Business Article

Ride hailing service Uber made public details about its fast growing and massively loss-making business on Thursday, as it gets ready to become a public company and warned it may never “achieve profitability.” The 10-year-old company that has transformed the taxi industry will become the latest Silicon Valley “unicorn” – a private company worth over $1bn – to test the stock markets appetite for loss-making tech companies. It is set to be the largest initial public offering (IPO) of the…

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FTSE 250 hits six-month high; Brexit delay lifts holiday firms – business live | Business – Business Article

The foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea. Photograph: Ahn Young-joon/AP Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Growth worries are weighing on the markets again today, as the International Monetary Fund warns that the global economy remains fragile. The IMF, whose spring meetings with the World Bank begin in Washington this week, is worried that the global economic expansion is…

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Brexit angst drags UK construction growth down to 10-month low – business live | Business – Business Article

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Sony’s slogan, “Be Moved”, is inspired by the emotional impact of technology, and the power of smartphones, gaming devices, cameras and speakers. Unfortunately, the only thing being moved right now is Sony’s share price, which is tumbling after the electronics giant became the latest tech company to warn that conditions are deteriorating. Sony spooked investors by cutting its sales outlook for…

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Italy falls into recession as eurozone economy struggles – business live | Business – Business Article

The Italian economy slipped into recession in the final three months of the year, weighing on the wider eurozone’s growth, official figures showed Thursday. The Italian statistics agency said that Italy, the third-largest economy in the 19-country eurozone, contracted by a quarterly rate of 0.2% in the fourth quarter. Following a 0.1% drop in GDP in the previous three-month period, that means Italy is in a technical recession, defined as two straight quarters of economic contraction. The Italian economy has…

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UK consumers shun credit cards as Brexit looms – business live | Business – Business Article

French riot police clash with Yellow Vests protesters at the Place de la Bastille Photograph: Alfred Photos/SIPA/REX/Shutterstock Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With gloom gathering over Europe, France has given the eurozone a much-needed boost by beating growth forecasts for the last quarter. French GDP expanded by 0.3% during October-December, new figures show, crushing fears that growth could have fallen to just 0.1%. That matches France’s…

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Huawei charges reignite trade war fears; Brexit hits Hargreaves Lansdown – business live | Business – Business Article

Acting Attorney General Matthew Whitaker announcing indictments against China’s Huawei Technologies Co Ltd, several of its subsidiaries and its chief financial officer Meng Wanzhou last night Photograph: Joshua Roberts/Reuters Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Hopes of a breakthrough in the US-China trade talks have taken a resounding knock, after American authorities hit technology firm Huawei with a string of criminal charges. The US Justice Department has…

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