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...Across the UK economy, average earnings including bonuses were 5.6 per cent higher in the three months to January than in the same period a year earlier....
...Cash profits, heavily adjusted, nearly doubled to £114mn to give a margin of 5.6 per cent — well above the depths of 2.9 per cent that THG plumbed in 2022....
...The Office for Budget Responsibility expects inflation to slow to an average of 2.2 per cent this year and 1.5 per cent in 2025 before gradually returning to target at the end of the forecast period....
...Inchcape shares traded on the London Stock Exchange rose 5 per cent per cent on Monday....
...Japan’s exporter-heavy Nikkei 225 index led losses as it dropped 1.3 per cent. The yen fell 0.18 per cent against the dollar to ¥153.55, its weakest level since 1990....
...Industrial production increased 6.1 per cent in the first quarter compared with a year earlier, the NBS said, while industrial producer prices fell 2.7 per cent as deflationary pressures continued to weigh...
...Leaders after 11 rounds (of 14): Nepomniachtchi (Russia) 7, Gukesh Dommaraju (India), and Nakamura (US) 6.5, Fabiano Caruana (US) 6....
...Five more top stories 1....
...Lowe’s: The retailer is forecast to report an 18 per cent revenue decline to $18.4bn in the fourth quarter, as consumers rein in spending on home improvement projects....
...Analysts had expected a decline to 4.1 per cent. Services inflation, which is closely watched by policymakers, dipped from 6.1 per cent to 6 per cent....
...Excluding bonuses, the Office for National Statistics said on Tuesday that annual earnings growth slowed from 6.1 per cent to 6 per cent, remaining stronger than the 5.8 per cent pace analysts had expected...
...Overall exports for March totalled ¥9.5tn ($61.4bn), while those to China rose 12.6 per cent to ¥1.7tn and US exports climbed 8.5 per cent to ¥1.8tn....
...Consultancy Bain expects the market for personal luxury goods to grow 1 to 4 per cent in 2024, down from an estimated 8 to 10 per cent in 2023....
...“I think what we are seeing in the house price data out this week is that mortgage rates ticked up in March, probably back up to 5 per cent from 4.5 [per cent] in February, and those higher rates are weighing...
...Europe accounted for 10.6 per cent of global IPO proceeds in 2023, rather than 5 per cent; China and Hong Kong had 45 per cent rather than 54.5 per cent; and the US had 18 per cent rather than 25 per cent...
...It then bought £45mn worth of shares in October, plus a further £1.6mn in November, which brought its stake to 18.2 per cent as of February 20 this year, according to the company’s annual report....
...It posted $5.8bn in revenue, beating consensus estimates of $5.3bn, according to S&P Capital IQ....
...Year-on-year falls elsewhere are less dramatic but no more promising, with the US down 6.5 per cent and Europe down 11 per cent on further deterioration in the key UK and French markets....
...The health insurer said it recorded a net loss of around $1.53 a share in the three months to the end of March, compared with a profit of $5.95 a share during the same period last year....
...Bad loans in the property sector accounted for 18.6 per cent of Everbright’s total non-performing assets as of the end of 2023, up from 15.6 per cent a year earlier....
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...The annual pace of growth in average earnings, including bonuses, slowed to 6.5 per cent in the three-month period, the Office for National Statistics said on Tuesday....
...Hot wage growth contributed to keeping services inflation elevated at 6.1 per cent in February....
...Moderna’s shares surged 15.5 per cent after investment bank Oppenheimer upgraded its stock in anticipation of new product launches in the next 12 to 18 months....
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