SNAPSHOT Wall St opens lower as inflation data adds to rate-hike worries

Sept 30 (Reuters) – Wall Street’s main indexes opened lower on Friday as resilient core inflation in August stoked fears of more big-sized interest-rate hikes denting a rebound in consumer spending. The Dow Jones Industrial Average (.DJI) fell 102.58 points, or 0.35%, at the open to 29,123.03. The S&P 500 (.SPX) opened lower by 6.99 … Read more

Hong Kong retail sales slip 0.1% in August

HONG KONG, Sept 30 (Reuters) – Hong Kong’s August retail sales slipped 0.1% from a year earlier amid a high base of comparison, government data showed on Friday. Sales decreased to HK$28.6 billion ($3.64 billion), having grown 4.1% in July. In volume terms, retail sales fell 2.9% year-on-year in August. That compares with a revised … Read more

Audit breakthrough fails to lure investors into China ADRs

HONG KONG, Sept 29 (Reuters) – Global fund managers have been selling US-listed Chinese stocks and the index tracking them is sagging badly, suggesting progress toward resolving disputes over their accounts has not been enough to shake investors’ fears about the sector’s outlook . As of last Friday, US long-only funds – or funds that … Read more

A Look at Who Might Succeed Jope as CEO at Unilever

According to analysts at Jefferies, the beauty and personal-care businesses could have an enterprise value of about 111 billion euros ($107.1 billion), with food and refreshment worth about 48 billion euros. This is just ahead of Unilever’s current enterprise value, but there could be other benefits to a split. For example, the food arm would … Read more

Onewo Space-Tech launches $783 million Hong Kong IP0

Register now for FREE unlimited access to Register HONG KONG, Sept 19 (Reuters) – China’s Onewo Space-Tech Service has launched Hong Kong’s largest initial public offering (IPO) in 2022 as it aims to raise up to HK$6.15 trillion ($783.54 million), according to its regulatory filings. The company, the property services division of developer China … Read more

US retail sales unexpectedly rise, but inflation hampering spending

Retail sales increased 0.3% in August July data revised down to show sales falling 0.4% Core retail sales unchanged; July sales revised lower Weekly jobless claims fell 5,000 to 213,000 Manufacturing production edges up 0.1% in August WASHINGTON, Sept 15 (Reuters) – US retail sales unexpectedly rebounded in August as Americans ramped up purchases of … Read more

US Consumers’ Long-Term Inflation Expectations Dip to Lowest Since Mid-2021

Pedestrians carry shopping bags on Geary street in San Francisco, California, US, on Wednesday, May 18, 2022. US retail sales grew at a solid pace in April, reflecting broad-based gains and suggesting demand for merchandise remains resilient despite rampant inflation.

Apple Counts on Upscale Shoppers to Turn Latest iPhone Into Hit

The standard iPhone, which starts at $799, doesn’t even run Apple’s latest processor, the A16. Instead, it uses the same A15 chip as last year, with the A16 going into the Pro models. The Pro phones also get significant camera improvements and a new interface called the Dynamic Island.

Global cargo market sags as softer economy points to gloomy Christmas

Register now for FREE unlimited access to Register SYDNEY/SHANGHAI, Sept 16 (Reuters) – Global trade bellwethers like FedEx and Cathay Pacific Airways (0293.HK) have cast a pall over the year-end holiday shopping season – the business slowdown they’re seeing points to weaker-than- expected consumer demand, not a Christmas bonanza. The gloomy outlook comes as … Read more

India May Offer $2.5 Billion to Fuel Retailers Hit by Oil Costs

India imports about half of its liquefied petroleum gas, generally used as cooking fuel. The price of Saudi contract price, the import benchmark for LPG in India, has increased 303% in the past two years, while the retail price in Delhi was increased by 28%, India’s Oil Minister Hardeep Singh Puri said on Sept. 9.