Author: WTX Business Team

Business Live: US & UK markets monitoring. Market data: FTSE 100, NASDAQ, FTSE 250, Pound/Dollar, Pound/Euro, US markets, Oil price and so much more

The U.S. holiday and a sparse economic calendar will cause the London Stock Market to begin negatively today. And the knock on impact of the US closure has already sent shockwaves across Asia. Significantly, the markets with the most movement are the ones that don’t rely on the US economy or aren’t propped up regimes. With all the Stock markets in Africa seeing positive growth today. Asian markets started slowly amid fading hopes for early…

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Shopping rebounds on supermarkets and January sales Retail sales experienced a resurgence in January as consumers rushed to stockpile food items at supermarkets and capitalise on New Year discounts. Official data unveiled a notable 3.4% surge in sales, rebounding from a record decline in December. Supermarkets witnessed a robust uptick in food sales, while department stores benefited from January sale events. Nevertheless, inflation persisted at elevated levels, resulting in consumers paying more for fewer goods.…

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Japan unexpectedly slips into a recession Japan has unexpectedly slipped into a recession as its economy contracted for two consecutive quarters. In the final three months of 2023, Japan’s gross domestic product (GDP) unexpectedly shrank by 0.4% compared to the same period a year ago, following a 3.3% contraction in the previous quarter. These figures, released by Japan’s Cabinet Office, also reveal that Japan has yielded its position as the world’s third-largest economy to Germany.…

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Tesco delivery drivers ‘staged accidents’ in huge ‘cash for crash’ scam Supermarket giant Tesco has been targeted in a ‘cash for crash’ fraud that saw delivery drivers staging accidents so scammers could claim millions from the franchise. Drivers working in Greenford, West London, are believed to have conspired with external people to conduct ‘stage managed’ accidents, reports The Times. It is alleged that around a dozen Tesco drivers were involved in the scam. The ‘victims’…

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The front page of the London business newspaper City AM reports on the Barratt-Redrow merger. The paper says the £2.5bn merger of two of the UK’s largest housebuilders sent shockwaves through the market. 

The paper says shares in major FTSE 100 and 250 housebuilders suffered a mixed day on the London market, as the surprise merger highlighted investors’ skewed opinions on the state of UK housing.

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