Markets
Developing economies expected to rise by 4.1% in 2020
The bank also warns there's a risk of a fresh global debt crisis, with increased borrowing since 2010 leading to "the largest, fastest, and most broad-based increase in debt" among the four waves of debt buildup in the past 50 years. Bulgaria's economy was set to grow by three per cent in 2020, according to the latest World Bank's Global Economic Prospects report, released on January 9. [Full Article...]
Caltex Australia (ASX:CTX) reveals EG Group in takeover approach
Though receiving several expressions of interest, Caltex said it hadn't seen further proposals of acquisition since Alimentation Couche-Tard put forward its offer. Caltex's shares jumped to a almost two-year high of A$35.65, following the statement, which came in response to a report by Bloomberg on Tuesday that EG Group was considering a bid for Caltex. [Full Article...]
China's producer prices drop for sixth month
The key inflation reading was the same as November's growth and slightly slower than a median forecast of a 4.6% increase by economists in a Wall Street Journal poll. The price of pork almost doubled despite increased imports of China's staple meat and the release of thousands of tons from government stockpiles, official data showed Thursday. [Full Article...]
IAG chief executive Willie Walsh to retire
The current CEO of Spanish flag-carrier Iberia, Luis Gallego, is announced as his designated successor. Bloomberg's Benedikt Kammel reports on "Bloomberg Markets: European Open". Ryanair boss Michael O'Leary, a compatriot who, like Walsh, is not afraid of ruffling feathers, says his IAG leadership record "is one of remarkable successful transformation within an industry which used to be state run ... [Full Article...]
Downbeat Mark Carney speech sends pound falling
The bank is predicting an economic pick-up as some of the risks associated with Brexit have disappeared in the wake of last month's election victory by Boris Johnson's Conservatives. The Bank will make its next decision on rates on January 30. "Markets will be highly responsive to the flow of economic data, now that the MPC's next few meetings are "live", said Samuel Tombs, chief United Kingdo... [Full Article...]
Tesco sales barely grow in tough Christmas for grocers
The outgoing boss of Tesco claimed the grocer had its "busiest day ever" during the festive period despite recording flat sales. The supermarket chain emerged frontrunner in the battle of the major grocers to win Christmas. However, clothing and home sales were worse than expected, dropping 1.7% in the same period. Nevertheless, M&S boss Steve Rowe also described the market as "challenging". [Full Article...]
Amazon's video doorbell company fires four employees for snooping on customers
Ring denied that its team in the Ukraine had the level of access described in the report, though it did say three employees "have the ability to access stored customer videos for the objective of maintaining Ring's AWS infrastructure". "Requiring two-factor for new accounts is a step in the right direction, but there are millions of consumers who already have a Ring camera in their homes who remai... [Full Article...]
Greggs upgrades profit forecast as staff to share £7m payout
Last year's launch of Greggs' vegan sausage roll extended the chain's appeal to a new audience - as well as pushing up sales. All of the heroic workers within state meal provider Greggs are to receive a cash bonus in their pay packets at the end of the month, as the company rewards staff with a share of the enormous profits it continues to make. [Full Article...]