Business & Economy

Brexit fears slow British growth, hit consumers and businesses

LONDON: Britain’s economy suffered weakness on all fronts in the three months to June, with shoppers pinched by the pound’s tumble, exports failing to fill the gap, and business investment frozen by Brexit uncertainty.The Office for National Statistics confirmed on Thursday the economy grew 0.3 percent in the second quarter after 0.2 percent in the first — adding up to ...

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Flying water taxis highlight French startup frustrations

PARIS: French yachtsman Alain Thebault wants to turn a boat design he used to break a world speed sailing record in 2009 into a clean, fast taxi service for the waterways of major cities.The SeaBubble won the backing of private investors — Thebault expects to raise between 50 to 100 million euros by the end of September.Emmanuel Macron, France’s pro-business ...

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Central bankers to face inflation puzzle at Jackson Hole

Against a backdrop of strengthening growth but chronically low inflation, U.S. Federal Reserve chair Janet Yellen and other central bankers are taking their measure of the global economy at their annual conference in the shadow of Wyoming’s Grand Teton Mountains. With the prospect of new leadership at the Fed within months, investors will be listening for any hint of shifting ...

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Saudi Arabia, China plan joint $20b investment fund

Jeddah: Saudi Arabia and China plan to establish and operate jointly a $20 billion (Dh73.4 billion) investment fund, sharing costs and profits on a 50:50 basis, Saudi Energy Minister Khalid Al Falih said on Thursday. Al Falih was speaking on the sidelines of an economic conference of senior officials and businessmen from the two countries. He said that in addition ...

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Business investment stalls in UK as Brexit uncertainty bites

Business investment in the UK has stalled in the year since the EU referendum, according to official figures published on Thursday. The level of business investment in the second quarter of this year was £43.8 billion, adjusted for inflation – virtually the same as the three months before last year’s EU referendum. Businesses’ capital spending had steadily increased between 2009 ...

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Stagnant investment, weak consumers leave UK as G-7 laggard

GDP growth of 0.3% in Q2 and 0.1% increase in household expenditure indicate country is entering slower growth phase A shopper walks past a shop selling tourist souvenirs on Oxford Street in London. The government data reinforces the view the economy has moved into a slower growth phase, at a pace well below its average in recent years. LONDON UK ...

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Firms bear unreasonable costs – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Officers granting business registration stamps to newly established enterprises. — VNA/VNS Photo Danh Lam HÀ NỘI — Private Vietnamese businesses are bearing the burden of high business expenses and struggling with increased pressure from new taxes and fees already adopted or being planned by authorities, which hinder competitiveness and reduce business efficiency. During an ...

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Energy Department’s recommendations would bolster coal, nuclear power plants

A much-anticipated Energy Department report on the electricity grid made recommendations for regulatory changes that would bolster coal and nuclear power plants. The changes, if adopted, would alter the way prices are determined in electricity markets, ease environmental reviews for coal plants and speed the permitting process for a variety of energy sources. The 187-page report rejects the notion that ...

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Nearly 2000 business conditions up for the chop – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — A whopping 1930 conditions on licensing, registration and operations of businesses could be removed under the latest proposal made by the Ministry of Planning and Investment (MPI). Following up on earlier instructions from the PM to weed out unnecessary regulations and hindrances to business development, the MPI is recommending partial or complete ...

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Eurozone August business growth keeps up solid pace

Data likely to support expectations that the European Central Bank will scale back asset purchases FRANKFURT Eurozone business growth maintained a solid clip in August, driven by the best manufacturing performance in 6-1/2 years despite a strong euro, easily offsetting a mild slowdown in services growth, a key private sector survey showed on Wednesday. Taken together with a mild pickup ...

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