Saturday, 30 Nov 2024

European Economics Preview: Eurozone Economic Confidence Data Due

Football superfan has visited 300 grounds – and he’s only EIGHT

But he said his partner Dawn Slatter, also 33, was generally supportive. 

He added: “She enjoys having some time to herself at the weekend but is of the opinion that we go to too many grounds. 

“She’s probably right – it is a bit of an addiction.” 

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Bearish momentum accelerates, S&P 500 ventures firmly under last-ditch support

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U.S. stocks are firmly lower early Monday, pressured after China devalued its currency, signaling genuinely escalating China-U.S. trade tensions.

In the process, the S&P 500 has extended its damaging August downdraft, venturing firmly under its 50-day moving average, as well as last-ditch support (2,912).

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U.S. sells 3-month bills at lowest interest rate in a year

Aug 5 (Reuters) – The U.S. Treasury Department on Monday sold $39 billion in three-month bills at an interest rate of 1.99%, the lowest at an auction for the government debt maturity since July 2018, Treasury data showed.

The ratio of bids to the amount of three-month bills offered came in at 2.88, down from last week’s 3.02 which was the highest since June 10. (Reporting by Richard Leong Editing by Tom Brown)

Tesco to cut 4,500 jobs, reducing opening hours

British supermarket giant Tesco on Monday announced plans to cut jobs and scale back operations at its smaller convenience stores, citing increased cost pressures.

The British supermarket giantTSCO, -1.63%TSCDF, -1.56%said it will cut around 4,500 jobs. It plans to store fewer products in its back rooms and have workers “working more flexibly across the store to improve customer service.” Tesco said it will reduce opening hours at some smaller stores.

“In a challenging, evolving retail environment, with increasing cost pressures, we have to continue to review the way we run our stores to ensure we reflect the way our customers are shopping and do so in the most efficient way,” said Jason Tarry, the head of its U.K. and Irish operations, in a statement.

Shares of Tesco, whose top institutional investors are Schroder Investment Management, Norway’s oil fund and Artisan Partners, moved off lows of the day following the announcement but were down 1% on the session.

Tesco shares have lost 16% over the last 12 months, compared with a 6% decline for the FTSE UKX, -2.47%

Fatal collision shuts down Deerfoot Trail in Calgary

A woman was killed in an early morning crash in Calgary on Monday.

Police said she was driving south on Deerfoot Trail in an SUV that rolled just south of the Calf Robe bridge at 6:30 a.m.

EMS responded but the patient died at the scene. There were no passengers in the vehicle.

All lanes of Deerfoot Trail were shut down Monday morning and would remain closed until police complete their investigation.

Southbound traffic was being re-routed at Peigan Trail.

US president blames latest mass shootings on mental illness

Donald Trump blames mental illness, video games and social media for mass shootings in the United States. But his critics think he has to take some responsibility because of the language he uses.

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We also ask if the government’s £1.8bn for the NHS is new money or rehashed ahead of a general election?

And police criticise residents who’ve refused to leave their homes in the exclusion zone around a damaged dam in Derbyshire.

European Economics Preview: Eurozone Economic Confidence Data Due

Economic confidence from euro area and flash inflation from Germany are due on Tuesday, headlining a hectic day for the European economic news.

At 1.30 am ET, France Insee publishes first estimate for the second quarter GDP data. The economy is forecast to grow 0.3 percent sequentially, the same rate as seen in the first quarter.

At 2.00 am ET, Germany’s GfK consumer confidence survey data is due. The consumer sentiment index is forecast to drop marginally to 9.7 in August from 9.8 in July.

At 2.45 am ET, France’s household consumption data is due for June.

At 3.00 am ET, the Swiss KOF leading indicator for July is due. Economists expect the index to fall to 93.3 in July from 93.6 in June.

In the meantime, the Hungarian Central Statistical Office publishes average gross wages data. Producer prices from Austria and economic sentiment from Turkey are also due.

At 3.30 am ET, Statistics Sweden releases GDP data for the second quarter.

At 5.00 am ET, the euro area economic sentiment survey data is due. The economic sentiment indicator is expected to decline to 102.7 in July from 103.3 in June. At the same time, the business confidence index is seen at 0.1 in July.

At 8.00 am ET, Destatis publishes Germany’s consumer price data for July. Inflation is forecast to ease to 1.5 percent in July from 1.6 percent in June.

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