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World News

Retail sales rebound in August on improving weather


Retail sales rebounded in August after a rainy month of July which put a damper on businesses. In addition, the Competition and Markets Authority has completed an initial review of Microsoft’s $69 billion takeover of Activision. Meanwhile, eyes are on gas prices after Chevron workers agreed to end factory strikes in Australia. Here’s everything you need to know this morning:

5 things to start your day

1) The moments that made Rupert Murdoch | The succession of diaries – and wives – that defined the media mogul

2) Wall Street chief embroiled in court battle over Mike Ashley trading | Retail mogul files suit against investment bank over his bets on Hugo Boss shares

3) 10,000 fewer heat pump grants available to households after Rishi Sunak’s net zero overhaul | While the Prime Minister increased the incentive to £7,500, it now appears that the overall £150 million cap on the scheme has not been changed.

4) Billionaire Mike Bloomberg Pledges to Trust His Financial Data Empire to Charity | The announcement follows speculation about the future of the American company

5) Warner Bros announces £200m expansion of Watford studio where Barbie was filmed | Originally a Second World War airfield, Leavesden’s aircraft hangars were also used to film James Bond’s Goldeneye and House of the Dragon.

What happened overnight

Most stock markets fell Friday morning as Asian investors feared rising interest rates. The Bank of Japan is expected to maintain its negative rate policy, with new inflation data released on Friday showing it was higher than expected in August.

Tokyo, Sydney, Seoul, Singapore, Taipei and Wellington all fell, although Hong Kong and Shanghai enjoyed a much-needed rebound in bargain shopping.

Stocks on Wall Street fell sharply on Thursday as investors’ risk appetite was dampened by concerns that interest rates would remain high for longer.

The Dow Jones Industrial Average finished down 1.1% at 34,070.42.

The broad S&P 500 index fell 1.6% to 4,330.00, while the tech-heavy Nasdaq Composite Index fell 1.8% to 13,223.98.



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