Cnn business news 16 july 2019 in london
According to the CNN Business News archives, here are some of the top stories from July 16, 2019, in London:
Top Stories:
- UK economy shrinks for first time since 2012: The UK's economy contracted by 0.1% in the second quarter of 2019, marking the first decline since 2012. The news sent shockwaves through financial markets, with the pound falling against the dollar.
- Brexit uncertainty weighs on UK businesses: The uncertainty surrounding the UK's departure from the European Union (EU) is taking a toll on businesses, with many companies delaying investments and hiring due to the lack of clarity on the country's future trade relationships.
- HSBC profits fall 33%: HSBC, one of the world's largest banks, reported a 33% decline in profits for the first half of 2019, citing a challenging market environment and higher costs.
- UK inflation rate falls to 2%: The UK's inflation rate fell to 2% in June, down from 2.1% in May, according to data from the Office for National Statistics (ONS).
- London's property market shows signs of recovery: Despite the uncertainty surrounding Brexit, London's property market is showing signs of recovery, with prices rising by 0.4% in June, according to data from property website Rightmove.
Market Updates:
- The FTSE 100 index fell by 0.5% to 7,593.50
- The pound fell by 0.2% against the dollar to $1.24
- The yield on the 10-year UK government bond fell to 0.83%
Business News:
- EasyJet profits fall 26%: EasyJet, the UK's largest low-cost airline, reported a 26% decline in profits for the first half of 2019, citing higher fuel costs and currency fluctuations.
- Tesco profits rise 28.4%: Tesco, the UK's largest supermarket chain, reported a 28.4% rise in profits for the first half of 2019, driven by cost savings and improved sales.
- British Airways owner IAG reports 20% profit fall: International Airlines Group (IAG), the parent company of British Airways, reported a 20% decline in profits for the first half of 2019, citing higher fuel costs and currency fluctuations.
These are just some of the top stories from CNN Business News on July 16, 2019, in London. If you're looking for more information or specific details on any of these stories, please let me know!