Cnn business news 8 june 2019 in london
According to the CNN Business News archives, here are the top stories from June 8, 2019, in London:
Top Stories:
- UK economy shrinks for first time since 2012: The UK's economy contracted by 0.4% in the first quarter of 2019, the Office for National Statistics (ONS) reported. This is the first quarterly decline since 2012.
- Brexit uncertainty hits UK businesses: The uncertainty surrounding the UK's departure from the European Union is taking a toll on businesses, with many reporting reduced investment and hiring.
- Sterling falls to 20-month low: The pound fell to a 20-month low against the US dollar, as investors worried about the impact of a no-deal Brexit on the UK economy.
- UK inflation rate falls to 2.1%: The UK's inflation rate fell to 2.1% in May, down from 2.5% in April, according to the ONS.
- HSBC profits fall 33%: HSBC, one of the world's largest banks, reported a 33% fall in profits in the first quarter of 2019, due to a decline in investment banking revenue.
Market Updates:
- The FTSE 100 index fell 0.5% to 7,444.44
- The pound fell 0.4% against the US dollar to $1.2735
- The yield on the 10-year UK government bond fell to 1.04%
Business News:
- EasyJet profits fall 26%: EasyJet, the UK's largest low-cost airline, reported a 26% fall in profits in the first quarter of 2019, due to higher fuel costs and currency fluctuations.
- British Airways owner IAG reports profit fall: International Airlines Group (IAG), the parent company of British Airways, reported a 21% fall in profits in the first quarter of 2019, due to higher fuel costs and currency fluctuations.
- UK retail sales fall 0.5%: UK retail sales fell 0.5% in May, according to the British Retail Consortium, as consumers cut back on spending due to economic uncertainty.
These are just some of the top stories from CNN Business News on June 8, 2019, in London. If you're looking for more information or specific details on any of these stories, please let me know!