700,000 jobs lost in first five months of crisis – live updates

700,000 jobs lost in first five months of crisis - live updates

Yesodd morning. All eyes are on the UK’s latest labor market report, after 7am. As with the recent release, key payroll figures for mid-August will be closely watched, although the last month of unemployment (which will cover July) will also finally pick up.

Elsewhere this morning, disappointing Chinese import data signaled a slowdown in the country’s consumer demand. However, retail sales grew rapidly, and industrial production beat expectations.

5 things to start your day

1) Emirates to run the ax in the UK as London City crew. Dubai-based emirate moves to cut costs to avoid economic consequences of epidemic

2) Credit Suisse competes with UBS’s blockbuster The deal would be the largest bank merger since the financial crisis, generating more than 4 4 trillion in assets.

3) BP oil can sprout without the promise of the boss. The boss believes that many investors doubt that the oil giant can make itself a renewal champion.

4) Luxury Holiday Park bosses could go bankrupt due to debt. Deloitte Dream is pursuing Simon Meyer, the founder of Dream Lodge, for over 4 414,000 in repayable loans.

5) G4S rejects ਓ 3bn takeover bid Canada’s GuardWorld unveiled an offer that could result in hostile bids for the G4S after management overruled its overworks.

What happened overnight

Asian equities boosted gains on Tuesday and the dollar slipped, with investor sentiment on optimistic support for Chinese data and cowardly vaccines.

Chinese blue chips added 0.4pc, indicating that China’s industrial output rose 5.6pc in August from a year earlier, extending for the fifth straight month.

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MSCI’s Asia-Pacific broader index outside Japan rose 0.3pc for the fourth day in a row.

Japan’s Nikkei fell 0.8 pcs, while South Korean stocks added 0.3 pcs and Australia’s S&P / ASX 200 index added 0.1 pcs.

The e-mini features for the S&P 500 slipped 0.3pc, while the EUROSTOXX 50 features closed up 0.2pc.

So far this year, profit has been led by technology stocks in Asia.

Is coming today

Interim results
Marshall, polypipe

Trade statement
Camming, Ocado

Economics
Unemployment, Earnings (UK), Industrial Production (US and China), Retail (China), ZW Emotional Survey (Germany)

Cory Weinberg

About the author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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