LONDON Britain's economy again relied heavily on spending by squeezed households for growth in the three months to September, as businesses invested only cautiously while they await clarity on Brexit, official data showed.
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Nov 24 Hong Kong stocks rebounded on Friday,recording a fourth week of gains, as mainland shares showedsigns of stabilising after Thursday's tumble.
MUMBAI Ride-hailing firm Uber Technologies will partner with automaker Mahindra and Mahindra to add electric vehicles on its platform in India, the two companies said in a statement on Friday.
MUMBAI, Nov 24 Ride-hailing firm UberTechnologies will partner with automaker Mahindra and Mahindrato add electric vehicles on its platform in India, thetwo companies said in a statement on Friday.
* Says co and Uber join hands to deploy electric vehicles inIndia
Nov 24 The following are the top stories in theWall Street Journal. Reuters has not verified these stories anddoes not vouch for their accuracy.
Nov 24 The following are the top stories in theFinancial Times. Reuters has not verified these stories and doesnot vouch for their accuracy.
PARIS Peugeot-owner PSA will use an existing Opel site in eastern Europe to assemble 200,000 petrol engines instead of building new capacity on its own site in Slovakia as initially planned, Les Echos newspapers said on Thursday.
PARIS, Nov 23 Peugeot-owner PSA willuse an existing Opel site in eastern Europe to assemble 200,000petrol engines instead of building new capacity on its own sitein Slovakia as initially planned, Les Echos newspapers said onThursday.
SAO PAULO, Nov 23 Brazilian steelmaker Gerdau SAplans to reactivate its mini-mill in Mogi das Cruzesin March due to the recovery of the local auto industry,according to a statement on Thursday.
* Shares close up nearly 4 pct(Adds comments from shareholder Cevian to Handelsblatt)
BRUSSELS, Nov 23 The following are mergers underreview by the European Commission and a brief guide to the EUmerger process:
NEW DELHI Italian-American carmaker Fiat Chrysler Automobiles NV will recall 1,200 Jeep Compass sports utility vehicles (SUVs) sold in India, for "replacement of the front passenger air bag," FCA India said in a statement on Thursday.
NEW DELHI, Nov 23 Italian-American carmaker FiatChrysler Automobiles NV will recall 1,200 Jeep Compasssports utility vehicles (SUVs) sold in India, for "replacementof the front passenger air bag," FCA India said in a statementon Thursday.
* Unit entered agreement with PingAn Trust to buy entirestake &shareholder loan of Shanghai Muhong Investment Management forRMB371.0 millionSource text for Eikon:Further company coverage:(email@example.com)
BRIEF-Songz Automobile Air Conditioning's unit to be Honda Motor's in-vehicle air conditioning supplier
* Says its unit will become Honda Motor'sin-vehicle airconditioning supplier from end-2018
* Q3 growth confirmed at +0.4 pct qq* +1.5 pct yy matches weakest growth since 2012* Household spending growth highest in a year* Businesses slow pace of investment growth* Data comes a day after official downgrade of UK outlook* Separate figures show shopping rebound in November(Adds CBI retail sales index, economists)By William Schomberg and Alistair SmoutLONDON, Nov 23 Britain's economy again reliedheavily on spending by squeezed households for growth in thethree months to September, as businesses invested onlycautiously while they await clarity on Brexit, official datashowed.The fragile picture of the economy echoed the sharply weakeroutlook announced on Wednesday by Britain's budget watchdog, which prompted finance minister Philip Hammond to say he wouldspend more over the next two years. The Office for National Statistics said overall economicgrowth sped up moderately in the July-September period to 0.4percent from 0.3 percent in the second quarter, confirming apreliminary reading.But Britain is lagging other big advanced economies, largelydue to the impact of last year's decision to leave the EuropeanUnion, which has pushed up inflation and left many companiesunwilling to commit to new investment while London and Brusselsremain at loggerheads over their future ties.The economy grew by an annual 1.5 percent in the thirdquarter, the joint weakest growth in more than five years.Growth was driven by spending by households which rose atits fastest pace in a year, helped by a recovery in car saleswhich had been weak in the second quarter after a tax increase.Separate data published on Thursday showed British shopsales rebounded in November after a sharp fall last month,although the number of retailers reporting rising prices hittheir highest level since 1991. BUSINESS INVESTMENT WARNINGAllan Monks, an economist at JP Morgan, said he thought thepickup in spending by consumers over the summer would provetemporary, given the still-weak income picture for householdsand a rise in oil prices that will hit their budgets. Howard Archer, an economist at forecasters EY Item Club,said the squeeze on consumers should ease in 2018 when inflationis expected to fall back, but that uncertainties about Brexitwere likely to weigh further on business investment. Businesses upped their investment by 0.2 percent in thethree months to September, the weakest pace so far this year. Yael Selfin, an economist with KPMG, said a fall ininvestment in information technology and other machinery andequipment did not bode well for a recovery in productivity, theAchilles heel of Britain's economy and the biggest factor behindWednesday's grim growth outlook."It will be particularly important to watch the performanceof business investment in coming months, not just as a sign ofbusiness confidence in the direction the UK is taking, but alsoas an indication of whether productivity and future UK growthpotential are likely to pick up," she said.In another sign of how reliant Britain's economy remains onits consumers, the ONS said the country's trade deficit weighedheavily on growth in the third quarter, despite the pound's fallwhich some Brexit supporters have said should help exporters.The Bank of England, which raised interest rates for thefirst time in a decade earlier this month, hopes stronger growthamong manufacturers will bolster the economy as it faces thechallenge of Brexit.(Additional reporting by Andy Bruce; Writing by WilliamSchomberg; Editing by Catherine Evans)
MOSCOW Russia's technical safety watchdog Rosstandart said on Thursday Peugeot-Citroen planned to recall 3,085 Peugeot 4008 cars and 2,971 Citroen C4 Aircross cars sold in Russia between March 2012 and April 2016.
MOSCOW, Nov 23 Russia's technical safetywatchdog Rosstandart said on Thursday Peugeot-Citroenplanned to recall 3,085 Peugeot 4008 cars and 2,971 Citroen C4Aircross cars sold in Russia between March 2012 and April 2016.
LONDON Britain will increase the tax paid by those driving new diesel cars that do not meet the latest emissions standards from next year, in the latest blow to the hard-pressed sector.
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- Australia's Clive Palmer wins court case against China's CITIC
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- Monsanto says Mexico revokes permit to market GMO soy in 7 states
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- Australian watchdog proposes to extend co-ordination between Jetstar's Asian brands