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3) Coach bosses warn 27,000 jobs at risk this winter: bosses are urging ministers to ban takeover of coaches by lenders to give operators a breather during what is traditionally a period Calmer. It follows the loss of 2,500 positions when the owner of Shearings collapsed in administration in May.
4) The rise and fall of ITV as the FTSE 100 falls: At the beginning of the year, hopes were high for ITV. The Euro 2020 soccer tournament was on the horizon and Winter Love Island was about to begin, both attracting advertisers. Months later, reality has hit hard.
5) Ted Baker founder Ray Kelvin appointed a representative to the company’s board of directors 18 months after he resigned as its boss amid a scandal of “forced hugs” and claims of inappropriate behavior towards staff. The retailer has appointed Colin La Fontaine Jackson as nominated director on behalf of Kelvin, who still owns nearly 12% of the business.
What happened overnight
AShares in China mixed Wednesday after another US rally fueled by positive economic data, even as the coronavirus pandemic has regions around the world battling recessions.
Benchmarks rose in Tokyo and Sydney, but fell in Hong Kong and Shanghai.
Australia posted the worst drop in GDP in its history, with a 7% contraction in the April-June quarter. That resulted in the country’s first recession in 30 years.
However, regional market sentiment was boosted by some better than expected data on the US economy.
Japan’s benchmark Nikkei 225 index was up 0.3 percent in morning trading to 23,204.94. Australia’s S & P / ASX 200 rose 1.5% to 6,043.20. South Korea’s Kospi was flat at 2,350.10. Hong Kong’s Hang Seng fell 0.5% to 25,059.92, while the Shanghai Composite lost 0.5% to 3,393.58.
Wall Street kicked off September with another set of milestones on Tuesday, when an evening rally pushed the S&P 500 and Nasdaq composite to all-time highs.
Going up today
Provisional results: Eddie stobart
Whole year: Barratt developments
Economic Sciences: Bailey, Ramsden and Vlieghe from the BoE on the Treasury Selection Committee (UK); ADP Job Change, Factory Orders (US)
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