Markets News 

Pearson stems decline in key US market

“Underlying sales in the core market were down 1pc, but it represented an improvement on the trend last year, when the decline was 4pc” writes Hugh Young for telegraph.co.uk. On the back of a string of profit warnings, Pearson said the improved trend meant it could narrow its full-year profit forecast to the upper end of the range.The troubled education giant Pearson has suffered a further decline in its core American textbook business in the third quarter but avoided its worst fears, to the relief of investors.The new profit guidance…

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Ford, PSA led European car sales decline in September

“PARIS (Reuters) – French carmaker PSA Group and U.S. competitor Ford led a 2 percent decline in European car sales last month, according to industry data published on Tuesday” reports businessinsider.com. September registrations fell to a combined 1.466 million cars in the European Union and European Free Trade Area (EFTA), the Brussels-based Association of European carmakers said.Combined sales of PSA brands fell more than 5 percent, with Peugeot, DS and Opel/Vauxhall all recording year-on-year declines.Asian carmakers fared better last month, with Toyota’s sales up 1.9 percent and Nissan recording a…

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Booker profit up even as tobacco sales decline

“Non-tobacco sales to retailers rose 8.4%, but tobacco sales declined primarily due to changes in tobacco legislation” writes Maryam Cockar for marketwatch.com. Booker Group PLC (BOK.LN) on Thursday reported an 8.6% rise in pretax profit for the first half of fiscal 2018 as sales to retailers grew.Booker said that like-for-like sales to retailers grew 0.6% and to caterers it increased 8.1%.For the six months ended Sept. 8, the food wholesaler made a profit of 88 million pounds ($116.7 million) compared with GBP81 million for the same period a year earlier. Source:…

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Chromebooks strong in back-to-school sales, PC shipments data suggests

“IDC and Gartner reports on third-quarter PC shipments were split rather widely, with IDC reporting a 0.5% decline in PC shipments from the same quarter in 2016, while Gartner reported that shipments fell 3.6%” writes Jeremy C for marketwatch.com. PC shipments have been on the decline for years, with Gartner reporting it was the 12th consecutive quarter of declining year-over-year sales.Gartner reported that Apple shipments declined 5.6% from last year’s third quarter, while IDC said they increased 0.3%.Chromebooks, stripped-down laptops running Google’s Chrome operating system, appeared to fare well with…

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Delta earnings: Analysts expect profit decline

“REVENUE FORECAST: The Atlanta-based company is expected to report revenue of $11.04 billion, up from $10.48 billion a year ago” writes Susan Carey for marketwatch.com. OPERATING MARGIN: Delta last week said it foresees third-quarter operating margin of between 15.5% and 16.5%, which is down from its July guidance of up 18% to 20%.Without the Irma impact, analysts said, Delta would have been at the high end of its previous unit-revenue guidance, suggesting that the pricing environment is stabilizing.LABOR COSTS: Effective last week, Delta moved all of its employees back to…

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Trinity Mirror revenue falls as local ads decline

“Trinity Mirror added that its digital display and transaction revenue grew 14%, but classified digital revenue remained under pressure” writes Adam Clark for marketwatch.com. Publishing print advertising and circulation revenue fell 16% and 7% respectively.The publishing firm said improving trends in nationally sourced print advertising helped it improve from a 9% like-for-like revenue decline in the first half.Trinity Mirror PLC (TNI.LN) said Monday that its like-for-like revenue fell by 8% in the third quarter compared with a year earlier, a slight improvement on the first half of 2017.Publishing revenue for…

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Hurricanes Thought to Crush U.S. job Growth in September

“The U.S. economy lost 33,000 jobs in the aftermath of Hurricanes Harvey and Irma last month, the first decline since September 2010” reports washingtonpost.com. The economy has added an average of 172,000 jobs each month over the past year.But economists expect the numbers to rebound in coming months and the economy to continue to grow.Analysts had been expecting job growth to slump in September after the one-two punch from the hurricanes.They now estimate 138,000 jobs were created in July and 169,000 jobs were created in August. Source: washingtonpost.com Share This:

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Hurricanes Irma and Harvey Spur the First Employment Decline in 7 Years

“Even as the economy suffered losses due to hurricanes, other areas, including healthcare and transportation, experienced significant growth in September” writes Gillian B for theatlantic.com. Despite September’s losses, the labor market is still performing reasonably well, adding an average of 148,000 jobs per month since January. Source: theatlantic.com Share This:

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After hurricanes, U.S. suffers first monthly jobs loss in 7 years

“The U.S. economy lost 33,000 jobs in the aftermath of Hurricanes Harvey and Irma last month, the first decline since September 2010” reports washingtonpost.com. The unemployment rate declined slightly to 4.2 percent.This year, the economy has added an average of 175,000 jobs each month.Analysts had been expecting job growth to slump in September after the one-two punch from the hurricanes. Source: washingtonpost.com Share This:

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Markets News Oil 

Oil drops, aims for first weekly decline in over a month

“As of Thursday, nearly 15% of Gulf oil production and more than 6% of natural-gas production was shut in as the region prepares for Nate, according to the Bureau of Safety and Environmental Enforcement” writes Christopher Alessi for marketwatch.com. Meanwhile, oil prices posted gains Thursday as Saudi King Salman and Russian President Vladimir Putin in Moscow discussed extending Russia’s participation in an agreement to cut global crude production.December Brent crude LCOZ7, -2.77% the global oil benchmark, fell $1.28, or 2.3%, to $55.72 a barrel on London’s ICE Futures exchange.Monthly market…

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