Business news

• Twitter accounts of Biden, Musk and other prominent figures apparently hacked in bitcoin scam

  15-07-2020 23:46 via uk.finance.yahoo.com
  
  Twitter accounts of Biden, Musk and other prominent figures apparently hacked in bitcoin scamAccounts of Uber and Apple also appear to have been compromised as part of scam instructing followers to transfer cryptocurrency
  
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• Gove defends post-Brexit plan for UK internal market

  15-07-2020 23:42
  Minister rejects claims by SNP government that London is engaged in a power grab
  
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• Britain publishes plans to keep internal trade flowing after Brexit

  15-07-2020 23:37 via uk.finance.yahoo.com
  
  Britain publishes plans on Thursday to keep trade flowing freely between its constituent nations when regulatory powers are reclaimed from the European Union at the end of the year and redistributed to devolved governments in Scotland, Wales and Northern Ireland.While it was part of the EU, Britain abided by the bloc's rules in areas like agriculture, the environment, consumer protection and employment rights.Now that Britain has left, those powers will be repatriated to the UK.
  
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• Questor: can our dire Fantasy Fund Manager performance be rescued by this ‘value’ fund?

  15-07-2020 23:32 via uk.finance.yahoo.com
  
  Questor’s decision to pin its hopes of winning The Telegraph’s Fantasy Fund Manager game on technology investment trusts now looks very poorly timed. We added Scottish Mortgage, Polar Capital Technology and Allianz Technology to this column’s entry in the contest last week but early this week investors turned against tech stocks and these trusts’ shares have suffered as a result. Such falls make barely a dent in the portfolios’ stellar long-term performance records
  
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• Virgin Galactic appoints new chief as it prepares for commercial service

  15-07-2020 23:12 via uk.finance.yahoo.com
  
  Sir Richard Branson's space travel company has appointed Michael Colglazier in the senior role.
  
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• Twitter silences some verified accounts after wave of hacks

  15-07-2020 23:05 via uk.finance.yahoo.com
  
  A series of high-profile Twitteraccounts were hijacked on Wednesday, with some of the platform's top voices - including U.S. presidential candidate Joe Biden, reality television show star Kim Kardashian, former U.S. President Barack Obama, billionaire Elon Musk, and rapper Kanye West, among many others - used to solicit digital currency.The cause of the breach was not immediately clear and - more than an hour after the first wave of hacks - Twitter took the extraordinary step of preventing at le
  
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• Twitter silences some top accounts after internal systems hacked

  15-07-2020 23:05 via uk.finance.yahoo.com
  
  Twittersaid hackers accessed its internal systems to hijack some of the platform's top voices including U.S. presidential candidate Joe Biden, reality TV star Kim Kardashian, former U.S. President Barack Obama and billionaire Elon Musk and used them to solicit digital currency.Twitter said employees with access to its internal systems had been successfully targeted by hackers who "used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf."Twi
  
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• High-profile Twitter accounts swept up in wave of apparent hacking

  15-07-2020 23:05 via uk.finance.yahoo.com
  
  A series of high-profile Twitteraccounts were hijacked on Wednesday, with some of the platform's top voices - including U.S. presidential candidate Joe Biden, reality television show star Kim Kardashian, former U.S. President Barack Obama, billionaire Elon Musk, and rapper Kanye West, among many others - used to solicit digital currency."This appears to be the worst hack of a major social media platform yet," said Dmitri Alperovitch, who co-founded cybersecurity company CrowdStrike.
  
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• Joe Biden, Jeff Bezos and Elon Musk Twitter accounts taken over in major cryptocurrency scam attack

  15-07-2020 22:40 via uk.finance.yahoo.com
  
  A mass Twitter hack affected entrepreneurs including Jeff Bezos and Bill Gates, as well as Democratic presidential candidate Joe Biden, Apple, Uber and half a dozen cryptocurrency accounts on Wednesday. Kanye West, Mike Bloomberg and Elon Musk were also affected by the attack, which first hit early on Wednesday afternoon and continued for over an hour. The accounts, which between them have more than 100m followers, posted scam links and messages directing people to send bitcoin to particular wal
  
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• Joe Biden, Bill Gates and Barack Obama Twitter accounts taken over in major cryptocurrency scam attack

  15-07-2020 22:40 via uk.finance.yahoo.com
  
  A mass Twitter hack affected Barack Obama, Democratic presidential candidate Joe Biden, Apple, Uber and half a dozen cryptocurrency accounts on Wednesday. Jeff Bezos, Bill Gates, Kanye West, Mike Bloomberg and Elon Musk were also affected by the attack, which first hit early on Wednesday afternoon and continued for over an hour. The accounts, which between them have hundreds of millions of followers, posted scam links and messages directing people to send bitcoin to particular wallets, with the
  
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• Joe Biden, Bill Gates and Barack Obama Twitter accounts taken over in major bitcoin scam attack

  15-07-2020 22:40 via uk.finance.yahoo.com
  
  A mass Twitter hack affected Barack Obama, Democratic presidential candidate Joe Biden, Apple, Uber and half a dozen cryptocurrency accounts on Wednesday. The world's most high-profile business leaders, influencers and politicians were also affected by the attack, which first hit early on Wednesday afternoon and continued for over an hour. The accounts, which between them have hundreds of millions of followers, posted scam links and messages directing people to send bitcoin to particular wallets
  
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• Google ties more work tools into Gmail, aiming to get ahead of Microsoft

  15-07-2020 22:24 via uk.finance.yahoo.com
  
  Alphabet Inc'sGoogle on Wednesday said its corporate Gmail customers will now be able to edit documents and other files without leaving the email service, as it aims to lure clients from rivals by making its tools more integrated.The announcement was made at Google's cloud unit's annual customer and partner conference, which has been turned into a virtual gathering over several weeks due to the novel coronavirus pandemic.Google has been trying for more than a decade to catch up with Microsoft Co
  
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• US announces visa restrictions barring Huawei employees

  15-07-2020 22:13 via uk.finance.yahoo.com
  
  The US has announced visa restrictions on employees of Chinese technology companies, arguing that they enable the state to commit human rights abuses. Secretary of State Mike Pompeo said that the changes would affect some employees of telecoms company Huawei. "Companies impacted by today’s action include Huawei, an arm of the CCP’s surveillance state that censors political dissidents and enables mass internment camps in Xinjiang and the indentured servitude of its population shipped
  
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• Margrethe Vestager was 100% correct over public mood on Apple tax case

  15-07-2020 21:55 via uk.finance.yahoo.com
  
  Margrethe Vestager was 100% correct over public mood on Apple tax caseCourt defeat for Brussels is reminder of glacial pace at which international tax reform proceeds
  
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• COVID-19 cases are overwhelming South African city

  15-07-2020 21:31 via uk.finance.yahoo.com
  
  South Africa faces a rising number of coronavirus cases - and the health system in parts of the country is becoming overwhelmed.
  
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• Fear of Pizza Express closures as chain faces takeover by bondholders

  15-07-2020 21:27 via uk.finance.yahoo.com
  
  Fear of Pizza Express closures as chain faces takeover by bondholdersGroup of investors in bonds worth £465m reportedly in advanced talks over deal
  
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• German online fashion retailer Zalando raises full year guidance

  15-07-2020 21:21 via uk.finance.yahoo.com
  
  The company said it expects to grow gross merchandise volume (GMV) by 20% to 25% and revenue by 15% to 20% in 2020, up from its guidance from May 6 when the company had expected GMV and revenue growth of 10% to 20%.Europe's biggest online-only fashion retailer said it expects adjusted earnings before interest and tax (EBIT) of 250-300 million euros for the full year.The company said that based on preliminary figures for the second quarter, it has grown GMV by 32% to 34% to 2.67-2.71 billion euro
  
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• British Gas staff told to accept new working conditions

  15-07-2020 21:16 via uk.finance.yahoo.com
  
  The owner of British Gas has issued an ultimatum to more than 21,000 staff: accept new contracts or you could lose your jobs. It comes after Centrica said last month that it would be axing about 5,000 jobs after years of declining customer numbers and shrinking profits. It also said at the time it would work with staff to “simplify” terms and conditions for employees. The company said on Wednesday that measures to terminate employees before re-engaging them on fresh terms, known as a
  
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• Fiat and Peugeot rebrand merged company as 'Stellantis'

  15-07-2020 21:13 via uk.finance.yahoo.com
  
  The $50bn merger of car makers Fiat Chrysler and PSA Group will not only mean a new force in the automotive world, but also a new name: “Stellantis”. According to the two manufacturers, the new label is “rooted in the Latin verb ‘stello’ meaning to brighten with stars”. A joint announcement from the businesses added that the new title “draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in
  
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• UBS will no longer be able to contest client data sent to France tax authorities - Swiss court

  15-07-2020 21:09 via uk.finance.yahoo.com
  
  UBSwill no longer be informed or be able to contest customer data the Swiss tax authorities hand over to counterparties in France investigating alleged tax avoidance, a Swiss court said on Wednesday.Switzerland's Federal Administrative Court upheld a decision to revoke UBS's position as a party to the arrangements over what information to send to France.Under a previous arrangement, the Swiss Federal Tax Administration had allowed UBS to inspect the files and informthe bank of all final decision
  
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• U.S. manufacturing snaps back; new COVID-19 cases threaten recovery

  15-07-2020 21:04 via uk.finance.yahoo.com
  
  U.S. factory output rose by the most in more than 74 years in June as motor vehicle production accelerated amid the reopening of businesses, but the nascent economic recovery was overshadowed by surging new COVID-19 infections.Businesses have resumed operations after being shuttered in mid-March in an effort to slow the spread of the coronavirus."The manufacturing recovery will proceed at a much slower pace compared to the initial, partial snap-back phase," said Oren Klachkin, lead U.S. economis
  
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• 'Not much difference': few takers on first day of hospitality VAT cut

  15-07-2020 21:00 via uk.finance.yahoo.com
  
  'Not much difference': few takers on first day of hospitality VAT cutMuch remained quiet or closed in centres of Manchester and London as measure came into effect* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Fiat Chrysler, PSA to emerge as Stellantis following merger next year

  15-07-2020 20:59 via uk.finance.yahoo.com
  
  In December, Fiat Chrysler and PSA agreed to combine in a $50 billion all-share deal to create the world's fourth-biggest carmaker, and unite brands such as Fiat, Jeep, Dodge, Ram and Maserati with the likes of Peugeot, Opel and DS.The process of identifying the new name for the merged company was supported by Publicis Group , the companies said.
  
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• France to cut business taxes by 20 billion euros over two years

  15-07-2020 20:40 via uk.finance.yahoo.com
  
  The French government will cut taxes French companies have to pay in addition to normal corporate income tax by 20 billion euros over the next two years, Finance Minister Bruno Le Maire said on Wednesday."It will be a massive cut, twice 10 billion euros - 10 billion in 2021 and 10 billion euros in 2022," Le Maire said on France 2 television.
  
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• Thousands of Centrica workers ‘facing cuts to pay and conditions’

  15-07-2020 20:35 via uk.finance.yahoo.com
  
  The GMB said it has started talks with the company on planned changes.
  
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• Next set to win battle for Victoria's Secret UK

  15-07-2020 20:25 via uk.finance.yahoo.com
  
  Next is poised to take over Victoria’s Secret business in the UK after fending off competition from Marks & Spencer and other rivals for the lingerie brand. The retailer has secured an exclusivity agreement until the end of September after it was chosen as the franchise partner in the UK by administrators at Deloitte. The chain, famous for its fashion shows featuring supermodel “angels”, has 25 shops. Next has not yet agreed which sites it will keep, if any, as it tries to
  
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• China lashes out at Boris Johnson over Huawei ban

  15-07-2020 20:20
  Beijing accuses UK prime minister of turning Britain into ‘vassal’ of the US
  
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• China attacks Boris Johnson over Huawei ban

  15-07-2020 20:20
  Beijing accuses UK prime minister of turning Britain into a ‘vassal’ of the US
  
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• EU struggles for unity ahead of crunch recovery fund summit

  15-07-2020 20:10 via uk.finance.yahoo.com
  
  European Union (EU) member states struggled on Wednesday to resolve differences over a massive recovery plan for their coronavirus-hit economies, but agreed a deal was crucial at an end-of-week summit for the bloc's credibility.With economies in freefall due to the pandemic, European leaders will hold their first face-to-face talks since lockdowns took hold from March and there were weeks of feuding over how the 27-nation bloc should respond.At stake in the Friday-Saturday summit in Brussels is
  
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• Capital gains tax review: your questions answered

  15-07-2020 20:03 via uk.finance.yahoo.com
  
  Capital gains tax review: your questions answeredAll you need to know about CGT and the possible outcomes of the chancellor’s surprise review
  
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• Bitcoin scam: Twitter suspends all verified accounts following high-profile account hacks

  15-07-2020 19:53 via uk.finance.yahoo.com
  
  Twitter has temporarily suspended verified accounts on the platform following a cryptocurrency scam that targeted several high-profile users, including Elon Musk and Bill Gates as well as Joe Biden, Barack Obama, Kanye West and several company accounts, including Apple and Square's Cash App, among others."We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly," the platform announced an hour after initia
  
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• Coronavirus: No help for workers excluded from government support, says chancellor

  15-07-2020 19:49 via uk.finance.yahoo.com
  
  Up to 3 million people who have been excluded from coronavirus financial support will get no help beyond what is already available and the government must now “look forward”, the chancellor has said.Asked whether he would look again at support schemes which have excluded millions of freelancers, the recently self-employed and company directors, Rishi Sunak confirmed that no new measures would be introduced.
  
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• Asos considers action against Leicester supplier in ethical audit

  15-07-2020 19:39 via uk.finance.yahoo.com
  
  Asos considers action against Leicester supplier in ethical auditBoss of online fashion retailer says factory tagged as ‘red critical’ in last few months* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Tourism in emerging markets faces slow recovery from virus wipe-out - IIF

  15-07-2020 19:38 via uk.finance.yahoo.com
  
  The coronavirus crisis decimated tourism in developing countries such as the Dominican Republic, Turkey, Vietnam and Cambodia in the first half of the year, battering a sector vital to many developing economies, high frequency data showed.Countries around the world shuttered their economies and imposed travel restrictions earlier this year to halt the spread of the coronavirus which has killed more than 578,000 people."COVID-19 and the lockdown measures introduced to address the public health cr
  
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• Goldman Sachs cashes in on trading frenzy with revenue surge

  15-07-2020 19:36 via uk.finance.yahoo.com
  
  Goldman Sachs has emerged as the latest Wall Street bank to cash in on the coronavirus trading frenzy in the second quarter after revenues from trading shot up 93pc over the period and investment banking revenues hit a record. The Wall Street banking giant's revenues rose 41pc to $13.3bn in the three months to June, compared with the same period last year, a near-record as market volatility caused by coronavirus triggered a trading boom and significantly beat market estimates. Busy trading desks
  
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• Council mergers will be price for elected mayors, minister says

  15-07-2020 19:32
  Proposals would be biggest reorganisation of English local authorities for 35 years
  
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• There are calls to ban TikTok in Australia – but you should worry about Facebook too

  15-07-2020 19:30 via uk.finance.yahoo.com
  
  There are calls to ban TikTok in Australia – but you should worry about Facebook too. TikTok denies it provides user data to the Chinese government. We look at the claims and the facts
  
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• First we feared how bad Australia's economy might get. Now we worry how long it will be so bad

  15-07-2020 19:30 via uk.finance.yahoo.com
  
  First we feared how bad Australia's economy might get. Now we worry how long it will be so bad. The latest jobs data snuffs out hopes that Australia is on the way to post-coronavirus recovery
  
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• Over 600,000 teenagers furloughed

  15-07-2020 19:19 via uk.finance.yahoo.com
  
  More than 600,000 teenagers have been furloughed under the Government's job retention scheme, the latest official figures have shown. Some 9.4m jobs have been protected so far under the £60bn scheme but 17-year-old girls in the workforce are the most likely group to find themselves furloughed. The HMRC data showed 87,200 or 61pc of 142,400 eligible jobs being paid for by the taxpayer as of June 30, the highest of any age or sex category.
  
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• VW centralises group software development at Audi

  15-07-2020 19:18 via uk.finance.yahoo.com
  
  Volkswagen on Wednesday said it was replacing software chief Christian Senger and moving the centre of its group-wide software development from its Wolfsburg headquarters to Ingolstadt, where premium brand Audi is based.Senger, the current chief executive of Volkswagen Group's Car.Software unit, will be replaced by Dirk Hilgenberg, former senior vice president manufacturing engineering at BMW, VW said.Markus Duesmann, Volkswagen Group's head of development and also Audi's chief executive, said a
  
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• Sunak says UK companies should not expect help with their debts

  15-07-2020 19:07
  Chancellor pushes back against idea of government buying equity stakes in companies
  
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• Candidates for WTO chief urge hasty vetting of next leader amid 'deep crisis'

  15-07-2020 19:00 via uk.finance.yahoo.com
  
  Candidates to lead the World Trade Organization urged members to reach a decision quickly on Wednesday and address what one described as a "deep crisis" as it began the vetting process.Nominations from eight countries have been submitted, including three women, three African candidates and a former Saudi air force pilot, to replace Brazil's Roberto Azevedo, who will step down a year early at the end of August."This needs to be done as quick as possible," said Jesus Seade, a senior trade official
  
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• Depp and Heard depart UK court on day seven of libel trial

  15-07-2020 18:53 via uk.finance.yahoo.com
  
  Johnny Depp and ex-wife Amber Heard departs the Royal Courts of Justice on the seventh day of the actor's libel action against News Group Newspapers. .
  
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• Swiss insurers oppose immigration changes, Swiss Re head tells paper

  15-07-2020 18:46 via uk.finance.yahoo.com
  
  Switzerland's insurance industry is against tightening the country's immigration rules, a move that will be put to voters this year, Swiss Re Chief Executive Christian Mumenthaler told Handelszeitung newspaper.Mumenthaler is the latest business figure to lobby against the proposals, which could end freedom of movement between Switzerland and the European Union and wreck relations between Bern and Brussels if accepted.The Swiss Trade Association has also spoken out against the referendum, launche
  
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• Socially distanced, but full of flavour: Dolce & Gabbana's spring/summer 2021 menswear

  15-07-2020 18:29 via uk.finance.yahoo.com
  
  Stefano Gabbana and Domenico Dolce’s devotion to La Dolce Vita takes myriad forms. From shows in fantastical bel paese locations to high-fashion catwalk homages to the Sicilian famiglia, and all the black lace and '50s pinstripes that these entail. But for the house’s first show in the wake of the Covid-19 crisis, patriotism towards their native Italy took a more nuanced approach. “La Dolce Vita has become a deeper concept than just living the high life, it means caring about t
  
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• Walmart becomes biggest company to mandate customers wear masks

  15-07-2020 18:23 via uk.finance.yahoo.com
  
  As coronavirus infections spike in many states across the country, face masks have become the leading recommendation from health experts and government officials looking to control the pandemic, while reopening the economy.Walmart said about 65% of its over 5,000 U.S. stores, including its wholesale Sam's Club outlets, are located in areas where there is already some form of government mandate on face coverings.Trade group National Retail Federation (NRF) on Wednesday pushed for retailers to ado
  
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• London markets bounce on hopes of Covid-19 vaccine progress

  15-07-2020 18:22 via uk.finance.yahoo.com
  
  The FTSE 100 closed 112.9 points higher at 6,292.65p at the end of trading on Wednesday.
  
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• Bitcoin scam: Elon Musk, Apple, Bill Gates, Kanye West and more hacked by cryptocurrency scammers

  15-07-2020 18:13 via uk.finance.yahoo.com
  
  Hackers promoting cryptocurrency scams targeted Elon Musk, Bill Gates and Kanye West, among other high-profile Twitter users, by using their accounts to promise to "double" payments to a bitcoin account."Everyone is asking me to give back, and now is the time," said a message on the Microsoft founder's Twitter page, linking to a bitcoin address and promising to "double" all payments "for the next 30 minutes."
  
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• Global consumer confidence plunged in second quarter, rebound likely sluggish - Conference Board

  15-07-2020 18:10 via uk.finance.yahoo.com
  
  "Early signs of economic rebound in several markets do not necessarily portend a quick recovery in consumer confidence in the coming months," said Bart van Ark, chief economist of the Conference Board, a member organization of large U.S. companies.The Conference Board said the seeds of a potential longer-term shift in consumer patterns may be emerging.
  
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• Global consumer confidence plunged in Q2, rebound likely sluggish -Conference Board

  15-07-2020 18:10 via uk.finance.yahoo.com
  
  "Early signs of economic rebound in several markets do not necessarily portend a quick recovery in consumer confidence in the coming months," said Bart van Ark, chief economist of the Conference Board, a member organization of large U.S. companies.The Conference Board said the seeds of a potential longer-term shift in consumer patterns may be emerging.
  
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