Marks and Spencer’s profits fell by almost two thirds to £176.4 million last year, with the retailer attributing the decline to weaker clothing sales and higher costs from opening new food stores.
Sales remained flat at £10.6 billion in the year to the end of March 2017.
Japanese economic growth was revised down on Thursday, after an unexpected decline in oil inventories and private consumption.
Gross domestic product (GDP) expanded by 0.3 percent in the first quarter, according to the revised figures, the 0.5 percent initially predicted in last month’s preliminary reading.
The annual growth rate was also revised down, to 1 percent from the initial reading of 2.2 percent. Although the figures are much weaker than initially expected, they still represent growth for the economy for the fifth quarter in a row. The figures come after the International Monetary Fund and the World Bank both raised their projections for Japanese expansion.
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Contracts For Difference may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it poses a risk of loss to your capital. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. Please read our risk warning at the end of our brochure. Tax treatment depends on your individual circumstances and may be subject to change in the future. If in any doubt please seek further independent advice.
This offer has been issued and approved by MB Capital.
Terms, Risk Warning & Disclaimer:
Contracts For Difference may be subject to rapid and unexpected price movements and past performance is not necessarily a guide to future performance. Trading in these markets is generally considered to be suitable only for the more experienced investor as it poses a risk of loss to your capital. An investor may not receive back the amount of their original investment and in certain circumstances may be liable for a sum that is greater than their original investment. Please read our risk warning at the end of our brochure. Tax treatment depends on your individual circumstances and may be subject to change in the future. If in any doubt please seek further independent advice.
This offer has been issued and approved by MB Capital.
The Organisation for Economic Cooperation and Development raised their growth expectation to 3.5 percent this year, its strongest estimate since 2011. Growth is then forecast to rise to 3.6 percent in 2018.
The latest figure represents an increase on the 3.3 percent estimate given in March, boosted by an improvement in trade and investment flows offsetting a weaker outlook in the US. Forecasts for the UK’s growth remained the same, at 1.6 percent in 2017 and 1 percent in 2018. It added that growth in the UK was likely to slow heavily in the upcoming years, as uncertainty from Brexit negotiations begins to impact the economy.
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