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Tuesday newspaper round-up: Evergrande, travel industry, travel chaos
Property giant China Evergrande Group has said that it cannot sell properties and other assets fast enough to service its massive $300bn debts, and that its cashflow was under “tremendous pressure”. Only hours after angry investors besieged its Shenzhen headquarters and the company denied it was set for bankruptcy, Evergrande issued a statement to the Hong Kong stock exchange saying that a significant drop in sales would continue this month, which was likely to further deteriorate its liquidity and cash flow.
JD Sports profit soars on US strength and pent-up demand
JD Sports Fashion reported record first-half results boosted by pent-up demand after UK stores reopened from lockdown and acquisitions in the US.
Trainline sees return to profit as ticket sales move online
Trainline predicted a return to profit in the first half of the year as ticket sales recovered from the damage inflicted early in the pandemic.
Investors expect European share rally to continue - BofA
Investors increasingly expect the European equity rally to continue into 2022 but for gains to be more muted, a Bank of America survey showed.
Europe close: Stocks end mixed amid China concerns, valuations drag
European stocks ended the Tuesday session on a mixed note as a weaker-than-expected reading on US consumer prices failed to assuage inflation concerns and amid Covid-19 concerns in China.
Curevac downsizes manufacturing for Covid-19 jab amid reduced demand
CureVac has downsized its capacity for manufacturing its first generation Covid-19 vaccine due to what it said was the lower-than-expected peak demand for the shot and due to the decreased need thanks to ongoing vaccinations globally.
US core CPI slows more quickly than expected in August
Consumer level inflation in the US slowed more quickly than expected last month as the Delta variant of Covid-19 took its toll on travel-related sectors, including airlines and hotels.
BP names new head of gas and low carbon energy operations
BP has named Anja-Isabel Dotzenrath, the former head of German utility RWE's renewables unit, as its new chief executive vice-president of its gas and low carbon energy operations.
Asia close: Chinese stocks drop on Covid outbreak, Nikkei hits over 31-year high
Asia Pacific stocks finished on a mixed note on Tuesday with a small outbreak of Covid-19 in China's Fujian province dragging on that country's stock markets even as Japan's Nikkei-225 hit a more than 31-year high.
NCC Group sees full-year profits jump, reiterates guidance
Cyber-security specialist NCC Group reported a jump in full-year profits while reporting faster growth since period end that led it to reiterate its guidance for the next 12 months.
Ocado Retail reports 'strong' demand, announces plans for new Luton CFC
Ocado Retail saw sales drop by considerably more than expected over its third quarter, but only due to a conflagration at its customer fulfilment centre at Erith.
Bytes trades 'strongly' in H1
Software firm Bytes said on Tuesday that it had continued to trade "strongly" the six months ended 31 August, building on its "robust" maiden full-year results in May 2021 and a "positive start" to the financial year.
Staffline significantly narrows interim pre-tax losses
Recruitment firm Staffline said on Tuesday that interim pre-tax losses had been narrowed significantly thanks to a solid performance by all of its three divisions and cost-cutting efforts.
Kape Technologies raises $354.0m to fund ExpressVPN acquisition
Software firm Kape Technologies has successfully raised gross proceeds of approximately $354. 0m by way of a share placing and an additional approximately $2. 5m as part of a retail offer.
London close: Stocks fall as investors mull UK jobs, US inflation data
London stocks ended down on Tuesday, led lower by weakness in the mining sector as investors mulled the latest UK jobs and US inflation data.
Goldman Sachs to replace CFO at year-end
US banking giant Goldman Sachs will replace chief financial officer Stephen Scherr with Denis Coleman at the end of the year.
Apple unveils new versions of multiple devices
Tech giant Apple unveiled new versions of several of their iconic devices on Tuesday, launching four new 5G-enabled iPhones and multiple updates to the iPad and Apple Watch.
US open: Dow Jones heads south following August CPI report
The Dow Jones and S&P 500 were both back in the red shortly after the opening bell on Tuesday as investors thumbed over the hotly-anticipated monthly inflation report early on in the session.
US close: Stocks close lower following CPI report, Apple product launch
Wall Street stocks ended the session lower on Tuesday as investors thumbed over August's hotly-anticipated inflation report and the announcement of several new products from Apple.
Wednesday preview: China activity data, Fevertree in focus
All eyes in the middle of the week will be on a raft of key economic activity data in the People's Republic of China.