Smartphone Data Shows America\'s Cautious Comeback

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4) New Look has been forced to overhaul its finances to secure a £40m cash injection from lenders to stay afloat. The ailing fashion retailer will trigger a company voluntary arrangement (CVA), its second in two years, to shake up the way it pays rent. It wants to switch most of its 496 stores to paying rent based on revenues for each site. 

5) London City airport puts expansion on hold: The Docklands airport will pause a £480m programme to boost passenger capacity once construction on eight new stands for aircraft and a taxiway parallel to the runway is finished at the end of the year.

What happened overnight 

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.14pc, although shares in Japan rose 0.11pc.

South Korean stocks fell 1.28pc after authorities reported the largest number of new coronavirus cases since March.

Chinese shares rose 0.18pc in choppy trade, but a slower-than-expected rise in industrial production and a surprise fall in retail sales weighed on investor sentiment.

China's retail sales - a key indication of consumer sentiment - shrank by 1.1pc on-year in July, falling short of forecasts and suggesting many are still reticent about going out to spend time and money.

The latest data follows a drop of 1.8pc on-year for retail sales in June. While the sale of goods just crept into positive territory, growing 0.2pc, the catering industry was particularly badly hit, with sales down 11pc.

Coming up today

Interim results: Lookers

Economics: Industrial production, retail sales (China); Q2 GDP (eurozone); retail sales, consumer sentiment (US)

Source : https://www.telegraph.co.uk/business/2020/08/14/markets-live-latest-coronavirus-news-pound-euro-ftse-100/

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