UK's Trade Performance With US Weakens on Strong Dollar, Fuel Imports
16 Agosto 2022 - 5:02AM
Noticias Dow Jones
UK's Trade Performance With US Weakens on Strong Dollar, Fuel
Imports
0832 GMT - The U.K. has recorded two consecutive quarters of a
goods trade deficit with the U.S. for first time since 1998, driven
by a strong dollar and rising fuel imports, analysis from Ebury
shows. The deficit reached GBP3.1 billion in the first quarter, the
largest-ever negative goods gap with the U.S., and GBP700 million
in the second quarter. "Evidently, the devalued pound against the
dollar this year has bumped up the value of imports from the U.S.,"
Jack Sirett, Ebury's head of dealing, writes. "As inflationary
pressures continue to build in the U.K. ahead of the October energy
price cap hike, the combination of growing imports from the States
and a strengthening USD will add further to that volatile
cocktail." (renae.dyer@wsj.com)
Companies News:
AstraZeneca's Lynparza Supplemental New Drug Application Granted
Priority Review by FDA
AstraZeneca PLC said Tuesday that its supplemental new drug
application, or sNDA, for its cancer treatment, Lynparza in
combination with abiraterone, has been granted a priority review by
the U.S. Food and Drug Administration.
---
Abrdn Sells GBP225M Shareholding in HDFC Asset Management
abrdn PLC said Tuesday that it has sold 12.8 million shares in
HDFC Asset Management Co. for 225 million pounds ($271.2 million),
with the proceeds to be used for general corporate purposes.
---
Sage Group to Buy Lockstep for Undisclosed Sum to Drive
Growth
Sage Group PLC said Tuesday that it has agreed to buy cloud
accounting technology provider Lockstep for an undisclosed amount
to accelerate the growth strategy.
---
Watches of Switzerland 1Q Revenue Rose Amid Luxury Demand; Backs
FY 2023 Views
Watches of Switzerland Group PLC said Tuesday that its
performance for the first quarter of fiscal 2023 was robust as
demand for luxury products continues to increase, and reiterated
its previous guidance.
---
Ted Baker Agrees to $254.3 Mln Takeover by Reebok Owner
Authentic Brands
Ted Baker PLC said Tuesday that it has agreed to a 211 million
pound ($254.3 million) final cash offer from Juicy Couture, Reebok
and David Beckham brand owner Authentic Brands Group LLC.
Market Talk:
UK Labor Market Expected to Remain Tight Despite Economic
Slowdown
0841 GMT - While the June labor market report showed little
change in the unemployment rate, wage data was stronger than
expected and labor-force participation still remains suppressed
relative to prepandemic levels, Goldman Sachs says in a note.
Tuesday's sata is consistent with Goldman Sachs's view that the
U.K. labor market will remain tight and wage growth will continue
to be elevated despite the recent slowdown in GDP growth. Given the
tight labor market and strong inflationary pressures, the American
bank continues to expect the Bank of England to raise the deposit
rate by 50 basis points in September and 25 basis points in
November and December. (maria.martinez@wsj.com)
Contact: London NewsPlus; paul.larkins@wsj.com
(END) Dow Jones Newswires
August 16, 2022 05:47 ET (09:47 GMT)
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