Equity markets across Asia slipped, with Europe following suit, after data from China showed that the world’s second-largest economy expanded at its slowest pace in almost three decades in the third quarter.
InterContinental Hotels Group, the owner of the Crowne Plaza and Holiday Inn brands, said that protests in Hong Kong had caused revenues in the region to drop by more than a third as it also faced tough conditions in the US and mainland China.
The London Stock Exchange Group has begun the search for a new chief financial officer after it said David Warren will retire once he has helped to complete the planned $27bn purchase of Refinitiv, the data and trading group.
BHP touted its green credentials on Thursday, even as nearly a quarter of its UK shareholders supported an investor resolution calling on the world’s largest miner to end its membership of lobbying groups for the industry.
Industrial production in the US declined sharply in September, driven by weakness in mining, as lower global oil prices hit America’s oil patch, and automobile production, after a strike at General Motors.
The German government has revised down its forecast for economic growth next year from 1.5 per cent to 1 per cent, in a further sign of the slowdown that is clouding the prospects for the eurozone’s largest economy.
Investment in European food and agritech start-ups is expected to more than double this year as corporate and generalist venture capital groups increased funding in what has been regarded as a niche market.
IBM came up short of Wall Street’s revenue expectations in the latest quarter, as the acquisition of open source company Red Hat failed to stem a 3.9 per cent decline that partly reflected signs of growing business uncertainty in Europe.
Many businesses have lowered their outlooks for the next year, with companies in the Midwest and Great Plains particularly downbeat, according to the Fed Beige Book’s report of conversations with local business leaders around the US.