warns: Trump trade war hitting global economy. Fears of a massive escalation in Donald Trump’s trade war with China are already damaging the global economy and “dampening” demand, the boss of the world’s biggest miner, BHP Billiton, warned on Tuesday.
Persimmon (PSN) boss shrugs off housing market fears as profits rise. The chief executive was bullish as he said pre-tax profits in the six months to June rose 13% to £516.3 million. Revenue was up 5% to £1.8 billion.
Tesco (TSCO) – Summer boozing and Love Island kept supermarkets’ tills ringing throughout July, industry figures showed on Tuesday. The scorching weather meant thirsty Brits spent an extra £67 million on alcohol, according to research firm Kantar. And thanks to Love Island and its scantily clad cast, sales of men’s skincare products also jumped by 16% for the 12 weeks to August 12, it said. Of the Big Four supermarkets, soon to be three if Sainsbury (J) (SBRY) takes over Asda in a mooted £14 billion deal, Morrison (Wm) Supermarkets (MRW) was crowned the winner with 2.7% sales growth, luring more affluent shoppers to its stores. Asda was just behind at 2.6%.
UK staycations lead to weaker summer bookings at Hostelworld Group (HSW). Brits shunned summer getaways to enjoy the heatwave and World Cup at home, the new boss of online booking firm Hostelworld said on Tuesday as he revealed lower sales.
