Pound at 37-year low, retail sales drop, US stocks slip

(Evening Standard) The pound today dipped to a fresh 37-year low after retail sales volumes fell by more than expected in August. The 1.6% month-on-month decline reported by the Office for National Statistics, which compared with City forecasts for a fall of 0.5%, was driven by a broad range of …

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FedEx plummets as forecast withdrawal fans slowdown fears

Shares of FedEx slumped in premarket trading on Friday as the global delivery heavyweight’s forecast withdrawal sounded alarm about softening consumer demand and hammered equities in the sector worldwide. The U.S. firm joined major global logistics peers including Hong Kong’s Cathay Pacific Airways and France-based transporter CMA CGM in signaling …

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European markets open to close, data, news and earnings

The British pound has dropped below $1.14 for the first time since 1985 as a combination of dollar strength and recession warnings weighed on the U.K.’s currency. Sterling fell as low as $1.135 at 8:50 a.m. London before rising slightly to $1.1378, marking a fresh 37-year low. It followed the …

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