LONDON—Britain’s economy grew more slowly than previously thought in the July-September period, before the Omicron variant of the coronavirus posed a further threat to the recovery later in the year, official data showed on Wednesday. Gross domestic product in the world’s fifth-biggest economy increased by 1.1 percent in the third quarter, weaker than a preliminary…
China’s Growth Picks Up Marginally in November
News Analysis After a disappointing couple of months, China’s economy improved modestly in November. It seems that the worst of the energy shortfall had lifted, allowing some catch-up last month. Beneath these kinds of month-to-month variation, however, China’s economic and financial fundamentals suggest a slower growth profile for some time to come. Chinese leader Xi…
UBS Sees Cloud Growth Reacceleration to Lead to SAP’s Re-rating
UBS analyst Michael Briest upgraded SAP SE to Buy from Neutral with a price target of EUR 147, up from EUR 130, implying an 8.6 percent upside. The analyst believes a reacceleration of cloud growth will drive a re-rating of the shares in 2022. Briest is more confident in the benefit to revenues from backlog…
Google, Meta Dominate as Digital Propels Global Advertising Growth: Forecasts
December 7, 2021
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The global advertising industry will notch higher growth this year than previously expected as brands are relying more heavily on search engine and social media companies such as Alphabet Inc.’s Google and Meta Platforms Inc. to reach customers during the pandemic, according to two ad industry forecasts released on Monday. Despite a year marked by…
Omicron Variant Likely to Usher Growth Downgrades: IMF’s Georgieva
December 4, 2021
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WASHINGTON—Global economic growth projections from the International Monetary Fund will likely be downgraded due to the emergence of the Omicron variant of the coronavirus, IMF Managing Director Kristalina Georgieva said on Friday. “A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of…
Euro Zone November Business Growth Acceleration May Be Temporary: PMI
December 3, 2021
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LONDON—Euro zone business activity accelerated last month but the bounce may be temporary as demand growth weakened and fears about the Omicron coronavirus variant put a dent in optimism, a survey showed on Friday. IHS Markit’s Flash Composite Purchasing Managers’ Index (PMI), a good gauge of overall economic health, jumped to 55.4 in November from…
Euro Zone November Growth Surprisingly Strong but Outlook Darkens: PMI
November 23, 2021
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LONDON—Euro zone business growth unexpectedly accelerated this month but another wave of coronavirus infections and new restrictions, alongside price pressures, are likely to put a dent in December’s expansion, a survey showed on Tuesday. IHS Markit’s Flash Composite Purchasing Managers’ Index, a good indicator of overall economic health, jumped to 55.8 in November from 54.2…
China’s Regulatory Crackdown Pushes Tencent to Slowest Revenue Growth Since 2004
November 10, 2021
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SHANGHAI—Chinese gaming and social media giant Tencent Holdings posted its slowest revenue growth since it went public in 2004 on Wednesday, hurt by a regulatory crackdown, and said the outlook for the advertising sector would remain weak into next year. Revenue climbed 13 percent to 142.4 billion yuan, slightly below expectations, and was the slowest…
Asian Markets Lower After Wall Street Record, China Trade Growth
November 8, 2021
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BEIJING—Global stock markets and Wall Street futures declined Monday after stronger U.S. hiring and a double-digit rise in Chinese exports. London and Frankfurt opened lower. Tokyo, Hong Kong, and Sydney declined while Shanghai advanced. U.S. employers hired more people than expected in October, according to government data released on Friday. China’s October exports rose 27.1…
JPMorgan Cuts China Growth Forecast for Fifth Time Since August
November 5, 2021
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LONDON—JPMorgan cuts its fourth quarter growth forecast for China to 4.0 percent quarter-on-quarter from 5.0 percent on Friday, citing the impact of power shortages and the recurrence of COVID-19 clusters hitting consumer spending and services. “Looking back, we have downgraded China’s growth forecasts five times since August,” JPMorgan’s Haibin Zhu said in a note, adding…
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