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Tag: falls

Record falls on Wall St spark losses worldwide

Record falls on Wall St spark losses worldwide

Business
Shares across Asia have taken a heavy beating after New York's Dow Jones index suffered its biggest drop in six-and-a-half years.A wild day for US markets on Monday caused panic to spread. At one point, Japan's Nikkei 225 share benchmark plunged by 7.1%, but recovered some of the losses to close 4.7% down.Wall Street's record-breaking loss also saw Hong Kong's Hang Seng index fall by 5.12%, with South Korea's Kospi losing 1.4%.In China, the Shanghai Composite Index lost 3.35% - or 116.85 points - while the Shenzhen Composite Index, tracking China's second exchange, plunged 4.44%, or 80.21 points.The slump means the Dow Jones has wiped out of all of its gains so far in 2018, following months of surges fuelled by optimism about the US economy, corporate earnings and the global outlook.Many i...
Real-term pay falls for sixth month in a row

Real-term pay falls for sixth month in a row

Business
British workers have now been squeezed by six months of falling real-term wages, official figures show.Average weekly earnings excluding bonuses rose by 2.1% in the three months to August, according to the Office for National Statistics (ONS) - well below the rise in the cost of living.It meant that real pay - which takes account of the effect of inflation on spending power - was 0.4% lower over the period, extending a decline in this measure to six months.On a brighter note, unemployment continued to fall over the latest three-month period, dropping by 52,000 to 1.44 million.Meanwhile, the unemployment rate remained unchanged at 4.3%, its lowest level since 1975.There were 32.1 million people in work, a rise of 94,000 over the period - and the ONS said employment growth was driven mainly ...
Hong Kong Open: Venus Williams falls in second round

Hong Kong Open: Venus Williams falls in second round

Sports
Naomi Osaka upended second-seeded Venus Williams in their second-round match at the Hong Kong Tennis Open on Wednesday. The 19-year-old Japanese player posted a 7-5, 6-2 victory to exact a bit of revenge from getting bounced by Williams in their Wimbledon match earlier this year. "I feel like even if I hit one semi-short ball she would come in and crush it, so I had to play really well," the 64th-ranked Osaka said of defeating the fifth-ranked Williams. The win comes on the heels of Osaka upsetting sixth-ranked Angelique Kerber at the U.S. Open. Williams benefited from a double fault by Osaka to earn the first break of the match, but the 37-year-old was unable to capitalize. Osaka rebounded with a flourish to claim the first set and rushed out to a 5-0 edge in the second before dismissing ...
India going digital, paper clearing at banks falls

India going digital, paper clearing at banks falls

Finance
The Reserve Bank of India data shows the value of paper-clearing transactions fell a fifth from Rs 100 lakh crore in 201213 to Rs 80.9 lakh crore at the end of 2016-17. In the same period, the volume of such transactions fell to 120.6 crore from 131.3 crore. Between 2016 and 2017, the volume of cheque transactions fell by over 11 crore. Paper clearing transactions, which accounted for 82 per cent value of total retail payments in 2011-12, shrunk to 37 per cent in 2016-17. "Paper-clearing transactions have gone down because other modes like NEFT, RTGS, IMPS have climbed up significantly ," said Mrityunjay Mahapatra, DMD, State Bank of India. Paper clearing consists of cheque truncation system, MICR (Magnetic Ink Character Recognition) clearing and nonMICR clearing. The RBI data shows t...
Hasbro Deal for Lions Gate Falls Through. Which Movie Studio Is Next?

Hasbro Deal for Lions Gate Falls Through. Which Movie Studio Is Next?

Finance
Hasbro (NASDAQ: HAS) is 0-for-2 when it comes to buying big movie studios. Reuters recently revealed that the toy maker was in talks to buy Lions Gate Entertainment (NYSE: LGF-A) (NYSE: LGF-B) , but the deal apparently fell apart over price. Similar to Hasbro's failed attempt to acquire DreamWorks Animation in 2014, which also went nowhere because of price, it shows the toy maker is serious about breaking into Hollywood.Making toys is OK, but the real money is in movies, which can lead to higher toy sales. Owning a studio outright cuts out the middleman and allows Hasbro to keep more of the profits for itself. Still, it's a strategy fraught with risk and one Hasbro hasn't shown itself particularly adept at outside of the Transformers franchise, but since th...