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Tag: growth

IHG quarterly room revenue growth accelerates on China demand

IHG quarterly room revenue growth accelerates on China demand

Finance
InterContinental Hotels Group Plc's (IHG) second-quarter room revenue growth accelerated, helped by higher demand in China, it said on Tuesday. Revenue per available room (RevPAR) rose 3.7 percent in the three months to June 30, higher than the 3.5 percent growth in first quarter and 1.5 percent a year earlier. "We've had a really strong start to the year," IHG Chief Executive Keith Barr told CNBC's "Squawk Box Europe" on Tuesday. "The number of hotel rooms we've opened up around the world is up 4.1 percent," he said, adding that underlying profit was up 8 percent and earnings per share was up 25 percent, enabling the company ...
Facebook shares slump as user growth slows

Facebook shares slump as user growth slows

Technology
Facebook shares slumped 7% in after-hours trading, as the social media giant revealed that its user base and second-quarter revenue grew slower than expected. The shares, which have risen as much as 23% this year, fell to $ 201.40 in trading after the bell.It was the company's first full quarter following the Cambridge Analytica privacy scandal.The firm said it had 2.23 billion monthly active users at the end of June, up 11% on June 2017, the slowest growth in more than two years.Analysts attributed the user growth shortfall largely to European privacy rules that went into effect in May.The Cambridge Analytica scandal prompted several apologies from chief executive Mark Zuckerberg and generated calls for users to desert Facebook, which has grown strongly since launching as...
Wage growth at weakest level since January

Wage growth at weakest level since January

Business
There has been a further slowdown in the rate of pay growth, as the Bank of England mulls the timing of an interest rate rise. The Office for National Statistics (ONS) reported that average weekly wages, excluding bonuses, rose by 2.7% in the three months to May.That was down from 2.8% the previous month and its peak of 2.9% between January and March.According to the ONS, the 2.7% figure marked the slowest rate of wage growth since it reported salary progress in JanuaryHowever, it did report another new record for employment - with the proportion of people in work hitting 75.7% after 137,000 jobs were created over the three months. Image: Employment has remained ahead of most forecasts The performance failed to aid the jobless rate, wh...
Netflix shares plunge as subscriber growth stalls

Netflix shares plunge as subscriber growth stalls

Business
Netflix shares plunged by more than 14% in after-hours trade on Monday, after the firm reported disappointing subscriber growth.Netflix said it added 5.2 million subscribers in the three months to the end of June, the same number it did during the period last year.The streaming service had forecast growth of 6.2 million.The decline in share price follows a successful run for the stock, which had roughly doubled so far this year.The firm's shares ended Monday's trading session at $ 395.80, but tumbled by 14% after the market closed, as investors digested the firm's quarterly results.Investors are worried about Netflix's growth potential in the face of increased competition from tech giants such as Apple, YouTube and Amazon, as wel...
The rich world needs higher real wage growth

The rich world needs higher real wage growth

Finance
CENTRAL bankers and economists have spilled much ink in recent years on the question of why wages have not grown more. The average unemployment rate in advanced economies is 5.3%, lower than before the financial crisis. Yet even in America, the hottest rich-world economy, pay is growing by less than 3% annually. This month the European Central Bank devoted much of its annual shindig in Sintra, Portugal to discussing the wage puzzle.Recent data show, however, that the problem rich countries face is not that nominal wage growth has failed to respond to economic conditions. It is that inflation is eating up pay increases and that real—that is, inflation-adjusted—wages are therefore stagnant. Real wages in America and the euro zone, for example, are growing more slowly even as the ...