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Tag: slows

Bank credit growth slows to 10.24%, deposits at 9.73%

Bank credit growth slows to 10.24%, deposits at 9.73%

Finance
MUMBAI: Bank credit and deposits growth slowed to 10.24 percent and 9.73 percent to Rs 96.80 lakh crore and Rs 127.80 lakh crore, respectively, in the fortnight to August 30, show the latest RBI data. In the year-ago fortnight, advances were at Rs 87.80 lakh crore while deposits stood at Rs 116.46 lakh crore. In the previous fortnight to August 16, advances grew 11.64 percent to Rs 96.82 lakh crore and deposits by 10.15 percent to Rs 126.80 lakh crore. In July, the non-food bank credit rose 11.4 percent on year-on-year basis from 10.6 percent in July 2018. Advances to the services sector decelerated to 15.2 percent in the month from 23 percent in the year-ago month. Credit to agriculture & allied activities rose 6.8 percent compared with an increase of 6.6 percent in the same month las...
Netflix shares sink 10% as subscriber take-up slows

Netflix shares sink 10% as subscriber take-up slows

Business
Netflix added fewer paid subscribers than expected in the last three months, with the streaming service blaming price rises. Shares in the company sank 10% after Netflix added 2.7 million new customers worldwide in the April-June period, well below expectations."Our missed forecast was across all regions, but slightly more so in regions with price increases," it said.It comes as competition increases from rivals such as Walt Disney and Apple.The company, behind such hits at The Crown and Orange is the New Black, said in its statement: "We don't believe competition was a factor since there wasn't a material change in the competitive landscape during [the second quarter] and competitive intensity and our penetration is varied acros...
Wage growth nears 11-year high but hiring slows

Wage growth nears 11-year high but hiring slows

Business
By James Sillars, business reporter Average wage growth has accelerated to levels not seen since July 2008, according to official figures. The Office for National Statistics (ONS) said earnings, excluding the effects of bonuses, rose by 3.6% on an annual basis in the three months to May - beating the forecasts of economists. When bonuses were included, the percentage figure rose to 3.4% from 3.2% a month earlier.The data suggests a boost to household spending power as the rate of inflation, due to be updated on Wednesday, currently stands at 2%. Image: Consumer spending has been constrained despite wage growth outpacing inflation But the latest employment figures also betrayed a possible early sig...
UK growth slows to 0.2% in fourth quarter of 2018

UK growth slows to 0.2% in fourth quarter of 2018

Business
By James Sillars, business reporter UK economic growth eased to 0.2% in the final quarter of 2018 as the clock ticked down to Brexit, official figures show.The preliminary figure from the Office for National Statistics (ONS) represented a significant slowdown on the 0.6% achieved between July and September but was in line with economists' forecasts. It meant that, subject to revisions, the economy grew by 1.4% over the 12 months - its weakest performance since 2014.The pound fell below $ 1.29 following the data release - a fall of almost half a cent - as investors digested the damage from Brexit uncertainty and the wider headwinds in the global economy linked to the US trade war with China. Image: The high street endured a t...
International worries as China's consumption and economy slows

International worries as China's consumption and economy slows

Business
Picture China's economy and you might be thinking of massive factories, gigantic airports or train stations built from scratch in 24 hours. For another view, you could follow Xu Liqiang as he threads the streets of Beijing in a beaten-up tuk-tuk (motorised rickshaw).Xu is 21 years old and a "kuaidi" (express delivery) driver. Each day 100 million packages are delivered in China and they're delivered by people like him. It's part of a boom in Chinese consumption that has driven growth in global GDP over the last decade.But today, work is slow. "After Double Eleven [an online shopping festival], the packages have been getting less and less with time," he tells me.Xu lives in a dormitory provided by his employer with three other kuaidi drivers. He moved to Beijing from Shanxi ...