JUST IN: #Germany cartel authority said on Thursday it was fining the country’s three major carmaker s – BMW, Volkswagen and Daimler – a total of 100 million euros ($110.84 million) for unlawful actions in rel ation to steel purchases @Reuters #AceFinanceDesk reports

JUST IN: Germany fines BMW, Daimler, Volkswagen for forming steel cartel https://t.co/h6sLx11eyy https://t.co/MtRPQAEK2X http://twitter.com/Reuters/status/1197543721434275841 November 21, 2019 at 03:54PM: #AceFinanceNews

Editor says #AceNewsDesk reports are provided by Sterling Publishing & Media News here: https://t.me/SterlingPublishingPanel and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts as a member on Telegram https://t.me/acebreakingnews

JUST IN: Xerox Corp (XRX.N) on Thursday threatened to go hostile with its $33.5 billion buyout offer for HP Inc, if the personal computer maker did not agree to a “friendly” discussion before Nov. 25. @ReutersBiz #AceFinanceDesk reports

JUST IN: Xerox threatened to go hostile with its $33.5 billion buyout bid for HP, if the personal computer maker did not agree to a ‘friendly’ discussion before Nov. 25. https://t.co/grSz4S2Oni $XRX $HPQ https://t.co/tcXrwO5wSL http://twitter.com/ReutersBiz/status/1197542585776181249 November 21, 2019 at 03:49PM: #AceFinanceNews

Editor says #AceNewsDesk reports are provided by Sterling Publishing & Media News here: https://t.me/SterlingPublishingPanel and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts as a member on Telegram https://t.me/acebreakingnews

JUST IN: #UK Royal Mail which is embroiled in a dispute with its largest union, on Thursday said its transformation plan to expand its parcels business internationally was behind schedule, even as it posted a first-half operating profit @Reuters #AceFinanceDesk reports

JUST IN: “The former British postal monopoly, which had announced a five-year turnaround drive in May, said it was investing more ahead of the general election and Christmas, which would impact productivity for the rest of the year

FILE PHOTO: A Royal Mail postal worker stands in the yard of a sorting office in Altrincham, Britain October 12, 2017. REUTERS/Phil Noble

Published: Nov.21: 209: https://t.co/SWKcUyBE4V #AceFinanceNews

Editor says #AceNewsDesk reports are provided by Sterling Publishing & Media News here: https://t.me/SterlingPublishingPanel and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts as a member on Telegram https://t.me/acebreakingnews

JUST IN: OECD Cuts Global Economic Growth Forecast in 2020 to 2.9% as Economies Slow and Employment Prospects are Reduced by Technological Advances that do NOT require Manual Labour #AceFinanceDesk reports

JUST IN: OECD trims global 2020 economic growth forecast to 2.9%

https://t.co/G0ucX82Jxa http://twitter.com/AFP/status/1197457746007855104 November 21, 2019 at 10:12AM: IFTTT, [Nov 21, 2019 at 10:14]

Editor says #AceNewsDesk reports are provided by Sterling Publishing & Media News here: https://t.me/SterlingPublishingPanel and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts as a member on Telegram https://t.me/acebreakingnews

JUST IN: PM Johnson says Conservatives will raise tax threshold to £12,500 and NO NI until £9,500 if the win #GE2019 #AceFinanceDesk reports

JUST IN: Prime Minister Boris Johnson says the Conservatives will raise the threshold for national insurance to £9,500 next year with the “ultimate ambition” to raise it to £12,500 if they win the general election @SkyNewsBreak November 20, 2019 at 02:25PM: #AceFinanceNews

Contracts: Knowing how to ask questions but not understanding the answers #AceFinanceDesk report

I was watching BBC Parliament recently and Labour MPs were presenting questions on finance to Mark Carney of the BOE from their constituents and the MP’s did not appear to have a clue about his answers. In some cases the questions bore very little meaning to the person being interviewed.

This is not the only example …MPs listening to Stephen Barclay (EU-Brexit Secretary) kept intervening and asking many questions that had no resemblance to the what he was saying about the deal and contract negotiated for #Brexit and its meaning …..but one after another they kept on asking just to try and derail him from his train of thought ….he did at one time say to one person …. madam l have been a treasurer and your question has no understanding of what l am alluding.

Maybe l have greater understanding of these contracts having taken time to learn but these MPs wasting taxpayers money on a day-to-day basis with claims of hundreds of pounds of expenses ….should take time to learn about the subject before asking questions of other MP’s who have had the training and requisite time spent learning ……HOW – a contract be it finance, trade or other is constructed and most importantly understood …….#AceFinanceNews

JUST IN: Norwegian Air appoints new CEO to lead restructuring @Reuters #AceFinanceDesk reports

“His extensive management experience from global companies, proven leadership skills, strong commercial consumer orientation and impressive track record of value creation will greatly benefit Norwegian as the company enters into a new phase,” board Chairman Niels Smedegaard said in a statement.
https://t.co/0KnsppWG3K https://t.co/Na4UQNu3XS http://twitter.com/ReutersBiz/status/1197107667879239682 November 20, 2019 at 11:01AM: #acefiinancenews

(U.K.) It all began in 1778 and now Debenhams has named 22 of the 50 stores it plans to close as part of a p lan by new owners to revive the department store chain: The retailer says the store closures will start next year and 1,200 staff will be affected by the first phase after lenders took control by providing £200- million In funding #AceFinanceDesk reports

#AceFinanceReport – Apr.28: Stores in Canterbury, Guildford, Wolverhampton and Kirkcaldy are among those earmarked for closure: Earlier this month lenders to Debenhams took control in a deal which wiped out the investments of shareholders BBC News reported.

Once the 50 store closures are complete Debenhams will have around 116 stores in the UK: Debenhams also reported results for the 26 weeks to March. Sales at its UK stores fell 7.4%, which it blamed on fewer shoppers heading to the High Street.

Debenhams stores to close in 2020

Source: Debenhams

Debenhams is the UK’s biggest department store chain and its origins can be traced back to 1778 and a drapers store in central London: However, industry experts said the retailer expanded the number of its stores at the wrong time – in the 2000s when customers were switching to online sales…..The expansion left the company with debts and expensive leases……………The firm’s financial situation deteriorated and last month Debenhams agreed a deal with its lenders, who provided £200m of fresh funding………Those lenders then took control of Debenhams earlier this month by buying it out of administration………..That deal wiped out the investments of shareholders, including the stake of Mike Ashley, the founder of Sports Direct…………Mr Ashley had wanted to buy Debenhams and become chief executive, but his approaches were turned down.

What does Debenhams say about its other stores?

The new owners have now announced their store closure programme under a process known as a Company Voluntary Arrangement (CVA), which also allows them to renegotiate rents at stores that remain open.

Of the department stores which remain open, 39 will stick to their current rental rates for the duration of their leases.

For the other stores the company is aiming to secure rental reductions of between 25% and 50%.

Terry Duddy, Debenhams executive chairman, said: “Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group’s store portfolio and its balance sheet, which are not appropriate for today’s much changed retail environment.

“Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future.”

Debenhams is just one of many High Street chains to run into trouble in recent years.

The collapse of BHS in 2016 resulted in more than 160 stores closing, and House of Fraser has been shutting stores after being bought out of administration last year.

Marks and Spencer is in the process of closing 100 stores by 2020.

Debenhams opening in WolverhamptonCrowds gathered in October 2017 when Debenhams opened in Wolverhampton’s Mander Centre

Which places have been hit hardest by the cuts?

In October 2017, locals in Wolverhampton queued up for Debenhams’ grand opening in their city’s refurbished Mander shopping centre.

Today, less than 18 months later, it was on the list of stores to shut by 2020.

Debenhams became a replacement anchor tenant for the Mander Centre following BHS’ demise. Now it will shut up shop too.

Debenhams’ arrival at the refurbished shopping centre came a decade after it set its sights on the West Midlands city.

An attempt in 2006 to set up in a £300m mall was eventually sunk by the global financial crisis.

For Wolverhampton it is another blow for a city centre that has been at the mercy of changes in retail all over the country, with the loss of the likes of BHS and Woolworths.

Will Debenhams’ landlords fight back?

Rob Young, business reporter

The plan to shut 22 stores and reduce the rent bill on dozens more is likely to prove contentious.

Many of those stores could see reductions of 50% – that will be extremely painful for landlords.

They are being asked to back the move. But we can expect many of them to come out fighting. After a series of these restructurings on the high street, commercial landlords have had enough.

The use of so-called company voluntary arrangements is increasingly controversial.

Landlords argue other creditors do not take their fair share of the pain. Three-quarters of the retailer’s creditors will have to approve the plan.

People close to the process say it’s by no means a done deal.

#AceFinanceDesk report …………..Published: April.28: 2019:

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(WASHINGTON) JUST IN: US Economy Grows by 3.2% in the first quarter and posted best growth in four years according Bureau of Economic Analysis said in its initial read of the economy Trump advisor Kevin Hassett says GDP growth ‘absolutely’ sustainable this year, could go higher #AceFinanceDesk reports

#AceFinanceReport – Apr.26: The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in four years: Q1/ GDP expanded by 3.2% in the first quarter, the Bureau of Economic Analysis said in its initial read of the economy for that period: Economists polled by Dow Jones expected the U.S. economy increased by 2.5% in the first quarter. It was the first time since 2015 that first-quarter GDP topped 3%.

image1.jpeg

“The upside beat was helped by net trade (exports jumped while imports contracted sharply) and inventories which combined contributed almost 170 bps of the rise,” wrote Peter Boockvar, chief investment officer at Bleakley Advisory Group. “Personal spending though, the biggest component was up just 1.2%, two tenths more than expected as an increase in spending on services and nondurable goods offset a decline in spending on durable goods.”

Exports rose 3.7% in the first quarter, while imports decreased by 3.7%. Economic growth also got a lift from strong investments in intellectual property products. Those investments expanded by 8.6%………………..Disposable personal income increased by 3%, while prices increased by 1.3% when excluding food and energy. Overall prices climbed by 0.8% in the first quarter.

Friday’s data was the first look at how the economy fared during the longest government shutdown in history: The federal government ceased operations for 35 days between late December and Jan. 25 amid a standoff between the Trump administration and congressional leaders over funding for a wall along the U.S.-Mexico border.

Investors were closely watching out for the report as they looked for more confirmation that a recession may not be in the cards over the short term:

The report “helps offset fears of slowing global growth,” said Alec Young, managing director of global market research at FTSE Russell: “At a time of lingering U.S.-Chinese trade uncertainty and weak economic data everywhere from Germany to Korea to Japan, strong U.S. data acts as an insurance policy against further global economic weakness. And with inflation still subdued, it’s too early to start worrying about Fed rate hikes again.”

Trump advisor Kevin Hassett says 3.2% GDP growth ‘absolutely’ sustainable this year, could go higher: “This is really blockbuster news and suggests that the risks on the upside are very high for GDP this year,” says Kevin Hassett, chairman of the Council of Economic Advisers.

#AceFinanceDesk report ………..Published: April.26: 2019:

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring

(TEHRAN, Iran.) JUST IN: Stockmarket reaches an all time high on Sunday as TEDPIX crossed the 195,000 points according to Financial Tribune reported #AceFinanceDesk reports

#AFNews – Apr.14: Tehran Stock Market Scales New Highs: Stocks hit all-time closing highs on Sunday encouraged by the previous day’s landmark point when the benchmark index TEDPIX crossed the 195,000 points after more than six months: TEDPIX rose 0.45% helping the market end the second day of the week on a high note.

The Tehran market opened Sunday trading when many investors were expecting a correction as a selloff by shareholders: This mindset caused the market to shed more than 1,200 points in early trading but fundamental factors supporting the market helped reverse the bearish trend later in the day.

#AceFinanceDesk report ……………financialtribune.com/node/97449 https://t.me/fintribune/4857

Editor says #AceNewsDesk reports & #Brittius says are provided by Sterling Publishing & Media News and all our posts, links can be found at here Live Feeds https://acenewsroom.wordpress.com/ Ace News Services Posts https://t.me/AceSocialNews_Bot and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com or you can follow our breaking news posts on AceBreakingNews.WordPress.Com or become a member on Telegram https://t.me/acebreakingnews all private chat messaging on here https://t.me/sharingandcaring