With two consecutive quarters of contracting Gross Domestic Product, Japan is officially back in recession. GDP shrank 1.6% annualized.Unadjusted for price changes, the Japanese economy contracted an annualized 3 percent, the Cabinet Office said.None of this was "expected". We will explore "why" in a moment. First consider some headlines. Bloomberg: Japan Unexpectedly Enters Recession as Abe Weighs Tax.
After a string of worrying data releases, UK analysts had reason to cheer this week as official data showed that retail sales went through the roof. Retail sales rose by 1.9% from August to September, leaving them 6.5% higher than they were in the same month last year.
LONDON: The coming week will provide clues on whether the global economy is escaping from its lacklustre growth rut, amid growing concerns of another downturn which central banks have few tools left to fight. China has become the focal point for economists as they fear a hard landing there could send countries that have only just escaped from the doldrums reeling back into recession. Beijing will publish September trade data on Tuesday and inflation on Wednesday and any significant deviation from expectations could set the tone for the week.
An announcement came yesterday from American Postal Workers Union (APWU) in which it was mentioned that the union of 200,000 members has decided to challenge the merger between Staples, Inc. (NASDAQ:SPLS) and Office Depot Inc (NASDAQ:ODP).
The union which comprises of employees of United Postal Service will be taking assistance of a team consisting of financial advisors, lawyers, and economists for drafting the case against the merger.
Research from the national enterprise campaign shows 526,446 businesses were registered with Companies House, beating the 484,224 businesses recorded in 2012, and 440,600 in 2011.
Top performers on the regional entrepreneurial map according to post code include Greater London with 136,939 businesses registered beating the rest of the country by far – with its nearest rival Birmingham at 16,281 and Manchester at 11,765.