UK Construction Growth At 5-Month High


Private sector activity in Kenya rose in November from a record low hit in the previous month, pointing to a potential recovery as political risks ease, survey data showed on Tuesday.

Chris Williamson, an economist with IHS Markit, said the big news in the services survey was the jump in prices charged by companies.

"Given the strength of order book growth and hiring, as well as the elevated level of business optimism, the euro zone should start the New Year on a solid footing", he added. But, the rate of decline was modest.

World's largest Starbucks store to open in China
Starbucks' same-store sales in China rose 8 per cent during the most recent quarter, beating its global 2 per cent growth. Starbucks is opening one store in China every 15 hours, the company's China CEO Belinda Wong told "Squawk Box".

The warning comes as business activity in November grew at a slower pace than in October, amid a slight slowdown in new work available to services firms.

The IHS Markit/Chartered Institute of Procurement & Supply Purchasing Managers Index, dropped to 53.8 in November from 55.6 in October. However, any reading above 50 indicates expansion in the sector. Furthermore, the rate of expansion accelerated to the fastest since October 2016.

On the price front, cost pressures faced by services firms intensified in November. Moreover, higher taxation led to an increase in overall input prices.

Apple ready to start paying €13bn bill
Ireland's low tax deals to large companies has been a key role in the country's economic success. However, Dublin as well as Apple continue to contest the European Commission's ruling.

Bolstered by the improvement in the service sector, the Caixin China Composite Output Index, which covers manufacturing and service companies, rebounded to 51.6 from October's 16-month low of 51. "Good weather conditions have improved growth prospects for the agriculture sector and reduced inflation expectations".

"Business under performance emanated from July's Goods and Services Tax (GST) which contributed to sluggish demand and lower customer turnout, according to anecdotal evidence", said Aashna Dodhia Economist at IHS Markit and author of the report.

"The ray of sunshine in the latest PMI dataset was the resilience of the labour market as firms continued to raise their workforce numbers for the third consecutive month, resonating with stronger business sentiment across the service sector".

Spanish judge withdraws arrest warrant for Catalan leaders
The remaining ex ministers and former regional president Carles Puigdemont are in Belgium, fighting extradition to Spain. They include former regional Vice President Oriol Junqueras , who heads the slate of the left-republican ERC party.

Threadneedle Street raised interest rates for the first time in a decade in November, up from 0.25% to 0.5%, as the Bank's governor Mark Carney said the vote to leave the European Union had constrained the speed at which the United Kingdom could grow before prices begin to spiral.