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Time for the business news, and when the markets in Europe closed a couple of hours ago, London's FTSE was up 28 points, the DAX up 61 points, and the Euro Stoxx up 13. In the US, trading closed higher. The Dow was up 24, S&P 500 also finishing the week positively1, as did the NASDAQ.
And in currencies, the Aussie dollar is worth 104 US cents this morning. It also buy you 64 British pence.
MacQuarie Group says a lack of investor2 confidence has led to a 24% slide in its annual profit. The firm made $730 million in profit for the 12 months to the end of March. It says falls in customer revenue as a result of volatile3 markets was broadly to blame for the result. To cut cost, the bank slashed4 around 1,300 jobs during the period with the largest cuts in its securities division.
Well, as figures on the US economy show that economic growth has slowed, the US Commerce Department says businesses have cut back on investment, depressing GDP. Growth is down to 2.2 per cent from 3 per cent in the final three months of last year. And economists5 say the figure is below estimates of 2.5 per cent. On a positive note, consumer spending is up by 2.9 per cent, the fastest since 2010.
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1 positively | |
adv.明确地,断然,坚决地;实在,确实 | |
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2 investor | |
n.投资者,投资人 | |
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3 volatile | |
adj.反复无常的,挥发性的,稍纵即逝的,脾气火爆的;n.挥发性物质 | |
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4 slashed | |
v.挥砍( slash的过去式和过去分词 );鞭打;割破;削减 | |
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5 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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