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The Guardian·48m ago4 outlets

Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live

Rolling coverage of the latest economic and financial news Mothercare has warned it faces a “highly uncertain” future after its Middle East franchise partner revealed it was set to close most of its franchised stores across the region next year. The troubled baby products group said it was a “heavy blow” for the firm and has now launched an urgent strategic review, adding that it has sufficient resources to trade for “a number of months” “Whilst our recent financial performance has been resilient, this is a heavy blow to the Mothercare business and our stakeholders. We will continue to pursue discussions to restore critical mass and value for stakeholders, against this more difficult backdrop.” “That depends on how ​price conditions develop. There could be ‌various possibilities. We shouldn’t ‌rule anything out.“ “We’re at a phase where we need to look at various data carefully. ‌But tha

BBC Business·1h ago

Japan raises interest rate to new 31-year high to curb rising prices

Central banks around the world have hiked rates as high energy prices are pushing up inflation.

The Guardian·1h ago

Todd Boehly exits Chelsea diminished after having his fingers burned

The billionaire’s departure will change little day-to-day but could be significant for club’s stadium plans Not since a doomed foray into the thorny world of the transfer market has Todd Boehly had any real influence over the day-to-day at Chelsea. The American exits football as a diminished figure four years on, along with his fellow investor Mark Walter, and the first thing to say is that little will change in the Stamford Bridge boardroom just because Boehly has left the scene. Clearlake Capital, the US private equity firm founded by Behdad Eghbali and José E Feliciano, was already the majority owner and guiding force. The trio of Boehly, Walter and the Swiss billionaire Hansjörg Wyss had an equal share of a 38.5% stake but have drifted into irrelevance since the BlueCo consortium bought Chelsea from Roman Abramovich for £2.5bn in 2022. Continue reading...

The Guardian·2h ago

Global leaders urged to join initiative to fight extreme inequality

More than 1,500 academics and economists sign letter, calling growing gap between richest and poorest ‘a policy choice that can be reversed’ More than 1,500 academics and economists from 100-plus countries are urging global leaders to join an initiative against extreme inequality, calling current unfairness “a policy choice that can be reversed”. Before the UN general assembly in New York next week, the experts have signed an open letter backing the International Panel on Inequality (IPI). Continue reading...

CNBC·4h ago

Pokémon card curbs send shares of Japanese online marketplace Mercari on a bumpy ride

Mercari shares are clawing back losses after Pokémon card listing restrictions triggered a selloff earlier this week.

CNBC·5h ago2 outlets

Bank of Japan raises interest rates to 31-year high, flags concerns over inflation

Bank of Japan raises benchmark interest rate from 1 to 1.25 percent, pledging to help counter inflation risks.