Black Friday boost for UK as retail sales rise

LONDON • UK retail sales unexpectedly rose last month as Black Friday discounts led consumers to splurge on electronics and household goods.

The volume of goods sold in stores and online rose 0.2 per cent from October, the Office for National Statistics said yesterday.

The figures suggest consumer confidence remains buoyant in the wake of the Brexit vote but headwinds are building. Employment fell in the three months through October and inflation is accelerating.

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Shell names new finance chief

LONDON • Royal Dutch Shell said chief financial officer Simon Henry will leave the company after more than seven years in the role, and will be succeeded by Ms Jessica Uhl.

Mr Henry will remain on the board as CFO until March 9, Shell said in a statement yesterday, without giving a reason for the departure.

The 55-year-old, who has been with the oil giant for more than three decades, will assist with the job transition until the end of June.

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Green light for sale of Chicago bourse

CHICAGO • The Committee on Foreign Investment in the United States on Wednesday approved the proposed sale of Chicago Stock Exchange (CSE) to Chongqing Casin Enterprise Group and others, a CSE spokesman said.

Signed in February, the deal is still subject to approval by the US Securities and Exchange Commission.

The CSE is the second-smallest stock exchange in the US, handling less than 0.5 per cent of equity volume. Even so, the exchange would provide a foothold in the US$25 trillion (S$36 trillion) market for US equities, and could become a place for Chinese companies to list.

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