Money Briefs: Mixed start to Q3 in UK economy

Mixed start to Q3 in UK economy

LONDON • Britain's economy made a mixed start to the third quarter, output figures published yesterday suggested.

Manufacturing rose 0.5 per cent in July, while total industrial production rose 0.2 per cent, held back by a 1.4 per cent drop in oil and gas production. The deficit in goods and services was little changed at £2.9 billion (S$5.1 billion) as both exports and imports fell 0.2 per cent.

The figures may do little to dispel the picture of an economy stuck in the slow lane as Brexit uncertainty and the squeeze from rising prices take their toll. Growth in the first half was the weakest since 2012.

BLOOMBERG


SpiceJet looks set for long-haul flights

NEW DELHI • Indian budget airline SpiceJet has begun an order contest between Boeing and Airbus for wide-body aircraft, in the strongest indication yet that it will go ahead with a move into discount long-distance flights.

The stock rose to its highest ever.

The carrier is evaluating Boeing's biggest 787-10 Dreamliner together with Airbus' A350-1000, its chairman Ajay Singh said.

SpiceJet is considering the introduction of flights to more distant markets, including Europe.

Carriers in India, including market leader IndiGo, are set to order more than 1,000 planes as they look to tap an emerging middle class with enough disposable income to fly for the first time.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on September 09, 2017, with the headline 'Money Briefs'. Print Edition | Subscribe