5) Ted Baker founder Ray Kelvin has appointed a representative to the company’s board of directors, 18 months after he stepped down as boss amid a ‘forced hugging’ scandal and allegations of inappropriate behavior towards staff. The retailer has appointed Colin La Fontaine Jackson as a director named on behalf of Mr. Kelvin, who still owns nearly 12% of the company.
What happened during the night
ASian’s actions were mixed on Wednesday after another U.S. rally boosted by positive economic data, even as the coronavirus pandemic has parts of the world struggling with recessions.
Benchmarks rose in Tokyo and Sydney but fell in Hong Kong and Shanghai.
Australia reported its worst GDP drop on record, contracting 7% in the April-June quarter. This resulted in the country’s first recession in 30 years.
However, regional market sentiment was boosted by better-than-expected data on the US economy.
Japan’s benchmark Nikkei 225 edged up 0.3% in morning trading to 23,204.94. Australia’s S & P / ASX 200 rose 1.5% to 6,043.20. South Korea’s Kospi was stable at 2,350.10. The Hong Kong Hang Seng slipped 0.5% to 25,059.92, while the Shanghai Composite fell 0.5% to 3,393.58.
Wall Street kicked off September with another round of milestones on Tuesday, as an afternoon rally took the S&P 500 and Nasdaq composite to all-time highs.
Intermediate results: Eddie Stobart
Full year: Barratt Developments
Economy: Bailey, Ramsden and Vlieghe from BoE on the Treasury Selection Committee (UK); ADP Job Change, Factory Orders (US)