BP returns to profit as pandemic continues to stifle demand

BP returned to profit in the third quarter, but the global coronavirus crisis continued to hit demand for oil.   BP said underlying replacement cost profit, its definition of net income, was $86m from July to September. That was down from $2.2bn a year earlier, but a big improvement on its massive second-quarter loss of […]

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Britvic announces move to 100% rPET

Soft drink producer Britvic, has announced its intention for all its plastic bottles in the UK to be made from 100% recycled plastic (rPET) by the end of 2022.   The announcement comes three years earlier than the company planned, and this comes ahead of the original 50% recycled polymer target.   The move to […]

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IMF downgrades Asia’s growth forecast

The International Monetary Fund (IMF) has downgraded the growth forecast for the Asia Pacific region again, this time from -1.6% to -2.2% for this year.   It added, however, the glimmer of hope is for a bounce back of almost 7% next year.   China will play a big part in the region’s growth next […]

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China’s economy continues to bounce back

China’s economy continues its recovery from the Covid-19 pandemic according to its latest official figures.   The world’s second-biggest economy saw growth of 4.9% between July and September, compared to the same quarter last year.   However, the figure is lower than the 5.2% expected by economists.   China is now leading the charge for […]

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Chinese trade grows despite pandemic

China has recorded strong growth in trade, while other major economies still struggle with the impact of coronavirus.   Exports in September rose 9.9%, while imports grew 13.2%, official data show.   The increase in imports cut China’s trade surplus to $37bn from $59bn in August.   Most other large economies are expected to suffer […]

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IMF upgrades 2020 economic forecast

The International Monetary Fund is forecasting a somewhat less severe recession than it predicted in June.   The change in the outlook applies to both the global economy and the UK.   But the IMF says in its World Economic Outlook that the global economy is still in deep recession and the risk of a […]

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