DAILY BRIEFING: Eurozone economy stutters amid mounting concerns about Italy
![Eurozone output rose by just 0.2% ¿ just half the 0.4% rate of expansion in the second quarter](https://i.dailymail.co.uk/1s/2018/10/30/21/5592176-6335263-image-a-2_1540936082002.jpg)
Eurozone output rose by just 0.2% – just half the 0.4% rate of expansion in the second quarter
ITALY WOES The eurozone economy slowed sharply in the third quarter amid mounting concerns about the outlook in Italy.
Output rose by just 0.2 per cent – just half the 0.4 per cent rate of expansion in the second quarter.
The Italian economy stagnated as the government locked horns with Brussels over its budget plans.
NUCLEAR ISSUE Most major projects at the Sellafield nuclear site are still ‘significantly’ delayed, with expected over-runs of £913million, according to an official report.
The Public Accounts Committee said it remained sceptical about the Nuclear Decommissioning Authority’s (NDA) long-term strategy to decommission Sellafield until work was completed.
PROFITS SURGE Japan’s Sony is on course for record profits after a huge surge in sales of Playstation video game titles such as Marvel’s Spider-Man.
The company expects a full-year profit of more than £6billion, smashing previous predictions of £5.5billion.
Big gaming titles have helped to cushion slowing sales of the Playstation 4 console, now five years old.
SOLID GROWTH Coach and Kate Spade owner Tapestry reported solid sales growth for the first quarter yesterday, as the fashion company presses ahead with reducing its presence in department stores.
Net sales rose 7 per cent to $1.38billion, supported by a 21 per cent jump in sales of the Kate Spade brand. Leather goods brand Coach also grew, with sales up 4 per cent.
LEGAL CASE Virgin Money’s owner CYBG is facing a beefed-up legal case from a group of more than 500 customers claiming hundreds of millions of pounds in compensation over tailored business loans.
EDGING UP Sales at the John Lewis Partnership edged up by just 0.1 per cent in the week to October 27 as purchases at Waitrose fell 0.1 per cent during the period.
FASHION STAR Cornish clothing brand Seasalt posted a 23 per cent jump in sales to £51million in the year to January 27. Profits came in at £367,884. The retailer did not publish a profit figure a year earlier.
STOCK PLUNGE Shares in UK-focused oil and gas group Egdon Resources fell 5.16 per cent, or 0.4p, at 7.75p, yesterday after the company posted an annual loss of £1.98million, which it partly put down to write-downs and costs.
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