The 10 things to watch in business on Friday August 28

Chinese stocks are up again ; Facebook boast a new record ; Boeing won a major US defence contract

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1. Chinese stocks are up again. As of this morning the Shanghai Composite Index is up 1.78 per cent. Other Asian markets are on the rise too. Hong Kong’s Hang Seng is higher by 0.57 per cent, while Japan’s Nikkei  is going up 1.78 per cent.

2. Japanese inflation and household spending slumped in July. Japanese inflation fell back to zero in July while household spending dropped again, official data showed today, with the disappointing data sure to stoke speculation that the central bank will unleash more stimulus.

3. Crude oil futures rose today, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies. US crude is on track for its first weekly gain in 11 weeks, ending the longest losing streak since 1986. Brent crude is set for its first weekly gain in two weeks.

4. Eurozone confidence figures are coming at 10 am UK time. A number over 100 indicates, would indicate net optimism. Analysts expect August’s reading to fall from 104 to 103.9.

5. Gamblers united: rival bidders and target – 888, GVC and – all have half year results as they tussle for victory in £1b billion bid battle.

- Bwin hit by UK tax changes with flat earnings and revenues down.

- GVC revenues are up 19 per cent

- ebitda are up 14 per cent .

- 888 revenues are down 2 per cent and its profit is down 10 per cent.

6. French luxury group Hermes reported a profit rise of 16.0 per cent for the first half of the year. Despite China it is still expecting 8 per cent sales growth this year.

7. Australian supermarket giant Woolworths today posted a 12.5 per cent slide in full-year net profit and announced its chairman was stepping down, just months after the group's chief executive quit.

8. Facebook boast a new record, with more than a billion people using the social network on a single day this week. CEO Mark Zuckerberg marked the occasion with a post on his Facebook page, saying that one out of seven people on Earth logged in to the social network to connect with their friends and family.




9. Growing demand for more information about the products we buy could mean the end of the simple barcode - the blocks of black and white stripes that adorn most objects for sale and are scanned five billion times a day.

10. Boeing has won a $1.49 billion contract to build 13 additional P-8A maritime surveillance aircraft, and provide parts for 20 other aircraft of the same type. The contract covers production of nine P-8A aircraft to be built for the US Navy, and four aircraft for the Royal Australian Air Force, the Defense Department said in its daily digest of major weapons contracts.