The 10 things to watch in business on Tuesday September 8

China's exports tumbled in the year to August; Eurozone GDP is to be announced this morning; Uber has raised £780 million in China

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The Independent Online

1. China's exports tumbled in the year to August. China's exports fell 6.1 per cent year-on-year to 1.20 trillion yuan (around £122.73 billion) in August, Customs said on Tuesday, the latest figures showing weakness in the world's second-largest economy. The trade gap widened sharply with imports down 14.3 per cent.

2. Eurozone GDP is to be announced this morning. It's another estimate of Q2 eurozone GDP, and analysts expect to see the same results as the previous estimate, with growth of 1.2 per cent year-on-year and 0.3 per cent growth compared to Q1.

3. The European Union will give €500 million (£353 million, $557 million) to help farmers hit by falling food prices, after thousands of farmers in Brussels blocked streets with their tractors on Monday to demand emergency funds.

4. Britain's Whitbread, the owner of Premier Inn hotels and Costa Coffee, said it expected to cut spending and increase some prices to counter the "substantial" cost of the higher national living wage, as it posted slowing second quarter sales. The company said group like-for-like sales grew by 3.3 per cent in the 11 weeks to August, slowing from growth of 4.3 per cent in its first quarter, though Whitbread said it remained on track to meet its full-year expectations.

5. Gaming giants Paddy Power and Betfair agreed on the terms of their £5 billion merger to create the world’s biggest publicly listed online gaming company.

6. Australian energy giant Woodside Petroleum made an estimated AUS$11.6 billion (US $8.1 billion) bid for Oil Search on Tuesday. The move will allow Woodside to tap into the Papua New Guinea market in one of the Australian’s market largest takeover deals.

7. UK house builder Berkeley Group said the firm was on track to deliver £2 billion of earnings over the next three years.

8. RSA Insurance Group on Tuesday said it has signed contracts to sell its operations in Latin America to Suramericana, the insurance subsidiary of Colombia's Grupo de Inversiones Suramericana, for about £403 million in cash, the last of its larger businesses to be disposed of under a restructuring plan.

 

9. Uber has raised $1.2 billion (£780 million) in China — but it's biggest rival has raised more than twice as much. The homegrown ridesharing service Didi Kuaidi has netted $3 billion (£1.95 billion) in new funding.

10.The iPad Pro will reportedly come with at least 64GB of storage and cost around the same as a MacBook according to top technology site 9to5Mac's Mark Gurman.

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