UK firms cut staff; Greek debt auction success – business live

Rolling coverage of the latest economic and financial news, as China sets its lowest growth target in almost three decadesLatest: Greek debt auction underwayPre-Brexit euro liquidity auctions launchedUK company workforces fall at fastest pace since 2012China cuts 2019 growth target to 6-6.5% 2.02pm GMT Boom! Greece has successfully held its first sale of 10-year government bonds in a decade.Athens has raised €2.5bn through today’s auction, after receiving €11.8bn worth of offers from investors keen to take part.Over in Greece officials are saying that investor demand for the country’s new ten-year bond has exceeded all expectations – in what will be seen as a boost for the country’s economic prospects .“We never expected such massive participation in a paper with such a long maturity following our county’s exit from bailout oversight,” said one well-placed insider requesting anonymity. #Greece’s new March 2029 #bond issue size set at 2.5 billion euros, order books in excess of 11.8 billion euros @WSJmarkets 1.43pm GMT Auto makers are fielding question about Brexit at the Geneva Motor Show, which kicked off today.BMW has bad news for its Oxford workforce – if Britain leaves the EU without a deal, it could be forced to shift Mini production out of its Cowley car plant. BMW may stop making Mini at Cowley if there is no-deal Brexit https://t.co/roNZemztSACarlos Tavares, head of Vauxhall’s parent group PSA, tells ITV News there will be no further investment in Ellesmere Port – such as the introduction of electric cars – until the outcome of Brexit is decided https://t.co/FXNVPsfNj9 pic.twitter.com/UeJOXyM7KJ Continue reading…
Via: UK firms cut staff; Greek debt auction success – business live