July Small Business Optimism Second-Highest in 45 Years

The National Federation of Independent Business (NFIB) Tuesday morning reported that its small business optimism index for July rose by 0.7 percentage points from 107.2 in June to come in at 107.9. This is the second-highest reading in the 45-year history of the index and the highest in 35 years. The consensus estimate from economists had called for the index to decrease by 0.2 percentage points to 107.

The four “hard” measures of the index posted mixed results last month. The job creation component rose three points month over month in July to 23%, the job openings component increased by a point to 37%, capital spending plans rose a point to 30% and plans to increase inventory investment fell two points to 4%.

The highest index reading ever was posted in 1983 at 108. For 2017 the average monthly index was 104.8, the highest average ever. The previous annual record was 104.6 set in 2004.

Some 32% of small business owners reported raising employees’ pay in the past three months. That’s up one point on a seasonally adjusted basis from the June total, and three points below the record May reading. Since January of 2017, net compensation changes have increased by eight percentage points. Some 22% of small business owners are planning to raise wages in the next three months, up a point month over month.

NFIB President and CEO Juanita Duggan commented:

Small business owners are leading this economy and expressing optimism rivaling the highest levels in history. Expansion continues to be a priority for small businesses who show no signs of slowing as they anticipate more sales and better business conditions.

Bill Dunkelberg, NFIB’s chief economist, added:

Small business owners have never been so optimistic for so long, helping to power the second longest expansion in history. Despite challenges in finding qualified workers to fill a record number of job openings, they’re taking advantage of this economy and pursuing growth.

Some 37% of business owners reported job openings they couldn’t fill. Job openings were most abundant in the construction industry (57%), followed by manufacturing (46%) and wholesale trade (45%). Nearly a quarter (23%) of business owners said finding qualified workers is their single most important business problem, just one point below a record 24% who reported the same difficulty in May.

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Home Depot second-quarter sales bounce back, results top estimates

(Reuters) – Home Depot Inc’s (HD.N) profit and revenue topped estimates on Tuesday despite signs of a slowdown in the housing market, boosted by a rebound in demand for seasonal products and as shoppers spent more to remodel their homes.

The No. 1 U.S. home improvement chain also raised its earnings and revenue forecasts for the year.

Consumers are investing in their homes, even as higher mortgage rates and rising real estate prices have hurt home sales this summer. Sales of new U.S. single-family homes fell to an eight-month low in June and data for the prior month was revised sharply lower, the latest indication the housing market was slowing down.

“The (company’s) sales strength is likely to garner the most attention as we sense there had been some fear recently that the overall macro picture had been slowing down,” Stifel analyst John Baugh said in a note.

Home Depot Chief Executive Officer Craig Menear sought to allay those concerns, saying the U.S. economy and the factors that drive home-improvement spending remained strong. “We feel very positive about the strength of the home improvement sector and the customers’ willingness to spend.”

Homeowners are spending more as prices appreciate and they view their homes as an investment and not an expense, Menear said. Home equity values have increased over 120 percent since 2011 in the United States, about $73,000 per owner in terms of equity, he said. He did not cite the source of the data.

Second-quarter sales rebounded from the first quarter when cooler-than-usual weather in some parts of the United States hurt demand for spring season products.

Slideshow (2 Images)

Menear said a majority of seasonal sales that were lost in the first quarter were recovered in the second. Lumber, indoor and outdoor garden products, lawn-mowers, patio furniture, ceiling fans, interior and exterior paint all posted strong growth.

The retailer said it is witnessing inflationary pressures in the form of rising raw material and transportation costs. The tariffs on Canadian lumber and washing machines imported from China recently imposed by the Trump administration have been manageable, it said, increasing by the low single-digit percentages the cost of goods sold.

Home Depot raised its full-year earnings forecast to $9.42 per share from $9.31. It also expects comparable sales growth of about 5.3 percent, up from a previous forecast of 5 percent, and total sales growth of about 7 percent, from 6.7 percent earlier.

Customer transactions rose 3.1 percent in the second quarter ended July 29.

Sales at stores open for more than a year climbed 8 percent, beating the average analyst estimate of a rise of 6.65 percent, according to Thomson Reuters I/B/E/S. Online sales grew approximately 26 percent from the second quarter of 2017.

Net earnings increased to $3.5 billion, or $3.05 per share, in the quarter, from $2.7 billion, or $2.25, a year earlier. Analysts expected $2.84 per share.

Net sales rose 8.4 percent to $30.5 billion, beating expectations of $30.03 billion.

Home Depot shares, which have risen 25 percent in the past 12 months, added 0.4 percent to $194.94.

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How to prepare for university life without spending all your cash

This year’s A-Level results are in which means thousands of teens will face the reality of moving out for the first time ever.

If you end up getting the results you want and accepted your offer it’s probably time to start packing – as Fresher’s week will be just around the corner.

And, it’s a tough world out there. Think laundry, washing up and cooking your own meals, but, don’t panic, we’ve got a handy guide to make you’re well prepared for your first term away.

Scroll down for tips, checklists and deals on everything campus-related, including student bank accounts and what you’ll need to invest in quick.

If you’re disappointed by your results, don’t worry. Thanks to the university clearing system you can still secure a place elsewhere – see our definitive guide to clearing for all the advice you’ll need to find a place.

Read More

A-Level Results

  • A-Level results day 2017
  • What to do if you fail A-Levels
  • How does UCAS Clearing work?
  • Essentials to pack for uni

What’s in our guide?

1. What essentials to take – and where to get them from.

2. Where to buy cheap tech – or read our cheap laptops guide.

3. Student discount – or read the top 10 places to score BIG student discount savings.

4. Student finances explained – or click to read our definitive guide to student finance.

5. House hunting – or read our guide on university house hunting.

Read More

A-Level Results

  • A-Level results day 2017
  • What to do if you fail A-Levels
  • How does UCAS Clearing work?
  • Essentials to pack for uni

1. The essentials: what you need

Not sure what ‘essentials’ you’ll need?

Check in with your halls guide to find out what the university will be accommodating you with and what you’ll be expected to bring.

Most dorm rooms will come kitted out with a duvet, bedroom bin and very basic kitchen essentials, but if you’re heading to a student house, you may need to start from scratch.

Retailers to watch for some of the best bargains:

For homewares…

  • Wilko.com for cheap duvet sets and bedroom decor.

  • Ikea for affordable duvet covers and pots, pans and cutlery.

  • George at Asda for soft furnishings, bedding and cheap kitchenware.

For tech and electrical goods…

  • Currys PC World for laptops, tablets and tech accessories.

  • Argos for cheap kitchen and bedroom electricals.

  • Tesco Direct for cheap household electrical appliances, laptops and tablets.

For groceries and household items…

  • Poundland for kitchen and bathroom cleaning products.

  • ASDA for food staples and your weekly supermarket shop.

  • Lidl and Aldi low cost grocery staples.

For everything…

  • eBay for cheap clothes, towels and everything in between.

  • Amazon for tech and and bulk-buying items household and toiletries like shampoo and toilet roll.

Read More

Student essentials 2017

  • Cheap travel for students
  • What you need and where to buy for less
  • Cheap laptops
  • Cheap books

2. Where to buy cheap tech – from laptops to smartphones

It’s peak back to school season which means good news for new students as many retailers like Currys PC World and Argos launch big sales on everything from stationery to laptops.

If you’re shopping for a new laptop notebook ALWAYS ask for student discount, or at least haggle for a freebie or extra add-ons – whether it’s a complimentary USB stick or a laptop bag, trust us, there’s always something up for grabs.

Laptop deals

To help you find a good deal, we’ve rounded up best cheap laptop deals for under £300, many of which include free Microsoft Office software helping to bring down your overall costs.

If you after something fancy, we’ve found some seriously good deals on refurbished laptops, including the Apple MacBook Pro for £379.

Read More

Laptop and tablet deals

  • Best laptop deals
  • Best Refurbished laptops
  • Best cheap tablets
  • Cheap Apple iPads

Tablets deals

You don’t have to splash the cash to find a good tablet, there are plenty of decent ones out there for under £50, but if you’re on a budget research is key.

We rounded up 10 of the best value tablets and it includes the famous Amazon Fire 7 tablet for just £49.99 from Argos. Or if you’ve got your heart set on a shiny new iPad, find out how you can save on your investment with our iPad Mini deals guide.

Read More

Apple deals

  • MacBook Pro
  • iPad Mini
  • MacBook Air
  • iPads


Don’t fancy shelling out your entire first instalment of your student loan on a new iPhone? Well you don’t have to as the latest wave of smartphones offer everything you’ll find on market leaders Apple and Samsung but for a fraction of the cost.

Check out our full round up of the best budget smartphones for 2017 if you don’t believe us.

Alternatively, if you’re planning to keep your handset it may be time to swap your price plan for a better deal.

With the single biggest factor affecting the cost of phone contracts being paying off the handset itself, it’s no surprise that SIM free plans are considerably cheaper.

If you shop around you can score deals like 1.5GB of data for a fiver a month, in our SIM only deals guide we’ve done all the hard work for you and rounded up the best offers available right now.

Best budget smartphones 2017 – how to get iPhone-level specs for a quarter of the price

3. You can FINALLY get student discount

It’s no secret that university is expensive – but there’s at least one upside…. Student discounts. Here are some of the best student discount deals going – including up to 30% off.

Your university will provide you with a student card on your first day of term, or when you register on campus. Flash that card whenever you can – wear it as a badge if you must.

Read More

Your complete uni guide

  • Student loans
  • Student essentials checklist
  • Student travel tips
  • Student discount
  • Student finance explained
  • Fresher’s week
  • Amazon Student explained
  • Guide to clearing

4. Student finances explained

If you’re heading to university, or know someone who is, avoid getting ripped off or running out of money by reading our guide to student finances.

With banks falling over themselves to get students to bank with them for decades – offering everything from free mobile phones to railcards and just straight out cash to get students to sign up finding out which one is best for your needs can be a minefield.

Luckily, the guide covers everything from working out what student bank account to set up to daily budgeting to make your loan stretch further.

    Read More

    Your guide to student money

    • Student finances explained
    • Student loans: The facts
    • Do students pay tax?
    • Best student bank accounts 2017
    • £3,304 – the cost of 100 days at uni
    • How to get a free degree
    • Best degrees for money
    • Student bank accounts for apprentices

    5. House hunting: the facts about student accommodation

    A lot of student estate agents are out to make a quick buck from witless students. Call round a few estate agents, and look at a lot of different places – never just settle for the first property on offer.

    Here’s what you need to know about university house hunting – and what to look out for in a roomie.

    Your ultimate university checklist – what you need

    Use our checklist below to tick everything off as you go along.

    For your bedroom:

    • 1x Duvet, 2x Pillows

    • Bottom sheets x 2, Pillow cases x 4

    • Duvet/quilt covers x 2 sets

    • Mattress protector

    • Bath towels and hand towels x 2

    • Small drying rack

    • Laundry bag

    • Hot-water bottle

    • Desk lamp (if halls don’t provide one)

    For your wardrobe:

    • Casual clothing – jeans, shorts, t-shirts, blouses/shirts

    • Underwear and socks (plenty of these)

    • Comfortable waterproof shoes

    • Trainers (even if you aren’t sporty these are useful)

    • ‘Going out’ clothes for pubs/clubs/parties

    • Hat/scarf/gloves

    • Winter coat

    • Pyjamas/nightshirt/dressing gown and slippers

    • Comfy joggers


        • Everyday moisturiser

        • Face wash

        • Big bottle of shampoo (it’ll last you longer)

        • Lip balm

        • Shower gel – stock up on these

        • Shaving cream, razors etc

        • Toothbrush / toothpaste

        • Painkillers – get value paracetamol or ibuprofen

        • Cold/flu remedy

        • Plasters

        • Nail scissors

        The obvious items you may forget:

        • Confirmation letters of your scholarship or bursary if appropriate

        • Any information from your LEA, the SLC (Student Loans Company) or Student Finance Direct

        • Your offer from the university

        • Any documents regarding your accommodation

        • Bank debit card

        • Paying-in book

        • Bank or building society details

        • 16-25 Railcard

        • CV and references

        • Relevant exam certificates or results slips

        • Laptop

        • Charger

        • Headphones

        • Strong weekend bag

        And for the kitchen:

        • Kettle (usually supplied)

        • Toaster (usually supplied)

        • Large and small saucepan (with lid)

        • Small frying pan

        • Wok or large frying pan (with lid)

        • Glasses

        • Cutlery, tin opener, cheese grater, wooden spoons, bottle opener, vegetable peeler, and kitchen scissors.

        • Crockery (plates, bowls, mugs, cups)

        • Tea towels

        • Microwavable bowl

        • Mixing bowl

        • Measuring jug

        • Chopping board x 2

        • Sieve

        • Tupperware (plastic tubs for storing leftovers).

        • Sandwich bags

        • Tin foil

        • Bin bags

        Source: Read Full Article

        Trump Calls Omarosa Manigault Newman a 'Dog' After She Claims He's Racist and in 'Mental Decline'

        Donald Trump launched his most vicious attack yet against one-time Apprentice star and former White House aide Omarosa Manigault Newman on Tuesday, responding to her litany of allegations against the president, including that he’s in “mental decline” and that he can be heard using the “N-word” on an alleged tape recording.

        Tweeting early Tuesday, Trump wrote, “When you give a crazed, crying lowlife a break, and give her a job at the White House, I guess it just didn’t work out. Good work by General Kelly for quickly firing that dog!”

        Manigault Newman’s book — Unhinged: An Insider’s Account of the Trump White House — was released Tuesday, following a series of press appearances in which the former reality star leveled numerous claims about Trump.

        Trump additionally addressed Manigault Newman’s claim in Unhinged that he was recorded repeatedly using the “N-word” in outtake footage from the NBC reality show.

        [email protected] called to say that there are NO TAPES of the Apprentice where I used such a terrible and disgusting word as attributed by Wacky and Deranged Omarosa,” Trump wrote late Monday. “I don’t have that word in my vocabulary, and never have. She made it up. Look at her MANY recent quotes saying such wonderful and powerful things about me – a true Champion of Civil Rights – until she got fired. Omarosa had Zero credibility with the Media (they didn’t want interviews) when she worked in the White House. Now that she says bad about me, they will talk to her. Fake News!”

        A rep for Burnett — who produced The Apprentice — did not immediately respond to PEOPLE’s request for comment.

        During a Sunday appearance on Meet the Press, Manigault Newman said that though she wrote in the book she had only heard about the tapes from multiple sources, she alleged that she has since listened to the comments herself.

        RELATED: Omarosa Manigault Newman Makes Bombshell Claim That Donald Trump Is in ‘Mental Decline’

        “I heard this voice as clear as you and I are sitting here,” she told Chuck Todd, adding that once she actually heard the recording, “it was confirmed, what I feared the most: that Donald Trump is a con man and has been masquerading as someone who is actually open to engaging with diverse communities.”

        She doubled down on her claims, Monday, during an interview with Today‘s Savannah Guthrie, commenting, “He was talking about some African Americans in the production during the course of The Apprentice, which is unacceptable. Here’s the thing. Why don’t we ask Donald Trump a simple question — ‘Donald J. Trump, have you ever used the N-word?’ — and allow him to respond? Because the people who have this tape intend to release this tape.”

        Manigault Newman was fired from the White House in December 2017. Earlier this week, she released a secret recording of Chief of Staff John Kelly firing her — one of multiple she made during her tenure.

        The president initially reacted to Manigault Newman’s book over the weekend, calling her a “lowlife.”

        RELATED VIDEO: Omarosa Manigault Newman Snaps at Savannah Guthrie During Heated Interview: ‘Slow Down’

        Press secretary Sarah Huckabee Sanders also issued a statement saying that the book “is riddled with lies and false accusations,” adding that “it’s sad that a disgruntled former White House employee is trying to profit off these false attacks, and even worse that the media would now give her a platform, after not taking her seriously when she had only positive things to say about the President during her time in the administration.”

        Source: Read Full Article

        China revs up spending plan as economy cools, investment growth at…

        BEIJING (Reuters) – The Chinese government is expediting plans to invest billions of dollars in infrastructure projects as its economy shows signs of cooling further, with investment growth slowing to a record low and consumers turning more cautious.

        The skyscrapers of the Central Business District rise behind the capital’s embassy neighbourhood in Beijing, China, July 28, 2018. REUTERS/Thomas Peter

        With its trade war with the United States threatening to pile more pressure on China’s economy, Beijing on Tuesday reported downbeat economic data, rolled out a $14 billion urban railway plan and pushed local governments to speed up issuance of special bonds for funding infrastructure projects.

        Official data showed fixed-asset investment expanded by a less-than-expected 5.5 percent in January-July, a result of Beijing’s crackdown on lavish local government borrowing for projects to boost growth.

        Industrial output also undershot expectations, weighed down by pollution curbs and an uncertain trade outlook, adding to expectations that authorities will roll out more policy stimulus.

        Since the trade war started, Beijing has shifted its focus to boosting domestic demand and is taking a more measured approach to curbing financial risks and debt, which has pushed up borrowing costs and numbers of defaults.

        The finance ministry said local governments should accelerate issuance of special bonds for infrastructure projects over the next couple of months. Local governments are allowed to issue 1.35 trillion yuan ($196 billion) of such bonds this year.

        In the past month, the government has promised to raise spending on railways and roads – its traditional approach when the economy slows – though it said investment will be more targeted.

        The transit authority of the eastern city of Suzhou said China’s state planner has approved a $14 billion expansion of its urban rail network. That followed approval for a similar project in a northeastern city.

        The central bank is also pumping more money into the financial system and urging banks to offer more loans at cheaper rates to small businesses. New yuan loans exceeded expectations in July, in one of the few bright spots in the most recent data.

        “Admittedly, infrastructure spending may soon bottom out given the recent shift toward a looser fiscal stance and monetary easing should eventually drive a turnaround in credit growth,” Julian Evans-Pritchard, senior China economist at Capital Economics, wrote in a note.

        “However, these are unlikely to put a floor beneath economic growth until the middle of next year.”

        Many analysts predict a steady stream of support measures in the coming months. The July data “is likely to prompt more policy support”, DBS of Singapore said in a report.


        The pace of fixed asset investment was the weakest in records going back to early 1996, according to data on Reuters Eikon. Investment had been expected to grow 6.0 percent in the first seven months of the year, steady from January-June.

        For July, fixed-asset investment grew 3.0 percent from a year earlier.

        Retail sales also missed expectations. They rose 8.8 percent in July from a year earlier, below an expected 9.1 percent and down from 9.0 percent in June, despite a broad import tax cut last month.

        It was not clear if consumer reluctance was due to softening local conditions or worries about the trade war. A Reuters straw poll of Chinese consumers found nearly one in three want to stop buying U.S. products now and some are already boycotting them.

        Industrial output rose 6.0 percent in July, missing analysts’ estimates for 6.3 percent and unchanged from June.

        U.S. tariffs have had little effect on China’s trade and inflation so far. However, business surveys point to weakening export orders and there are concerns that a protracted battle could lead to a sharper Chinese slowdown than expected a few months ago.

        China and the United States have imposed tariffs on each other’s goods and more begin next week, with few signs that either side is ready to compromise.


        In one of the few encouraging spots in the data, private sector fixed-asset investment rose 8.8 percent in January-July, up from 8.4 percent in the first half. It accounts for about 60 percent of overall investment in China.

        But growth in infrastructure spending slowed to 5.7 percent in the first seven months from 7.3 percent.

        Still, there were early signs that Beijing’s shift to supporting growth may already be having an effect.

        Real estate investment jumped 13.2 percent in July year-on-year, the fastest in nearly two years and higher than June’s 8.4 percent, according to Reuters calculations.

        New construction starts jumped 32.4 percent year-on-year, probably buoyed by stronger home sales, improved funding conditions for cash-strapped developers and the government’s heavy spending on public housing.

        Infrastructure loans also rebounded sharply in July.

        The Politburo said last month it would achieve this year’s GDP growth target of around 6.5 percent, despite mounting risks. Last year the economy expanded 6.9 percent.

        Some China watchers fear Beijing is returning to debt-fuelled growth, undermining its push to reduce riskier lending and a mountain of debt.

        But unless conditions deteriorate markedly, most economists believe Beijing will stick with its deleveraging campaign, albeit at a more cautious pace, as it waits to see how the trade dispute plays out.

        On Monday, a financing vehicle created by a local government in the western Xinjiang region missed a coupon payment on 500 million yuan of short-term paper, an example of the strain caused by the deleveraging campaign.

        China economy dashboard: tmsnrt.rs/2iO9Q6a

        Source: Read Full Article

        China’s economy slumped in July

        BEIJING–Business activities in China cooled further in July, with investment slowing to a near two-decade low, official data showed, suggesting the Chinese economy is facing increased headwinds amid rising trade tensions with the U.S.

        Fixed-asset investment in China’s non-rural areas climbed 5.5% in the January-July period from a year earlier, the National Bureau of Statistics said Tuesday. That’s the slowest level since end-1999, according to Wind Information.

        It was also slower than the 6% increase recorded in the January-June period and undershot a median forecast for a 6% rise in a Wall Street Journal poll of economists.

        Retail sales in China climbed 8.8% in July from a year earlier, slowing from a 9.0% on-year increase in June and lower than economists’ forecast of 9.0% growth. Retail sales increased 0.67% in July from June. In June, retail sales rose a revised 0.74% from the previous month.

        Value-added industrial output in China rose 6.0% in July from a year earlier, unchanged from the 6.0% increase in June but missing a median 6.4% forecast of economists surveyed by The Wall Street Journal. Industrial production rose 0.48% in July from June. In June, it rose 0.36% from May.

        A national urban survey unemployment rate stood at 5.1% last month, slightly higher than the 4.8% in June, the statistics bureau said.

        The statistics bureau is holding a news conference on the data that started at 0200 GMT.

        –Grace Zhu and Liyan Qi

        Source: Read Full Article

        Alibaba Stock Falls Near Key Support Levels

        Alibaba Group Holding Limited (BABA) shares fell nearly 3% in early trading on Tuesday in a continuation of the downtrend dating back to late July. The intensifying trade war between the United States and China has led to concerns of a slowdown in the volume of goods passing through Alibaba’s marketplace. Pinduoduo Inc. (PDD), a competitor, also went public on the NASDAQ in late July, raising $1.63 billion in the second largest initial public offering by a Chinese firm this year.

        Despite the bearish concerns, some investors have been building their stakes in Alibaba while prices are cheap. Jana Partners was a buyer during the second quarter, according to its 13F SEC filing. Alibaba also continues to forge partnerships with companies, ranging from Ford Motor Company (F) to Starbucks Corporation (SBUX), while continuing to invest in artificial intelligence and other next-generation technologies to solidify its position in the market. (See also: How Starbucks Can Profit From Alibaba Alliance.)

        Technical chart showing the performance of Alibaba Group Holding Limited (BABA)

        From a technical standpoint, Alibaba stock broke down from a symmetrical triangle pattern in late July and S1 support at $179.41 in early August. The stock trades near S2 support levels at $171.59 with an oversold relative strength index (RSI) at 32.12 and a bearish moving average convergence divergence  (MACD). These indicators suggest that the stock could see some near-term consolidation before any move lower.

        Traders should watch for some consolidation between S1 and S2 support levels over the near term. If the stock breaks out from S1 resistance, traders should watch for a move toward the 200-day moving average at $186.85. If the stock breaks down from S2 support, the next major support is near the trendline and prior reaction lows of around $166.29. (For more, see: Alibaba Faces More Declines as Trade War Heats Up.)

        Chart courtesy of StockCharts.com. The author holds no position in the stock(s) mentioned except through passively managed index funds.

        Source: Read Full Article

        Amazon ad banned from saying you get one-day delivery with Prime – this is why

        "Unlimited One-Day Delivery on millions of eligible items" – it’s one of the key reasons people sign up to Amazon Prime .

        But the online retail giant is about to be banned from making that claim by the regulator.

        That’s after the Advertising Standards Authority (ASA) was reportedly sent 280 complaints about things not being delivered the next day.

        The ASA is set to ban the ad from appearing again in its current form, in a ruling expected on Wednesday, and will say Amazon must make it clear that some of its Prime labelled items will not be available for next day delivery.

        "The ad must not appear again in its current form. We told Amazon to make clear that some Prime labelled items were not available to be delivered by the next day," the ASA will say.

        An Amazon spokesman said: "Amazon Prime offers fantastic benefits to members including One-Day Delivery on millions of eligible items at no extra cost.

        "The expected delivery date is shown before an order is placed and throughout the shopping journey and we work relentlessly to meet this date.

        "The overwhelming majority of One-Day Delivery orders are delivered when promised."

        The problems the ASA had

        The ASA went through Amazon.co.uk’s homepage in December 2017, looking for items that said "get unlimited One-Day Delivery with Amazon Prime" – coupled with a link to start a 30-day free trial with Amazon Prime.

        It then looked at a second page that read "Start Your Amazon Prime Free Trial Membership", next to the claim "Unlimited One-Day Delivery on millions of eligible items".

        Given no other information was clear on the page, the ASA felt consumers would probably think "One-Day Delivery" applied to all Prime labelled items – and meant the day after you order.

        But separate pages said delivery time for One-Day Delivery was "1 business day after dispatch" adding "If you choose One-Day Delivery, your order will be dispatched with the intention that it’s delivered one day after dispatch".

        The ASA didn’t think customers were likely to read those pages before deciding to start their Amazon Prime trial.

        "Because consumers were likely to understand that, so long as they did not order too late or for Sunday delivery, all Prime labelled items would be available for delivery the next day with the One-Day Delivery option, when a significant proportion of Prime labelled items were not available for delivery by the subsequent day with One-Day Delivery, we concluded that the ad was misleading," the ASA said in its ruling.

        Amazon’s response

        Amazon said the ads "did not promise a particular speed of delivery of a particular product" in its response to the ASA.

        A spokesman for Amazon added: "A small proportion of orders missed the delivery promise last year during a period of extreme weather that impacted all carriers across the UK, and we provided support to impacted customers at the time."

        The ASA said the issue was that some Prime-labelled items were not available to be delivered by the next day – not that they were late because of bad weather.

        Source: Read Full Article

        Turkish lira weakens slightly to 6.92 against dollar

        ISTANBUL (Reuters) – The Turkish lira weakened slightly to 6.92 against the dollar on Tuesday morning, having pulled back from a record low of 7.24 a day earlier after the central bank pledged to provide liquidity.

        Turkish lira banknotes are pictured at a currency exchange office in Istanbul, Turkey August 13, 2018. REUTERS/Murad Sezer

        The lira TRYTOM=D3, which closed at 6.9 on Monday, has lost 45 percent of its value against the dollar this year, hit by worries over President Tayyip Erdogan’s calls for lower interest rates and worsening ties with the United States.

        Source: Read Full Article