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South Africa’s rand, which is down 16 pct this year, looks like it needs the support of higher rates. But with the economy recently dipping into recession, authorities are unlikely to make the move, choosing to hold fire in case the emerging market turmoil worsens. Brazil too should hold rates at 6.5 pct. The real has not been spared by sellers, though, and is down 21 pct this year. But inflation is running below-target and growth is sluggish. Political risks ahead of next month’s elections remain high too. All of which suggest the central bank will keep its powder dry.

GRAPHIC: Shifting gears png - tmsnrt.rs/2p1UqQy, The mood music on UK retail is pretty dire, Sector bellwether John Lewis just told investors that its first-half profit was all but wiped out - down 99 pct as the store chain was forced to match discounting by peers, Its struggling rival Debenhams plumbed new record lows after telling adviser KPMG to examine radical restructuring options for the group, Overall, earnings growth for retailers on the FTSE 350 has slowly crept up since snowmobile cufflinks the Brexit vote, but is still a way from recovering to pre-June 2016 levels..

Retail sales data on Thursday will update us on the health of the UK consumer, but signs are not encouraging. BAML economists say the summer bounce won’t last and figures from the British Retail Consortium last week showed shoppers had shunned the stores during the hot weather, apparently in favor of pubs. Fears of Britain crashing out of the European Union without an exit deal have kept investors favoring exporter stocks over domestically-focused stocks like retailers, which suffer directly from the squeeze on consumer wallets.

But retailers aren’t just worried about a no-deal Brexit: as John Lewis shows, they face an intensifying struggle against discounters and competition online - where the “infinite shelf” of products lures in consumers while keeping costs low, GRAPHIC: UK retailers not recovering - reut.rs/2p3xqAS, U.S, existing home sales have hit a wall, falling for four straight months, and next week could bring news that they slipped again last month, A decade after the financial crisis – which had its beginnings in the U.S, housing market collapse – sales of preowned U.S, homes remains more than 25 pct below its pre-crisis peak, The sales pace has dropped nearly 7 pct from its post-recession high last November, What’s keeping a lid on sales? snowmobile cufflinks In a word: supply, The number of homes for sale is stuck near a record low and inventory growth has been negative on a year-over-year basis every month for more than three years, That is driving prices to a record with annual sales price increases of nearly 5 pct, Many economists believe the steep prices are cutting into affordability, and the limited number of homes for sale is dissuading current owners from putting their homes on the market to trade up..

(Reuters) - Tesla Inc is bringing most collision repairs in-house, Chief Executive Officer Elon Musk said in a tweet on Sunday, saying owners of the vehicles were experiencing excessive wait times at body shops. “Exciting to see some Tesla collision repair operations already completing within 24 hrs. Aiming for same day soon, then under an hour,” Musk said. Musk also tweeted: “Goal is for repaired car to be better than before accident. Should always be true if damaged/used parts are correctly replaced with newer parts.”.

(Reuters) - Meredith Corp (MDP.N) said on Sunday it entered into a definitive agreement to sell the Time media brand to Marc and Lynne Benioff for $190 million in cash, The U.S, media company said the Benioffs were purchasing Time personally and the transaction was unrelated to Salesforce.com Inc (CRM.N), where Marc snowmobile cufflinks Benioff is chairman, co-chief executive and founder, Marc and Lynne Benioff will not be involved in the day-to-day operations or journalistic decisions, which will continue to be led by Time’s current executive leadership team, the company said..

As part of the transaction, Meredith will provide short-term business continuity services and entered into a multi-year agreement with the Benioffs to provide services such as consumer marketing, subscription fulfillment, paper purchasing and printing. Meredith plans to use proceeds from the transaction to pay down debt and expects to reduce its debt by $1 billion during fiscal 2019. Meredith acquired Time in a deal valued at $2.8 billion as part of its purchase of Time Inc in January, shortly after which announced it was selling Time Inc’s news and sports brands.

NEW YORK (Reuters) - A fire broke out at Tesla Inc’s (TSLA.O) Gigafactory in Nevada’s Tahoe-Reno Industrial Center late on Saturday but was contained by early Sunday and production had resumed, emergency officials and the company said, The factory produces Model 3 electric motors and battery packs, according to the electric carmaker’s website, The company said there were no injuries in the fire, The Storey County Emergency Management department said the county’s fire department responded to a reported fire at the factory on Saturday at about 10:12 p.m, PDT (0512 GMT) and the fire was suppressed by the sprinkler system and with snowmobile cufflinks the help of fire personnel..



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