October 23 , 2020 Biz in 60

UK retail sales rise for fifth straight month in September UK retail sales rose in September for the fifth consecutive month, with figures for most sectors now at pre-pandemic levels. The volume of overall sales rose by 1-and- a-half percent from the previous month, boosted by purchases at furniture and gardening stores. Sales were 5-and- a-half percent higher than in February, which was the last month before the coronavirus outbreak hit the country. Huawei's revenue growth slows sharply as US sanctions bite Huawei's revenue growth slowed sharply in the third quarter as US sanctions continued to weigh on its operations. Revenue at the Chinese telecom giant came in at 32-and- a-half billion dollars in the July to September period, up 3-point-7 percent year-on-year. That''s down from the 27-percent growth recorded in the same quarter last year. Daimler raises full-year profit outlook on China boost Daimler has lifted its full-year profit forecast after a 24-percent jump in Chinese demand for its Mercedes-Benz cars boosted margins in the third quarter. The German carmaker now expects earnings before interest and taxes to match those seen in 2019. Meanwhile, Renault posted a smaller than expected fall in revenue after dealerships reopened following coronavirus lockdowns.