Last week: 1
Sales at education giant Pearson (PSON.L) fell 10% in the three months to September as a slump in its textbook and testing business eclipsed a rise in online learning.
It was the third consecutive quarter of decline, but an improvement on the second quarter’s 28% fall.
The FTSE 100 publisher, which is transitioning from traditional textbooks to digital, has suffered from tumbling sales this year as schools and testing centres shut in response to the COVID-19 pandemic.
However, digital revenue did manage to soften the pandemic blow as its online education business posted a 32% increase.
Enrolment in virtual schools jumped 41% in the first nine months of the year but overall sales were 14% lower in the period compared with 2019.
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SYDNEY (Reuters) – Business failures in Australia are likely to rise with commercial property seen among the hardest hit sectors as a shift to work-from-home arrangements empties offices and major retail precincts, the central bank said on Friday.
The Reserve Bank of Australia (RBA) said the outlook for commercial property means banks’ impairment rates will likely climb from current low levels while some indebted landlords will find it difficult to meet their debt repayments.
Risks appear highest for retail commercial property, the RBA noted, while adding there was still a high degree of uncertainty about the magnitude and timing of business failures in the country.
Australia has been lauded for its success globally to curb the spread of the coronavirus and open its economy earlier-than-expected though with domestic and international borders
COLUMBUS, Ohio—Initial claims for unemployment benefits in Ohio rose last week for the third week in a row, even as the number of continued claims fell for a second straight week.
For the week of Sept. 20-26, 18,592 initial jobless claims were submitted — an increase of 648 claims, or about 3.6%, compared to the previous week, according to an Ohio Department of Job and Family Services release.
Ohioans filed 299,030 continued unemployment claims last week, down 2,244 claims, or about 0.7%, from the week before. The week before, the number of continued claims fell about 6%.
ODJFS has cited continued jobless claims as a sign of whether people are returning to work after coronavirus shutdowns earlier this year. Since the height of the coronavirus crisis last spring, when state “stay-at-home” and business closure orders resulted in record unemployment filings, the number of new and continued claims has generally fallen