Live, rolling coverage of business economics and financial markets as Kantar data shows pressure easing on UK shoppers, and the Fed hints at nearer term rate cutsIt’s a sea of red across major indexes this morning, and while the FTSE 100 has pared some of its losses since the start of trading – having opened down 0.4% – it is still down 0.18%.London’s blue chip index has been dragged down by Burberry (-3.5%) after yesterday’s profit warning and the shock departure of its CEO, as well as Rio Tinto (-3.2%), following a disappointing trading update.Burberry extended yesterday’s losses as investors continued to lose patience with the luxury goods company.While it is getting a new boss this week, the scale of the challenge to fix the business looks large.Rio Tinto disappointed with its latest production update, with iron ore the biggest worry area after a weak quarter for output.Experian’s update was generally fine but didn’t deliver the earnings upgrades needed to justify its premium stock rating, leaving investors a tad miffed. Continue reading...