Monday newspaper round-up: UK productivity, Shein, Poundland

(Sharecast News) - Productivity in the UK - a vital measure of economic health - is growing more strongly than official figures suggest, according to analysis from the Resolution Foundation. The thinktank suggests the chancellor, John Healey, may have inherited an economy finally starting to emerge from the long shadow of the 2008 global financial crisis. Productivity measures the economic output produced by each worker, and is a crucial determinant of growth. - Guardian

Shein will debut on the Hong Kong stock exchange on 1 September, the fast-fashion retailer said on Monday, in a long-awaited listing that would value the group at close to $27bn. Founded in China and now headquartered in Singapore, the online retailer secured Beijing's approval last month to make its initial public offering in Hong Kong. Its valuation has dropped by about 70% from a near $100bn private market peak four years ago, as it aims to raise up to HK$13.86bn ($1.77bn) `in its Hong Kong IPO launched `on Monday. - Guardian

Graduates are facing the worst job market on record as vacancies evaporate under pressure from tax and technology. Just 8,383 roles for university leavers were advertised in July, a 45pc drop on a year ago and the lowest since the figures were first compiled in 2016. The graduate jobs drought contrasts with the record flood of 262,820 18-year-olds preparing to begin their degree studies after earning a university place in their A-level results this month. - Telegraph

Criminals are targeting pensioners to serve as "money mules" to finance illegal gambling networks, industry chiefs have warned. As many as 2.5 million vulnerable people across Britain and Eastern Europe are being recruited by gangs to facilitate money laundering in the gambling black market, according to research commissioned by the Betting and Gaming Council (BGC). - Telegraph

Poundland overstated sales by £60 million in the year before it was sold by Pepco for a token £1, newly published accounts reveal. Filings for Poundland Ltd reveal that numerous balance sheet errors were uncovered by a review of the business during its acquisition by Gordon Brothers, the investment firm. The deal, which was announced last June, preceded a restructuring in which about a fifth of its store estate was closed and more than 2,000 jobs lost. - The Times