1.5% -1.8% -1.3% 0.4% -0.7% - goodman masson news... · buy-to-let investors shrug off new tax: a...
TRANSCRIPT
World Bank appoints female Chief Executive: Kristalina Georgieva,
Bulgaria’s European Commissioner who lost out in the race to become United
Nations Secretary-General in September, was named yesterday as Chief
Executive of the World Bank.
Cigarette firm hires zip guru as Boss: The cigarette filter maker Essentra has
poached the Boss of one of the world’s biggest zip manufacturers to
spearhead its turnaround after two profit warnings.
Six-year ban for disgraced Co-op Chief: The former Boss of the Co-
operative Bank has been banned from the accountancy industry for six years
after admitting misconduct while managing the troubled lender in the years
running up to its near collapse three years ago.
Powa valued at $18 billion shortly before collapse: A British technology
company that collapsed into administration this year had been valued at a
potential $18 billion in a Goldman Sachs document drawn up five months
earlier.
Stock Spirits receives shot across the bows: The biggest investor in Stock
Spirits has accused the listed distiller of paying its board directors too much
and of failing to respond publicly to questions about its corporate governance.
Bank ‘ready to admit it was wrong’: The Bank of England will concede this
week that it was wrong to predict an immediate slowdown after the Brexit
vote when it raises its growth forecasts for this year and next, but it will warn
that the squeeze on households is set to intensify.
Germans revel in confidence boost: German companies have the most
confidence in the state of their economy, while British businesses are said to
be divided about the impact of Brexit on the nation’s prospects.
Companies ‘must come clean on their pensions’: Two thirds of companies
in the FTSE 350 are not disclosing enough information about their defined-
benefit pension schemes, including the amount of future cash contributions,
according to new research.
Brexit is cue for UPS to pass the parcels to robots: Fears of a shortage of
workers after a “hard” Brexit have been blamed by UPS for a game-changing
decision to use more automation in its British depots.
Amiri checks into growing market for student flats: An asset manager is
preparing to float a company to invest in upmarket student accommodation in
the regions.
Jump in US GDP boosts case for rate rise this year: The prospect of an
interest rate rise in the world’s largest economy this year drew closer after
figures showed that the US had grown at its fastest pace in two years.
Current
Value (%)
Change* 1W% Change
FTSE 100 6,966.4 -0.4%
DAX 30 10,652.4 -0.4%
CAC 40 4,512.2 -0.8%
DJIA** 18,161.2 -
S&P 500** 2,126.4 -
NASDAQ Comp.** 5,190.1 -
Nikkei 225 17,425.0 -0.1%
Hang Seng 40 22,934.5 -0.1%
Shanghai Comp 3,100.5 -0.1%
Kospi 2,008.2 -0.6%
BSE Sensex*** 27,930.2 -
S&P/ASX 200 5,317.7 0.6%
Current Values as at 11:15 BST, *%Chg from Friday Close, **As on Friday Close, ***As on Sunday Close
-2.7%
-0.5%
-0.7%
0.4%
-1.8%
1.5%
-1.3%
-0.7%
0.1%
0.3%
-0.1%
-0.3%
Buy-to-let investors shrug off new tax: A quarter of homes bought over the summer were either second homes or buy-to-let
properties, netting the government an additional £440 million over three months after a new stamp duty tax was introduced.
Chinese bidder eyeing deal for £600 million Cala Homes: Britain’s largest private housebuilder has been approached about a
takeover by an unnamed Chinese company as the government pledged £3 billion to boost delivery of a million new homes by the
end of the decade.
City brokers targeted in US ‘spoofing’ investigation: Two London-based interdealer brokers are under investigation by the
American authorities over suspicious dealings in the $5 trillion-a-day foreign exchange markets.
GE holds talks with Baker Hughes over energy partnership: General Electric is looking to integrate its struggling oil and gas
business with Baker Hughes, the oilfield services group, in a deal that could be worth more than $20 billion.
BT boxes clever as it bids to knockout Sky: BT is poised to snap up the TV rights for boxing as it searches for new battlegrounds
in its war with Sky.
UBS facing Hong Kong floats inquiry: UBS risks being banned from advising clients in Hong Kong after regulators in the territory
began investigating the involvement of its investment banking arm in the flotation of companies on the local stock market.
AB InBev’s troubles were brewed in Brazil: Optimism generated by the £79 billion takeover of SABMiller, completed this month,
was quickly overshadowed as Anheuser-Busch InBev reported one of the worst quarters of trading in memory.
Rio Tinto digs itself out of a hole: Rio Tinto has moved a step closer to ending one of the mining industry’s most tortuous sagas
by agreeing to sell its share of the Simandou project in Guinea to its Chinese partner.
Woman wins $70 million over talc cancer claim: A Californian who blamed her cancer on Johnson & Johnson talcum powder
has been awarded more than $70 million in damages.
Smiths offloads its pensions for £250 million: Smiths Group completed a deal yesterday that transfers responsibility for more
than 3,000 members of its company pension scheme to a private provider.
After Nissan, drugs giants demand £1 billion to fill funding gap: Pharmaceuticals giants want the government to plug a £1
billion-a-year funding gap that will be created when Britain leaves the EU, as part of a list of demands being drawn up by big
business after last week’s deal with Nissan.
Network Rail begs for cash as budget hits buffers: Taxpayers could have to pump hundreds of millions of pounds of extra cash
into repairing Britain’s train tracks, after Network Rail begged the Treasury for a bailout.
HSBC plot to free up China cash: HSBC is in talks with the Bank of England over a deal that could release more than £5 billion
trapped in its Chinese business.
Matalan drops supplier over pricing row: Matalan has parted with one of its clothing manufacturers amid suggestions of friction
over pricing between the retailer’s board and its supply base.
Bank insider hits back at critics: The new Boss of the City watchdog, and former Deputy Governor of the Bank of England, has
warned that trouble for the British economy following the Brexit vote is “not over yet”.
Biotech’s scramble to avoid tariffs: One of Britain’s fastest-growing life sciences companies is in talks to build a huge warehouse
in the Netherlands, to avoid export tariffs in the event of a “hard” Brexit.
Investors pour £20 million into offices for start-ups: A trendy workspace for technology start-ups has won £20 million of
investment from high-profile backers to expand into Portugal and America.
Deutsche bankers’ ‘toxic’ bonuses plan: One of the City’s biggest employers is considering using its stockpile of toxic debt to pay
bonuses. Senior sources at Deutsche Bank say the group is mulling plans to offer shares in its non-core unit, which houses the toxic
loans, instead of cash payments.
BP trading division Chief Paul Reed to retire: The Chief Executive of BP’s powerful trading division, Paul Reed, has announced
he is to retire, ending a 37-year career at the oil major that saw him rise to one of the top positions in the company.
To Read More Click Here
FreeAgent bucks trend by going ahead with IPO: FreeAgent, a UK start-up that provides accounting software to small
businesses, is pressing ahead with plans for an initial public offering despite a sharp drop in the number of companies planning to
float in London.
To Read More Click Here
RBS small business allegation not backed by report: A long-awaited report into a unit of Royal Bank of Scotland has found no
firm evidence that it deliberately pushed small businesses into bankruptcy for its own profit.
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Property funds cancel sales as investors return: UK property funds are no longer trying to sell some of their central London
buildings, as investors have started putting money back into the sector — reversing a stampede for the exit that followed the UK’s
EU referendum.
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London trails post-Brexit business recovery: Businesses across the UK are weathering post-Brexit uncertainty better than
expected but one region looks less robust — London.
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Capita to assess contracts as part of strategic review: Capita, the FTSE 100 outsourcer, is planning to root out contracts where
further investment or cost-cutting is needed as part of a sweeping review of its operations and strategy.
To Read More Click Here
Solar industry rollercoaster offers a bumpy ride: In the US, the rooftop solar market has conformed to that pattern. Shares in
Vivint Solar, Sunrun and Elon Musk’s SolarCity have slumped over the past year, even though installations of new solar panels on
homes are on course to be about 20 per cent higher this year than in 2015.
To Read More Click Here
ANZ to sell Asia wealth and retail businesses to DBS: ANZ is selling its wealth management and retail business in Singapore,
Hong Kong and three other Asian markets to DBS for S$110 million above book value, making it the latest lender to retreat from
the region.
To Read More Click Here
China banks in stand-off with regulators on loan loss provisions: China’s banks are in a deepening stand-off with regulators
over the level of provisions they must make to protect against loan defaults as bad debts continue to climb.
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Big three US insurers set for earnings recovery: All three of the biggest US insurers, AIG, MetLife and Prudential Financial, are
poised to post improved earnings for the first time in five quarters, giving some relief to a sector hurt by persistently low interest
rates
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Deutsche Bank to sell $400 million stake in Las Vegas gambling group: Deutsche Bank is preparing to cash in on a $400
million stake in a Las Vegas gaming group, giving the bank a boost at a time of lingering concerns over the state of its balance
sheet.
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Changyu Pioneer accelerates wine imports into China: China’s biggest listed winemaker is preparing to ramp up imports from
Spain, France and other European countries amid expectations that wine consumption in the world’s second-largest economy will
continue to grow at a blistering pace.
To Read More Click Here
Singapore telco takes hands-on approach after cyber-attack: A Singapore telecoms group hit by the latest in a global wave of
internet service disruption is sending engineers into customers’ homes to secure devices unwittingly used in cyber-attacks.
To Read More Click Here
Standard Chartered in talks on Chinese aviation finance venture: Standard Chartered is in advanced talks over a Chinese joint
venture in aviation financing that will aim to help the country’s airlines pay for the $1tn-worth of new aircraft they are set to buy in
the next two decades.
To Read More Click Here
Tesla Chief in drive to woo doubters over planned SolarCity deal: Elon Musk renewed his efforts late on Friday to win over
doubters of his planned acquisition of SolarCity, as he showed off solar systems made to look like conventional roofs and an
upgrade to the residential battery made by his electric car company, Tesla Motors.
To Read More Click Here
Swiss court blocks Saint-Gobain move for Sika: French industrial group Saint-Gobain’s attempt to take over Switzerland’s Sika
has been blocked by a court ruling in the latest twist of a bitterly-contested saga that has raised concerns about corporate
governance in the affluent Alpine country.
To Read More Click Here
Morrisons adds salt to wound by raising price of Marmite: Marmite, the British breakfast staple that briefly disappeared from
Tesco’s website this month in a dispute over price, is becoming more expensive — a foretaste of the souring living standards that
many economists say will follow the sharp decline in the value of the pound.
To Read More Click Here
Wahaha seeks backing for possible Dean Foods takeover: Hangzhou Wahaha Group, one of China’s largest beverage
producers, has approached banks in Hong Kong for help in financing a potential takeover offer for New-York listed dairy group
Dean Foods, four people familiar with the company’s plan said.
To Read More Click Here
Comma cancels launch of self-drive car on regulator safety fears: A hotly tipped self-driving car start-up in San Francisco has
pulled the launch of its first product after the US transport regulator raised concerns about its safety.
To Read More Click Here
Canada and EU reach finishing line over trade deal: Canada and the EU will sign a long-awaited trade agreement on Sunday
after overcoming delays due to objections in Belgium’s French-speaking Wallonia region, according to Canadian Prime Minister
Justin Trudeau.
To Read More Click Here
Europe raises privacy concerns over WhatsApp and Yahoo: Italy and France have launched investigations into Yahoo and
Facebook’s WhatsApp messenger app after Europe’s data privacy watchdog raised ‘serious concerns’ about how the technology
companies handle user information.
To Read More Click Here
Rio Tinto agrees $1.3 billion sale of Simandou stake to Chinalco: Rio Tinto announced on Friday it had agreed to sell its stake
in the giant Simandou iron ore project in Guinea for up to $1.3 billion to Chinalco, in a deal that could see the Chinese group take
on development of the world’s largest untapped resource of the steelmaking ingredient.
To Read More Click Here
Britain hopes to showcase nuclear skills at Hinkley Point: British companies are looking to the construction of Hinkley Point C
in Somerset, the country’s first nuclear plant for a generation, to help re-establish its expertise in atomic energy.
To Read More Click Here
Fashion giant Next expected to report fall in sales this week as families choose restaurants over retail: Fashion giant Next
is expected to report a fall in sales this week as families choose restaurants over retail. The High Street is suffering from
unseasonably warm weather, increasing internet competition and changing shopping habits.
Bank of England looks set to abandon plans to cut interest rates again this week - offering a small crumb of comfort to
savers: The Bank of England looks set to abandon plans to cut interest rates again this week – offering a small crumb of comfort to
savers.
TK Maxx racks up smart rise in sales to £2.4 billion as it opens 25 new stores: Budget fashion retailer TK Maxx clocked up
another strong performance last year with a rise in turnover and profits.
National Lottery operator Camelot's £7.7 billion winning formula as ticket sales rise to highest since launch in 1994:
National Lottery operator Camelot made pretax profits of almost £100 million in a year that saw the highest total of ticket sales
since the lottery launched in 1994.
Theresa May's Government ‘making up Brexit strategy as it goes along': Theresa May and her Cabinet Ministers are pursuing
a “make it up as they go along” strategy for Britain’s exit from the European Union, according to John McDonnell.
Senior Tory urges Chancellor Philip Hammond to inject money into NHS amid social care crisis: Philip Hammond is under
pressure to use his first Autumn Statement as Chancellor to provide a cash injection for the NHS, amid claims social care in Britain
approaching “tipping point”.
Brexit: Theresa May urged to act fast as new poll finds huge support for protecting EU migrants’ rights: British people
overwhelmingly want Theresa May to immediately guarantee the rights of EU citizens living in the UK, an exclusive poll has
revealed.
RBS loses £469 million due to misconduct charges – and is set to face billions more in legal costs: Royal Bank of Scotland
lost £469 million between July and September due to misconduct charges and legal costs, as well as a large bill to restructure its
business.
DWP set to overhaul Work Capability Assessments for people with disabilities: The Department for Work and Pensions is to
overhaul the way claimants for disability benefits are assessed in an attempt to help more people into work.
Brexit: John McDonnell demands Government offers Nissan assurances to entire manufacturing sector: John McDonnell,
the shadow Chancellor, has demanded the Government extend assurances provided to Nissan to the entire manufacturing sector.
Britain's Fund Managers warn top companies over Chief Executive pay: Britain’s Fund Managers have written to the top 350
public companies telling them to publish how much their Chief Executives make compared with the average employee and to justify
the amounts paid out each year.
UK seeking tariff-free EU deal for carmakers, Nissan told: Nissan was told the UK was seeking an EU deal that would mean no
tariffs for car manufacturers and no bureaucratic impediments to trading, Greg Clark, the business secretary, has revealed.
EU and Canada sign CETA free trade deal: The EU and Canada signed a free trade deal on Sunday that was almost derailed last
week by objections from French-speaking Belgians, exposing the difficulties of securing agreement from 28 member states as Britain
prepares for Brexit talks.
Tax breaks and talent fuel UK’s creative industry boom: Netflix is rolling out the red carpet in Leicester Square, London, on
Tuesday for its first original UK production, a £100 million drama about the life of Queen Elizabeth II.
Shops forced to slash prices on winter ranges: Retailers are already being forced to cut the price of their winter ranges as yet
another mild autumn wilts demand on the high street for warm clothing.
BBC news translation service should be funded by government, say MPs: MPs have urged the government to take back
responsibility for funding BBC Monitoring – the division that translates and analyses news and information from around the world –
to stave off planned cutbacks.
Profits down for Match.com as Britons turn to free dating apps: The dating website Match.com suffered a collapse in profits
last year as fickle Britons turned to free smartphone apps to find a date.
Monday,
31 October 2016
UK: Lloyds Business Barometer, Gross Consumer
Credit, M4 Money Supply (MoM), M4 Ex IOFCs
3M Annualised, M4 Money Supply (YoY), Net
Consumer Credit, Net Lending Sec. on Dwellings,
Mortgage Approvals, Nationwide House Prices
n.s.a. (YoY), Nationwide House Prices s.a. (MoM)
US: Personal Income (MoM), Personal Spending,
Personal Consumption Expenditure Core (MoM),
Personal Consumption Expenditure Core (YoY),
Personal Consumption Expenditure Deflator
(MoM), Personal Consumption Expenditure
Deflator (YoY), Chicago PMI, Dallas Fed
Manufacturing Production Index, Dallas Fed
Manufacturing Business Index
EU: Gross Domestic Product s.a. (QoQ), Gross
Domestic Product s.a. (YoY), Consumer Price
Index - Core (YoY), Consumer Price Index (YoY)
Final Results: Stride Gaming, Wey Education
Interim Results: Berkeley Group Holdings (The)
Trading Announcements: Centamin, CNH
Industrial, Senior, WPP
Tuesday,
01 November
2016
UK: Markit Manufacturing PMI
US: Redbook Index (YoY), Redbook Index s.a.
(MoM), Markit Manufacturing PMI, ISM New
Orders, Construction Spending (MoM), ISM
Manufacturing PMI, ISM Prices Paid, IBD/TIPP
Economic Optimism (MoM), Total Vehicle Sales,
Domestic Vehicle Sales
Final Results: Egdon Resources
Interim Results: Falanx Group Ltd, First Derivatives
Trading Announcements: BP, Concentric, Go-
Ahead Group, Hastings Group,
Moneysupermarket.com, Royal Dutch Shell, Shire,
Standard Chartered, Virgin Money, Weir Group
Wednesday,
02 November
2016
UK: BRC Shop Price Index (YoY), Markit
Construction PMI
US: MBA Mortgage Applications, MBA Purchase
Index s.a. (Current Change), MBA Refinance
Index (Current Change), MBA Market Index,
MBA Purchase Index s.a., MBA Refinance Index,
ADP Employment Change, ISM New York Index,
DOE Distillate Inventory, DOE Gasoline
Inventories, DOE Cushing OK Crude Inventory
(Barrels), EIA Crude Oil Stocks Change (Barrels),
Fed Interest Rate Decision
EU: Markit Manufacturing PMI, ECB Balance
Sheet, European Commission Economic Forecasts
Trading Announcements: Biome Technologies,
Delphi Automotive, Indivior, JD Wetherspoon, Just
Eat, LivaNova, Millennium & Copthorne, Next, Old
Mutual, OM Asset Management, OneSavings Bank,
Persimmon
Thursday,
03 November
2016
UK: New Car Registrations (YoY), Markit Services
PMI, Official Reserves (Changes), Monetary Policy
Summary, BoE Inflation Letter, BoE Interest Rate
Decision, BoE Asset Purchase Facility
US: Challenger Job Cuts (YoY), Continuing
Jobless Claims - Net Change, Initial Jobless
Claims - Net Change, Non-Farm Productivity,
Unit Labour Costs, Continuing Jobless Claims,
Initial Jobless Claims, Markit Services PMI, Markit
Composite PMI, Cap Goods Orders Nondef Ex
Air, Cap Goods Ship Nondef Ex Air, Durable
Goods Orders, Durable Goods Orders ex
Transportation, Factory Orders (MoM), ISM Non-
Manufacturing PMI, EIA Natural Gas Storage
Change, EIA Natural Gas Storage
EU: ECB Publishes Economic Bulletin,
Unemployment Rate, ECB's Coeure speaks at
Harvard University
Final Results: Gattaca
Interim Results: Tate & Lyle
Trading Announcements: Belmond, Croda
International, Dialog Semiconductor, Glencore,
Howden Joinery, Inmarsat, JRP Group, Lancashire
Holdings, Rangold Resources, Regus, RSA Insurance,
Schroders, Shawbrook, Smith & Nephew, Travelport
Worldwide, William Morrison Supermarkets
Friday,
04 November
2016
US: Change in Household Employment, Change
in Manufacturing Payrolls, Change in Non-farm
Payrolls, Change in Private Payrolls, Average
Hourly Earnings, Change in Service Payrolls,
Average Weekly Hours All Employees Net
Change, Average Hourly Earnings All Employees
(MoM), Average Hourly Earnings All Employees
(YoY), Average Weekly Hours All Employees,
Unemployment Rate, Underemployment Rate,
Trade Balance, Baker Hughes US Rig Count
EU: Markit Composite PMI, Markit Services PMI,
PPI Excluding Energy (MoM), PPI Excluding
Energy (YoY), Producer Price Index (MoM),
Producer Price Index (YoY), ECB's Constancio
Speaks in Chicago
Trading Announcements: EasyJet, Informa,
International Consolidated Airlines, Kennedy Wilson
Europe Real Estate, Paddy Power Betfair