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...“I am cautiously optimistic that we will see continued progress on disinflation without significant deterioration of the labour market,” said Kugler....
...While her politically inept successor Rishi Sunak clings on thanks more to statutory law than political skill, Truss has been on a global tour....
...Management is aiming for half of total global revenue to come from non-cigarette products by 2035....
...The impairment, which does not affect cash flow, is equivalent to half of BAT’s market value today. BAT is also doubling down on next generation products, such as vapes....
...The performance of US stocks over the past decade has obviously been phenomenal, but of all these MIST/MIKT/MINT markets, only South Korea has matched the broader MSCI Emerging Markets index (NB, the MSCI...
...BAT prefers to refer to it as combustibles, not cigarettes. On Wednesday, it reminded the market why....
...Global tobacco industry sales volumes will be down about 3 per cent in 2023, the group added, while reaffirming guidance for its own revenues this year....
...The pressure is especially high in China, the world’s biggest auto market and the US EV maker’s second-largest market by sales, where competition between local EV makers and foreign carmakers is heating...
...The market reaction on Wednesday was big. Stocks fell, futures markets further lowered rate cut expectations, and yields surged across the curve, led by the two-year which was up 23bp....
...The new entity will be named TGI Fridays, with the US and global operations remaining in Dallas under chief executive Weldon Spangler....
...But markets can be corrupted and are not fail-safe alone. The global financial crisis of 2008 was the result of unprecedented dysfunction and perversion of the mortgage securities market....
...Need to know: global economy IMF chief Kristalina Georgieva said China was at a “fork in the road” and must choose between past policies and “pro-market reforms” to get growth....
...Apple lost its lead in the global smartphone market at the start of 2024, with iPhone sales falling 10 per cent as lower-cost Chinese rivals such as Xiaomi experienced rapid growth....
...The company makes about four-fifths of its sales in the US, where the market is highly competitive....
...For Wall Street’s big four lenders, expectations that the Federal Reserve will delay rate cuts in response to stubbornly high inflation readings and a robust job market mean the good times should continue...
...Crypto is a 24-hour global market and most trading of the underlying asset takes place on lightly regulated or unregulated exchanges....
...Tesla and the unsettled EV market Yesterday we wrote about one of two faltering Magnificent 7 stocks, Apple....
...“The car distribution market is fragmented globally, but we are seeing that more brands are looking for one single distributor,” he said....
...But less global focus can mean missing out....
...According to the UN, Tether is also increasingly becoming a conduit for money launderers and fraudsters to move funds outside the global banking system....
...Futures markets now price in fewer than four 25bp interest rate cuts in 2024, down from five a week ago. This looks like an overreaction to us, but look at it from the bond market’s point of view....
...Most notably, it reveals a paradox now haunting markets....
...For S&P, it is the latest deal to bolster its offering to compete with the likes of Bloomberg in the market for financial data....
...“It’s certainly a milestone and [the share of ETFs in model portfolios] is only going to be going one way,” said Andrew Guillette, vice-president of global insights at Broadridge....
...So a new report from S&P Global Ratings on payment-in-kind bonds – aka PIKs – is going to really irritate them....
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