October, 2018

• 24 October

  US stocks tumble as growth worries mount; bonds rally

  

  Bloomberg The sell-off in US stocks picked up steam as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth. Treasuries rallied for a second day on demand for haven assets. The S&P 500 Index extended its October rout to 7 percent, with the intraday low of 2,711 set during the Oct 11 drubbing ...

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• 24 October

  Luxury stocks look good, but may not last

  

  Bloomberg The good news: European shares are heading for their first day of gains in six sessions, partly due to a jump in luxury stocks after another stellar sales report from the owner of Gucci. The bad news: It might not last. US stocks rallied after Europe’s equities markets closed, though now futures are pointing to another day of declines ...

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• 24 October

  UK plans new law to prevent repeat of Carillion collapse

  

  Bloomberg The UK is planning legislation to prevent a repeat of the contagion that followed Carillion Plc’s collapse. When the construction giant failed in January, it left its 30,000 suppliers some 2 billion pounds ($2.6 billion) out of pocket after it took up to four months to pay its bills. The shockwaves reverberated through the UK economy, damaging confidence already ...

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• 24 October

  Apple CEO slams Silicon Valley rivals over use of data

  

  Bloomberg Apple Inc. Chief Executive Officer Tim Cook lashed into companies like Google and Facebo-ok Inc. that collect user data, equating their services to “surveillance,” as he touted the importance of privacy and legislation to protect it. The comments, given at an EU privacy conference in Brussels on Wednesday, come months after the bloc implemented strict new data protection rules ...

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• 24 October

  P&G strikes back at doubters with surprisingly strong sales

  

  Bloomberg Procter & Gamble Co. has been dinged over the years for being too big, too slow and too cautious as it tried to break out of tepid growth. It has issued a rejoinder: the largest jump in five years of a key sales measure. Investors cheered the first-quarter results, which the company says is proof its turnaround is working. ...

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• 24 October

  France tells companies to be ready for all Brexit scenarios

  

  Bloomberg The French government told companies to begin preparing for all Brexit scenarios, including no deal between the European Union and the UK. At a closed-door meeting at the finance ministry, Secretary of State Agnes Pannier-Runacher recommended business leaders start identifying measures to limit the impact of Brexit and begin alerting their suppliers. France hopes Michel Barnier’s efforts to reach ...

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• 24 October

  UK employers’ confidence slips as Brexit nears

  Bloomberg UK employers’ economic confidence is weakening as the nation prepares to leave the European Union. The net balance of employers with a positive outlook for the economy fell to the lowest since February, the the Recruitment and Employment Confederation said on Wednesday. However, the confidence of employers to make hiring and investment decisions remained positive during the three months ...

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• 24 October

  German growth momentum slows as factory orders shrink

  

  Bloomberg Germany’s economy started the fourth quarter on the back foot, with private-sector activity slowing to the weakest since 2015 and factory orders contracting for the first time in four years. The composite Purchasing Managers’ Index for Europe’s largest economy dropped to 52.7 in October from 55.0 last month, according to a flash reading released by IHS Markit on Wednesday. ...

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• 24 October

  Ousting Theresa May wouldn’t solve Brexit

  

  To every complex human problem, there is a solution that is neat, plausible — and wrong. That observation by H.L. Mencken came to mind as rumours resurfaced this week that pro-Brexit Conservatives were plotting to oust their leader, Prime Minister Theresa May, by triggering a no-confidence vote in Parliament. Getting rid of May might be a neat solution to the ...

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• 24 October

  Goldilocks abandoned stock markets

  

  Strong US economic growth has encouraged the Trump administration to escalate the trade war with China, putting increasing pressure on that nation’s economy and financial markets. At the same time, the Federal Reserve raised interest rates last month for the eighth time since December 2015, and a majority of policy makers even see the need to boost rates above the ...

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