The Day Today 8th October 2019

– US blacklists 28 Chinese companies and organisations “implicated in human rights violations and abuses…against Uighurs, Kazakhs” but Asian markets take relief that China’s Vice-Premier Liu He will lead the trade delegation this week
– US officials want to help Huawei’s competitors, such as issuing credit to Nokia and Ericsson
– HM Revenue and Customs warned of a £15bn “administrative burden” on British business in event of no-deal Brexit
– World Bank president warns on global growth due to “Brexit, Europe’s recession, and trade uncertainty”
– Japan household spending rose (ninth month in a row) 2.4% mom vs f/c 2.8%, but wages fell and turnover in Japanese supermarkets has plunged since last week’s consumption tax rise
– Samsung sees 56% fall in Q3 operating profits (beats expectations), fourth consecutive quarter its recorded a profits drop
– Hong Kong Exchanges and Clearing will not proceed with London Stock Exchange Group offer

US equities closed lower after fluctuating all day. The focus was the Chinese Commerce Ministry narrowing trade negotiations to the parts both sides agree on, leaving harder issues for next year. Asian stocks rose (volumes are thin) with China opening little changed after a week long holiday, then rallied

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The Week That Will Be

On this day in 1918 Corporal Alvin York won the Medal of Honour by killing 28 enemy soldiers and capturing 132

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