Mario Draghi talked tough yesterday reiterating that the ECB will not be shy of taking action in support of the EU economy in a period of weakening growth and uncertainty, citing populism and inevitably Brexit. The Euro strengthened, bond yields rose and after a day of up and down trading the net move is pretty much zero. Today is all about US employment data which has the capacity to unsettle already nervous markets awaiting further news on the Mexican tariffs by the US.
The news announced yesterday morning by Ford bosses of the shuttering of the Bridgend business that manufactures engines will be devastating to the 1500 who will be losing their jobs. The plant is more than 40 years old and is a mainstay of the community. This is part of a Ford initiative to shed 7000 jobs globally of which 550 will be in the UK. The car business is unforgiving and new technology, fuel economy, driverless and battery are all conspiring against it. What will fill the gap away from the auto manufacturing industry? UK plc needs to encourage entrepreneurs and restore incentives to businesses especially in the brave new world outside the EU.
99 Problems may be his best song but finance and women (and self belief) are unlikely to be included in his 99- see below. Lyrics include:
“I don’t know what you take me as Or understand the intelligence that Jay-Z has”
Jay-Z is the first hip hop artist to reach a net worth of $1 billion according to Forbes Magazine- ahead of Diddy with $825M and Dr Dre with $800M.
If you’re having girl problems I feel bad for you son I got ninety nine problems but a bitch ain’t one.
SGM-FX’s Euan is mulling this positivity in his ongoing efforts to woo the barista bombshell who works next door in Manon.
Discussion and Analysis by Humphrey Percy, Chairman and Founder
POTUS in Kingdom of Saudi Arabia As one of POTUS’ travelling companions on this week’s visit, Larry Fink of Blackrock represents everything that a US President might want to burnish his credentials in the desert kingdom: head of the largest asset manager on the planet, hugely influential and totally credible. Just a shame that he […]
UK Borrowing Another one for the pub quiz in case it comes up: UK government borrowing stands at £2.8 trillion or £2800 billion. While you digest that number over the chicken in the basket if indeed you are already in the pub, it will have increased by the time you get to the end of this […]
The Art of the Deal Today the UK Prime Minister will be announcing the fruits of his weekend labours after meeting the EU not as an accredited delegate but in a side session on the fringes of the EU Summit in Albania. What was on the table? Youth mobility, which is pol speak for 24-30 […]