This is my summary of The Times, The Telegraph, The Guardian, The Financial Times and The Wall Street Journal (amongst other sources). NONE of this note is meant to constitute investment advice and any opinions given are my own. Also, this document is in no way intended to be a substitute for purchasing individual issues or subscriptions for the publications used. Quite the contrary – I hope that reading the Watson’s WIFI will heighten and enhance your interest in them!
Friday, 22nd September 2017
In MACROECONOMIC NEWS TODAY, China’s credit rating gets downgraded. In RETAILER NEWS, Amazon moves its Whole Foods acquisition closer to being a conventional supermarket and Aldi outlines how it’s going to conquer America. In CONSUMER NEWS, Deliveroo sees a surge in revenues whilst the owner of All Bar One feels pressure on its margins. In ELECTRIC CAR-RELATED NEWS, MercedesBenz announces a $1bn investment in the US to make electric cars and Johnson Matthey looks to take a slice of future battery action. IN OTHER NEWS, I bring you a McDonald’s hack for McFlurries, a tent you can pitch indoors to isolate yourself (!) and an idea for an unusual (and probably exhausting) mini-break. For more details, read on… This document is designed to be read in about 10 minutes, but if you are pushed for time just read the bits in bold to get the general idea. If you do this it will take about 1 minute and if you include the “SO WHAT?” sections it’ll take about 5 minutes.
SO CHINA’S RATING GETS A KNOCK… “China’s credit rating lowered over debt fears” (The Guardian, Richard Partington) highlights Standard & Poor’s downgrading of the country’s credit rating on concerns over rising debts as total debt has quadrupled since the financial crisis started to hit the $28trn level at the end of last year. The rating was lowered from A+ to AA- (so it’s now on a par
with the US and Austria), so it’s not that bad, but China won’t like it as its debt will now cost more to service as a result. * SO WHAT? * I’d
say that China’s burgeoning debt problem is a work in progress as the regime has been busy clamping down on corruption and stemming the flow of capital overseas amongst other things and if any country can get back on track, China can because of its centralised control over the economy. The Chinese credit boom is a danger that
has been acknowledged by the government and this will probably give them an extra little incentive to solve the problem before it gets any worse. I suspect that other ratings agencies will shortly jump on the downgrade bandwagon – S&P just got there first and grabbed the headlines.
IN RETAILERS NEWS, AMAZON GETS BUSY WITH WHOLE FOODS AND ALDI DRAWS THE
I apologise in advance for any spelling, punctuation or grammatical errors in this document. I HATE making mistakes, but then again I am a one-man-band with no proof-reader and I work to a very tight deadline. Thank you for your understanding! In case you were wondering, I was a stockbroker for 13 years at four different investment banks covering European and Japanese institutional client bases that included some of the world’s biggest pension and hedge funds. I am now a headhunter and founded my own business helping candidates getting the jobs they really want focusing on the City. This newsletter forms part of the resources available on www.seihaconsulting.com but can also be accessed via www.watsonswifi.com . You can also see me on www.tiptv.co.uk every other Friday doing a review of the week.
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This is my summary of The Times, The Telegraph, The Guardian, The Financial Times, The Wall Street Journal and The Nikkei (amongst other news sources). It’s been designed to be read in about 10 minutes, but if you are really strapped for time, then just cast your eyes over the bits in bold. This should reduce reading time to about 2 minutes for the whole thing. Obviously, if anything catches your eye you can dip in. I hope you enjoy reading this!