The mood: Uninterrupted

Published on 30-09-2020 13:35:49

Trump and Biden were at loggerheads in last night’s chaotic Presidential election debate, but we’re not allowing the same kind of chaos to interrupt markets today.

Despite the hullabaloo, research shows US TV debates rarely dictate the vote. So, it’s business as usual for the FTSE 100, despite Shell axing up to 9,000 jobs the day after Disney announced 28,000 lay-offs.

Google is not letting the home-working boom stop it from renting more London offices, boohoo has upgraded profit forecasts despite the controversy over factory conditions at suppliers, and Edison client Pharnext is showing old drugs can have effective new uses.

Continuity is king as UK mortgage approvals ignore the economic uncertainty by climbing to a 13-year peak. And Taiwan’s economy seems almost completely unaffected by the COVID-19 pandemic.

Still, radical interventions are favoured by some. JP Morgan is paying $920m to resolve investigations into its own trading practices. The Huffington Post’s owner is said to be considering a fire sale. Tesco’s long run as Britain’s most valuable retailer has been halted by Ocado.

In further-flung interventions, Amnesty International has suspended its operations in India, while Priti Patel did give some thought to despatching asylum seekers to the South Atlantic.

However, the US government isn’t doing much to sort out one of the world’s most-faked foods. And don’t figure on write-offs for your haircuts, despite a presidential precedent.

Meanwhile, a Lincolnshire zoo is showing how to deal with potty-mouthed parrots and startled cats, laughing horses and a dog with its nose in a biscuit jar are vying for top prize in a comedic photography contest.

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