Mood – Feeling the heat (3/10)

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As Labour winning a trio of Conservative councils in London puts Boris under renewed pressure, things are hotting up elsewhere with the Bank of England warning of 10% inflation and Britain tipped to enter a recession later this year. A day after the Dow’s biggest loss of 2022, the FTSE All Share is under pressure. COVID-19 has now claimed one million lives in the US and nearly 15 million worldwide.

HIT IN THE POCKET

Some corporates are under the cosh, with British Airways’ parent IAG posting a €731m quarterly loss and thousands of jobs under threat if convenience stores group McColl’s falls into administration.  Senators in Illinois are ’incredibly disappointed’ that Boeing is moving its headquarters from Chicago to Virginia.

SEEING UPSIDE

InterContinental Hotels Group is seeing ‘very positive trading conditions’, while Sir Martin Sorrell’s S4 Capital has doubled revenues after securing big-hitting ‘whoppertunities’. Eyewear group Bausch + Lomb could mount America’s second biggest stock market flotation of the year. To get a better view of fund managers’ philosophies and decisions, watch Edison executive director Neil Shah’s Vantage interview with Laura Foll, portfolio manager at Janus Henderson Investors

GIVING AND GETTING

As a man makes a living in New York by queuing for the uber-rich, venture capitalist John Doerr is giving $1.1bn to create a new climate school at Stanford University. And Canada wants to change the law so that its astronauts are no longer allowed to murder each other in outer space.

 

 

 

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