Live news: Singapore-based Olam reports 8.3% profit dip on rising costs
If you’re studying this within the northern hemisphere — and subscribe to meteorological definition of the seasons — the excellent news is that we’re quickly heading into spring. And just like the promise of hotter and longer days (to not point out daffodils for St David’s Day on Wednesday), there may be some motive for cheer amid the information diary gloom.
However first, the actually miserable one. Few want reminding concerning the battle in Ukraine, however it’s value noting — and little question shall be by different media retailers — that Monday is the ninth anniversary of the pro-Russian rebellion in Crimea that led to the annexation of the peninsula. If you’d like some thought of a means ahead, I’d advocate the Weekend essay on what the Chilly Battle taught us about containing Russia.
Additionally on Monday, British households will get some readability (and maybe excellent news) on the place their gas payments are heading when Ofgem updates its power value cap for the approaching quarter. The common annual UK home cost had been anticipated to rise £500 to £3,000 (decrease than Ofgem’s headline determine, because of the federal government’s Power Worth Assure), and confidence is rising that this higher restrict shall be frozen after heavy lobbying from campaigners.
The outlook is blended for that different rolling UK story: the surge in strikes. A shock drop in public sector borrowing has introduced hope of a decision to most of the pay disputes, however the state of affairs stays sophisticated.
Some motion because of happen this week has been postponed to allow negotiations on settlements, whereas others (such because the TSSA rail union) have permitted affords. However we begin on Monday with but extra stroll outs and a risk of recent disputes bobbing up because the deadline for ballots amongst NHS consultants and rail employees conclude on Monday and Tuesday respectively.
So what about some unashamed excellent news? Nicely, for astronauts the one means is up. Nasa’s SpaceX Crew-6 mission to the Worldwide House Station is because of launch from the Kennedy House Heart in Florida early on Monday morning native time. You possibly can observe occasions stay on the company’s web site.
One season drawing to an in depth is the earnings one.
One to observe shall be Salesforce on Wednesday because the activist traders circle. The core downside has been an absence of consideration to revenue margins on the expense of progress — Wall Road has complained about this for years, however the software program firm’s progress was at all times sufficient to fend off the naysayers. Sadly for co-founder and chief govt Marc Benioff, progress has taken a dip (see the chart under) leaving him uncovered — and the job cuts, whereas important, thus far don’t go far sufficient.
The total-year outcomes from Serco have been supposed to return final Thursday, however a request by auditors KPMG for extra time means they are going to now be out on Tuesday. Traders and analysts shall be listening rigorously to lately appointed chief govt Mark Irwin in case he heralds a change in route for the outsourcer.
Rival Capita, which reviews two days later, has been disposing its non-core companies to lift money, so be careful for an replace on this.
This week additionally sees the annual gathering of cell telecoms business executives and tech fans in Barcelona for the MWC commerce present, providing an opportunity for chief executives to touch upon the long run route of the wi-fi networked world and firms to launch new digital toys.
It’s a quieter week for financial knowledge reviews with inflation and gross home product updates the most typical gadgets. One other set of buying managers’ index reviews, this time for manufacturing, will add to the worldwide comparisons of financial efficiency, though much less use for observers of the UK’s efficiency than final week’s companies PMI knowledge.
The minutes of the final European Central Financial institution financial coverage committee assembly and the US and eurozone client confidence figures may assist present some indication of future rate of interest actions on both facet of the Atlantic.
Learn the complete week forward calendar right here.