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Franklin Templeton

June 14, 2019

Should Markets Heed Recession Warnings?

Amid a renewed US-China trade spat and additional tariff tensions between the United States and Mexico, investor concerns about a possible recession have heightened, according to Ed Perks, executive vice president and chief investment officer, Franklin Templeton Multi-Asset Solutions.

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Edison

June 14, 2019

UK Sparks: Reassure Group Confirms Intention To Float

Reassure Group, the closed life insurance consolidator owned by reinsurer Swiss Re, has confirmed that it intends to list on the London Stock Exchange. The company says it will stage an initial public offering in July, with Swiss Re selling enough shares to provide a free float of at least 25%. No new funds are being raised for Reassure in the float, which is expected to make the company eligible for inclusion in the FTSE UK indices. Reassure says the flotation will increase its “flexibility and appetite for growth” and widen its future access to capital, as well as providing a partial exit for Swiss Re.

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BMO Global Asset Management

June 13, 2019

A Global Economy Far From “Normal”

Election fever hit India and Australia in May. The former, the largest democratic election in the world, resulted in a comfortable win for the incumbent – Narendra Modi and his Hindu Nationalist Party (Bharatiya Janata Party). Mr. Modi comes from a humble background and this appears to have resonated with millions of voters aspiring to a similar uplift in fortunes.

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Finimize

June 13, 2019

Dassault, Folks

French tech titan Dassault Systèmes announced a $6 billion acquisition of American software company Medidata Solutions on Wednesday, shining a light on previously announced major marriages…

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The Hammerstone Group

June 13, 2019

Early Look: Thursday, June 13, 2019

U.S. futures point to a bounce after slipping for a second straight session on Wednesday, dragged down by weaker energy and financial stocks (on lower oil and rising interest cut expectations), but look to steady ahead of jobless claims and import data later this morning. Oil prices surged today after reports of an attack on two tankers near Iran, boosting the region’s oil stocks.

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Edison

June 12, 2019

UK Sparks: Boohoo Bucks Gloom On High Street

Online fashion retailer Boohoo Group has again bucked the gloom on the High Street, reporting in a trading update that sales increased by 39% to £254m in the three months to May 31. Sales at the company’s PrettyLittleThing brand soared by 42% to £112m, while its Nasty Gal business more than doubled sales to £18.2m. The Boohoo brand itself increased revenues by 27% to £124m and the group’s gross margin remained stable at 55%.

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Edison

June 11, 2019

UK Sparks: Another Profits Warning From Ted Baker

Retailer Ted Baker has issued another profits warning, stating that consumer uncertainty and “elevated levels of promotional activity” have resulted in “extremely difficult” trading conditions. The company now expects full-year underlying pre-tax profits of between £50m-£60m. Reported sales in the 19 weeks to June 8 were up 3.8%, while constant-currency sales were ahead 1.9%. However, like-for-like sales were down by 1.1% on a reported basis and by 2.9% at constant currency rates. Both retail and wholesale gross margins are lower than last year.

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