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“If we do not receive a timely response to all of our demands, we instruct chapel reps to place this matter into dispute and take such steps as may be necessary, up to and including balloting for industrial action.”. Nikkei said in a statement it was very satisfied with the growth of the newspaper under Ridding and his team, and the success of the FT-Nikkei partnership. “We respect and support his proposal to adjust his remuneration to refocus attention on the FT’s mission,” it said.
ZURICH (Reuters) - Swiss authorities have halted registrations of some new Mercedes-Benz (DAIGn.DE) Vito and Porsche (PSHG_p.DE) Macan and Cayenne red ribbed enamel cufflinks vehicles which had diesel engines that disguised emissions levels, the Astra roads agency said on Wednesday, The move will affect vehicles imported from Aug, 17, Vehicles already registered in Switzerland may continue to operate, but must be retrofitted, Astra said in a statement, Mercedes Vitos with 1.6-litre diesel engines, Porsche Macans with 3-litre diesel engines and Cayennes with 4.2-litre diesel engine are affected by the action, All have Euro 6 emission norms, which refers to the emissions standards these engines are required to meet..
(Reuters) - U.S. stock indexes fell sharply on Wednesday, hurt by concerns over a stronger dollar and Turkey’s currency crisis, as well as over the trade tensions with U.S. trading partners that have dominated the first half of 2018. The dollar hit a fresh 13-month high before retreating, and MSCI’s widely tracked 24-country emerging market stocks index .MSCIEF entered a technical bear market. WILLIE DELWICHE, INVESTMENT STRATEGIST AT BAIRD IN MILWAUKEE. “Maybe lingering global uncertainty is a catalyst, but you also have beneath the surface things that are starting to roll over and fall apart a little bit.
“The S&P and the move higher yesterday didn’t go anywhere and so I think from a short-term perspective it left the market vulnerable to weakness this morning, Moving below 2820 on the S&P invited more short-term selling and it starts to build on itself, Since the U.S, market opened, I think what you’re seeing is more a flight to safety and a desire from investors to de-risk a bit.”, “It’s the chicken and egg problem, are the emerging markets and their currencies weak or is it the dollar that’s strong? Turkey is weak, that’s the spectacular one, but currencies across the board have moved since March, So have the red ribbed enamel cufflinks rules of the game changed in the sense that it’s clear that the Trump administration was not afraid of having a trade war and they weren’t shy about using the dollar as a tool? The dollar has strengthened across the board since then, not just the emerging markets.”..
“If there’s a new conception of the rules being changed, then we could see trade problems and dollar strength for a long while. That makes all this dollar denominated debt that’s built up over the last decade harder to finance. The stronger the dollar gets the more urgent are the dollar purchases.”. KEITH LERNER, CHIEF MARKET STRATEGIST, SUNTRUST ADVISORY SERVICES, ATLANTA. “Right now, the overall sentiment, especially toward emerging markets, is fragile, and then you have the strong dollar, which is adding to uncertainty. The main story today is the China market getting hit. China is really the gorilla of emerging markets; more than 30 percent is in China. Why China seems to be getting hit is apparently a freeze on gaming licenses, which is hitting technology.”.
“Our position on emerging markets is neutral, The reason we’re not becoming more bearish: from the high made in January, emerging markets are down about 20 percent, Historically, the average drawdown in emerging markets is 21 percent per year, We’re close to that today already, Valuations are now at the cheapest they’ve been since 2016.”, “In the U.S., mainly what we’re seeing is a spillover effect from emerging markets, But taking that into context, red ribbed enamel cufflinks small caps yesterday made an all-time high, and the S&P is about 2 percent below an all-time high, So in context, the market has had a really nice run since late June.”..
“On the negative side, the U.S. dollar strength is just going to make it more difficult for emerging markets. Potentially down the road it could be an issue for multinationals in the U.S. The earnings story has been a big part of the bull market case. I don’t think we’re there yet, but the more (the dollar) goes up, the greater risk there is that it seeps into earnings.”. PETER CECCHINI, MANAGING DIRECTOR AND CHIEF MARKET STRATEGIST AT CANTOR FITZGERALD IN NEW YORK. “We’re in the midst of a change in the global rates regime. Developed market rates are going higher and emerging markets currency devaluations are something of a tremor, and we’re going to see more of bouts of unexplained volatility and that is part and parcel of repricing of global risk.”.
“The changing rate backdrop will impact currencies, which in turn will impact inflation in emerging markets and the U.S., with red ribbed enamel cufflinks stronger dollar impacting the ability of the U.S, companies to maintain profit margins.”, “In our view, the S&P will not make new highs for the year and the reason for that is around rates, dollar headwinds and instability in emerging markets.”, “What was interesting today was Tencent’s miss, you see how vulnerable some of these big global tech names are to a miss in earnings, Over time, the breadth of the market tends to narrow, you have smaller leadership groups and once they begin to rollover, which perhaps Tencent is telling us what is about to happen, that the broader markets have a more of a reason to selloff.”..