Brexit deal hurting UK-EU items commerce, and it is getting worse
Pink tape on British companies created by the Brexit commerce deal has led to a pointy fall in UK-EU items commerce, a brand new report reveals.
Teachers at Aston Enterprise Faculty have analysed the impression of the Commerce and Cooperation Settlement (TCA) on UK-EU commerce relations – and located that commerce is down by over 1 / 4.
They are saying:
The findings reveal a pointy decline in each UK exports and imports with the EU, underscoring the enduring challenges posed by Brexit on the UK’s commerce competitiveness.
Between 2021 and 2023, month-to-month knowledge present a 27% drop in UK exports and a 32% discount in imports to and from the EU, the report reveals.
It additionally reveals there was a big discount within the vary of products the UK trades with the EU, because of the “profound and ongoing stifling” results of the TCA.
This features a “vital decline” in client items exports to the EU and corresponding UK imports, which suggests the UK is dropping out of EU worth chains.
Nonetheless, the UK stays depending on the EU for intermediate and capital items.
And worryingly, these issues are anticipated to accentuate.
The report says:
The examine highlights that the destructive impacts of the TCA have intensified over time, with 2023 displaying extra pronounced commerce declines than earlier years. This implies that the transition in UK-EU commerce relations post-Brexit isn’t merely a short-term disruption however displays deeper structural modifications more likely to persist.
The important thing drawback is that the TCA, agreed on Christmas Eve 202 by Boris Johnson’s authorities, has created many non-tariff measures (NTMs) – equivalent to checks on items – which have gummed up the circulation of commerce.
Agriculture and meals merchandise exports have been notably impacted, the report reveals.
Final night time, we reported that deliberate post-Brexit checks on fruit and greens introduced into Britain from the EU have been delayed for the third time, amid issues from suppliers that they might result in increased costs for consumers.
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Root and tubercle greens (not together with ware or seed potatoes): Yams, beets, parsnips, turnips, rutabagas, carrots, yuca, kohlrabi, onions, garlic, celery root.
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Fruit of Fragaria L: Strawberries
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Fruits of Malus Mill: Apples
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Fruits of Persea americana Mill: Avocado
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Fruits of Pyrus L: Pear
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Fruit of Vaccinium L: cranberry, blueberry, bilberry (whortleberry), lingonberry (cowberry), and huckleberry.
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Fruit of Rubus L: Raspberries, blackberries, and dewberries
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The change ought to imply there gained’t be further friction on the border when these fruit and greens are imported to the UK.
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Jack reported final night time that the deliberate post-Brexit checks on fruit and greens introduced into Britain from the EU have been delayed for the third time, till subsequent July, so ministers can choose the impression of the brand new guidelines.
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The future of shipmaker Harland & Wolff remains uncertain today, after the company announced on Monday it expects to fall into administration soon.
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The company’s interim executive chairman Russell Downs has said there is a strong case for keeping the company’s four shipyards under a single owner.
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He told the BBC’s Today programme that keeping the yards together was “sensible from an operating perspective”.
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He added:
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“Some yards may be owned by one owner with other yards owned by another, so we’ll just have to see where the process gets to.”
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Downs said all the yards currently have work ongoing, and a “strong and capable business plan”, that will see them flourish again in future, once the current financial difficulties have been overcome.
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After months of fraught negotiations as Harland & Wolff scrambled to find funding to upgrade the shipyards, the company announced yesterday that it is insolvent and expects to appoint administrators from Teneo soon.
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Red tape on British businesses created by the Brexit trade deal has led to a sharp fall in UK-EU goods trade, a new report shows.
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Academics at Aston Business School have analysed the impact of the Trade and Cooperation Agreement (TCA) on UK-EU trade relations – and found that trade is down by over a quarter.
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They say:
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The findings reveal a sharp decline in both UK exports and imports with the EU, underscoring the enduring challenges posed by Brexit on the UK’s trade competitiveness.
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Between 2021 and 2023, monthly data show a 27% drop in UK exports and a 32% reduction in imports to and from the EU, the report shows.
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chart displaying UK commerce”,”credit score”:”{Photograph}: Aston Enterprise Faculty”}},{“_type”:”mannequin.dotcomrendering.pageElements.TextBlockElement”,”html”:”
It additionally reveals there was a big discount within the vary of products the UK trades with the EU, because of the “profound and ongoing stifling” results of the TCA.
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This features a “vital decline” in client items exports to the EU and corresponding UK imports, which suggests the UK is dropping out of EU worth chains.
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Nonetheless, the UK stays depending on the EU for intermediate and capital items.
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And worryingly, these issues are anticipated to accentuate.
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The report says:
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n
The examine highlights that the destructive impacts of the TCA have intensified over time, with 2023 displaying extra pronounced commerce declines than earlier years. This implies that the transition in UK-EU commerce relations post-Brexit isn’t merely a short-term disruption however displays deeper structural modifications more likely to persist.
n
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The important thing drawback is that the TCA, agreed on Christmas Eve 202 by Boris Johnson’s authorities, has created many non-tariff measures (NTMs) – equivalent to checks on items – which have gummed up the circulation of commerce.
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Agriculture and meals merchandise exports have been notably impacted, the report reveals.
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Final night time, we reported that deliberate post-Brexit checks on fruit and greens introduced into Britain from the EU have been delayed for the third time, amid issues from suppliers that they might result in increased costs for consumers.
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Elsewhere in the tech sector, Amazon has announced it would require employees to return to the office five days a week, from the start of next year.
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Andy Jassy, Amazon’s CEO, said in a note to employees.
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n
“We’ve decided that we’re going to return to being in the office the way we were before the onset of COVID. When we look back over the last five years, we continue to believe that the advantages of being together in the office are significant.”
n
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The e-commerce giant’s previous office attendance requirement for its workers was three days a week. Amazon workers can claim “extenuating circumstances” or request exceptions from senior leadership, according to Jassy’s memo.
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n
“If anything, the last 15 months we’ve been back in the office at least three days a week has strengthened our conviction about the benefits.”
n
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He cited improved collaboration and connection between teams as reasons for the new requirement as well as the ability to “strengthen our culture”.
“,”elementId”:”b6da4d05-08ac-4564-a67b-a9b9299d1969″},{“_type”:”model.dotcomrendering.pageElements.RichLinkBlockElement”,”prefix”:”Related: “,”text”:”Amazon mandates five days a week in office starting next year”,”elementId”:”3398b47f-26e0-4d6c-ac9c-7484e341a96b”,”role”:”thumbnail”,”url”:”https://www.theguardian.com/technology/2024/sep/16/amazon-in-person-office-policy”}],”attributes”:{“pinned”:false,”keyEvent”:true,”abstract”:false},”blockCreatedOn”:1726554350000,”blockCreatedOnDisplay”:”02.25 EDT”,”blockLastUpdated”:1726554503000,”blockLastUpdatedDisplay”:”02.28 EDT”,”blockFirstPublished”:1726554504000,”blockFirstPublishedDisplay”:”02.28 EDT”,”blockFirstPublishedDisplayNoTimezone”:”02.28″,”title”:”Amazon mandates 5 days per week in workplace beginning subsequent yr”,”contributors”:[],”primaryDateLine”:”Tue 17 Sep 2024 06.12 EDT”,”secondaryDateLine”:”First printed on Tue 17 Sep 2024 02.25 EDT”},{“id”:”66e910588f08f5de71dc2633″,”components”:[{“_type”:”model.dotcomrendering.pageElements.TextBlockElement”,”html”:”
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
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It’s a tale of two tech companies this morning, as Microsoft announces a monster cash return to shareholders… and Apple is hit by fears of weak demand for its new iPhone 16.
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Microsoft surprised Wall Street last night by unveiling a new $60bn (£45bn) stock-buyback program – a way of returning excess cash to investors – and raising its quarterly dividend by 10%.
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The plan matches Microsoft’s largest ever share buyback plan, according to Bloomberg.
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The scale of the move was unexpected, as Microsoft has been ramping up its investment to support artificial intelligence. The company had also disappointed shareholders at the end of July when it reported a slight slowdown in growth at its Azure cloud computing arm.
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Its net income in the last year rose 22%, to $88bn, leaving it with over $75bn of cash on its books.
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Microsoft is currently the world’s second largest company, worth around $3.2tn, behind Apple (at $3.3tn).
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That gap narrowed yesterday, as Apple’s shares fell by 2.8% following analyst report that demand for the iPhone 16 was weaker than hoped.
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Early pre-order data from BofA Global Research revealed shorter global shipping times for the iPhone 16 Pro models compared with last year’s 15 Pro models, in the first three days of pre-order sales.
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TF International Securities’ analyst Ming-Chi Kuo calculated that pre-order sales for the iPhone 16 are around 12.7% lower than for last year’s iPhone 15.
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Having analysed data on pre-order sales, delivery times and shipments, Kuo explained in a post on Medium:
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The key factor is the lower-than-expected demand for the iPhone 16 Pro series.
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Apple Shares Slump as Analyst Warns of Weaker iPhone 16 Demand https://t.co/QtI8oyQ9xK
— BNN Bloomberg (@BNNBloomberg) September 16, 2024
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However, not every analyst was concerned by the lack of meaningful growth in iPhone pre-orders.
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D.A. Davidson analyst Gil Luria points out that the phone’s AI features are being rolled out gradually.
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… which means the upgrade cycle will likely materialize over the next 12-18 months.”
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The agenda
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10am BST: ZEW index of German economic confidence
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1.30pm BST: US retail sales for August
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2.15pm BST: US industrial production for August
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3pm BST: NAHB index of US housing market
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Key occasions
Some snap response to the weak ZEW survey of German financial sentiment:
Ouch. Ouch. Ouch. Oh pricey God, Germany. Financial expectations considerably lowered once more. [ZEW 3.6 vs 17.0 expected; prior 19.2]. Germany is in such deep bother, it is actually surprising.
— Marc-André Fongern (@Fongern_FX) September 17, 2024
German investor morale tumbles greater than anticipated in September
Hopes of a restoration in Germany’s financial system are fading, in keeping with the most recent ballot of investor sentiment.
In a reminder that each one isn’t rosy throughout the channel, the ZEW indicator of financial sentiment for Germany has fallen to only 3.6 factors, down from 19.2 factors in August. That’s the bottom studying since final October.
The survey discovered that financial optimism has “nearly utterly dwindled”, whereas buyers’ evaluation of the financial scenario in Germany additionally worsened.
ZEW president professor Achim Wambach says:
“The hope for a swift enchancment within the financial scenario is visibly fading.
Within the newest survey, we as soon as once more observe a noticeable decline in financial expectations for Germany. The variety of optimists and pessimists is now evenly balanced.”
Germany’s financial system is on the point of recession, after shrinking barely within the second quarter of the yr. Excessive power prices have hit its industrial base, which can also be struggling to manage from competitors from Chinese language carmakers.
Netflix’s Sarandos defends Child Reindeer
Mark Sweney
Netflix co-chief Ted Sarandos has defended Child Reindeer, which is the topic of a £133m ($170m) legislation go well with filed by the real-life lady portrayed because the stalker within the hit present, saying that it’s “abundantly clear” that it’s a dramatised story.
The black comedy-drama, which picked up six Emmy awards on Sunday night time, has grow to be one in every of Netflix’s largest hits of all time.
The collection is the account of creator and star Richard Gadd, who performs the lead position of comic Donny Dunn, and his expertise with a stalker often known as “Martha”.
Following the debut of the collection, which opens with the road “This can be a true story”, Fiona Harvey got here ahead figuring out herself because the “actual Martha”.
Harvey has filed a lawsuit in California towards Netflix alleging defamation, intentional infliction of emotional misery, negligence, gross negligence and violations of her proper of publicity.
“We’re facilitating story tellers to inform their tales,” stated Sarandos, talking on the Royal Tv Society convention in London this morning.
“That is Richard’s true story. Child Reindeer is his story, he informed his story, it’s not a documentary.”
In an interview with journalist and author Kirsty Wark he was requested if the controversy about Netflix labelling Child Reindeer as a “true story” may result in the streamer having a “stronger editorial grip”.
Within the present, Gadd’s stalker was imprisoned. In actual life, the alleged stalker says she has obtained no conviction.
“There are components of the story which might be dramatised,” stated Sarandos.
“It’s abundantly clear that there’s dramatisation concerned. This debate [about Baby Reindeer’s status as a true story] isn’t occurring anyplace else in thew world. Simply the UK.”
In his Emmy awards acceptance speech on Sunday, Gadd urged aspiring writers to “take dangers”.
“The one fixed throughout any success in tv is sweet storytelling,” he informed the viewers.
“Good storytelling speaks to our occasions… take dangers, push boundaries, discover the uncomfortable, dare to fail so as to obtain.”
On Tuesday, Sarandos stated that Netflix has simply accomplished a “first look” take care of Gadd for his subsequent tasks.
Final week, a federal choose within the US set the trial date for the Child Reindeer case for six Might subsequent yr.
Revealed: the EU fruit and vegetable imports reduce to ‘low danger’
The UK authorities has downgraded the chance ranking on quite a lot of fruit and greens from the EU and Switzerland, which means they are often imported with none checks or expenses even as soon as delayed checks lastly are available in.
And my colleague Jack Simpson has the listing, full with translations from Latin (for the advantage of any outdated Etonians studying.)
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Root and tubercle greens (not together with ware or seed potatoes): Yams, beets, parsnips, turnips, rutabagas, carrots, yuca, kohlrabi, onions, garlic, celery root.
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Fruit of Fragaria L: Strawberries
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Fruits of Malus Mill: Apples
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Fruits of Persea americana Mill: Avocado
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Fruits of Pyrus L: Pear
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Fruit of Vaccinium L: cranberry, blueberry, bilberry (whortleberry), lingonberry (cowberry), and huckleberry.
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Fruit of Rubus L: Raspberries, blackberries, and dewberries
The change ought to imply there gained’t be further friction on the border when these fruit and greens are imported to the UK.
Jack reported final night time that the deliberate post-Brexit checks on fruit and greens introduced into Britain from the EU have been delayed for the third time, till subsequent July, so ministers can choose the impression of the brand new guidelines.
The UK authorities should search “helpful alignment” with the EU to beat the hurdles hurting commerce, says Tom Brufatto, director of coverage at marketing campaign group Greatest for Britain.
Following Aston College’s warning that UK exports to the EU are 17% decrease than if Brexit had not occurred, whereas imports are 23% decrease, Brufatto says:
“This report reinforces the truth that the UK financial system will proceed to undergo so long as the pointless commerce obstacles contained within the TCA stay in place.”
“The brand new Authorities should make each effort to introduce helpful regulatory alignment with our largest and closest market within the EU, to take away these obstacles, cut back prices and unlock a lot wanted financial development.”
The findings of this morning’s report into UK-EU commerce ought to put extra strain on the federal government to make Brexit work higher.
Lead creator of the report, Professor Jun Du of Aston College, says:
“The Commerce and Cooperation Settlement launched substantial obstacles and there are ongoing and marked declines within the worth and number of UK exports and imports.
With out pressing coverage interventions, the UK’s financial place and place within the world market will proceed to weaken.”
Prime minister Keir Starmer has insisted that the UK is not going to rejoin both the EU, the only market or the customs union inside his lifetime.
However, Starmer has aso steered higher buying and selling agreements than “the botched deal we received below Boris Johnson” may very well be achieved:
EU fee president Ursula von der Leyen has named Spain’s ecological transition minister Teresa Ribera because the bloc’s subsequent antitrust commissioner.
This can be a essential place inside the EU; Ribera will succeed Margrethe Vestager, who challenged Large Tech firms for his or her anti-competitive practices, culminating with courtroom wins towards Apple and Google final week.
The UK’s departure from the EU has launched a collection of challenges for the car trade, Aston Enterprise Faculty’s report flags.
That features new tariffs on elements that fail to fulfill Europe’s guidelines of origin (RoO) necessities, customs delays, and better administrative prices.
As we speak’s report says:
These points are notably problematic for the automotive sector, the place just-in-time manufacturing processes are extremely weak to elevated prices and delays, which may trigger disruptions all through your complete provide chain.
Right here’s Peter Foster, the FT’s public coverage editor, on right now’s UK-EU commerce report:
As we speak’s report into UK-EU commerce reveals how Britain’s prescribed drugs trade has suffered from regulatory divergence points since Brexit.
Previous to Brexit, UK prescribed drugs have been licensed for EU sale below a unified regulatory framework. Nonetheless, the UK’s withdrawal below the TCA has launched “substantial commerce and regulatory obstacles which have deeply impacted the sector,” the report says.
The separation of drugs authorisation into distinct methods – one for the EU, and one other for Nice Britain and the UK, has led to further necessities for functions, processes, and labelling.
The report explains:
As an illustration, whereas the mutual recognition of manufacturing certificates is agreed within the TCA [the Trade and Cooperation Agreement, or Brexit deal], the EU not recognises medication batches examined within the UK as legitimate on the market inside the single market, nor does it recognise the professionals overseeing these processes.
UK pharmaceutical companies now require separate certifications for each the UK and EU markets, leading to elevated prices and delays.
H&W boss: ‘Robust case’ to maintain shipyards collectively
The way forward for shipmaker Harland & Wolff stays unsure right now, after the corporate introduced on Monday it expects to fall into administration quickly.
The corporate’s interim government chairman Russell Downs has stated there’s a sturdy case for conserving the corporate’s 4 shipyards below a single proprietor.
He informed the BBC’s As we speak programme that conserving the yards collectively was “smart from an working perspective”.
He added:
“Some yards could also be owned by one proprietor with different yards owned by one other, so we’ll simply must see the place the method will get to.”
Downs stated all of the yards at the moment have work ongoing, and a “sturdy and succesful marketing strategy”, that can see them flourish once more in future, as soon as the present monetary difficulties have been overcome.
After months of fraught negotiations as Harland & Wolff scrambled to search out funding to improve the shipyards, the corporate introduced yesterday that it’s bancrupt and expects to nominate directors from Teneo quickly.
Shares in Intel are up 8% in after-hours buying and selling after it secured a deal to make customized synthetic intelligence chips for Amazon.
CEO Pat Gelsinger introduced the deal – below which Intel will produce an “synthetic intelligence cloth chip” for Amazon Internet Companies – in a memo to workers final night time.
Gelsinger additionally stated Intel was greater than midway to hitting its goal of 15,000 job cuts by the tip of this yr, warning:
We nonetheless have tough selections to make and can notify impacted staff in the course of October.
Shares have opened increased throughout Europe, as buyers anticipate a long-awaited reduce to US rates of interest tomorrow.
In London, the FTSE 100 share index has jumped by 61 factors, or 0.75%, to 8338 factors. Financials, power and healthcare are the best-performing sectors.
France’s CAC 40 index rose 0.5% on the open, with Germany’s DAX up 0.3%.
Enrique Diaz-Alvarez, chief economist at world monetary companies agency Ebury, says:
“The upcoming determination by the Federal Reserve stands on a knife’s edge, with the market nearly evenly break up on whether or not the reducing cycle will begin on a 25bp reduce or a 50bp one.
Market expectations for a jumbo reduce have risen relentlessly over the previous few days on little information aside from statements from former Fed officers like William Dudley and are actually at above 60%.
Demand for big-ticket objects stays weak, retailer Kingfisher has warned this morning – one thing which is not going to please the expertise sector.
Kingfisher, which owns varied DIY chains together with B&Q and Castorama, has reported a 2.4% drop in like-for-like gross sales at its shops within the six months to the tip of July.
Kingfisher says it has seen a:
Restoration in seasonal gross sales since early July and weak ‘big-ticket’ gross sales as anticipated.
Comparable gross sales dipped barely within the UK and Eire, however tumbled by over 7% in France – which Kingfisher says is “broadly in step with the market”.
It additionally reported a 2.3% rise in pre-tax income, and lifted its estimate for adjusted pre-tax income this yr to £510m to £550m, from £490m-£550m earlier than.
Shares in Kingfisher have jumped 6.5% at the beginning of buying and selling.
Brexit deal hurting UK-EU items commerce, and it is getting worse
Pink tape on British companies created by the Brexit commerce deal has led to a pointy fall in UK-EU items commerce, a brand new report reveals.
Teachers at Aston Enterprise Faculty have analysed the impression of the Commerce and Cooperation Settlement (TCA) on UK-EU commerce relations – and located that commerce is down by over 1 / 4.
They are saying:
The findings reveal a pointy decline in each UK exports and imports with the EU, underscoring the enduring challenges posed by Brexit on the UK’s commerce competitiveness.
Between 2021 and 2023, month-to-month knowledge present a 27% drop in UK exports and a 32% discount in imports to and from the EU, the report reveals.
It additionally reveals there was a big discount within the vary of products the UK trades with the EU, because of the “profound and ongoing stifling” results of the TCA.
This features a “vital decline” in client items exports to the EU and corresponding UK imports, which suggests the UK is dropping out of EU worth chains.
Nonetheless, the UK stays depending on the EU for intermediate and capital items.
And worryingly, these issues are anticipated to accentuate.
The report says:
The examine highlights that the destructive impacts of the TCA have intensified over time, with 2023 displaying extra pronounced commerce declines than earlier years. This implies that the transition in UK-EU commerce relations post-Brexit isn’t merely a short-term disruption however displays deeper structural modifications more likely to persist.
The important thing drawback is that the TCA, agreed on Christmas Eve 202 by Boris Johnson’s authorities, has created many non-tariff measures (NTMs) – equivalent to checks on items – which have gummed up the circulation of commerce.
Agriculture and meals merchandise exports have been notably impacted, the report reveals.
Final night time, we reported that deliberate post-Brexit checks on fruit and greens introduced into Britain from the EU have been delayed for the third time, amid issues from suppliers that they might result in increased costs for consumers.
Microsoft’s $60bn share buyback programme is the third-largest introduced by any US firm this yr, Marketwatch studies.
The one firms to announce larger share-repurchase authorizations up to now this yr are Apple ($100bn) and Alphabet ($70bn).
Chipmaker Nvidia and Fb-owner Meta have each introduced $50bn buybacks this yr.
On the opposite aspect of the coin, although, Microsoft will nonetheless be one of many lowest-yielding shares on the Dow Jones industrial common, even after elevating its dividend by 10%.
Tech companies have historically paid decrease dividends than common, specializing in utilizing their money to gasoline development and pay for acquisitions (though such massive share buybacks reveals they’re strugging to tug this off).
Amazon mandates 5 days per week in workplace beginning subsequent yr
Elsewhere within the tech sector, Amazon has introduced it might require staff to return to the workplace 5 days per week, from the beginning of subsequent yr.
Andy Jassy, Amazon’s CEO, stated in a notice to staff.
“We’ve determined that we’re going to return to being within the workplace the best way we have been earlier than the onset of COVID. After we look again during the last 5 years, we proceed to consider that some great benefits of being collectively within the workplace are vital.”
The e-commerce big’s earlier workplace attendance requirement for its staff was three days per week. Amazon staff can declare “extenuating circumstances” or request exceptions from senior management, in keeping with Jassy’s memo.
“If something, the final 15 months we’ve been again within the workplace a minimum of three days per week has strengthened our conviction about the advantages.”
He cited improved collaboration and connection between groups as causes for the brand new requirement in addition to the power to “strengthen our tradition”.
Introduction: Microsoft declares $60bn buyback; Apple hit by iPhone demand worries
Good morning, and welcome to our rolling protection of enterprise, the monetary markets and the world financial system.
It’s a story of two tech firms this morning, as Microsoft declares a monster money return to shareholders… and Apple is hit by fears of weak demand for its new iPhone 16.
Microsoft stunned Wall Road final night time by unveiling a brand new $60bn (£45bn) stock-buyback program – a manner of returning extra money to buyers – and elevating its quarterly dividend by 10%.
The plan matches Microsoft’s largest ever share buyback plan, in keeping with Bloomberg.
The dimensions of the transfer was surprising, as Microsoft has been ramping up its funding to help synthetic intelligence. The corporate had additionally dissatisfied shareholders on the finish of July when it reported a slight slowdown in development at its Azure cloud computing arm.
Its internet earnings within the final yr rose 22%, to $88bn, leaving it with over $75bn of money on its books.
Microsoft is at the moment the world’s second largest firm, price round $3.2tn, behind Apple (at $3.3tn).
That hole narrowed yesterday, as Apple’s shares fell by 2.8% following analyst report that demand for the iPhone 16 was weaker than hoped.
Early pre-order knowledge from BofA International Analysis revealed shorter world delivery occasions for the iPhone 16 Professional fashions in contrast with final yr’s 15 Professional fashions, within the first three days of pre-order gross sales.
TF Worldwide Securities’ analyst Ming-Chi Kuo calculated that pre-order gross sales for the iPhone 16 are round 12.7% decrease than for final yr’s iPhone 15.
Having analysed knowledge on pre-order gross sales, supply occasions and shipments, Kuo defined in a put up on Medium:
The important thing issue is the lower-than-expected demand for the iPhone 16 Professional collection.
Nonetheless, not each analyst was involved by the shortage of significant development in iPhone pre-orders.
D.A. Davidson analyst Gil Luria factors out that the telephone’s AI options are being rolled out step by step.
… which implies the improve cycle will seemingly materialize over the following 12-18 months.”
The agenda
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10am BST: ZEW index of German financial confidence
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1.30pm BST: US retail gross sales for August
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2.15pm BST: US industrial manufacturing for August
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3pm BST: NAHB index of US housing market
