The noise
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Chancellor Jeremy Hunt announced a package of major reforms to the UK's financial sector in an attempt to 'turbocharge' growth. The package known as the Edinburgh Reforms is wide-ranging and encompasses changes in tax rules to plans for a potential new central bank currency.
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China's consumer inflation slowed further in November as it fell below 2% for the first time since March. In figures released by the National Bureau of Statistics, the Consumer Price Index, rose 1.6% year-on-year in November, down from 2.1% in October, according to the National Bureau of Statistics. Widespread lockdowns as a consequence of Covid-19 hampered spending and economic growth was subdued.
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Royal Mail workers began their wave of Christmas strikes this week as they dispute pay and working conditions. Up to 115,000 workers are involved, hitting deliveries with customers being advised to post Christmas mail earlier than usual as mail piles up. Royal Mail, in an attempt to compete within the profitable parcel delivery sphere announced plans to cut up to 10,000 jobs at a time when it is losing £1million on a daily basis.
The numbers
The nuance
Equity markets paused their recent rally this week as investors started to look towards next weeks Federal reserve decision on interest rates and an update on how consumer prices are responding to tighter monetary policy. While it is possible for a good inflation print to show a further moderation of inflation and provide the fuel for a further Santa Claus rally, there is also potential for inflation prove to be sticky which in short term would put valuations under pressure. We remain patient and disciplined, looking to adjust exposures as the business cycle evolves and valuations permit.
Quote of the week
“£7. It was the going rate for that type of thing. It had 4.5 star reviews.”
Disgruntled Secret Santa Participant
You either love or hate taking part in a Secret Santa. Chances are you'll get something totally naff you don't need from someone you don't know very well - but all in all it's usually good fun. A woman was in disbelief after she received a Secret Santa gift from a colleague in the post, but it was far from what she ordered.
Hoping to spread the festive spirit with a handy gadget, a woman jumped on the popular trend of purchasing a nose-shaped glasses holder. However, she revealed in a post on Mumsnet that she was shocked when she received the "terrible" gift in the post. Captioning the post, they wrote: "Secret Santa - This shocking right?"
She explained: "Work's Secret Santa. Ordered two gifts, one was a holder for glasses. Described as 'handmade from authentic durable Indian Shisham wood’. "Erm... Not even close," she added beside a laughing emoji.
Sharing photo side by side, the anonymous woman revealed her dismay after the advertised product was no comparison to what she had originally received
Source: atomos, The Mirror