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International Logistics
CIPS International learning
Killexams : CIPS International learning - BingNews https://killexams.com/pass4sure/exam-detail/A9 Search results Killexams : CIPS International learning - BingNews https://killexams.com/pass4sure/exam-detail/A9 https://killexams.com/exam_list/CIPS Killexams : Why we have to invest now in commercial capability

With the government’s Public Procurement Bill now taking its first steps through parliament, the focus is shifting towards ensuring the whole public sector has the skills and support it needs to realise the benefits that reform can bring. 

The bill sets out a number of ambitions with the ultimate aim of creating a more flexible, commercial system to meet the country’s needs while remaining compliant with our international obligations. 

The government plans to take advantage of the UK’s exit from the EU to streamline the number of rules currently in place, replacing them with a single regime, reducing administration costs and encouraging innovation.

There will be increased transparency in the publication schedule for procurement notices, extending from planning to termination and including contract performance, more opportunities for meaningful pre-market engagement and negotiation, and new powers to tackle underperforming suppliers and protect national security.

And the lessons of the last two years will be learned, with new processes for periods of crisis that retain flexibility while increasing competition and reducing reliance on direct awards.

Each of these changes will require a shift in how public sector buyers think and act, supported by training and guidance that can speak to the wide range of experience and expertise that exists across the whole public sector.

At the Crown Commercial Service (CCS), we’re already preparing for the public procurement landscape of the future. 

Recognising diversity of experience

It’s crucial to remember that there is no single, easily quantifiable ‘public sector buyer’. The local government, health, and education sectors each contain a myriad of unique challenges for commercial capability.

Not all public sector procurement professionals would even recognise themselves as such. Many of our customers tell us that buying is just one of many tasks they, as individuals, are required to do - albeit one that requires unique skills. 

It’s why we at CCS have been publishing regular, easy to digest best practice guidance in the shape of our Procurement Essentials series, aimed at explaining common principles and concepts of procurement to public sector buyers who may not have a background in the profession.

It’s also why we’ve been investing in contract management training for hundreds of local government workers through our Contract Management Pioneer Programme. 

The programme is funded by CCS and the Local Government Commercial Team in the Department for Levelling Up, Housing and Communities, in collaboration with the Local Government Association. Training is provided by the Government Commercial Function through the Government Commercial College. 

Embedding the changes of the Public Procurement Bill

Long-term planning for skills development will be essential if we’re to ensure that the public sector is ready to maximise the benefits of changes to public procurement practice the Government is planning for the coming years.

There will be new kinds of framework and new digital platforms to master, and greater consideration will have to be made of the opportunities to increase social value, carbon net zero, and to reserve opportunities for UK suppliers, SMEs, and social enterprises.

A programme of learning and development is therefore being developed by the Government Commercial Function, combining knowledge drops, communities of practice, e-learning modules, and more intensive courses.

Whatever form the final legislation takes, commercial teams across the public sector will be able to access the learning and development support they need to maximise the benefits of a new, streamlined public procurement regime.

☛ Simon Tse is chief executive officer at CCS

Mon, 18 Jul 2022 05:21:00 -0500 text/html https://www.cips.org/supply-management/opinion/2022/july/why-we-have-to-invest-now-in-commercial-capability/
Killexams : Space Foundation Accepting Applications for International Teacher Liaison Program
Space Foundation Accepting Applications for International Teacher Liaison Program

Space Foundation

Space Foundation

Space Foundation, a nonprofit advocate organization founded in 1983 for the global space ecosystem, today announced that it is accepting applications for the organization’s International Teacher Liaison Program Flight 20-23 class now through Sept. 30, 2022.

Launched in 2004, this prestigious, internationally recognized program provides select educators from around the world with new skills, strategies and capabilities to Boost their classroom and student engagement as they nurture the minds of tomorrow’s world-changing adults.

Following an intensive application and evaluation process, a new Teacher Liaison class is announced each year. Upon selection, the new class of Teacher Liaisons is called a “Flight” to denote the teachers’ mission as premier space and STEAM educators.

With more than 300 members located in 18 countries around the world and an annual reach numbering in the tens of thousands of students, Space Foundation International Teacher Liaisons actively collaborate by sharing best practices in their support of one another on their mission to shape the next generation of scientists, engineers, entrepreneurs and explorers.

“Teacher Liaisons are an integral branch of Space Foundation’s Teacher Liaison Coalition (TLC) which provides training, resources and support for teachers around the world,” said Dr. John West, Space Foundation’s VP of Education. “Teacher Liaisons partner directly with Space Foundation to engage students, implement evidence-based teaching practices, and build their confidence and leadership in teaching STEAM concepts through the inspirational lens of space. Because of the unique contributions of Teacher Liaisons, the TLC program ultimately reaches tens of thousands of diverse students and facilitates their burgeoning presence and strong contribution in the STEAM workforce.”

Commenting on the importance of the International Teacher Liaison program, member of Teacher Liaison Flight 19-22 Nonofo Angela Mogopodi of Botswana said, “Space education is almost non-existent in my country, so this opportunity will help pave the way for the upcoming generation.”

The program is open to public, private and homeschool teachers in both informal and formal education. School administrators, principals, specialists, curriculum and instruction developers, as well as others who deliver educational programs to students are also welcomed and encouraged to apply. If chosen for the program, teachers receive Space Foundation training and resources to further integrate space content into their classrooms.

The new flight of Teacher Liaisons will be recognized at Space Foundation’s 38th Space Symposium, to be held April 17-20, 2023, at The Broadmoor in Colorado Springs. In addition to the recognition activities, Teacher Liaisons will participate in special programming at the Symposium via a hybrid in-person and virtual delivery format.

Applications for the International Teacher Liaison program are now being accepted at www.discoverspace.org/education/resources-for-educators/teacher-liaisons/. All submissions are due by Sept. 30, 2022.

About International Teacher Liaison Program

Teacher Liaisons, established in 2004 by Space Foundation and operating under Center for Innovation and Education, is a professional network for an elite group of educators around the world. More than 300 Teacher Liaisons advocate for space education using STEM, non-STEM, and 21st century business and life skills to inspire the next generation of contributors to the global space ecosystem. Space Foundation provides live and virtual training, innovative materials, standards-based lesson plans, and mentoring resources. Teacher Liaisons are selected annually following a formal application process. For more information, please visit www.discoverspace.org/education/resources-for-educators/teacher-liaisons/.

About Center for Innovation and Education

Center for Innovation and Education, a division of Space Foundation, is a lifelong learning provider for the global space ecosystem that offers workforce development and economic opportunity for pre-K-12 and university students, teachers, entrepreneurs, businesses and space professionals. Programs and resources are delivered in person or virtually around the globe. Through its Workforce Development Roadmap of programs and resources, Center for Innovation and Education enhances the outlook and opportunities for careers, jobs and business ventures. To learn more about Center for Innovation and Education, please visit www.spacefoundation.org/cie, and visit www.discoverspace.org to learn more about Space Foundation Discovery Center.

About Space Foundation

Space Foundation is a nonprofit advocate organization founded in 1983, offering a gateway to information, education and collaboration for space exploration and space-to-Earth industries that define the global space ecosystem. Driven by a partnership model, Space Foundation operates three divisions that unite the entire spectrum of stakeholders — business, government, education and local communities — through support from corporate membership, sponsorship, fundraising and grants. Symposium 365 is the premier source for media and events, including Space Symposium and The Space Report. Center for Innovation and Education is a lifelong learning provider. Global Alliance facilitates collaboration around the world. Visit Space Foundation at www.SpaceFoundation.org, and follow us on LinkedIn, Facebook, Instagram, Twitter and YouTube.

All brand names and product names are trademarks or registered trademarks of their respective companies.

Tags: Space Foundation, Center for Innovation and Education, International Teacher Liaison program, STEM education, workforce development, professional development, lifelong learning, STEM, educators, teachers, space technology, space ecosystem, lifelong learning

Media Contacts:

Rich Cooper
Vice President, Strategic Communications & Outreach
Space Foundation
(202) 596-0714
rcooper@spacefoundation.org

Dottie O’Rourke
TECHMarket Communications
(650) 344-1260
SpaceFoundation@techmarket.com

Mon, 25 Jul 2022 11:25:00 -0500 en-US text/html https://spaceref.com/newspace-and-tech/space-foundation-accepting-applications-for-international-teacher-liaison-program/
Killexams : Operations, Project and Supply Chain Management

Graduate destinations

The course prepares you for a career as a professional operations, project or supply chain manager.

Recent recruiters include Accenture, Hilti GB Ltd, John Lewis, Johnson Matthey, KPMG, Manchester Airport Group, Saudi Aramco, and SPS Tech.

View graduate destinations

Tue, 27 Apr 2021 18:43:00 -0500 en text/html https://www.manchester.ac.uk/study/masters/admissions/after-you-apply/operations-project-and-supply-chain-management/
Killexams : MSc Operations, Project and Supply Chain Management / Course details

Course description

Put your organisational skills to the test and learn to help businesses manage the production and delivery of products and services in an increasingly globalised marketplace. Operations management is all about how to organise the production and delivery of products and services.

  • Gain the knowledge and skills to ensure that processes run smoothly, particularly in the face of opportunities and challenges arising from the increasingly global reach of business 
  • Cover the service, manufacturing, public and private sectors, showing how operations management, project management and supply chain management work
  • Opportunity to concentrate on particular aspects of operations management, supply chain management, project management and process improvement
  • Prepare for a career as a professional operations, project or supply chain manager
  • Strong foundation for progression to a PhD or an academic career within the field
  • Opportunity to concentrate on particular aspects of operations management, supply chain management, project management and process improvement, helping towards membership of the Chartered Institute of Purchasing and Supply .

Aims

During the course you will be taking 180 credits in all. The eight taught modules during semester one and two total 120 credits and consists of both compulsory and optional taught units which can be viewed in the list below.

By agreement with the Course Director, one elective unit may be taken from another Masters course - note that all elective units are subject to availability, timetabling constraints and what you have studied previously.

Over the summer period, you will carry out your Research Dissertation, worth 60 credits.  Certain units must be chosen in order to become a member of CIPS, and the dissertation must be on a procurement and supply-related theme. 

Examples of latest dissertation project subjects include:

  • The future green supply chain in the retail industry: a shared value strategic perspective
  • Evaluation of cost performance in inventory management in reverse logistics
  • Using e-procurement to Boost supply chain management practices

Special features

CIPS accreditation

The course is accredited by the Chartered Institute of Purchasing and Supply (CIPS).

On completion of the MSc Operations, Project and Supply Chain Management course, students with three years' work experience in a relevant field of supply chain management can apply to become full members of CIPS.

  • As the course is accredited to CIPS, students with the required work experience will not need to take any further examinations to become full members of CIPS (as long as they have completed the required modules and the dissertation should focus on a procurement and supply related theme as part of the MSc).
  • Students without the required work experience (for example, latest graduates) can take the required modules and dissertation element of the MSc programme and on completion of three years relevant work experience can apply for full membership of CIPS. 
  • We are unable to answer individual enquiries about CIPS membership and you should apply directly to CIPS. Details of membership options can be obtained from the CIPS website .

Coursework and assessment

Assessment across the course units varies, and includes a combination of examinations, course work and group project assessment and presentations, in-class tests and assignments. A dissertation is also undertaken and normally ranges between 12,000 and 25,000 words.

Course unit list

The course unit details given below are subject to change, and are the latest example of the curriculum available on this course of study.

Disability support

Practical support and advice for current students and applicants is available from the Disability Advisory and Support Service. Email: dass@manchester.ac.uk
Sat, 27 Mar 2021 17:19:00 -0500 en text/html https://www.manchester.ac.uk/study/online-blended-learning/courses/07783/msc-operations-project-and-supply-chain-management/course-details/
Killexams : FTSE 100 closes in red to start week as traders fret about global economic picture
  • • FTSE 100 closes about 10 points lower
  • • HSBC, Pearson results please, banking sector advances
  • • UK PMI dips but signs inflationary pressures easing

4.50pm: FTSE closes lower

FTSE 100 closed in the red on Monday as US markets were choppy and traders fretted about the global economic picture ahead of the closely watched Friday jobs number state-side.

The UK's top share index closed down around 10 points, or 0.13%, at 7,413.42 on Monday.

"US markets are kicking off the week in choppy fashion, with indices flittering between positive and negative territory," noted senior market analyst Joshua Mahony from online trading firm IG.

"Earnings season has brought optimism that perhaps market pessimism has been somewhat overdone, yet today has seen data take a nosedive in Europe and China," he added.

"Between the biggest German retail sales decline since 1994, and contraction in manufacturing PMI surveys in China, Italy and Spain, the economic picture remains discouraging for investors.

But he added: "Thankfully the latest US headline and ISM manufacturing surveys point towards relative strength in the region for the time being, with an improved ISM employment element rising to bring hope for Friday’s jobs report."

3.45pm: FTSE hovering

FTSE 100 hovered around opening levels as it approached the close following a mixed open on Wall Street on Monday.

At 3.45pm the lead index was trading 2.54 points lower at 7,420.89, while the broader FTSE 250 was down 67.13 points at 20,098.64.

In the US markets were mixed with the DJIA down 69.67 points at 32,775.46 and the S&P 500 10.37 points lower at 4,120.84. But the tech laden Nasdaq pushed higher, up 7.49 points at 12,398.17.

Global recessionary worries reared their head once more on Monday following China’s weaker than expected PMI numbers which came after disappointing second quarter GDP numbers in the US last week.

Craig Erlam, senior market analyst, UK & EMEA, OANDA commented: "Chinese PMIs dampened the mood as the reopening boost to activity quickly faded. The country was already facing an uphill challenge, to put it mildly, with regards to its growth target this year and the fact that manufacturing activity is slowing again doesn't bode well. While the non-manufacturing survey is much healthier, it also experienced a deceleration last month which further suggests the economy is struggling to get back to full strength."

But, he added: "One positive from the surveys was the improvement in supply chain conditions which should aid the inflation fight around the world. Of course, it is more than just a supply chain problem at this point but every little helps as central banks are forced to hike rates aggressively for fear of inflation becoming entrenched."

2.40pm FTSE 100 retreated from earlier highs following a weak restart on Wall Street.

At 2.40pm the blue chip index was trading up 11.38 points at 7,434.81 while the broader FTSE 250 was 90 points lower at 20,074.

In the US markets fell back, consolidating latest gains, after their three day winning streak last week.

Shortly after the opening bell the DJIA was trading 102.43 points lower at 32,742.70, the S&P 500 was 14.80 points lower at 4,116.74 and the Nasdaq fell 33.50 points to 12,357.19.

Global recessionary worries reared their head once more on Monday following China’s weaker than expected PMI numbers which followed disappointing quarter two GDP numbers in the US last week..

In London, strong results from HSBC and Pearson provided early support offsetting concerns following a further drop in the UK PMI in July.

1.40pm: FTSE 100 holds gains although US seen lower at the open

FTSE 100 held close to session highs in early afternoon trading awaiting the restart on Wall Street today.

At 1.40pm the blue chip index was 36.12 points higher at 7,459.55 although the broader FTSE 250 slipped back into the red trading 41.13 points lower at 20,123.77.

Shares in the US are expected to open lower snapping the three-session winning streak that followed last week's, as-expected, Federal Reserve interest rate hike.

In London, positive results from HSBC Holdings PLC (LSE:HSBA) and Pearson PLC (LSE:PSON) supported the lead index with shares in both up 8% and 10.39% respectively.

Shore Capital analyst Roddy Davidson described Pearson's results as “pleasing.”

“We were pleased to note the positive momentum and growth outlook” from the group adding he “likes Pearson’s growing exposure to and substantial investment in digital products, and its status as a beneficiary of a positive medium-term outlook for global learning spend.” 

He rated the shares a buy.

On the downside XP Power Limited saw its shares tank on Monday after warning on full year results which it said would be at the lower end of current analyst expectations.

Shares in the critical power control solutions slumped 8.72% to 2,775p on the warning which came as the group announced first half results.

James Peters, Chair, commented:

“While underlying demand remained strong across all sectors, a combination of external supply chain factors, which restricted our capacity to deliver to customers, and inflationary pressures have produced a challenging backdrop in the first half.”

“The team is working hard to mitigate these industry-wide challenges, with an improvement in performance in quarter two being sustained into the early weeks of the second half.”

11.30am: FTSE near session highs, US seen opening lower

FTSE 100 held near session highs mid morning boosted by a number of positive corporate updates and despite a fall in the UK PMI.

By 11.30am, the lead index was trading 38.65 points higher at 7,463.33 while the broader FTSE 250 was 11.57 points to the good at 20,176.47.

The S&P Global/CIPS UK PMI fell to 52.1 in July from 52.8 in June, the fall would have been greater but for an upward revision to the survey’s jobs index.

But analysts did take some heart from signs that inflationary pressures may be easing.

US stocks were expected to start the new month lower on Monday, snapping the three-session winning streak that followed last week's, as-expected, Federal Reserve interest rate hike.

Investors look to have shifted focus to worries about a global recession after weak data out of China on Monday and last week's poor US GDP numbers, although latest robust corporate earnings could provide underlying support.

Share prices enjoyed a decent run last week despite news of the surprise drop in US second quarter GDP and the widely expected 75-basis point Fed rate increase, ending a see-saw July positively.

On August 1, however, for the Dow Jones Industrial Average were trading 0.2% lower pre-market, while those for the broader S&P 500 index and the tech-laden Nasdaq-100 both fell 0.3%.

Naeem Aslam, chief market analyst at Avatrade.com, commented: "US futures are trading soft today as traders are digesting the economic numbers out of China. The data has largely disappointed investors. The rebound in the Chinese data, which we saw more recently in Chinese numbers, began to stall, and the evidence of this came in the Chinese Manufacturing PMI number today, which dropped into the contraction territory and printed a practicing of 49 from its previous practicing of 50.2. Investors are blaming the current slowdown in the acidity due to the lockdowns taking place in China."

He added: "If that is the reason, then there is less to worry about as such lockdowns are on the decline, and in the coming weeks, we should see improvement in the economic data. However, if the weakness in the economic numbers isn’t due to the lockdowns but in fact, due to the cautionary tone adopted by corporates in their spending and paying due to the mounting recession fear, then we are looking at a picture that requires a great deal of attention."

"We think that the slowdown is primarily due to the concerns of a potential recession taking place around the globe due to higher inflation and less spending, and it is highly likely that we may well see more evidence on this. Another reason that is also pulling the US futures down today is the hawkish tone adopted by the Fed members. Remember, the Fed increased the interest rate by 75 basis last week, and market players aren’t expecting the Fed to stay that hawkish. However, some comments over the weekend by Fed officials have alarmed investors," Aslam concluded.

Among the corporate earnings due Monday, conglomerate Loews (NYSE:L) Corporation will report before the market opens, while tech firms Pinterest and Activision Blizzard will report after the closing bell.

10.50am: UK PMI falls at fastest rate since May 2020

British manufacturing output fell in July at the fastest rate since May 2020, as factories across Europe struggled with rising costs and slowing demand, according to a survey released on Monday.

The S&P Global/CIPS UK PMI fell to 52.1 in July from 52.8 in June, the fall would have been greater but for an upward revision to the survey’s jobs index.

Martin Beck, Chief Economic Advisor to the EY ITEM Club, said:

“The weakness was relatively broad-based across the survey.”

“New orders fell for a second successive month, while the decline in backlogs of work was the steepest since September 2020.”

“The one bright spot was evidence that inflationary pressures are starting to ease.”

“Manufacturers' input costs rose at the slowest pace since January 2021, following a broad-based fall in commodity prices.”

“The combination of weaker input cost pressures and softer demand meant that companies increased their prices at the slowest pace since last May.”

“The MPC should be heartened by the cooling in inflationary pressures."

"But it's unlikely to have any impact on their thinking for this week's meeting, where a rate rise of at least 25bps is certain and an increase of 50bps is a live possibility."

10.00am: FTSE 100 moves to session highs

FTSE 100 held near session highs boosted by some positive earnings updates and a strong showing in the US on Friday.

At 10.00am the blue chip index was 35.85 points higher at 7,457.57 with the broader FTSE 250 index 34.70 points to the good at 20,199.60.

AJ Bell Investment Director Russ Mould commented:

“The FTSE 100 started the week higher following some relatively positive corporate updates, notably from index heavyweight HSBC,” 

“Profit came in ahead of expectations, if a little below last year’s total as the company was forced to set aside cash to cover bad debts. Driving efficiencies at a supertanker of a business like HSBC is far from easy but the tight control on costs suggests that CEO Noel Quinn and his team are doing a decent job."

“Education publishing specialist Pearson was among the winners on Monday as it stuck with full year guidance and reported a significant increase in profit following stronger sales."

“The increasingly digital-focused company is less exposed to some of the cost pressures facing other types of businesses and this is helping it in the current environment." Mould added.

AIM Listed Wishbone Gold PLC (AIM:WSBN) saw its shares surge 23% after reporting encouraging results at the company's Red Setter Gold-Copper Project in the Patersons Range area in Western Australia.

9.00am: FTSE 100 in buoyant mood

FTSE 100 made a strong start to the week supported by strong gains in the US on Friday and some upbeat corporate news.

At 9.00am the lead index was trading up 29.51 points at 7,452.94 shrugging aside weaker than expected PMI data from China.

Banking stocks were once again in favour as results from HSBC Holdings PLC (LSE:HSBA) brought the curtain down on the sector’s reporting season.


Richard Hunter, Head of Markets at interactive investor, commented the results were rescued by a stronger than expected second quarter.

“ Net profit in the second quarter rose by 62%, strongly above expectations, while Net Interest Income improved by 13%. The Net Interest Margin also strengthened to 1.35% from 1.2%.”

“ Apart from a rising interest rate environment which is beginning to benefit the banks as a whole.”

“HSBC also retains a tight control on costs as it moves towards digitisation, and second quarter operating expenses declined by 5%.”

Shares rose 6.68% to 548p with other banking stocks higher as well, Barclays (+2.5%), Standard Chartered (+1.8%) and NatWest (+1.9%).

Media group, Pearson, topped the FTSE 100 risers with shares up 6.85% after it raised its margin guidance as it reported first half results today.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

Belvoir Group PLC (AIM:BLV) advanced 1% after it said it is performing “well” and in line with management expectations, with revenue boosted by lettings and financial services. 

Revenue for the six months to 30 June 2022 grew by 11% compared with the same period last year, despite 2021 being an "exceptionally strong year" for the property sector, the property franchise and financial services group said in a trading update. 

Shares in AIM listed Nostra Terra, the international oil & gas exploration and production company, surged 10.75% after announcing that the Fouke #2 well has reached payback (recovery of all drilling and drilling-related costs from net cashflow) less than three months from production start-up.

This is considerably ahead of pre-drill expectations due to a combination of higher realised oil prices and a production rate that is 70% greater than originally forecast, the company said.

8.30am: FTSE 100 opens higher, HSBC and Pearson up after results

FTSE 100 shrugged off concerns of weak Chinese PMI data to make a strong start to trading.

At 8.30am the lead index was trading 27.54 points higher at 7,431.47 supported by strength in the banking sector once more after results from HSBC.

China’s PMI fell unexpectedly to 49.0 in July, from 50.2 in the previous month and below forecasts  of 50.4.

Sophie Lund-Yates, Lead Equity Analyst at Hargreaves Lansdown, said:

“There was a very mixed bag hidden within the results, with core trends showing the negative effect of new lockdowns in key cities and general concerns over the global economy, following sharp monetary tightening efforts.”

“ Output, new orders, buying levels and export orders all shrank. This latest data set does very little to offset concerns around darkening global economic output, especially when put together with a further easing of sentiment.”

But this news was offset by positive earnings updates from HSBC and Pearson.

HSBC shares rose 6% on better than expected results and as it gave new guidance on future dividends levels.

Noel Quinn, Group Chief Executive, said:

“ We are confident of achieving a return on tangible equity of at least 12% from 2023 onwards, which would represent our best returns in a decade.”

“As a result, we are providing more specific dividend payout ratio guidance of around 50% for 2023 and 2024. We understand and appreciate the importance of dividends to all of our shareholders. “

“We will aim to restore the dividend to pre-Covid-19 levels as soon as possible. We also intend to revert to quarterly dividends in 2023."

The banking group reported a US$1.7bln fall in first half pre-tax profits to $9.2bln, reflecting a net charge for expected credit losses and other credit impairment charges.

Media group, Pearson, topped the FTSE 100 risers with shares up 6.85% after it raised its margin guidance as it reported first half results today.

Adjusted operating profit rose by £33mln to £160mln in the six months to June driven by an encouraging trading performance, FX benefit and property savings, partially offset by inflation, portfolio investment and the phasing of costs last year.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

7.40am: FTSE 100 seen opening slightly lower, results in focus

FTSE 100 seen slightly softer as trading begins with spread betting companies calling the lead index down around 12 points in early trading.

US markets finished strongly on Friday with the DJIA closing up 316 points, 1%, at 32,845, while the Nasdaq Composite added 228 points, 1.9%, to 12,391 and the S&P 500 improved 58 points, 1.4%, to end at 4,130.

Friday marked the third-consecutive positive day for the major benchmarks.

In the UK focus will switch to August’s MPC meeting with an interest rate rise of 25bps-50bps expected.

HSBC gave new dividend guidance as it reported first half results today.

Noel Quinn, Group Chief Executive, said:

“ We are confident of achieving a return on tangible equity of at least 12% from 2023 onwards, which would represent our best returns in a decade.”

“As a result, we are providing more specific dividend payout ratio guidance of around 50% for 2023 and 2024. We understand and appreciate the importance of dividends to all of our shareholders. “

“We will aim to restore the dividend to pre-Covid-19 levels as soon as possible. We also intend to revert to quarterly dividends in 2023."

The banking group reported a US$1.7bln fall in first half pre-tax profits to $9.2bln, reflecting a net charge for expected credit losses and other credit impairment charges.

Reported credit impairment charges were $1.1bln although operating expenses fell by 4% primarily due to foreign exchange translation impacts.

Quinn added: "Our first-half performance reflects the continued impact of our strategy, with gathering revenue momentum and tight cost control.”

“ The progress that we've made growing and transforming HSBC means we are in a strong position as we enter the current rates cycle.”

Media group, Pearson, raised its margin guidance as it reported first half results today.

Adjusted operating profit rose by £33m to £160m in the six months to June driven by an encouraging trading performance, FX benefit and property savings, partially offset by inflation, portfolio investment and the phasing of costs last year.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

It reaffirmed revenue and operating guidance for the full year.

Cranswick Group provided investors with an update on trading for the first quarter adding the outlook for current financial year remains in line with the Board’s expectations.

Revenue in the 13 weeks to 25 June 2022 was 7.6% ahead of the same period last year with growth in all four UK food product categories.

Far East sales were, as anticipated, lower due to market prices falling.

JD Sports announced the £37.5m disposal of Footasylum Limited to AURELIUS Group.

6.50am: FTSE 100 seen lower

FTSE 100 expected to open slightly lower on Monday, giving up some of the strong gains made on Friday.

Spread betting firms are calling the blue chip index down by around 10 points in early trading.

Results from HSBC and Pearson are due today while August's MPC meeting will also be in focus this week.

Mon, 01 Aug 2022 03:50:00 -0500 en text/html https://www.proactiveinvestors.co.uk/companies/news/988822/ftse-100-closes-in-red-to-start-week-as-traders-fret-about-global-economic-picture-988822.html
Killexams : Live news update: UK manufacturing falls to lowest level since June 2020

This week, the Conservative leadership contest caravan moves from parliament to the membership in the country. Ballots are expected to land on the doormats of 150,000 Tory party members in the next few days, while the finalists Liz Truss and Rishi Sunak will go head to head in another televised debate on Sky News on Thursday at 8pm.

But have Tory members already made up their minds? Polls have shown Truss pulling ahead of the former chancellor among the rank and file. Stephen Bush, who helms the Inside Politics newsletter, warns that Sunak has limited time to close the gap with Truss, as “most Conservative members will vote right away when their ballot papers arrive”.

Whoever clinches victory in the leadership race will be inheriting a wave of industrial discontent. Thousands of BT employees will walk out on Monday for the second of two strikes, led by the Communication Workers Union, in a dispute over pay. In response to BT’s £1,500 pay deal offered to staff in April, the CWU said company bosses had “stuck two fingers up” to workers. Dockers at the UK’s biggest container port are also expected to strike in August.

Across the Atlantic, Hungary’s prime minister Viktor Orbán will speak at the Conservative Political Action Conference in Dallas despite an international backlash following a speech he gave about race that led to the resignation of one of his close aides, who called it “pure Nazi”.

Speaking of controversial international trips, Kathrin Hille reports that China is pulling out all the stops — including possibly the military — to dissuade US House of Representatives Speaker Nancy Pelosi from visiting Taiwan in the next few days.

Past the doom and gloom, we can look forward to a weekend of revelry. As well as International Beer Day on Friday, Brighton’s streets will be awash with glitter as one of the UK’s biggest Pride events kicks off. The annual LGBTQ parade will see thousands of people flocking to the south coast of England. And don’t miss the Fire of Love on the big screen, writes our film critic Danny Leigh.

Economic data

The Bank of England will be in a tight(ening) spot on Thursday as its Monetary Policy Committee weighs up how high to raise interest rates in a bid to bring inflation down to its 2 per cent target. It is currently running at a 40-year high of 9.4 per cent and is expected to climb higher. Governor Andrew Bailey said an increase of half a percentage point — which would be the biggest increase in 27 years — is on the table.

The BoE is under pressure to step up inflation-taming efforts after the US Federal Reserve raised its benchmark rate by 0.75 percentage points for the second month in a row on Wednesday. The White House will be trumpeting any good news from US employment figures this week to downplay fears of recession. The economy shrank for a second straight quarter and “core” personal consumption expenditures rose 0.6 per cent in June.

Companies

The August earnings lull is not quite upon us. After last week’s frenzy, things will chill out only a little in the days ahead, says FT corporate commentator Cat Rutter Pooley.

The narrative of consumer goods and drinks groups raising sales forecasts on the back of surging inflation has been firmly set ahead of Heineken’s results on Monday and Kellogg’s on Thursday.

The windfall profits earned by oil and gas groups have also been a major focus of the earnings season. After Shell racked up $11.5bn in profits in a record quarter, it’s BP’s turn to step into the political storm on Tuesday. The UK has imposed additional taxes on energy companies this year but another round of record profits could increase calls for additional levies.

And while the major US banks gave their updates what feels like aeons ago, reports from the European banking sector are still trickling through. HSBC will update on whether lockdowns in China have continued to weigh on its Asian profitability, while Bank of Ireland and Commerzbank both report on Wednesday.

Read the full week ahead calendar here.

Sun, 31 Jul 2022 22:02:00 -0500 en-GB text/html https://www.ft.com/content/708a7cdc-0b97-4fcf-ad02-7a929cd1abe5?curator=biztoc.com
Killexams : Live news update: Italian government bonds rally as debt worries fade

This week, the Conservative leadership contest caravan moves from parliament to the membership in the country. Ballots are expected to land on the doormats of 150,000 Tory party members in the next few days, while the finalists Liz Truss and Rishi Sunak will go head to head in another televised debate on Sky News on Thursday at 8pm.

But have Tory members already made up their minds? Polls have shown Truss pulling ahead of the former chancellor among the rank and file. Stephen Bush, who helms the Inside Politics newsletter, warns that Sunak has limited time to close the gap with Truss, as “most Conservative members will vote right away when their ballot papers arrive”.

Whoever clinches victory in the leadership race will be inheriting a wave of industrial discontent. Thousands of BT employees will walk out on Monday for the second of two strikes, led by the Communication Workers Union, in a dispute over pay. In response to BT’s £1,500 pay deal offered to staff in April, the CWU said company bosses had “stuck two fingers up” to workers. Dockers at the UK’s biggest container port are also expected to strike in August.

Across the Atlantic, Hungary’s prime minister Viktor Orbán will speak at the Conservative Political Action Conference in Dallas despite an international backlash following a speech he gave about race that led to the resignation of one of his close aides, who called it “pure Nazi”.

Speaking of controversial international trips, Kathrin Hille reports that China is pulling out all the stops — including possibly the military — to dissuade US House of Representatives Speaker Nancy Pelosi from visiting Taiwan in the next few days.

Past the doom and gloom, we can look forward to a weekend of revelry. As well as International Beer Day on Friday, Brighton’s streets will be awash with glitter as one of the UK’s biggest Pride events kicks off. The annual LGBTQ parade will see thousands of people flocking to the south coast of England. And don’t miss the Fire of Love on the big screen, writes our film critic Danny Leigh.

Economic data

The Bank of England will be in a tight(ening) spot on Thursday as its Monetary Policy Committee weighs up how high to raise interest rates in a bid to bring inflation down to its 2 per cent target. It is currently running at a 40-year high of 9.4 per cent and is expected to climb higher. Governor Andrew Bailey said an increase of half a percentage point — which would be the biggest increase in 27 years — is on the table.

The BoE is under pressure to step up inflation-taming efforts after the US Federal Reserve raised its benchmark rate by 0.75 percentage points for the second month in a row on Wednesday. The White House will be trumpeting any good news from US employment figures this week to downplay fears of recession. The economy shrank for a second straight quarter and “core” personal consumption expenditures rose 0.6 per cent in June.

Companies

The August earnings lull is not quite upon us. After last week’s frenzy, things will chill out only a little in the days ahead, says FT corporate commentator Cat Rutter Pooley.

The narrative of consumer goods and drinks groups raising sales forecasts on the back of surging inflation has been firmly set ahead of Heineken’s results on Monday and Kellogg’s on Thursday.

The windfall profits earned by oil and gas groups have also been a major focus of the earnings season. After Shell racked up $11.5bn in profits in a record quarter, it’s BP’s turn to step into the political storm on Tuesday. The UK has imposed additional taxes on energy companies this year but another round of record profits could increase calls for additional levies.

And while the major US banks gave their updates what feels like aeons ago, reports from the European banking sector are still trickling through. HSBC will update on whether lockdowns in China have continued to weigh on its Asian profitability, while Bank of Ireland and Commerzbank both report on Wednesday.

Read the full week ahead calendar here.

Mon, 01 Aug 2022 02:06:00 -0500 en-GB text/html https://www.ft.com/content/708a7cdc-0b97-4fcf-ad02-7a929cd1abe5
Killexams : XLRI Jamshedpur inaugurates Xaviers Online Learning programme No result found, try new keyword!Today digitally, three master's level programmes were launched by XLRI Jamshedpur in an online format in accordance with the new educational policy framework. Post Graduate Diploma in Business ... Tue, 26 Jul 2022 02:10:32 -0500 en-in text/html https://www.msn.com/en-in/health/wellness/xlri-jamshedpur-inaugurates-xaviers-online-learning-programme/ar-AAZZsGo Killexams : Service sector at worst point since Alpha variant lockdown, survey suggests

The UK’s service sector has seen its worst month since the Alpha variant of Covid-19 forced most of the country into lockdown 17 months ago.

A new survey has estimated that growth in the sector is at the lowest it has been since February 2021, as the cost-of-living crisis makes customers tighten their belts.

The monthly S&P Global/CIPS UK services PMI survey hit 52.6 in July, from 54.3 a month earlier.

It still shows growth in the sector – anything above 50 is positive – but analysts had expected better.

According to a consensus supplied by Pantheon Macroeconomics, the score was predicted to be 53.3.

“UK service providers reported their worst month for business activity expansion since the national lockdown in February 2021,” said Tim Moore, economics director at S&P Global Market Intelligence.

Inflation and the cost-of-living squeeze increased economic uncertainty for the sector, the report found. As a result they struggled to attract new business.

Meanwhile, companies continued to face higher costs and to charge their customers more.

Fuel and utility bills pushed up costs for businesses both directly and indirectly, despite inflation easing from latest records in May and June.

“The most encouraging development during July was a considerable slowdown in input cost inflation since the previous month, likely reflecting lower commodity prices and a gradual easing of global supply shortages,” Mr Moore said.

“Overall cost burdens rose to the smallest extent seen so far in 2022, despite widespread reports citing pressure on operating expenses from higher fuel bills and staff wages.”

Duncan Brock, group director at the Chartered Institute of Procurement & Supply, said: “A period of relative stability in terms of supply chain disruption was also a plus point, according to survey respondents.

“However, after the scramble to regain the heights in activity during the Covid bounceback loses momentum, the UK marketplace will have to Boost much more to avoid a prolonged summer of discontent.”

Tue, 02 Aug 2022 21:36:00 -0500 en-CA text/html https://ca.sports.yahoo.com/news/sector-worst-point-since-alpha-093222186.html
Killexams : FTSE 100 closes in red to start week as traders fret about global economic picture
  • • FTSE 100 closes about 10 points lower
  • • HSBC, Pearson results please, banking sector advances
  • • UK PMI dips but signs inflationary pressures easing

4.50pm: FTSE closes lower

FTSE 100 closed in the red on Monday as US markets were choppy and traders fretted about the global economic picture ahead of the closely watched Friday jobs number state-side.

The UK's top share index closed down around 10 points, or 0.13%, at 7,413.42 on Monday.

"US markets are kicking off the week in choppy fashion, with indices flittering between positive and negative territory," noted senior market analyst Joshua Mahony from online trading firm IG.

"Earnings season has brought optimism that perhaps market pessimism has been somewhat overdone, yet today has seen data take a nosedive in Europe and China," he added.

"Between the biggest German retail sales decline since 1994, and contraction in manufacturing PMI surveys in China, Italy and Spain, the economic picture remains discouraging for investors.

But he added: "Thankfully the latest US headline and ISM manufacturing surveys point towards relative strength in the region for the time being, with an improved ISM employment element rising to bring hope for Friday’s jobs report."

3.45pm: FTSE hovering

FTSE 100 hovered around opening levels as it approached the close following a mixed open on Wall Street on Monday.

At 3.45pm the lead index was trading 2.54 points lower at 7,420.89, while the broader FTSE 250 was down 67.13 points at 20,098.64.

In the US markets were mixed with the DJIA down 69.67 points at 32,775.46 and the S&P 500 10.37 points lower at 4,120.84. But the tech laden Nasdaq pushed higher, up 7.49 points at 12,398.17.

Global recessionary worries reared their head once more on Monday following China’s weaker than expected PMI numbers which came after disappointing second quarter GDP numbers in the US last week.

Craig Erlam, senior market analyst, UK & EMEA, OANDA commented: "Chinese PMIs dampened the mood as the reopening boost to activity quickly faded. The country was already facing an uphill challenge, to put it mildly, with regards to its growth target this year and the fact that manufacturing activity is slowing again doesn't bode well. While the non-manufacturing survey is much healthier, it also experienced a deceleration last month which further suggests the economy is struggling to get back to full strength."

But, he added: "One positive from the surveys was the improvement in supply chain conditions which should aid the inflation fight around the world. Of course, it is more than just a supply chain problem at this point but every little helps as central banks are forced to hike rates aggressively for fear of inflation becoming entrenched."

2.40pm FTSE 100 retreated from earlier highs following a weak restart on Wall Street.

At 2.40pm the blue chip index was trading up 11.38 points at 7,434.81 while the broader FTSE 250 was 90 points lower at 20,074.

In the US markets fell back, consolidating latest gains, after their three day winning streak last week.

Shortly after the opening bell the DJIA was trading 102.43 points lower at 32,742.70, the S&P 500 was 14.80 points lower at 4,116.74 and the Nasdaq fell 33.50 points to 12,357.19.

Global recessionary worries reared their head once more on Monday following China’s weaker than expected PMI numbers which followed disappointing quarter two GDP numbers in the US last week..

In London, strong results from HSBC and Pearson provided early support offsetting concerns following a further drop in the UK PMI in July.

1.40pm: FTSE 100 holds gains although US seen lower at the open

FTSE 100 held close to session highs in early afternoon trading awaiting the restart on Wall Street today.

At 1.40pm the blue chip index was 36.12 points higher at 7,459.55 although the broader FTSE 250 slipped back into the red trading 41.13 points lower at 20,123.77.

Shares in the US are expected to open lower snapping the three-session winning streak that followed last week's, as-expected, Federal Reserve interest rate hike.

In London, positive results from HSBC Holdings PLC (LSE:HSBA) and Pearson PLC (LSE:PSON) supported the lead index with shares in both up 8% and 10.39% respectively.

Shore Capital analyst Roddy Davidson described Pearson's results as “pleasing.”

“We were pleased to note the positive momentum and growth outlook” from the group adding he “likes Pearson’s growing exposure to and substantial investment in digital products, and its status as a beneficiary of a positive medium-term outlook for global learning spend.” 

He rated the shares a buy.

On the downside XP Power Limited saw its shares tank on Monday after warning on full year results which it said would be at the lower end of current analyst expectations.

Shares in the critical power control solutions slumped 8.72% to 2,775p on the warning which came as the group announced first half results.

James Peters, Chair, commented:

“While underlying demand remained strong across all sectors, a combination of external supply chain factors, which restricted our capacity to deliver to customers, and inflationary pressures have produced a challenging backdrop in the first half.”

“The team is working hard to mitigate these industry-wide challenges, with an improvement in performance in quarter two being sustained into the early weeks of the second half.”

11.30am: FTSE near session highs, US seen opening lower

FTSE 100 held near session highs mid morning boosted by a number of positive corporate updates and despite a fall in the UK PMI.

By 11.30am, the lead index was trading 38.65 points higher at 7,463.33 while the broader FTSE 250 was 11.57 points to the good at 20,176.47.

The S&P Global/CIPS UK PMI fell to 52.1 in July from 52.8 in June, the fall would have been greater but for an upward revision to the survey’s jobs index.

But analysts did take some heart from signs that inflationary pressures may be easing.

US stocks were expected to start the new month lower on Monday, snapping the three-session winning streak that followed last week's, as-expected, Federal Reserve interest rate hike.

Investors look to have shifted focus to worries about a global recession after weak data out of China on Monday and last week's poor US GDP numbers, although latest robust corporate earnings could provide underlying support.

Share prices enjoyed a decent run last week despite news of the surprise drop in US second quarter GDP and the widely expected 75-basis point Fed rate increase, ending a see-saw July positively.

On August 1, however, for the Dow Jones Industrial Average were trading 0.2% lower pre-market, while those for the broader S&P 500 index and the tech-laden Nasdaq-100 both fell 0.3%.

Naeem Aslam, chief market analyst at Avatrade.com, commented: "US futures are trading soft today as traders are digesting the economic numbers out of China. The data has largely disappointed investors. The rebound in the Chinese data, which we saw more recently in Chinese numbers, began to stall, and the evidence of this came in the Chinese Manufacturing PMI number today, which dropped into the contraction territory and printed a practicing of 49 from its previous practicing of 50.2. Investors are blaming the current slowdown in the acidity due to the lockdowns taking place in China."

He added: "If that is the reason, then there is less to worry about as such lockdowns are on the decline, and in the coming weeks, we should see improvement in the economic data. However, if the weakness in the economic numbers isn’t due to the lockdowns but in fact, due to the cautionary tone adopted by corporates in their spending and paying due to the mounting recession fear, then we are looking at a picture that requires a great deal of attention."

"We think that the slowdown is primarily due to the concerns of a potential recession taking place around the globe due to higher inflation and less spending, and it is highly likely that we may well see more evidence on this. Another reason that is also pulling the US futures down today is the hawkish tone adopted by the Fed members. Remember, the Fed increased the interest rate by 75 basis last week, and market players aren’t expecting the Fed to stay that hawkish. However, some comments over the weekend by Fed officials have alarmed investors," Aslam concluded.

Among the corporate earnings due Monday, conglomerate Loews (NYSE:L) Corporation will report before the market opens, while tech firms Pinterest and Activision Blizzard will report after the closing bell.

10.50am: UK PMI falls at fastest rate since May 2020

British manufacturing output fell in July at the fastest rate since May 2020, as factories across Europe struggled with rising costs and slowing demand, according to a survey released on Monday.

The S&P Global/CIPS UK PMI fell to 52.1 in July from 52.8 in June, the fall would have been greater but for an upward revision to the survey’s jobs index.

Martin Beck, Chief Economic Advisor to the EY ITEM Club, said:

“The weakness was relatively broad-based across the survey.”

“New orders fell for a second successive month, while the decline in backlogs of work was the steepest since September 2020.”

“The one bright spot was evidence that inflationary pressures are starting to ease.”

“Manufacturers' input costs rose at the slowest pace since January 2021, following a broad-based fall in commodity prices.”

“The combination of weaker input cost pressures and softer demand meant that companies increased their prices at the slowest pace since last May.”

“The MPC should be heartened by the cooling in inflationary pressures."

"But it's unlikely to have any impact on their thinking for this week's meeting, where a rate rise of at least 25bps is certain and an increase of 50bps is a live possibility."

10.00am: FTSE 100 moves to session highs

FTSE 100 held near session highs boosted by some positive earnings updates and a strong showing in the US on Friday.

At 10.00am the blue chip index was 35.85 points higher at 7,457.57 with the broader FTSE 250 index 34.70 points to the good at 20,199.60.

AJ Bell Investment Director Russ Mould commented:

“The FTSE 100 started the week higher following some relatively positive corporate updates, notably from index heavyweight HSBC,” 

“Profit came in ahead of expectations, if a little below last year’s total as the company was forced to set aside cash to cover bad debts. Driving efficiencies at a supertanker of a business like HSBC is far from easy but the tight control on costs suggests that CEO Noel Quinn and his team are doing a decent job."

“Education publishing specialist Pearson was among the winners on Monday as it stuck with full year guidance and reported a significant increase in profit following stronger sales."

“The increasingly digital-focused company is less exposed to some of the cost pressures facing other types of businesses and this is helping it in the current environment." Mould added.

AIM Listed Wishbone Gold PLC (AIM:WSBN) saw its shares surge 23% after reporting encouraging results at the company's Red Setter Gold-Copper Project in the Patersons Range area in Western Australia.

9.00am: FTSE 100 in buoyant mood

FTSE 100 made a strong start to the week supported by strong gains in the US on Friday and some upbeat corporate news.

At 9.00am the lead index was trading up 29.51 points at 7,452.94 shrugging aside weaker than expected PMI data from China.

Banking stocks were once again in favour as results from HSBC Holdings PLC (LSE:HSBA) brought the curtain down on the sector’s reporting season.


Richard Hunter, Head of Markets at interactive investor, commented the results were rescued by a stronger than expected second quarter.

“ Net profit in the second quarter rose by 62%, strongly above expectations, while Net Interest Income improved by 13%. The Net Interest Margin also strengthened to 1.35% from 1.2%.”

“ Apart from a rising interest rate environment which is beginning to benefit the banks as a whole.”

“HSBC also retains a tight control on costs as it moves towards digitisation, and second quarter operating expenses declined by 5%.”

Shares rose 6.68% to 548p with other banking stocks higher as well, Barclays (+2.5%), Standard Chartered (+1.8%) and NatWest (+1.9%).

Media group, Pearson, topped the FTSE 100 risers with shares up 6.85% after it raised its margin guidance as it reported first half results today.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

Belvoir Group PLC (AIM:BLV) advanced 1% after it said it is performing “well” and in line with management expectations, with revenue boosted by lettings and financial services. 

Revenue for the six months to 30 June 2022 grew by 11% compared with the same period last year, despite 2021 being an "exceptionally strong year" for the property sector, the property franchise and financial services group said in a trading update. 

Shares in AIM listed Nostra Terra, the international oil & gas exploration and production company, surged 10.75% after announcing that the Fouke #2 well has reached payback (recovery of all drilling and drilling-related costs from net cashflow) less than three months from production start-up.

This is considerably ahead of pre-drill expectations due to a combination of higher realised oil prices and a production rate that is 70% greater than originally forecast, the company said.

8.30am: FTSE 100 opens higher, HSBC and Pearson up after results

FTSE 100 shrugged off concerns of weak Chinese PMI data to make a strong start to trading.

At 8.30am the lead index was trading 27.54 points higher at 7,431.47 supported by strength in the banking sector once more after results from HSBC.

China’s PMI fell unexpectedly to 49.0 in July, from 50.2 in the previous month and below forecasts  of 50.4.

Sophie Lund-Yates, Lead Equity Analyst at Hargreaves Lansdown, said:

“There was a very mixed bag hidden within the results, with core trends showing the negative effect of new lockdowns in key cities and general concerns over the global economy, following sharp monetary tightening efforts.”

“ Output, new orders, buying levels and export orders all shrank. This latest data set does very little to offset concerns around darkening global economic output, especially when put together with a further easing of sentiment.”

But this news was offset by positive earnings updates from HSBC and Pearson.

HSBC shares rose 6% on better than expected results and as it gave new guidance on future dividends levels.

Noel Quinn, Group Chief Executive, said:

“ We are confident of achieving a return on tangible equity of at least 12% from 2023 onwards, which would represent our best returns in a decade.”

“As a result, we are providing more specific dividend payout ratio guidance of around 50% for 2023 and 2024. We understand and appreciate the importance of dividends to all of our shareholders. “

“We will aim to restore the dividend to pre-Covid-19 levels as soon as possible. We also intend to revert to quarterly dividends in 2023."

The banking group reported a US$1.7bln fall in first half pre-tax profits to $9.2bln, reflecting a net charge for expected credit losses and other credit impairment charges.

Media group, Pearson, topped the FTSE 100 risers with shares up 6.85% after it raised its margin guidance as it reported first half results today.

Adjusted operating profit rose by £33mln to £160mln in the six months to June driven by an encouraging trading performance, FX benefit and property savings, partially offset by inflation, portfolio investment and the phasing of costs last year.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

7.40am: FTSE 100 seen opening slightly lower, results in focus

FTSE 100 seen slightly softer as trading begins with spread betting companies calling the lead index down around 12 points in early trading.

US markets finished strongly on Friday with the DJIA closing up 316 points, 1%, at 32,845, while the Nasdaq Composite added 228 points, 1.9%, to 12,391 and the S&P 500 improved 58 points, 1.4%, to end at 4,130.

Friday marked the third-consecutive positive day for the major benchmarks.

In the UK focus will switch to August’s MPC meeting with an interest rate rise of 25bps-50bps expected.

HSBC gave new dividend guidance as it reported first half results today.

Noel Quinn, Group Chief Executive, said:

“ We are confident of achieving a return on tangible equity of at least 12% from 2023 onwards, which would represent our best returns in a decade.”

“As a result, we are providing more specific dividend payout ratio guidance of around 50% for 2023 and 2024. We understand and appreciate the importance of dividends to all of our shareholders. “

“We will aim to restore the dividend to pre-Covid-19 levels as soon as possible. We also intend to revert to quarterly dividends in 2023."

The banking group reported a US$1.7bln fall in first half pre-tax profits to $9.2bln, reflecting a net charge for expected credit losses and other credit impairment charges.

Reported credit impairment charges were $1.1bln although operating expenses fell by 4% primarily due to foreign exchange translation impacts.

Quinn added: "Our first-half performance reflects the continued impact of our strategy, with gathering revenue momentum and tight cost control.”

“ The progress that we've made growing and transforming HSBC means we are in a strong position as we enter the current rates cycle.”

Media group, Pearson, raised its margin guidance as it reported first half results today.

Adjusted operating profit rose by £33m to £160m in the six months to June driven by an encouraging trading performance, FX benefit and property savings, partially offset by inflation, portfolio investment and the phasing of costs last year.

 The group said it has identified further efficiencies of at least £100mln for 2023 which it added accelerates its improved margin expectation to 2023 from 2025.

It reaffirmed revenue and operating guidance for the full year.

Cranswick Group provided investors with an update on trading for the first quarter adding the outlook for current financial year remains in line with the Board’s expectations.

Revenue in the 13 weeks to 25 June 2022 was 7.6% ahead of the same period last year with growth in all four UK food product categories.

Far East sales were, as anticipated, lower due to market prices falling.

JD Sports announced the £37.5m disposal of Footasylum Limited to AURELIUS Group.

6.50am: FTSE 100 seen lower

FTSE 100 expected to open slightly lower on Monday, giving up some of the strong gains made on Friday.

Spread betting firms are calling the blue chip index down by around 10 points in early trading.

Results from HSBC and Pearson are due today while August's MPC meeting will also be in focus this week.

Sun, 31 Jul 2022 21:44:00 -0500 en text/html https://www.proactiveinvestors.com.au/companies/news/988822
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