1. Tesco - after a mammoth loss (and a 5% fall) I conclude that it is likely that the turnaround will take time (if we did not know that already)...but I still keep the faith.
2. Interesting near multi-year high in UK personal finance hopes...but I observe just how close it is to the 'no change' 50.0 level...
3. Should we be surprised? Check out this European economic combination (via Fast FT):
'The flash consumer confidence indicator, a well-regarded
measure of optimism produced by the European Commission, unexpectedly worsened
to a reading of minus 4.6 in April from a reading of minus 3.7 in March. Economists had been expecting the index to advance to minus
2.5. Anything below zero is still below the average long-term trend, however but elsewhere...
...The German government on Wednesday raised its growth
forecast for the eurozone's largest economy to 1.8 per cent from an earlier
expectation of 1.5 per cent'
4. Lots of corporates reporting. Various reports coming out on www.financialorbit.com. Here's what Yum! Brands see with particular reference to their Chinese operations. It is not a no growth road...
5. Good graphic on family businesses as a proportion of the top companies:
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