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Lenta tests new self-service technologies; ITAB TwinFlow checkout counters – first time in Russia

Saint Petersburg, Russia; – Lenta, one of the largest retail chains in Russia, announces a pilot launch of ITAB self-checkout counters and the Lenta-SCAN system for automatic item scanning at Lenta hypermarkets in St. Petersburg.\

Lenta starts the year by launching a number of new projects aimed at improving customer experience through reducing time spent at the checkout counter.

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WEF, Davos: Crystal Awards — Cate Blanchett, Sir Elton John and Shah Rukh Khan to receive the World Economic Forum’s 24th annual award for outstanding artistic achievement.

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Sanofi to Acquire Bioverativ for $11.6 Billion

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Bitcoin Again Plummeting  

India’s leading private banks targeted and suspended cryptocurrency exchange accounts in a bid to curb digital currency trading. Banks across India are cracking down on bitcoin trade, after Finance Minster Arun Jaitley publicly denounced the digital currency. Bitcoin opened on the markets at $12,899.20 before plunging by a $1,000 or so in hectic trade!  

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US government shutdown: Congress reconvenes as shutdown enters second day

Washington: Senator. McConnell (R) on Senate floor: “This shutdown is going to get a lot worse tomorrow. Today would be a good day to end it."

House and Senate lawmakers meanwhile geared up for another round of negotiations to end the US government shutdown as it enters its second day, gearing up for a rare Sunday session aimed at striking a deal on spending and immigration that would reopen federal agencies ahead of the work week.

The prospects of an agreement seemed slightly less daunting this Sunday as the fragile outlines of a potential deal began to take shape.

US House Speaker Paul Ryan (R) said the lower chamber has agreed to accept a short-term deal that would fund the government through Feb. 8 if the Senate is able to pass such a bill. Senate Majority Leader Mitch McConnell (R) has said the Senate will vote later to day.

Senate Democrats are unlikely to support a revised bill without concessions on immigration from the GOP.

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UK CBI: Customs union is best for Britain

A comprehensive customs union, after transition, is a 'practical, real-world answer' that could help resolve some of the complex issues raised by the UK's Exit from the EU, says Director-General Carolyn Fairbairn.

2018 must be the year of hard choices, based on evidence not ideology, Carolyn Fairbairn, Director-General of the CBI will say in a speech on Monday (22 Jan). We should consign Leave and Remain labels to history, she will add – “the overriding goal now is a good Brexit.”

Speaking at the University of Warwick, Carolyn will say time is running out and businesses urgently need decisions to protect UK jobs and growth. Clarity, flexibility and urgency are vital to get a “good Brexit for Britain”, requiring a fundamental change in approach.

Carolyn will call for a status quo, jobs-first transition deal to be nailed down in the next 70 days to remove the cliff edge for firms. A united UK view is needed by April - allowing talks to begin that month and unambiguous heads of terms agreed with the EU by October.

Urging rapid agreement on the shape of a new deal, Carolyn will say neither the Canada nor Norway models represent the best solution for business or for Britain.

The Canada model, she will say, “is an ocean away from what we need. We can’t afford higher barriers to trade, and nor can the EU.”

To achieve a good Brexit, she will say both sets of negotiators must revisit red lines, putting economics before politics to protects jobs and communities on both sides of the Channel.

In this spirit, Carolyn will propose that a comprehensive customs union between the UK and the EU should be on the table as a “practical, real-world answer” that goes a long way towards solving some of the complex issues, including the Irish border question, raised by the UK’s exit from the EU.

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Brussel: Grootschalige politieoperatie zondagavond in Noordstation en Maximiliaanpark ter bestrijding van migranten zonder papieren.

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Big companies such as Unilever are being hit by a trend for shoppers turning their backs on the big-brand staples "in favour of healthier, small-batch alternatives".

The Anglo-Dutch giant, known for Persil soap powder, Dove soap and Wall's ice cream, has been on a quest to reinvent itself since rebuffing a takeover approach last year from US food group Kraft Heinz. The group is also still to make a decision on its corporate structure.

Late last year, Unilever sold its spreads business for £6bn to private equity firm KKR.

Unilever boss Paul Polman made 10 acquisitions last year to try and freshen up its product ranges.

However full year results are likely to show the European business has gone backwards once again in 2017 and the group's personal care division has had an underwhelming year.

Costs are also expected to have risen, with cuts to marketing budget perhaps hampering future sales.

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FIOD: doorzoekingen/beslag in het kader van strafrechtelijk onderzoek naar BTW carrouselfraude bij levering van dure auto’s vanuit Spanje, België, Duitsland en Oostenrijk via Nederland aan afnemers in Oost-Europa. 

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In a first test/step Germany’s Social Democrats agreed Sunday to pursue further talks with Angela Merkel’s conservatives.

It improving the chances for another grand coalition. Around 600 party delegates gathered in Bonn on Sunday agreed to take one further step towards renewing a partnership with Mrs. Merkel’s Christian Democratic Union (CDU). The vote was 362 for and 279 against.

After several hours of fiery debate, SPD delegates decided in a close vote to open formal negotiations with the center-right CDU/CSU bloc. Those talks are expected to take several weeks.

Should the parties agree to form another coalition, the SPD’s 440,000 members would then be asked to vote on the final deal. If they agree, Germany’s new government would likely take office around Easter.

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Carpetright sales slump during the important post-Christmas trading period.

Carpetright saw a significant deterioration in UK trading during the important post-Christmas trading period. The group said this has had a significant impact on profitability and its outlook for the reminder of the year.

The group said revised full year profit guidance was in the range of £2.0m to £6.0m. It said that UK trading was hit by lower customer footfall, with transaction numbers down significantly year-on-year.

Like-for-like sales fell by 3.6% in the 11 weeks to 13 Jan, with a decrease of 1.4% within the flooring category, and a further material decrease in bed sales.

Core flooring like-for-like sales saw a decline of 7.1% since Christmas. It said that in the Rest of Europe (Netherlands, Belgium and the Republic of Ireland) like-for-like sales increased by 4.3% in local currency terms.

Chief executive Wilf Walsh said: 'Despite a positive start to our third quarter, we have seen a significant deterioration in UK trading during the important post-Christmas trading period. 'While average transaction values were up year on year, the number of customer transactions since Christmas was sharply down, which we believe is indicative of reduced consumer confidence.

'Our response to the threat of new competition continues to be effective, with those stores that have traded against new local competition for more than 12 months performing ahead of the rest of our estate.

'Sales in our Rest of Europe business have also been volatile but we continue to deliver like-for-like sales growth, primarily reflecting the introduction of lower margin service income. 'The severity of the decline in footfall over this key trading period and our more cautious view of the outlook for the balance of the year leads to a significant reduction in our full year expectations. 

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About EASYJET Forecast Analysis (Members Only) 

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Big question, when ECB rates goes up, probably later this year from negative to positive? Thursday, ECB could give an indication?   

ECB decision on Thursday, while no change in policy is expected, recent minutes c.q. comments about the direction of policy this year, could mean that the press conference will be interesting to watch. 

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Main economic reports (eventually market movers) this week

Monday

No events

Tuesday

11:00 hrs – German ZEW (January): economic sentiment, forecast to rise

Wednesday

09:00 hrs  -  Eurozone services PMIs (January, flash), forecast to rise

10:30 hrs – UK employment, forecast to rise 

Thursday

10:00 hrs – German IFO (January): business climate index, forecast to rise

13.45 hrs – ECB decision, while no change in policy is expected, recent minutes comment about the direction of policy this year, could mean that the press conference will be interesting to watch. Big question when rates goes up? 

Friday

10:30 hrs – UK GDP (Q4, preliminary): this first estimate of GDP is forecast to rise marginally.

14:30 hrs – US GDP (Q4, preliminary) , (volatile) durable goods orders (December): GDP growth forecast to be 3%. Durable goods orders expected to rise as well.

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 Rémy pursued its strong growth through the end of December, but strong euro a bit worrying for now!

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French President Emmanuel Macron says Donald Trump is definitely not a 'classical politician'.

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Washington: A key vote later today is set to be held in a last-ditch attempt to reopen the US government

Senate Republican Mitch McConnell has set a vote to fund the US government until 8 February and end the shutdown in the short term, allowing more time for talks.

Both houses of Congress - the Senate and House of Representatives - are set to reconvene later today (on Sunday).

So far the impact of the shutdown, which began at midnight on Friday, has been limited, but it can change life hundreds of thousands of federal workers when they are forced to start the working week with no pay.

The impact will be far greater if the stalemate spills into the new working week.

Republicans and Democrats have become embroiled in a blame game for the failure to pass a stop-gap funding measure by the 20 January deadline which is exactly a year since Donald Trump took office.

The main stumbling block is immigration issue and Mr. Trump's refusal to fund a programme that protects 700,000 immigrants who arrived in the US as children from deportation – so-called Dreamers.

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