EU CONSUMER STAPLES: Unilever (UNANA): UK Food Brand Sales (Reuters)
(UNANA; A1/A+/NR)
~€0.2b is small ~0.4% of group revenues (ex. Ice-Cream)
"Unilever is considering selling a group of British food brands, including Marmite, Colman's and Bovril, three people with knowledge of the matter said, as the consumer goods group looks to streamline its business...
The package of UK assets is estimated to have about 200 million pounds ($261.30 million) worth of revenues, one of the people said." - Reuters
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CANADA DATA: Core CPI Latest Trends: Hotter Than Expected
Measures of core inflation were stronger than expected in September across the board. Of particular note was the rise in the median/trim average measure, at a 5-month high 3.15% Y/Y in September vs median expectations of a decline to 3.0%.
- Note also that August's median reading was revised up to 3.2% from 3.1%, bringing up August's trim/median avg to 3.10% from a previously estimated 3.05%.
- The upward revision meant that instead of remaining steady or even making disinflationary progress on a 3 month annualized rate basis from 2.5% prior, September's trim/median avg 3m ar picked up to 2.7% with August revised up to 2.6% from 2.5%. Progress in this category had been seen as key to the broader perception of disinflation but now that narrative looks slightly shakier.
- We also saw sequential seasonally-adjusted accelerations across other key aggregates- see below.
Core CPI (median & trim av - BoC focus):
% M/M: 0.23 in Sep'25 after 0.23 in Aug'25
% 3mth ar: 2.7 in Sep'25 after 2.6 in Aug'25
% 6mth ar: 2.95 in Sep'25 after 2.86 in Aug'25
% Y/Y: 3.15 in Sep'25 after 3.10 in Aug'25
CPI xFE (ex food & energy):
% M/M: 0.19 in Sep'25 after 0.13 in Aug'25
% 3mth ar: 1.56 in Sep'25 after 1.56 in Aug'25
% 6mth ar: 2.36 in Sep'25 after 1.97 in Aug'25
CPIX (ex 8 most volatile & indirect taxes):
% M/M: 0.31 in Sep'25 after 0.19 in Aug'25
% 3mth ar: 2.29 in Sep'25 after 2.3 in Aug'25
% 6mth ar: 3.08 in Sep'25 after 2.06 in Aug'25
Source: Bloomberg Finance L.P., MNI
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US: MNI POLITICAL RISK - Reports Of Possible Govt Shutdown Offramp
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- Senate Republicans will have lunch at the White House at 12:00 ET 17:00 BST. The lunch appears to be a social event rather than a signal that President Donald Trump is preparing to insert himself into negotiations to end the government shutdown.
- A federal appeals court ruled that Trump can send federal troops to Portland, reversing a temporary restraining order.
- The US and Australia signed a landmark mineral deal as Washington looks to reduce exposure to China's control of the global rare earth supply chains.
- The US and Canada could sign a metals and energy deal at the APEC summit later this month.
- Vice President JD Vance is in Israel to stabilise the Gaza ceasefire.
- FHFA director Bill Pulte hinted that Fanny Mae and Freddie Mac could be taken out of federal government conservatorship this year.
- Interior Secretary Doug Burgum threw cold water on reports of a deal with Democrats on offshore wind.
- A second Trump-Putin summit is already in doubt. Kyiv looks to Europe to bolster support as Trump pivots again.
- Trump escalated his Latin American drug war with new measures against Colombia.
- US banks are struggling to put together a loan for Argentina as confidence in Trump's economic assistance package falters.
- Iranian Supreme Leader Ali Khamenei dismissed the prospect of new nuclear talks with the US.
- Poll of the Day: Americans are less confident the GOP can keep the country prosperous.
Full Article: US DAILY BRIEF
