Perhaps the biggest – and strangest – news of the day is that a ‘fat fingered’ trader may have caused the pound to plummet to a thirty-year low in early trading in Asia.
As if sterling didn’t have enough troubles of late, the flash crash saw the pound dip toUS$1.138 at one point.
As the currency unexpectedly plunged, there was speculation that human error or a technical glitch may have caused a flurry of computer-driven orders, knocking down sterling.
Once the rogue outlying trade was cancelled, the pound recovered back up to US$1.243 and there are unconfirmed reports that the culprit may have been caught…
Exclusive caught on tape: The moment the Pound fell through the floor and the culprit behind today's move. $GBPUSD #Sterling #fatfinger pic.twitter.com/OFjn0FdQDK
— Joel Kruger (@JoelKruger) October 7, 2016
Asahi wants a taste of SABMiller
Rumours have been circulating that brewer Asahi Group Holdings is reportedly planning a near-US$5bn bid to acquire some of SABMiller's European assets.
Tokyo-based Asahi is remoured to be after SABMiller’s beer businesses in the Czech Republic, Poland, Hungary, Slovakia and Romania, although management has apparently denied this.
SABMiller has been forced to sell off its beer interests in the five countries to appease regulators as it looks to finalise its US$100bn-plus takeover of fellow beer powerhouse Anheuser-Busch InBev next week.
No more gambling ads during the day
The government may impose a day-time ban on gambling adverts over fears they are having a bad influence on the younger generation.
Currently the ads can be aired at any time, but an increasing number of youngsters falling victim to gambling has forced the government to reconsider.
One minister has even been quoted as saying: “The gambling industry’s luck has run out”.
According to Ofcom, gambling adverts increased 15-fold between 2005 and 2012 and experts have warned that those aged 18-24 are now twice as likely to have a gambling addiction compared to the rest of the population.
Most people on social media were supportive of the proposed review…
Excellent news - coercive gambling adverts are ruinous and the industry is complicit in addiction https://t.co/lb33Xu9Gm2
— 2020health (@2020health) October 7, 2016
Sci-fi magazines must be popular after all
And finally, if you thought the Competition and Markets Authority only got involved when the likes of Three and o2 considered merging, then think again.
The latest M&A to come under scrutiny from the CMA is Future plc’s (LON:FUTR) proposed acquisition of fellow publisher Imagine Publishing Ltd.
Both produce a vast array of specialist magazines but it’s their respective Sci-Fi titles that have raised eyebrows.
The CMA says any deal could be to the “detriment” of readers of Future’s SFX mag and Imagine’s Sci-Fi Now.