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Gives US PE that much more buying power too.

Key inflation data tomorrow both sides of the pond, expecting US to keep cooling given economic backdrop, I think any excuse and the fed will drop rates again its so precarious.

Used car prices is often a good indicator (don't look at the chart underneath for auto loan debt)

Used car and truck prices see dip

The used car market was friendlier to consumers as used car and truck prices dropped 3.4% year over year, per the November 2024 BLS consumer price index.

https://www.lendingtree.com/auto/debt-statistics/#:~:text=Auto%20loan%20debt%20is%20the,auto%20loans%20in%20Q3%202024.

From Sept half year results, its quite a lump at 25% impacting bottom line.

· H1 adjusted EBITDA of £19.6m (H1 2023: £46.9m) was incrementally impacted by c.£5m YoY due to continued FX headwinds in Asia, principally the weaker Japanese Yen (Myprotein's second largest market).

Following a two-year project, local manufacturing recently commenced which will steadily scale to reduce exposure to Japanese Yen FX movements.

On the subject of Japan local supply and manufacturing, is it the case up until Q4 MP were importing from UK finished goods for re-sale in Asia, then once sold profit is liberated back to GBP ?

This is my understanding which involves 2x FX hits, weak Yen to buy goods then weak Yen converted back to GBP.

From Q4 we now just have the one leg left so arguably half the loss?

Depends on when manufacturing started on Q4 but Q1 should see the full benefits in outlook statement.

Biotech and Pharma

Eli Lilly to buy Scorpion Therapeutics’ cancer therapy for up to $2.5 billion

https://www.cnbc.com/2025/01/13/eli-lilly-to-buy-scorpion-therapeutics-cancer-therapy-for-up-to-2point5-billion.html

Unfortunately the same one as you : )

Suggest you look at credit card debt, national borrowing, car inventory, RV inventory and a host of other indicators.

The US is stalling despite the jobless claims last week, many of which are part time or second/third jobs.

The plates need to keep spinning hence lower rates imo

'Cases filed by chapter' shows a four year high.

https://www.uscourts.gov/data-news/reports/statistical-reports/bankruptcy-filing-statistics/bankruptcy-statistics-data-visualizations

If you click the five year chart you can see just how much it fallen (25.16%) this in part gave rise to AR comments on weak yen wiping out profitability.

This is one of the main detractors which might improve subject to local manufacturing.

No one minds a bit of banter but there are pages and pages of it over the weekend.

This is a good site as you can switch between the pound/yen, pound/dollar easily, as pointed out on S4 thread, it does need to stay at these levels for a protracted period of time.

https://www.xe.com/currencycharts/?from=JPY&to=GBP

Agreed, it needs to stay at low levels for a protracted period of time, that said it may well do -

Trump has a huge amount of momentum behind him plus its just the start of his term, we could also see more rate cuts to help kick-start the economy m- many of the on-the-ground real world stats are pointing to a severe recession, on top of that you have weather related disasters.

This obsession with a couple of nuisance posters is unhealthy and honestly embarrassing, compare this to S4 thread where adults are discussing falling pound.

Might be some read across to Nutrition, its also the first year of re-branding pushing into offline sales - May 2024

'Myprotein, the leading online sports nutrition brand, announces the launch of nearly 80 products at Boots, the UK's leading health and beauty retailer, across 1,200 stores nationwide.

Boots’ new in-store range includes an array of products across Myprotein and its family brands, Myvegan and Myvitamins. Alongside popular bestsellers such as Clear Whey Protein, Impact Pre-Workout, BCAA and Creatine, Boots is the first to market on Myprotein Impact Whey Isolate - its top selling range globally - and is the first to carry the range in 480g tubs.

The announcement marks Myprotein’s biggest in-store launch with a single retailer and comes as brand owner THG Nutrition aims to increase offline sales of Myprotein to 25% over the medium-term.'

https://www.thg.com/news/myprotein-launches-into-1-200-boots-stores-nationwide

Beauty sales increased 11% year-on-year, driven by demand for fragrance, premium beauty and skincare.

https://theindustry.beauty/boots-sales-rise-thanks-to-record-breaking-black-friday/

There's a couple of small positives on whey which may offset higher prices, first was the introduction of 'Essential Whey' which is a slightly different grade, this was introduced to help combat higher prices and mitigate some of the increase.

Myprotein having subsidised sales for quite sometime could be forgiven (and accepted) if they finally decide to increase prices, everyone else is doing it so..

Local manufacturing came online in Japan Q4 so we get to see how much that's helped with Yen situation.

THG Group have size to bulk purchase which gives them a big advantage over smaller players, this I think is part of their strategy as they know not everyone is going to come out the otherside.

Market waiting for Trump inauguration on 20th.

The first of a number of visits to China by EU/US officials, Rachael from accounts is currently in Beijing, meanwhile the world awaits Trump inauguration on 20th .

To me its seems glaringly obvious but perhaps I may have missed something, those that would benefit most taking over THG Group would be Ingenuity shareholders.

We have already had an indication of thinking with Matts Linkedin post plus Sofina have upped their stake in THG, all it takes is for a handful of holders to keep nibbling away at the free float thus securing a vote or at least increasing their chances.

The unknown of course is what would happen to the share price once holders started buying, undoubtedly the market would catch on and position themselves accordingly.

Genuine question, what do you think has more impact on the share price, one of Matt's Linkedin posts or:

# High interest rates

# Elevated whey prices

# FX headwinds, notably the Yen

# High inflation

If its Matt's Linkedin posts why are related sector companies on their backside too, Asos, Boo, Ocado, Autostore JD Sports?

I hold more shares than the average daily volume, not sure if that's a comfort or a worry ..but suggests selling volume drying up.

The tech titans are buffering up against monopolies rules, Google already in the sights of DOJ who want to break up search and advertising supporting smaller operations.

Tech giants may want it all but if the landscape becomes noncompetitive then regulators will act, already many fines within EU on related issues.

EU court rules Google must pay €2.4bn fine

https://www.bbc.com/news/articles/cjw3e1pn741o

Google threatened with being broken up by US

https://www.bbc.com/news/articles/c62504lv00do

My guess is topline for both divisions will be fine but margins still under pressure, no one posts or even acknowledges the inflationary pressures which still remain, blaming management is an easy option for poor research.

Major shareholders are supportive because they have portfolios of other companies also under pressure.

Ocado also had billions spent, now sitting at all time lows..THG board did the right thing to jettison Ingenuity out of the spot light, the market is what it is.

Online holiday spending rises nearly 9%

The biggest year-over-year spending growth came from groceries, which jumped nearly 13% to $21.5 billion, and cosmetics, which shot up by 12.2% to $7.7 billion, the data said.

https://www.cnbc.com/2025/01/07/online-holiday-spending-rises-with-discounts-ai-chatbots-adobe-says.html

I think the new logo looks good on sports clothing, symmetrical which is important to the eye but also class with a hint of Rolex.

Gym clothes for men: From Myprotein joggers to outdoor training

https://www.cityam.com/gym-clothes-for-men-from-myprotein-joggers-to-outdoor-training/

Gym clothes for women: From Myprotein joggers to outdoor training

https://www.cityam.com/gym-clothes-for-women-from-myprotein-joggers-to-outdoor-training/

In other news; pound taken a wobble against dollar and yen