Will raging U.S. bull market get infected by bearish foreign trends?
The bull may still be charging on Wall Street. But the bear is growling overseas.
The good times in the U.S. market, where stocks are trading near record highs as the longest bull run in history rolls on, aren't being enjoyed in many foreign markets, where trade disputes and a strong dollar are hurting growth and pushing stocks sharply lower. Earlier this week, some markets – such as Hong Kong's Hang Seng index, mainland China's Shanghai composite and a broad-based emerging markets exchange-traded fund – fell more than 20 percent from their January highs into bear market territory.
In contrast, the U.S.-focused large-company Standard & Poor's 500 stock index is up nearly 9 percent this year and just a tad shy of its record closing high hit in late August.
The growing debate on Wall Street is whether the disconnect between U.S. and foreign markets can continue.
Bulls see the trend of U.S. stocks doing better continuing, stressing that the domestic market is a haven of sorts. They make the case that the U.S.-driven economy, which grew 4.2 percent last quarter, its fastest pace in four years, is less vulnerable to the downside of global trade disputes. Consumers, responsible for about two-thirds of the nations's growth, are in good shape. Both shoppers and workers are benefiting from the lowest unemployment rate in 18 years, a key factor that lifted profits at U.S. companies last quarter at the fastest pace since 2010.
Bears, or pessimists, counter that the U.S. won't be shielded from slowing growth abroad forever. They warn that the American economy and stock market aren’t totally immune to the slowdown abroad and can’t remain an island – or safe haven – forever. Big companies in the S&P 500 get more than 40 percent of their sales from abroad, so continued weakness in places such as China, Europe and emerging markets will eventually cause both U.S. business and corporate earnings to slow.
September 14, 2018
Sources: USA Today
Britain’s biggest supermarkets within three years despite frenzied efforts to stop them.</p><p>The German discounters are growing so fast that their combined share of the grocery market could eclipse Asda and Sainsbury’s by 2021.</p><p>The historic switch will take place despite moves by the three biggest supermarkets to cut price, which have included Tesco launching Jack’s. The new chain, first reported in The Mail on Sunday, is named after Tesco founder Jack Cohen.</p><p>Newcomer: Tesco has launched Jack’s but Aldi and Lidl are growing faster</p><p>Jack’s will open in St Helens and Edge Hill in Liverpool on October 4, taking total stores to four.</p><p>Aldi and Lidl have embarked on such an expansion drive that the launch of Jack’s and other attempts to fight back may come too late.</p><p>Aldi and Lidl have opened a total of 123 stores in the past year, according to new figures from construction analysts Barbour ABI.</p><p>By comparison the biggest three have opened just ten stores between them – as Britain’s love affair with hypermarkets has cooled and the largest retailers have called off their race for more space.</p><p>On top of this, Aldi and Lidl have fired off 116 planning applications in the same period – mainly stores they hope to build in the years ahead. This compares with just 15 applications submitted by the biggest three, which includes two Jack’s stores. </p><p>Bryan Roberts, at shopper consultancy TCC Global, said: ‘They are closing in. I’ve spoken to a number of supermarket chief executives who say their natural assumption over time is that Aldi and Lidl could have at least 20 per cent of the market between them.’</p><p>Growing: The combined market share of Aldi and Lidl has now hit 13.1 per cent </p><p>The combined market share of Aldi and Lidl hit 13.1 per cent in the 12 weeks to September 9 – an increase of 0.8 per cent on the same period a year before. If that continues for three years they will surpass Asda and Sainsbury’s, currently 15.3 per cent and 15.4 per cent respectively.</p><p> But the encroachment of the discounters could be hastened if Asda and Sainsbury’s are forced to dispose of stores following the announcement in June of their mega-merger.</p><p>Sources, including several senior figures in the grocery sector, said they could be forced to hive off ‘well over’ 100 stores by the Competition and Markets Authority. </p><p>The planned merger has been widely interpreted as a reaction to the irrevocable changes inflicted on the supermarket sector by Aldi and Lidl, as well as concerns that food retailing could be under threat from Amazon.</p><p>Sainsbury’s chief executive Mike Coupe and Asda boss Roger Burnley have insisted their chains will be run separately.</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
goods</p><p>By all appearances, what you got for your money was a genuine 4TB hard drive manufactured by the perfectly reputable company Western Digital. There was no way to tell that it was a fake until it went wrong and you needed to invoke the warranty – which was supposed to protect you for up to five years.</p><p>You complained to the seller but got no reply. When you complained to Amazon it told you: 'You can file a claim under our A-to-Z safe buying guarantee up to 90 days after the order date if you provided payment to the seller via Amazon Marketplace, but the seller failed to deliver the item.'</p><p>You could also claim under the guarantee scheme if you received the item 'but it was materially different than depicted in the seller's description.' Finally, you were protected if the item was defective 'and you notified the seller within 30 days of receipt'.</p><p>Then came the sting in the tail. Amazon said that as your purchase was more than 90 days earlier, 'these conditions have expired'. With no sense of irony, the writer added: 'I hope this helps. We look forward to seeing you again soon.'</p><p>You asked me: 'How would anyone spot a well counterfeited product?' The 90-day time limit was a loophole that made Amazon's guarantee worthless.</p><p>As I only recently took up a complaint with Amazon Marketplace when a reader who paid £259 for an iPad received only a cheap piece of plastic, I went back to the company. I asked how your experience squared with the guarantee it offered.</p><p>The result was quick – and remarkable. Twenty-four hours later, you received an email from Amazon. Almost as if nothing had happened and you had not already been turned down for a refund, the email apologised for the difficulties with your purchase and assured you that full reimbursement had now been made to your credit card.</p><p>Amazon has given me a long-winded statement explaining what it does to combat fake goods and remove crooked sellers from Amazon Marketplace.</p><p>But from the point of view of consumers, the key passage says: 'Customers are always protected by our A-to-Z guarantee, whether they make a purchase from Amazon or a third-party seller. If the product does not arrive or is not as advertised, customers can contact our customer support for a full refund of their order.' Interestingly, there is no mention of a 90-day time limit, so perhaps Amazon has taken on board that spotting a fake is far from easy until it goes wrong.</p><p>Another week, another problem with Smart Investor, the service that took over from the previously competent Barclays Stockbrokers. All you wanted was to switch your Isa to another provider, which should at most take weeks. What you got was a series of letters from Barclays, promising an update on your request by a later date. But when that date arrived, you received a fresh letter promising another future update. Finally, you received a letter from Yorkshire Building Society, saying Smart Investor had told it there were ‘various issues’ delaying the switch. You had to meet Smart Investor’s unspecified ‘requirements’ and confirm you still wanted to go ahead.</p><p>I tracked down one reason for the delay. Barclays sent a cheque to Yorkshire for your new account, but put the wrong name on it. An official told me: ‘We sincerely apologise to Mrs H for the delay in completing her request to transfer cash from the sale of her Isa investments. It does not reflect the level of service she should rightly expect from us.’ The transfer has been completed and the bank has sent you £350 to make up for the mistakes.</p><p>I contacted Green Star, only to be told the company could not trace me. I explained I was not the customer – you were – and that I had provided your account number.</p><p>Next, Green Star sent me a stock letter, saying: ‘If we have not resolved your complaint within 40 working days, you can ask the Ombudsman to look at your case.’</p><p>I had to remind Green Star that this would be impossible for the same reason as before – I was not its customer. Finally, this got through to someone senior. Green Star promised mandatory refresher training for its advisers and an overhaul of its complaints procedures.</p><p>It appears that right at the start, Green Star gave poor advice on the amount it could save you. Although your consumption decreased, your bills rose. There was also a discrepancy in the way gas units were calculated from your meter readings.</p><p>So, forget the £2,564 and the £73. You actually owe nothing. Green Star is now paying you £721 as a result of recalculated bills and compensation. That is more like it.</p><p>Two weeks ago I reported that five fraudsters had just been sentenced for running an investment scam exposed by The Mail on Sunday as long ago as 2011. </p><p>Now their boss Michael Nascimento has followed them in facing justice after his sentencing was delayed because of a separate prosecution for money laundering.</p><p>Ringleader: Nascimento was convicted of money laundering</p><p>Between 2010 and 2014, Nascimento and his gang cheated investors out of £2.8 million by selling shares in a holiday villa development on the island of Madeira. In 2011 and again in 2012, I warned that the investment scheme was illegal and that none of the gang was authorised to offer shares to the public.</p><p>Nascimento has now been sentenced to 11 years in jail for the Madeira fraud, following a prosecution brought by the Financial Conduct Authority. At Southwark Crown Court, His Honour Judge Hehir praised the regulator for building a ‘formidable case’ against Nascimento, adding that many victims had suffered ‘life-shattering losses’.</p><p>Separately, a City of London Police investigation into a carbon credits investment fraud found that Nascimento laundered the proceeds that victims paid into two corrupt companies, Harman Royce Limited and Kendrick Zale Limited.</p><p>He was sentenced to a further two years in prison, increasing his total jail time to 13 years.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
paycheck into accounts controlled by the cyber crooks. </p><p>So, take a little extra time to verify that your paycheck hit your bank account. And beware of any official-looking emails related to company surveys, too. </p><p>According to the latest alert from the FBI, cybercriminals have been targeting online payroll accounts at school districts, universities, hospitals and commercial airway transportation. </p><p>Yet scammers have been known to target all types of businesses using all types of payroll providers, according to a report last year in PYMTS.com.</p><p>In some cases, employers discover the payroll-related scam only when employees start complaining that they did not receive their money via direct deposit. </p><p>The FBI reportedly has observed an increase of such scams. In 2017, the FBI and the Internet Crime Complaint Center identified about 17 payroll-related scam cases.</p><p>As of July, though, about 47 payroll diversion cases — with losses totaling $1 million — had been reported.</p><p>The scam starts out with a phishing email that aims to trick someone into handing over an employee's login credentials. Scammers will use social engineering to make emails look real, and they might appear to come from an address similar to a legitimate company account.</p><p>The credentials can then be used to access the employee's payroll account in order to change the direct deposit. The crooks typically have that money directly deposited onto prepaid cards. </p><p>The crooks then use the prepaid bank cards to receive cash withdrawals from ATM machines. Or they may make purchases at gas stations, grocery stores, retail stores, fast food restaurants and wireless phone carrier providers. </p><p>Atlanta Public Schools, for example, had to reissue 27 paychecks last year after cyber thieves engineered a payroll attack, according to a report in the Atlanta Journal-Constitution. Scammers stole about $56,000 in payroll. </p><p>The FBI is warning employers to alert their staff about such schemes. Employees should not supply log-in credentials or personally identifying information in response to any email.</p><p>We've warned in the past that scammers had been spoofing emails to pretend to be the CEO or some other top executive at the company and demanding a long list of W-2 files via PDF format. Immediately.</p><p>The Internal Revenue Service issued an alert a few years ago to payroll and human resources professionals warning them to think twice about responding so quickly to the boss. Some of that information could be used to file fake tax returns to generate fraudulent tax refunds. </p><p>But this latest development is another warning on how we all have to once again watch out for phishing emails that could unleash information to be used divert paychecks to crooks. </p><p>Sometimes, according to payroll experts, this phishing email may request that an employee answer a brief survey and hit "confirm." The problem is that the employee is then directed to enter their credentials in an online form to confirm their identity.</p><p>Authorities also noted that in some cases, cyber crooks might pick up the phone to call the employee resource hotline, provide the employee ID number and the last four digits of the Social Security number to reset a password, as part of the process to redirect the direct deposit. </p><p>No doubt, plenty of paychecks continue to be directly deposited into accounts without any problems. But the latest warning gives us reason not to take too much for granted any longer. </p>
in your kitchen, there's a good chance you've already invested in a better box grater than this spare, four-sided product from Spring Chef. However, if you've just moved and need to re-up your kitchen essentials or you're thinking about getting more seriously into cooking and meal prep, a decent grater can go a long way. This grater is a good way to try your hand at the grating game without forking out a bunch of money on a more "prosumer" type product. With 1,500+ reviews and a 5-star rating on Amazon, I'm willing to bet you won't be the first aspiring chef to do so.</p><p>Normally priced at $99, you can get the Cordoba UP100 ukulele pack for $79 this weekend. Often considered the perfect size for a child (and generally much cheaper, in a 1:1 quality consideration ratio, than child-size guitars), ukuleles are very popular ways to give your child (or yourself) the gift and grit of making music without buying something that's so cheap it'll only frustrate. I own multiple Cordoba guitars myself, and have played the company's ukuleles before. This all-mahogany ukulele is a great starter instrument for aspiring strummers of all ages, and thanks to the fact that ukuleles are in an "open" tuning (meaning the open strings describe a harmony/chord already), it's very easy to start plunking out pretty little numbrs as soon as you get it in tune. This pack comes with the ukulele, a digital tuner, a travel gig bag, a chord/lesson book, and two picks. Start making music!</p>
more freebies and deals for the first day of summer.</p><p>On Saturday, there's a small bunch of bargains to welcome fall.</p><p>And one of the best is from Wendy's. For the last couple of weeks, the fast food chain has been giving away free cheeseburgers daily to customers who present a coupon on its mobile app.</p><p>While the burger deal continues through Sept. 30, starting on the first day of autumn and continuing through Oct. 7, Wendy's is giving away free salads too. </p><p>With Wendy's mobile app and any other purchase, get a half-size Harvest Chicken Salad. The app is available for Apple and Android devices.</p><p>The new salad is the chain's first fall salad and features apples, brown sugar walnuts, feta cheese, smoked bacon, warm grilled all-white meat chicken breast and apple cider vinaigrette.</p><p>Unlike the free burger promotion, there's a limit of one free half-size salad per mobile account. The fine print of Wendy's coupon also notes "limit one offer per customer per visit."</p><p>For a limited time, Wendy's is also selling small Frosty treats for 50 cents.</p><p>Take advantage of these deals at participating locations Sept. 22, while supplies last. Offers vary by location.</p>
bs up as they picked up cut-price groceries and homeware goods.</p><p>Hundreds queued up in the rain as the first Jack's discount store opened for business today, with customers boasting that prices are 'on a par with Lidl and Aldi'.</p><p>The store in Chatteris, Cambridgeshire, opened its doors to the public first thing this morning alongside a second store in Immingham, north-east Lincolnshire.</p><p>The new brand is being widely hailed as a challenger to Aldi and fellow discount store Lidl, which have eaten into the market share of Britain's so called 'big four' supermarkets.</p><p>The Chatteris store enjoyed a successful first morning with hundreds pouring through the doors when it opened to the public at 10am. </p><p>Shoppers armed with trolleys and baskets make their way into Jack's store in Cambridgeshire for the first time today</p><p>Jack's has certainly proved popular, but how do prices compare with rivals such as Asda, Aldi, Lidl and Sainsbury's?</p><p>Hundreds of shoppers queued up as Tesco's first new Jack's discount stores opened for business today in Cambridgeshire </p><p>Shopper Delia Fernandez (pictured) arrived at 3am to be first in line at the Chatteris store, which opened at 10am with a ribbon cutting and a shower of confetti</p><p>The store will also have special buy bins (pictured), similar to those seen in Aldi and Lidl, which will be called 'when they're gone, they're gone' bins</p><p>First customer Lee Fuller shows off his bill, after purchasing a TV. The vast majority of Jack's products will be own brand, as Tesco looks to take the fight to budget behemoths Lidl and Aldi</p><p>Shoppers have given Tesco's new discount store (the first ever is shown in Cambridgeshire) a big thumbs up as they picked up cut-price groceries and homeware goods</p><p>The launch of Jack's is part of Tesco's centenary celebrations which will see the business mark 100 years in 2019. Jack Cohen founded Tesco 99 years ago in 1919</p><p>'Really for me it is the branded stuff because that is what Aldi lacks so I want to see what is extra. I have seen that they have a bakery which is a nice touch because I can come here for my bread and get it at a good price.</p><p>'Having a Jacks here now will be great for competition and will hopefully keep prices down in other places. We can just hope it does not jeopardise the quality of the food.' </p><p>'The bargain bins were great, I did not get anything from there today but I am a dreadful one for the middle isle and I will be back to have a good look through them when it is less busy. </p><p>He said: 'I just thought I would stop by this morning to see what it was all about.</p><p>'I didn't think I would be the first customer in the whole shop to buy something.</p><p>'The shop looks pretty good inside. I did not expect it to be so visually pleasing but it looks very nice inside.</p><p>Chef Alison Birch, 47, was full of praise for Jack's</p><p>It is such a rare thing in the food industry to have a new retail outlet launching and I want to see how it stacks up against the other discount stores.</p><p>'I think that it is great that they are promoting British food and eight out of ten of their products are British which is excellent for local farmers and food production companies.</p><p>'It will be interesting to see what happens with the other budget stores in the area.</p><p>'The question will be whether Tesco can compete and judging by today, I think they can.'</p><p>By 11am the budget supermarket was overflowing with customers, filling their trollies with food, as well as bargain household items such as televisions from the When It's Gone It's Gone aisle.</p><p>Shopper Delia Fernandez, 41, arrived at 3am to be first in line at the Chatteris store, and told of her pride at picking up a backpack for just £5.</p><p>'I wanted to see the different bargains that they've got and to have a good look,' she said.</p><p>'There is so much stuff in the middle isle bargain bins that I will be coming back to get. There are some real steals in there. My backpack was only £5 and I think that is really good and great value.'</p><p>Emily Tyas, 32, from Chatteris, who works as a school supervisor, said: 'I bought a whole load of fresh bakery goods that were so well priced and seem to be great quality.</p><p>'I also bought an iron. I would say that the prices are round about on par with Lidl and Aldi. I liked the look of the bargain bins. There are so many little goodies that I will be coming to get for the kids at Christmas.'</p><p>Retired mechanic Mark Burton, 48, of Chatteris, said: 'It's more competition, bringing in better prices for the town.'</p><p>Up to 15 of the stores, named after Tesco founder Jack Cohen, will open over the next year.</p><p>Most products will be Jack's own brand and the chain will have 2,600 lines.</p><p>Retired builder William McPherson, 72, of Chatteris, said: 'There's a good selection of goods there.'</p><p>He added prices were 'comparable with Aldi' and he liked the layout - 'there's plenty of room so you're not crammed up'.</p><p>The launch of Jack's is part of Tesco's centenary celebrations which will see the business mark 100 years in 2019. </p><p>Jeevan Gunaratnam, 48, who emerged with a trolley full of shopping, lives in London but decided to visit Jack's as he was in the area.</p><p>The medical sales worker said: 'I occasionally shop in some of the other German stores like Lidl and Aldi so I was curious as I was nearby and thought I would just have a look, and I was really impressed.</p><p>'I think prices are good, I think the whole package Tesco has put together for Jack's is really good and I think it will be a really good addition to the high street.'</p><p>He said he usually shops at Tesco, Lidl and occasionally Waitrose, but added if he had a local Jack's store 'I think it would influence me to go and buy some things'.</p><p>'Obviously there's not the full range but I think for the stuff you need day-to-day it's got some really good lines,' he said.</p><p>Up to 15 of the stores, named after Tesco founder Jack Cohen, will open over the next year.</p><p>Most products will be Jack's own brand and the chain will have 2,600 lines.</p><p>Retired builder William McPherson, 72, of Chatteris, said: 'There's a good selection of goods there.'</p><p>He added prices were 'comparable with Aldi' and he liked the layout - 'there's plenty of room so you're not crammed up'.</p><p>A customer browses food in Jack's store in Chatteris, Cambridgeshire, as it opens to the public for the first time today</p><p>The first ever Jack's customers are clapped into the store by staff members this morning, clutching onto Jack's-branded tote bags </p><p>The store will look to offer less choice for smaller prices, as shoppers increasingly favour convenience stores rather than the large-format supermarkets</p><p>Tesco said that eight out of 10 Jack's food and drink products will be 'grown, reared or made' in Britain and stores will stock an own brand range, also branded Jack's</p><p>Tesco has unveiled its new Jack's discount store in Chatteris, Cambridgeshire. </p><p>Here is how a selection of the shelf ticket prices compare with those at the Chatteris branch of Aldi, less than a mile away (cheapest price in green):</p><p>Lee Fuller, 36 who works for a recycling company, was the first customer through the tills. He said: 'I just thought I would stop by this morning to see what it was all about.</p><p>'I didn't think I would be the first customer to buy something. The shop looks pretty good inside. I did not expect it to be so visually pleasing but it looks very nice inside. I picked up a few household goods and a TV.'</p><p>Chef Alison Birch, 47 from Bracknell, added: 'It is such a rare thing in the food industry to have a new retail outlet launching and I want to see how it stacks up against the other discount stores.</p><p>'I think that it is great that they are promoting British food and eight out of ten of their products are British which is excellent for local farmers and food production companies.</p><p>'It will be interesting to see what happens with the other budget stores in the area. The question will be whether Tesco can compete and judging by today, I think they can.'</p><p>Housewife Stephanie Allen, 54 from Chatteris, added: 'The bargain bins were great, I did not get anything from there today but I am a dreadful one for the middle isle and I will be back to have a good look through them when it is less busy.</p><p>'I came here today because I want to compare the prices to the Aldi down the road and to see if the quality is any better. Really for me it is the branded stuff because that is what Aldi lacks so I want to see what is extra. </p><p>'Having a Jacks here now will be great for competition and will hopefully keep prices down in other places. We can just hope it does not jeopardise the quality of the food.'</p><p>Tesco hope that Jack's will take on German duo Aldi and Lidl, which have eaten up their market share by offering products at knock down prices</p><p>Up to 15 stores will open over the next year, with five existing Tesco properties being repurposed and the remainder being new outlets</p><p>Jack's will offer named brand items along with hundreds of own-brand products, with baked beans costing just 29p a tin</p><p>Lee Fuller, 36 who works for a recycling company, was the first customer through the tills, and bought a flat-screen television</p><p>Tesco traces its roots back to 1919, when 20-year-old Jack Cohen began selling groceries from a stall in London's East End.</p><p>Born in 1898, Cohen grew up in Whitechapel, east London, the child of Jewish parents.</p><p>He began his working life as an apprentice tailor to his father but the pair eventually became estranged after Cohen informed him of his wish to begin a career as a grocer.</p><p>In 1917, he volunteered to join the Royal Flying Corps where his tailoring skills were employed by senior officers to make balloons and other aircraft.</p><p>After a military career that saw him serve in Egypt, Palestine and France, he was eventually demobilised in 1919 after contracting malaria and returned to England.</p><p>Upon returning after the First World War, he was reluctant to continue his work as a tailor, and set up a marker stall in Hackney purchasing surplus NAAFI (Navy, Army and Air Force Institutes) stock with his £30 demob money.</p><p>He soon owned a number of stalls and set up a wholesale business.</p><p>He came up with the Tesco name in 1924 after buying a shipment of tea to start selling his first own-label products. </p><p>Cohen used the initials from the tea supplier TE Stockwell and combined them with 'Co' from his surname, creating the soon-to-be famous brand name of 'TESCo'.</p><p>After marrying Sarah 'Cissie' Fox in the same year, he opened the first Tesco in Edgware in 1929 and by 1939 owned 100 stores.</p><p>Father-of-two Cohen, knighted in 1969, became known for his motto 'pile it high and sell it cheap'. He died aged 80 in 1979.</p><p>After marrying Sarah 'Cissie' Fox (pictured), Cohen opened the first Tesco in Edgware in 1929 and by 1939 he would own 100 stores</p><p>How sad is that. Queuing up to get cheaper bread ...</p><p> The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
y, pushing forward toward the 10th anniversary of the beginning of the current bull market.</p><p>Many investors have been worried about the potential for a big downturn. Yet when you look beyond the borders of the U.S., you can already find many bear markets in what were formerly some of the highest-growth areas of the world.</p><p>Emerging markets have been under pressure in 2018, as a combination of rising U.S. interest rates and the threat of global trade barriers has caused a major reversal in interest in emerging market stocks.</p><p>With many emerging market nations having relied on borrowing in U.S. dollars, currency crises have hit two countries especially hard.</p><p>Stock markets in both Turkey and Argentina have seen losses of more than 50 percent this year, as their central banks have had to boost interest rates dramatically to try to stem capital flight from their borders. Yet even though their losses are less severe, the declines that China, Brazil, and South Africa have suffered could potentially have an even greater overall impact on emerging markets globally. Given these three nations' reliance on trade, any further escalation in the trade disputes that the U.S. has had this year could weigh on their markets even more.</p><p>It's easy for U.S. investors to ignore what's happening elsewhere in the world, especially when returns in the markets they follow most closely are strong. But what's happening in emerging markets could spread and cause trouble even for the high-flying U.S. stock market if the problems those nations face can't get solved quickly.</p><p>Tom and David just revealed their 10 top stock picks for investors to buy right now.</p>
estimates for tests that promise to trace people's ethnic origins, resulting in a flurry of anxious social media posts when this dramatically changed their ancestral homelands. </p><p>Some users were peeved to suddenly hear they were more French than Italian, or German than French, raising questions about these popular kits — and about a science that's only recently been introduced to consumers. </p><p>The explanation behind the overhaul points to how rapidly these genealogical tests are expanding. They've proved remarkably popular with consumers, offering a chance to see a genetic break-down of a person's ancestry for under $100 in many cases. </p><p>And that means companies like Ancestry.com and 23andMe have been able to increase the specificity of their results in recent years, allowing for predictions that wouldn’t have been possible when the technologies were first introduced.</p><p>Ancestry, for example, has 10 million people in its DNA database. Some of those give it permission to use their information to expand the collection of genomes a customer might be compared with. This allows much greater specificity. A person might be told they have ancestors not simply from Norway, but central Norway. Or not just Native American from Mexico, but from northwestern Michoacán. </p><p>“These very large customer databases, with millions of people, enable these companies to sometimes deliver more fine-scale insights into population history,” than scientists can, said Alicia Martin, a geneticist at the Broad Institute and the Analytic & Translational Genetics Unit at Massachusetts General Hospital.</p><p>When Catherine Ball, Ancestry’s chief scientific officer, started with the company seven years ago, the deepest they could go was to the continent level.</p><p>“We were only able to break down your origins between Europe, Africa and Asia. Now we give you the specificity that you have not only had ancestors that lived in Ireland, but that they lived in Cork, Ireland,” she said.</p><p>Just a year ago, 23andMe identified 31 populations when it reported a person’s ethnicity. This year that number has expanded to 160. That’s possible because of advances in the technology and the broadening of the population samples used, the company said.</p><p>Even customers who did their tests before the databases were expanded have their analysis re-run, and sent an update. That’s what happened in the Ancestry case.</p><p>Genealogical DNA testing companies look at hundreds of thousands of locations on a person’s genome and compare them with databases of known DNA samples, giving customers information about what population groups their ancestors might have come from.</p><p>They do that by taking a sample of their customer’s DNA from their saliva, which is mailed to the company. The companies then compare points on the customer’s DNA with patterns found on those same points in public and proprietary databases of human genomes. </p><p>The size of those databases is key to their specificity. The more people you have to compare with, the better match. That’s why the companies are all working to increase the number of people whose genomes they have to compare with. That’s especially an issue for populations outside of Europe because there is less data available about them. </p><p>“What’s powered (the increase in specificity) is collecting more of the diversity that exists across the planet. Early on we had a lot of data about Europe. As we’ve grown and expanded, we’ve increased into East Asia, and just a few weeks ago we released an update for African-Americans, that was made possible through specific efforts we made to collect samples from people from Africa,” said Robin Smith, a senior ancestry manager at 23andMe. </p><p>The collection comes in part by asking customers where their grandparents were born and then asking people who have four grandparents from the same country whether they would allow their information to be part of a reference panel, he said. </p><p>Another way to increase genetic diversity in a company’s panel is doing community events with people whose ancestors aren’t well-represented.</p><p>The business model is very new. Family Tree DNA, the first company to offer genealogical testing to individuals, only launched in 2000. Today there are five main companies in the United States offering genealogical testing, including 23andMe, AncestryDNA, National Geographic, MyHeritage and Living DNA. </p><p>Along with their popularity has come controversy. Some scientists note that because none of them release their reference panel data, it’s impossible to evaluate them.</p><p>“For it to be scientifically valid, the methods and the information have to be available to research scholars so the methods can be tested to make sure they’re predictable and can be replicated,” said Sheldon Krimsky, a professor of public health and community medicine at Tufts University in Boston.</p><p>Privacy advocates worry that the companies can and does sell anonymized genetic information to drug companies. And scientists have more doubts about their ability to predict diseases, another offering by some of these firms. </p><p>“There are very few diseases where you can say for certain that if you have Gene X, you’ll get Disease Y. But the other side, which we all believe in, is the ancestry,” said Dr. Esteban Burchard, a professor of pharmaceutical science at the University of California, San Francisco and a noted researcher in the effects of genetic differences on drug effectiveness.</p><p>Reached in Kenya, where she is teaching statistical genetics and bioinformatics, Martin said for her, these tests are incredible resources of genetic data that are paving the way towards widespread public acceptance and regular use of genetic information for learning about population history and improving health outcomes. </p><p>“It's hard to think of any other single clinical test that has the potential to cut across so many biomedical domains, such as cardiovascular, psychiatric, and autoimmune disease risk,” she said via email.</p>
s month but a decline in wholesale costs have raised the likelihood of a supermarket price war.</p><p>Petrol peaked at 131.38p per litre by Tuesday - its highest price since July 2014 - according to new figures from the AA. On the same day diesel reached 134.39p per litre - its highest level since August 2014.</p><p>However, the AA's Fuel Price Report found that after 12 weeks of constantly rising pump prices, wholesale petrol costs have slumped 3p per litre this month.</p><p>Price increase: Petrol and diesel pump prices hit new four-year highs this month despite a decline in wholesale costs, raising the likelihood of a supermarket price war</p><p>Over the past month, the average price of petrol has risen 1.8p per litre from 129.54p while diesel has gone up two pence per litre from 132.33p.</p><p>Supermarkets are now averaging 128.1p per litre for petrol while oil company and other retailers average 132.7p per litre. With crude oil climbing towards $80 a barrel, drivers have been fearing the worst.</p><p>But a combination of falling refining margins and a stronger pound should force a correction in pump prices – providing retailers choose to pass on the savings.</p><p>At the start of this week, European gas margins were reported to have fallen to a three-month low.</p><p>So far this week, commodity petrol for the UK market has averaged $725.5 per tonne with Brent crude averaging $78.9 per barrel.</p><p>In the final week of August, commodity petrol averaged $730 per tonne with oil at $70.3 per barrel.</p><p>On the rise: Petrol pump prices continued their upward trend this month</p><p>Such a drop in the value of commodity petrol compared to oil happened at the same time last year, reflecting the end of the US motoring season.</p><p>With oil and fuel in commodity markets traded in dollars, a recent strengthening of the pound has worked in drivers' favour. </p><p>Luke Bosdet, the AA's fuel price spokesman, said: 'Drivers were told earlier this month that there was "no end in sight" to rising pump prices. </p><p>'Now, they should be looking for a £1.50-a-tank cut in petrol costs.</p><p>'The key question is to what extent and how quickly the fuel retailers decide to pass on the savings.</p><p>Big advances: Diesel prices also increased during September</p><p>'In the past, such a significant drop in wholesale prices would have triggered a pump price battle among the supermarkets.</p><p>'For the moment, drivers should keep an eye out for competitive oil company sites taking the opportunity to undercut expensive supermarket sites.'</p><p>Bosdet added: 'The influence and fuel pricing policies of supermarkets have taken on a particular importance this week with the Competition and Markets Authority referring the Asda and Sainsbury's merger for investigation.</p><p>'This week's jump in UK inflation to 2.7 per cent, partly due to higher transport costs, also underlines the significance of pump pricing on consumers.' </p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>
gers opposing Unilever's plan to shift its HQ to Rotterdam and leave the FTSE 100.</p><p>The future of Unilever, the consumer giant that is home to Marmite, Dove soap and Magnum ice cream, is an important issue for Train as he holds the stock in his funds – Lindsell Train UK Equity and Lindsell Train Global Equity.</p><p>It's his biggest holding in the global fund, accounting for £7.89 of every £100 savers invest, and second largest in the UK fund investing where £9.73 in every £100 is in Unilever. </p><p>Veteran investor Nick Train is among several UK fund managers opposing Unilever's HQ move</p><p>Train also holds Unilever in two investment trusts. The Finsbury Growth & Income invests £9.44 of every £100 in Unilever, the second-largest holding.</p><p>And it's the fifth-largest holding in the Lindsell Train Investment Trust, committing £5.50 of every £100. Train said he will vote against Unilever's proposal as it would make the funds he manages 'forced sellers at a time and a price not of our choosing'.</p><p>He said: 'The proposal introduces a new risk that they have not previously faced.'</p><p>His positions in Unilever look chunky, which is down to his unique investment style. 'He runs a very concentrated stock selection,' says Jason Broomer of the investment research group Square Mile. 'It's usually in the low twenties – and these have barely changed.'</p><p>The last new stock was in 2017 when Train, 59, bought Manchester United for the UK Equity portfolios.</p><p>He owned shares in the club previously – and made a lot of money – but sold out in 2005 when it was taken over by the Glazer family.</p><p>Train has described his search for solid franchises or consumer brands that control and grow their business over time as looking for 'rare and beautiful assets'.</p><p>'He's not interested in Brexit or interest rates or inflation' says Mark Dampier of Hargreaves Lansdown.</p><p>The figures are impressive. The Lindsell Train UK Equity Income fund is worth £5.8bn. It has turned £10,000 into £18,459 over five years. The £5.3billion Lindsell Train Global Equity fund turned £10,000 into £26,167 in five years.</p><p>That's trumped by Lindsell Train Investment Trust, which has turned £10,000 into £34,348 over five years, a performance that saw it top an Association of Investment Companies list for the second consecutive year as most consistent performer over 10 years. </p><p>The £1.4billion Finsbury Growth & Income Trust was in second place. Over five years it has turned £10,000 into £16,665.</p><p>Aside from Unilever, Train has been loyal to Diageo, the global drinks company</p><p>Aside from Unilever, Train has been loyal to Diageo, the global drinks company. He also holds Hargreaves Lansdown and the London Stock Exchange in the UK fund. Global holdings include World Wrestling Entertainment and Paypal.</p><p>With such a low turnover of stocks, investors might be curious as to what Train does with his working week.</p><p>'This is a question I have asked him myself,' says Broomer. 'The answer lies in the rows and rows of books that line the walls of his office. He reads any and every book imaginable on the world of investing and business.'</p><p>Prospective investors will be glad to know Train is planning to be involved with Lindsell Train for at least ten years. Meanwhile the £168million Lindsell Train Investment Trust is trading at an eye-watering 44 per cent premium, raising the barrier for would-be investors.</p><p>Ryan Hughes at broker AJ Bell says: 'While he has an exceptional track record, there is no guarantee this will continue forever.'</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p>Your comment will be posted to MailOnline as usual.</p><p>Do you want to automatically post your MailOnline comments to your Facebook Timeline?</p><p> We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. To do this we will link your MailOnline account with your Facebook account. We’ll ask you to confirm this for your first post to Facebook.</p><p>Work out how a lump sum or regular monthly savings would grow</p><p>Find the top deals in our independent best-buy tables</p><p>Part of the Daily Mail, The Mail on Sunday & Metro Media Group</p>