10 things you need to know in markets today

Good morning! Here are the 10 things you need to know in markets this Thursday.

It’s a big day for US economic data. Inflation data, unemployment figures, manufacturing data from New York and Philidelphia, and oil and gas statistics are all due from 1.30 p.m. BST (8.30 a.m. ET) onwards.

US manufacturing turned “generally weaker” while the broader economy continued to expand at a moderate pace, according to the US Federal Reserve’s latest Beige Book. The Beige Book is a compilation of anecdotes about the economy from the Fed’s 12 regions.

France’s EDF Energy and Chinese investors are on the brink of signing a deal to build the UK’s first new nuclear power station in 20 years. The Telegraph reports that both parties are close to signing a heads of terms agreement on the new Hinkley Point C reactor ahead of Chinese President Xi Jinping’s visit to Britain next week.

Asian markets are climbing. Japan’s Nikkei is up 0.87% at 6.36 a.m. BST (1. 36 a.m. ET), Hong Kong’s Hang Seng is up 1.69%, and the Shanghai Composite is 1.60% higher.

Puerto Rico and US officials are discussing the issue of a “superbond” to help restructure the commonwealth’s $US72 billion (£46.5 billion) debt, according to the Wall Street Journal. The superbond, which will be administered by the US Treasury Department, would be issued to existing Puerto Rico bondholders in exchange for outstanding debt at a negotiated ratio.

Volkswagen’s pollution cheating programme was developed by dozens of managers, not just a handful of individuals as the company has suggested, news site Spiegel Online reported Wednesday. Preliminary results of investigations carried out by VW and a US law firm suggest that “the emissions fraud was not only created by a small group of managers, as the company claims,” said Spiegel Online without citing its source.

South Africa’s Congress of South African Trade Unions (COSATU) is opposing brewer SABMiller’s £71 billion ($US109.8 billion) takeover by US rival AB InBev. SABMiller has a strong presence in South Africa and COSATU say: “We will never allow a situation where the South African offices of SABMiller are relocated away from South Africa and the local revenues are spiraled out of the country to the detriment of the entire economy.”

Defence contractor and aerospace giant Boeing has paid the United States $US18 million (£11.6 million) to settle whistleblower allegations that it submitted false claims for labour charges to the US Air Force, the Justice Department said on Wednesday. The federal government had alleged Boeing knowingly charged the United States for time its mechanics spent on extended breaks and lunch hours while working on the C-17 Globemaster aircraft at its Long Beach Depot Center in California.

Netflix shares fell as much as 14% in the US on Wednesday after the streaming company missed forecasts with its third-quarter earnings. Earnings per share came in at $US0.07 on revenue of $US1.74 billion (£1.12 billion), below analysts’ expectations.

Square, the US payment processing startup last valued at $US6 billion (£3.8 billion), has filed for IPO. It’s the first time Square’s made its financials available to the public, revealing it’s on track to lose about $US150 million (£96.9 million) on more than $US1 billion (£650 million) in revenue this year.

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