MediaGuardian’s top storiesMary Berry to leave Bake Off – but Paul Hollywood agrees to stay
Sweet Mary Berry, the lost key ingredient in Bake Off’s baked Alaska
Alex Graham appointed as seventh chair of the Scott Trust
Google to invest $1m in YouTube Creators for Change
Publishers call on government to help over Google and Facebook
Colin Firth was told to dye hair for Pride and Prejudice as he was ‘too ginger’
The big story
And so now we know. Mary Berry and Paul Hollywood will be split asunder, the former sticking with the Beeb and following Mel and Sue out of the Bake Off tent, and the latter tagging along with the big-money deal to Channel 4.
Whatever the reasons for their different choices, the next big question will of course be who replaces the absent trio next to Hollywood. There are of course plenty of stars and probably even bakers who will be eager to step in.
Yet the fundamental thing Channel 4 will be worrying about is whether it’s the format or the people that made Bake Off a ratings winner. Recent evidence from Top Gear’s first stint without Clarkson and co does not bode well.
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Instagram says it has signed up half a million advertisers, reports the FT (£)
M&C Saatchi has seen a fall in revenue after client losses, according to Brand Republic (£)
Viacom has had its credit rating cut to just above junk by Moody’s, reports Variety
And finally...Ever the canny marketers, PornHub has launched a scholarship to help women studying science and technology subjects. Some might call it a cynical attempt to mitigate the site’s seedy image, but on top of the introduction of audio descriptions for deaf people, it’s difficult to argue that they are doing some good.
Friday 23, 2016
4:57 am ET
Kenan MachadoAsian shares were mixed, some markets boosted by central banks’ deciding to stick with easy-money policies, with Japanese stocks weighed down by a strong yen.
Australia’s S&P/ASX 200 XJO, +1.06% closed up 1.1%, making its gain for the week 2.5%. South Korea’s Kospi SEU, +0.21% rose 0.2%, while Singapore’s Straits Times Index STI, +0.38% was flat.
Tokyo’s Nikkei Stock Average NIK, -0.32% fell 0.3%, after the yen USDJPY, +0.01% strengthened Thursday — when Japanese markets were closed for a holiday — following the Federal Reserve decision to keep U.S. rates unchanged. Still, the Nikkei gained 1.4% for the week.
The yen retreated slightly against the U.S. dollar on Friday on the possibility Japanese finance officials — who met Thursday — would respond to its latest show of strength.
Shares of key Japanese exporters were among the major decliners on Friday, with Honda Motor Co. 7267, -2.37% falling 2.4% and Toyota Motor Corp. 7203, -3.16% down 3.2%.
Some financial stocks fell on profit-taking after they got a boost Wednesday from the Bank of Japan’s latest policy actions. Dai-ichi Life Insurance Co. 8750, -3.24% declined 3.2%, while Mitsubishi UFJ Financial Group 8306, -1.54% retreated 1.5%.
“We are seeing some pullback (in stocks), but BOJ’s communication is getting better,” says Hideyuki Ishiguro, a senior strategist at Daiwa Securities. “Now that the target is on the interest rate, there is greater latitude for easing.”
Hong Kong’s Hang Seng Index HSI, -0.31% fell 0.4%, giving up some of Thursday’s gains, though property developers gained. They stand to benefit from the Fed’s rate decision, as Hong Kong’s interest-rate movements mirror those of the U.S., the local currency being pegged to the U.S. dollar. Among Hong Kong developers, Wharf Holdings 0004, +0.78% rose 0.5%, while Sun Hung Kai Properties SUHJY, -0.84% 0016, +0.25% added 0.3% and CK Property 1113, +0.35% gained 0.4%.
The 500 million users affected by the 2014 Yahoo hack are victims of the rising data breach issue across the world. Here’s a look back at the last few years’ biggest breaches.
Overall, investors remain cautious as they assess the broader impact of the Fed action, said Linus Yip, chief strategist at First Shanghai Securities in Hong Kong. Though short-term rates remain unchanged, “there is a good chance rates will rise in December,” he said, adding that profit-taking is already evident in some markets.
Elsewhere in the region, the U.S. dollar was recently trading 0.2% higher against the Philippine peso USDPHP, +0.4034% . A worsening view of the Philippine economy — the result of unease regarding President Rodrigo Duterte — is hurting the peso, traders say. The Philippines’ benchmark PSEi PSEI, -0.50% was last down 0.5%, among the region’s biggest declines Friday.
In Korea, shares of distressed shipping giant Hanjin Shipping Co. 180640, -0.26% wobbled through the day, ending down 6.9% after surging as much as 18%.
The company was offered a combined $100 million from its main creditor and largest shareholder to help get its stalled global supply chain moving, and it said it secured an injunction against the seizure of its ships in German ports and was seeking similar court protection in other countries. Also, South Korean Finance Minister Yoo Il-ho said that most of the company’s container fleet will complete offloading cargo at ports around the world in about a month.
— Kosaku Narioka, Ewen Chew and In-Soo Nam contributed to the article.
U.S. Stock Market Future Indications
Friday 23, 2016
6:23 am ET
Victor ReklaitisU.S. stock futures edged lower Friday, putting the equity market on track to catch its breath after three straight days of gains.
Stocks remain set for a sizable weekly win, which has come as traders cheer the Federal Reserve’s latest policy announcement. The Fed on Wednesday stood pat on interest rates, but also indicated confidence in the U.S. economy and signaled a rate rise could come by year’s end.
Investors on Friday are waiting for a report on manufacturing due after the opening bell, as well as a number of Federal Reserve speakers and a reading on North America’s oil-rig count.
S&P 500 futures ESZ6, -0.14% declined by 2.80 points, or 0.1%, to 2,165.50, while Dow Jones Industrial Average futures YMZ6, -0.09% shed 12 points, or 0.1%, to 18,287. Nasdaq-100 futures NQZ6, -0.13% lost 6 points, or 0.1%, to 4,880.25.
On Thursday, the S&P 500 SPX, +0.65% closed 0.7% higher, and the Dow DJIA, +0.54% gained 0.5%, or 99 points. The tech-heavy Nasdaq Composite COMP, +0.84% added 0.8% and notched another record closing high, as the S&P finished 0.6% below its mid-August record close, and the Dow ended 1.3% off its peak. The three gauges were up between 1.5% and 1.8% for the week, as of Thursday’s close.
With stocks rallying in the past week, Bank of America Merrill Lynch strategists have warned about the potential for too much exuberance. BAML’s “Bull & Bear Indicator” is in neutral territory, but “we expect this to rise in coming weeks as investor bullishness begins to rise,” possibly resulting in a “sell signal,” said Michael Hartnett and his team in their weekly “Flow Show” note.
Other markets: Oil prices CLX6, +0.15% retreated, weighing on sentiment. Analysts said investors were cashing in on gains, as they approached next week’s much-anticipated meeting of major oil producers with caution and skepticism. European stocks SXXP, -0.77% retreated, while Asian markets closed mixed. The ICE U.S. Dollar Index DXY, +0.04% was little changed, and gold prices GCZ6, -0.24% were down modestly.
See: Here’s what to expect from OPEC’s oil-output-freeze talks
Economic news: A September release on Markit’s purchasing managers index for manufacturing is slated to hit at 9:45 a.m. Eastern Time. The FactSet consensus forecast is for a reading of 52.
A Baker Hughes report on North America’s oil-rig count is expected to come at 1 p.m. Eastern.
On the Fed front, Philadelphia Fed President Patrick Harker is due to give a speech at noon Eastern in Philly about the central bank’s role. Shortly after that, he is slated to speak on a panel with Atlanta Fed President Dennis Lockhart and Cleveland’s Loretta Mester. Meanwhile, Dallas Fed President Robert Kaplan is expected to take part in a Q&A at 12:30 p.m. Eastern at an energy industry forum in Texas.
The 500 million users affected by the 2014 Yahoo cyberattack are victims of the rising data breach issue across the world.
Individual movers: Shares in Yahoo Inc. YHOO, +0.02% fell 2.5% premarket after the ailing internet pioneer disclosed a massive security breach affecting at least 500 million users.
Facebook Inc. FB, +0.11% dropped 1.7% following a report that big ad buyers are upset that the tech giant vastly overestimated average viewing time for video ads on its platform.
BATS Global Markets Inc. BATS, +0.26% looks poised for an up day after soaring late Thursday following a report that CBOE Holdings Inc. CBOE, -0.47% has been in talks to acquire the exchange operator.