Week 01 2018

Week 01 2018

01 January – 05 January

 

01 January

 

South Korea’s manufacturing sector contracted in December as output fell and growth in new orders slowed.

 

Asia Pacific equities kicked of 2018 on a firmer footing as a survey of Chinese manufacturing beat forecasts.

 

Vevo, the music video company owned by a group of leading record labels, increased its revenues by 30 per cent in 2017 thanks to swelling global audiences for high-budget pop star videos. 

 

Paul Williams has been in the business of moving goods through customs for more than 20 years. And as the 47-year-old Welshman contemplates the challenges of the year ahead, few things worry him more than a plan by HM Revenue & Customs to introduce, this time next year, a new computer system for making customs declarations.

 

02 January

 

Russia is exploring ways to create a “cryptorouble” that could help it circumvent western sanctions as the traditionally technophobic Kremlin gets swept up in the cryptocurrency craze.

 

Chinese markets charged into the new year with Hong Kong-listed China equities rallying 3 per cent on the first day of trading in 2018.

 

Shares in Hyundai Motor and its affiliate Kia Motors slid on Tuesday morning after the South Korean automaker forecast a modest increase in 2018 sales.

 

BP has warned that US tax reforms signed into law by President Donald Trump last month will cause a one-off charge of $1.5bn but the changes would be beneficial to earnings in the long run.

 

03 January

 

Spark Therapeutics says it will charge $850,000 for its new gene therapy for blindness, making it the most expensive drug on the market and kick-starting a debate about the affordability of pioneering treatments.

 

Bitcoin might have fallen somewhat from the heights it hit late last year, but the cryptocurrency’s recent surge helped bring shares in Plus500 to their own record high on Wednesday morning.

 

Britain has held informal talks about joining a flagship Pacific trade group, in an audacious bid to kick-start exports after Brexit.

 

Trading in European fixed income assets was exceptionally thin on Wednesday morning, as investors adjust to the continent’s largest regulatory shake-up for a decade.

 

04 January

 

Japan’s manufacturing sector ended 2017 on a high note, growing at its fastest pace since early 2014 in December as output growth continued to improve, according to a private survey.

 

Gold extended its decline on Wednesday after minutes from the last Federal Reserve meeting showed that many policymakers continued to take the view that weak inflation is temporary.

 

Credit card company American Express on Wednesday said changes to the US tax law would reduce its fourth-quarter earnings by $2.4bn and drive it to a quarterly loss.

 

Shares in Debenhams fell by more than a fifth on Thursday morning after the struggling department store group warned it would miss full-year profit forecasts because fewer shoppers passed through its doors in search of post-Christmas bargains.

 

05 January

 

Consumers nursing a financial hangover after overspending at Christmas can take advantage of record-breaking deals on 0 per cent credit cards, as balance transfer fees fall to their lowest levels in over a decade.

 

Mining companies in Australia jumped in early trading on Friday after commodity prices rose to a three-year high amid optimism about the global economy.

 

The hourly productivity of British workers jumped at the fastest rate for six years during the third quarter of 2017, raising hopes for a turnround in one of the UK economy’s most persistent weaknesses.

 

Global equities are maintaining their record-breaking start to the year, with London’s FTSE 100 touching a new high as attention turns to the monthly US jobs report.