Week 02 2018

Week 02 2018

08 January – 12 January


08 January


Economic confidence across the eurozone has hit its strongest level in more than 17 years, according to official figures that suggest both consumers and businesses are benefiting from the region’s healthy recent performance.


Mothercare’s shares lost a quarter of their value on Monday after the children’s goods retailer warned of a sharp downturn in profits following a drop in festive sales.


China’s banking regulator has put new curbs on the country’s Rmb13.8tn ($2.13tn) entrusted lending business, a sign that the crackdown on shadow banking launched by Beijing in 2017 will extend into the new year.


Hedge funds and speculators remained positive on commodities over the new year, increasing bullish bets in metals and oil.


09 January


Monthly wages climbed in real terms in Japan in November, but a revision to October’s reading eliminated what was previously the first such rise since 2016.


Ailing cable group Altice has announced a organisational shake-up that will see its US business spun off and its European operations restructured into three units, as well as a $1.5bn cash dividend to be paid immediately before separation with plans for a $2bn share buyback to follow.


South Korea’s beauty industry had enjoyed a blush of renewed optimism that its year-long China nightmare was coming to an end as the two countries looked to be moving past a diplomatic stand-off over a US missile shield. 


The premiums investors demand to hold riskier US corporate debt fell to the lowest level since 2014 on Monday.


10 January


Construction activity in the UK fell at its fastest pace in five years in the three months to November, according to official data, as economic uncertainty discourages major new projects.


Apple has been forced to pay an extra £136m tax bill in the UK after “an extensive audit” by HM Revenue & Customs in the latest crackdown affecting the US tech giant.


Celltrion, a leading South Korean drugmaker, resumed its winning streak on Wednesday bringing its rise since the end of December to 55 per cent on expectations of strong overseas sales this year.


Target hit the bullseye for investors over the holiday shopping period, sending the company’s shares close to a one-year high.


11 January


Germany’s economy expanded by 2.2 per cent last year — the highest rate since 2011. The figure, published today by the Federal Statistics Agency, confirms 2017 was a bumper year for the eurozone’s economic powerhouse.


YouTube has removed Logan Paul’s channels from its Google Preferred platform and put upcoming projects with the popular creator on hold after he posted a video showing a suicide victim.


Marks and Spencer revealed declining same-store sales in its upmarket food business, a sharply worse result than at other large grocers, which have posted rising sales as inflation begins to bite.


A sharp move for the yen is a sign investors are growing confident that G10 central banks will be tightening monetary policy, seizing on supporting evidence from data and statements from policymakers to drive currencies higher.


12 January


Inflation was weaker than previously thought in both France and Spain at the end of the year, highlighting the weakness of price rises across the eurozone despite the European Central Bank’s growing confidence.


The precarious state of Britain’s languishing consumer economy was laid bare on Thursday, as several big retailers spooked investors with weak Christmas sales while upmarket outlets warned of lower profit margins.


Uber routinely deployed a software tool that locked down its overseas computers during police raids, according to several people familiar with the matter, in the latest example the car-booking company’s willingness to stretch the rules in its dealings with authorities.


The Central Reserve Bank of Peru cut interest rates for the fifth time in less than a year on Thursday after consumer inflation fell to a seven-year low last month.