Week 03 2018

Week 03 2018

15 January – 19 January


15 January


Britain’s high streets and shopping centres have started trading in 2018 in serious trouble following a precipitous drop in shopper numbers over the Christmas period.


Lego and Tencent have formed a wide-ranging digital partnership to develop games, online videos and a social media network for children in China, as the Danish toymaker seeks to restart its stuttering growth trajectory.


UK inflation eased in December, raising hopes that the effect of the fall in the pound on consumer prices has now peaked.


Equities were higher across the Asia Pacific in early trade on Monday as stocks marched on from a strong finish by Wall Street on Friday.


16 January


A strong finish to 2017 helped Rio Tinto hit export targets for iron ore, the miner’s most important commodity and main source of income. In a production update, the Anglo-Australian company said it has shipped a record 90m tonnes of the steel-making ingredient during the three months to December, up from 85.8m tonnes in the previous qu


Serco ended Monday as the best-performing group in the FTSE 350, as investors bet that the outsourcing group was the best-placed company to pick up business lost by Carillion after its collapse.


Speculation of another round of cost-cutting at its investment bank helped Barclays outperform on Monday.


PSA, the French manufacturer of Peugeot and Citroën, saw global sales jump 15.4 per cent in 2017 as it followed a similarly strong performance from rival carmaker Renault earlier in the week.


17 January


The huge sums that leading football clubs can pay in transfer fees on the back of consistent revenue growth is propping up smaller clubs across the continent, according to data from Uefa, European football’s governing body.


Record sales of mince pies and overseas demand for Cadbury cakes boosted Christmas revenues at Premier Foods, the highly indebted UK group.


Growth in machinery orders rose unexpectedly last month in Japan, suggesting a continued rise in investment spending.


If there is a tipping point for cable — the nickname for the pound’s value against the dollar — it is the $1.40 level. Historically, the market tends to see $1.40 as a floor for the currency, and in the post-Brexit era, that floor is coming into view.


18 January


Alcoa reported a net loss in the fourth quarter, largely owing to the closure and sale of some of its smelting assets.


South Korea’s Kakao has raised about $1bn through a sale of global depositary receipts, which will be used for overseas acquisitions focused on artificial intelligence.


If there were any doubt about China’s eagerness to keep up with economic change, its enthusiasm for extending its authoritarian and mercantilist model to the digital economy should dispel them.


The pound rallied to a fresh post-Brexit high against the US dollar on Wednesday before trimming those gains in late New York trade.


19 January


HSBC has agreed to pay a $101.5m penalty in a settlement with the US Department of Justice over its attempts to manipulate foreign exchange markets, allowing the bank to avoid pleading guilty to criminal charges.


Bonds and loans issued by GNC, the junk-rated high street vitamin retailer, rallied on Thursday after the company reported a jump in same-store sales.


The $160bn Bridgewater hedge fund produced a chart last year about modern politics that was alarming for at least two reasons. First, the number crunching revealed that the proportion of votes garnered by populist, anti-establishment candidates in the west, such as US President Donald Trump, France’s Marine Le Pen and Jeremy Corbyn, leader of the UK Labour party, exploded from 7 per cent in 2010 to 35 per cent in 2017.


US stocks and the dollar came under pressure on Thursday on signs that the US government could be inching towards a possible shutdown.