Week 05 2018

Week 05 2018

29 January – 02 February


29 January


The “global rules-based order” is a yawn-inducing phrase but it means something important. All countries in the world, bar a few rogue states, deal with each other according to an agreed set of legal, economic and military rules.


Canadian cannabis grower Aphria has agreed a C$826m ($669m) deal to purchase cannabis processing specialist Nuuvera, the latest sign of industry consolidation ahead of the drug’s expected legalisation later this year.


Keurig Green Mountain, the coffee group owned by JAB Holding, has unveiled a deal on Monday to acquire soda maker Dr Pepper Snapple Group in a move that will create a drinks conglomerate with $11bn in annual revenue.


Greece is to bring a seven-year bond to market in the next two weeks, in what would be its first debt-raising since its return to the capital markets last summer.


30 January


The pressure on the global bond market reverberated across equities on Tuesday, deepening a slide that began at the start of the week amid concern that the roaring stock market rally could be vulnerable to a reversal.


Relx, the UK-listed information and analytics group formerly known as Reed Elsevier, has struck its biggest deal in a decade with the £580m purchase of ThreatMetrix, an online identify verification business.


Chinese consumers powered a stronger than expected increase in sales and a return to profits growth at Swatch last year as the Swiss watchmaker put behind it the industry’s recent sharp downturn.


European equities bourses kicked off Tuesday with modest declines, bucking steeper falls in Asia as investors eye bond yields.


31 January


Germany’s unemployment rate moved even further into record-breaking territory at the start of the year while Italy recorded its lowest jobless rate since the depths of the eurozone crisis, as the region’s economic boom encourages further hiring.


Retailer Hennes & Mauritz has admitted it “made some mistakes” in 2017 as it struggled to adapt to the growing fondness for online shopping.


When Amazon bought a big stake in drugstore.com in 1999, Jeff Bezos thought he could do for pharmaceuticals what he had done for books, stealing market share from bricks-and-mortar pharmacies and bringing down prices for consumers.


Not one to be left out of Wall Street’s sell-off, bitcoin is back under $10,000. The cryptocurrency was fetching $9,950 at pixel time on Bitstamp, one of the major trading venues. Its price had been as low as $9,731 earlier in the session.


01 February


UBS now expects the Bank of England to raise interest rates as soon as May this year — much earlier than most analysts had previously anticipated.


Facebook said time spent on the platform declined by roughly 50m hours every day in the last quarter, before it even made the radical changes it believes will encourage a focus on “meaningful connections”, not mindless browsing.


Microsoft has taken another bite out of Amazon Web Services’s clear lead in cloud computing, with an acceleration in growth from its Azure cloud platform in the latest quarter.


Fears of another dividend cut sent TalkTalk tumbling to an eight-year low on Wednesday.


02 February


Britain’s builders have had a difficult start to the year: construction activity remained flat during the month, according to a survey of purchasing managers in the industry.


Deutsche Bank will pay $70m to settle charges from US derivatives regulators that its traders tried to rig a crucial benchmark in the $300tn interest-rate swaps market.


Apple’s iPhone sales dropped by 1 per cent in the key quarter covering the last holiday season, missing Wall Street analyst forecasts as the company pointed to lower revenues than investors had been expecting for the current quarter


The sell-off in US Treasuries eased on Friday in Asia trading after yields hit a near four-year high in the previous session.