Week 11 2018

Week 11 2018

12 March – 16 March


12 March


The foundations of America’s relationship with China crumbled last week. The key developments were a lurch by the US towards protectionism and a swing by China towards one-man rule.


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Cloud computing is transforming the way companies across the world do business. But in China, it is playing an even more transformative role: the country’s biggest consumer-oriented companies are increasingly tapping the corporate sector too.


American Express is planning to cut the fees it charges retailers and other businesses by more than it has done in two decades, as its new chief executive pushes more outlets to accept its cards


13 March


The volume of home loans in Australia dropped in January, missing forecasts, and marking the second consecutive month of declines.


Oil prices retreated on Monday, giving up some of last week’s gains amid concerns that surging US shale output could undermine efforts by Opec and its allies to boost crude prices.


Shares in a Hong Kong-listed subsidiary of indebted Chinese conglomerate HNA Group rose on Tuesday as trading in the company’s stock resumed after the company announced the sale of a residential site in the city for $810.8m.


Piraeus Bank, Greece’s biggest lender by assets, has taken a €1.6bn hit to cover the cost of increased provisions for bad loans as required under a new accounting standard.


14 March


Investment in China’s real estate market rose at the fastest pace in three years during the first two months of 2018 but growth trends for sales value and volume diverged in a potential signal of tougher times for lower-tier markets. 


US consumers were reluctant to open their wallets in February, with retail sales shrinking for a third consecutive month, the first time that has happened in five-and-a-half years.


InterContinental Hotels will acquire a 51 per cent stake in Regent Hotels and Resorts for $39m as the company makes good on a promise to accelerate expansion


Wm Morrison will pay a special dividend to its shareholders after posting annual results that came in slightly ahead of City expectations.


15 March


Polish consumer prices posted a surprise fall in February from the previous month, putting downward pressure on the eastern European country’s curency.


Asia Pacific equities edged lower again on Thursday after the latest turmoil in the White House exacerbated weak sentiment on Wall Street over fears of US-led trade war.


Walt Disney is reorganising itself to bring a new focus on internet streaming services and merchandising, as it steps up its efforts to go direct to consumers in an attempt to combat Netflix and cord-cutting.


Prudential, the UK’s biggest insurer, is to divide itself into two by splitting off its UK business from its US and Asian operations.


16 March


Inflation in the euro area was slightly cooler than previously thought in February, according to the final reading of prices by Eurostat.


Global investors ploughed a record $43bn into stock funds and ETFs in the past week, with an inflow that exceeded the previous record set after the 2016 election of Donald Trump.


A former Walmart executive has accused the world’s largest retailer of overstating sales to show “meteoric growth in its ecommerce business by any means possible” as it battles with Amazon, according to a lawsuit by a whistleblower. 


Adobe shares jumped in after-hours trading after the company reported a strong start to the 2018 fiscal year, with strong revenue growth across regions and its suite of products that topped Wall Street forecasts.