Week 13 2018

Week 13 2018

26 March – 30 March

 

26 March

 

The US stock market began Monday trading on a bright note, aided by news that trade talks between the US and China are progressing.

 

South Korean stocks rose and the country’s steel producers rallied on Monday after Seoul appeared to have resolved a trade dispute with the US.

 

Environmental groups suing German cities have threatened to take further legal action against the German state of Baden-Württemberg, where authorities have allegedly failed to confirm they would soon comply with a federal court ruling and enact driving bans against older diesel-engine cars.

 

Qatar Airways has bought a 25 per cent stake in one of Moscow’s largest airports for an undisclosed sum as the company attempts to overcome the Gulf blockade of the emirate. 

 

27 March

 

Japan’s retail sales edged higher in February, but remained short of economists’ estimates. Retail sales rose 1.6 per cent year on year in February, according to the Ministry of Economy, Trade and Industry, and up from a revised 1.5 per cent growth in the previous month. This was just short of economists’ estimates compiled by Reuters forecasting 1.7 per cent growth.

 

Microsoft is headed for its best one-day gain since 2015 after analysts at Morgan Stanley said that the company’s long standing software business combined with the fast-growing demand for cloud services could put it on track to reach a market valuation of $1tn.

 

Novartis and GlaxoSmithKline put down a marker over their future strategies after the Swiss drugmaker agreed to sell GSK its stake in their consumer health joint venture for $13bn.

 

Twitter will ban adverts for certain cryptocurrency services as well as initial coin offerings, following in the footsteps of Google and Facebook as large technology groups respond to pressure to protect consumers from scams.

 

28 March

 

The recent protectionist measures by the US administration are dangerous and risk triggering a trade war and hampering global growth. The world is at a crossroads between co-operation and confrontation. This is a critical time when the international community should be upholding the global trading system.

 

A critical short-seller report and broad tech stock sell-off weighed heavily on Twitter, leaving the social-media site with its biggest one-day drop in eight months.

 

Japan’s Takeda Pharmaceutical said on Wednesday that it is “considering making an approach” to buy Shire, the Irish drugmaker.

 

Opec and Russia, which have engaged in production cuts over the past year, are seeking to extend oil market co-operation for decades, according to Saudi Arabia’s crown prince Mohammed bin Salman.

 

29 March

 

Japan’s retail sales edged higher in February, but remained short of economists’ estimates. Retail sales rose 1.6 per cent year on year in February, according to the Ministry of Economy, Trade and Industry, and up from a revised 1.5 per cent growth in the previous month. This was just short of economists’ estimates compiled by Reuters forecasting 1.7 per cent growth.

 

Large UK-listed stocks were the worst place to invest in during the first quarter of the year as volatile trading sent developed market equities lower while emerging market assets rallied.

 

Hyundai Motor’s founding family is simplifying the South Korean conglomerate’s complex ownership while consolidating their control over the group’s key units.

 

Apple is seeking to capitalise on its conservative approach to using customer data amid the online privacy uproar fuelled by the huge leak of Facebook data to Cambridge Analytica.

 

30 March

 

On March 29 2019, London will cease to be the de facto capital of Europe. This is the date on which Britain formally leaves the EU. Financially, London’s position as the command-and-control centre of the European economy will be under threat. Culturally, the city will gradually lose its status as a glamorous trendsetter. And socially, it will find itself increasingly at odds with the rest of the country. But rather than drown in regret, London should seize this opportunity to reimagine itself.

 

Investors put the most net cash into Japanese equities funds in nearly five years in the latest week ahead of the end of the country’s fiscal year.

 

Clothing brand Under Armour is under pressure after it said that a data security breach had affected about 150m user accounts for its MyFitnessPal fitness and diet tracking service.

 

US farmers have retrenched in the face of low agricultural prices by setting plans to plant less corn and soyabeans this year, sending grain prices higher.