June 05 – 09 June
Japan’s service sector grew at its fastest pace in almost two years in May, boosted by a sharp increase in new work. The Nikkei-Markit purchasing managers’ index rose to 53 in May from 52.2 in April, remaining above the 50-point level separating expansion from contr
The long-term growth prospects of the world’s developing economies are being undermined by weak investment as the global economy continues a fragile recovery, according to the World Bank.
Shares in Loxo, a small biotech company, jumped by more than 40 per cent after it published data from a successful clinical trial of its cancer drug.
Foreign investors have shown little appetite for Shenzhen-listed stocks available through a new Chinese trading scheme that grants them unprecedented access to mainland shares, as many fund managers remain wary about diving into an expensive and unfamiliar market.
Among the arguments likely to be advanced in favour of an interest rate rise by the Federal Reserve at next week’s rate-setting meeting is a striking fact about its recent increases: they have left relatively little imprint on financial markets.
Inflation grew in line with estimates in Taiwan last month thanks to a boost from prices for fish, seafood and meat. Taiwan’s consumer price index rose 0.59 per cent year on year in May, according to the Directorate-General of Budget, Accounting and Statistics. This was higher than the revised 0.1 per cent rise (previously 0.12 per cent) seen in April and in line with a median estimate compiled by Bloomberg predicting a 0.6 per cent increase.
A company that controls the Domino’s Pizza franchises in Turkey, Russia, Azerbaijan and Georgia will join the London Stock Exchange next month, hungry to share a slice of the food delivery group’s success elsewhere.
US stocks were poised on Monday to open near record highs, with investors awaiting the latest reading on the American services sector after last week’s jobs disappointment.
The US is falling behind other countries in advanced energy technologies, threatening national security and undermining its global influence, former generals and admirals in the US military are warning the Trump administration.
Uber has fired more than 20 employees after an investigation into sexual harassment claims, according to people close to the company, as the ride-hailing app tries to draw a line under a series of crises.
Pinterest has boosted its valuation by more than 10 per cent to $12.3bn in a new funding round, as the online scrapbooking site fights for an increased share of a digital advertising market dominated by Google and Facebook.
Investors are growing more sceptical that the Trump administration will be able to nurture an economic bounce, with Treasury yields and the US dollar sagging to new post-election lows and the US equity market increasingly dependent on technology stocks to maintain its highs.
Consumer prices rose in Switzerland in May, bucking expectations that inflation would flatline amid a subdued economic recovery. Month-on-month consumer price inflation rose by 0.2 per cent in May, the same rate of growth seen in April. This took the year-on-year price change to 0.5 per cent, up from 0.4 per cent and higher than economists’ consensus forecast, compiled by Bloomberg, of 0.3 per cent.
Norway’s industrial output jumped at the start of the second quarter after two months of contraction, but the oil industry’s struggles continued to weigh on growth. Seasonally adjusted industrial output increased by 0.7 per cent month-on-month in April, driven by strong growth in electricity production and better than expected manufacturing output.
LCH, London’s biggest clearing house, said on Wednesday it will accept more direct oversight from Brussels of euro-denominated derivatives, which has become an early battleground in the Brexit negotiations.
Losses from energy stocks offset mild gains in other sectors across Asia Pacific markets on Thursday thanks to a sharp dip in oil prices in the previous session.
France’s industrial sector unexpectedly contracted in April, after a particularly severe drop in manufacturing output, highlighting the challenges still facing new president Emmanuel Macron despite the recent economic pickup across the eurozone.
Germany bought and sold record amounts of goods in April, in a further sign of increasingly robust consumer demand in the eurozone’s largest economy.
Norway’s inflation rate fell further below its target level in May, despite the end of Easter sales and the first monthly increase in fuel prices for four months. Consumer prices were 2.1 per cent higher than the same time last year, compared to the previous month’s 2.2 per cent rise.
A UK-based businessman vying for control of a stricken Australian steelworks plans to spend “hundreds of millions” of pounds building a green power facility.