Week 26 2017

Week 26 2017

June 26 – 30 June


26 June


German businesses were feeling more positive than ever this month, according to a closely-watched business survey, which unexpectedly improved in the latest sign of confidence in Europe’s economic recovery.


Shares in Italian banks climbed on Monday morning after the country’s government announced it would wind down two failed banks and spend up to €17bn of taxpayers’ money to cover their losses in a move to restore confidence in the country’s banking sector


Honour of Kings, a Chinese fantasy battle game for mobile phones made by internet group Tencent, converted its more than 50m-strong army of daily active users into revenue of up to Rmb6bn ($876m) in the first quarter, making it the world’s top-grossing game, according to analysts. 


Investors are under unprecedented pressure to punish management of poorly performing Japanese companies at this year’s round of shareholder meetings, in a key test for Prime Minister Shinzo Abe’s governance reform campaign.


27 June


Brazilian personal trainer Cau Saad has always aimed high, teaching Nascar drivers in Indianapolis and developing an exclusive clientele in Miami.


European banks were on Monday judged to be the safest since the height of the eurozone debt crisis, according to a key gauge, in one of the clearest signs that a bailout of two Italian Banks has strengthened investor confidence in the continent’s financial institutions.


The rules seemed clear. After anger at how EU taxpayers had to meet the cost of bank rescues during the financial crisis, any more failing lenders would have to be dealt with, as far as possible, by their own shareholders and creditors.

Avis Budget shares raced higher on Monday, after the rental car company said it signed a deal with Waymo, the Alphabet-owned self-driving car outfit.


28 June


The last tax havens to resist the global crackdown on evasion have bowed to intensifying political pressure over the leaked Panama Papers, experts said on Wednesday.


The euro has kicked off the European trading day with further consolidation of Tuesday’s gains on the greenback, sparked by European Central Bank chief Mario Draghi’s startlingly upbeat view on the inflation outlook.


Some of the world’s largest companies including WPP, Rosneft, Merck and AP Moller-Maersk have been hit by a large-scale cyber attack that also took critical government and bank infrastructure in Ukraine offline on Tuesday.


L’Oréal signed a contract on Tuesday to sell The Body Shop to the Brazilian cosmetics maker Natura Cosméticos as it seeks to grow internationally.


29 June


The financial turmoil sometimes known in Thailand as the tom yum goong crisis erupted with the baht’s devaluation 20 years ago on Sunday. The trouble quickly spread across Southeast Asia with the signature intensity of the fiery soup for which it is nicknamed.


The World Bank has got a bond to sell you.The Bank has launched its first pandemic bond, raising funds to help developing countries combat infectious diseases. The sale raised $322m in two separate three-year bond issues, with the Bank also issuing $100m of swaps offering pandemic protection.


Unicaja has persevered through the recent travails in the Spanish banking sector and priced its IPO, although investors demanded a significant discount to buy shares in the retail bank.


Private equity buyouts have enjoyed the strongest start to a year since before the financial crisis as fund managers have come under intense pressure from investors to deploy some of the record amount of capital they hold


30 June


Annual inflation in the eurozone sank to 1.3 per cent in June, highlighting the delicate balancing act monetary policymakers face in dealing with strong growth while price pressures remain weak


Hurricane Energy has launched a $520m fundraising to develop one of the most promising untapped oilfields on the UK continental shelf.


Technology companies suffered further losses on Thursday, weighing on the tech-heavy Nasdaq Composite and extending the index’s recent underperformance as investors have begun shifting away from what remains this year’s best-performing sector.


Donald Trump has heralded a new era of American energy “dominance” as he announced measures to put fracking, nuclear power and coal exports at the heart of the power sector.