Week 41 2017

Week 41 2017

09 October – 13 October


09 October


As Walmart and Amazon battle for dominance of all aspects of shopping, Walmart is hoping to steal a march via one of the oldest problems in retail: returns.


YouGov posted a sharp rise in its annual profits and sales, bolstered by growth in its two biggest markets and the weakness of sterling against the dollar.


As the pound shows sign of a rebound after a recent bout of political-inspired weakness, the long-term prognosis for UK assets remains hazy at best.


The European Central Bank has found the eurozone’s lenders can manage higher interest rates — but current record-low borrowing costs are damaging their profits.


10 October


Tajikistan’s vulnerability to external shocks as global interest rates rise is quite literally off the charts, according to Moody’s, which warned on Monday that around a quarter of so-called “frontier markets” are highly vulnerable as central bank stimulus in developed markets comes to an end.


South Korean stocks rallied on Tuesday playing catch-up on returning from a week-long holiday as Asia Pacific stocks broadly bucked declines on Wall Street.


Tujia, China’s answer to Airbnb has raised $300m in its latest funding round lead by Ctrip and All-Stars Investment.

Shares in Samsung lifted as much as 4.5 per cent on Tuesday on analysts’ expectations for the company to report record quarterly profits later this week.


11 October


House prices in European economies as varied as Ireland, Lithuania and the Czech Republic have surged over the past year, raising concerns about a fresh bubble in property prices.


Sterling slid to the lows of the day as investors digested remarks from Philip Hammond in which the chancellor reiterated the risks of Brexit.


Further support for offshore wind power and an increasing focus on energy efficiency will be at the heart of a new “clean growth” strategy to be unveiled by the government this week.


Sales of gin in the UK in 2016 broke the £1bn mark for the first time, driven by a thirst for craft gin. But can the tipple follow craft beer to become a global phenomenon and how will mainstream brands respond? Daniel Garrahan reports.


12 October


A host of major currencies edged higher against the dollar on Thursday as the greenback continued to lose ground in Asia trading following the latest signals from the Fed overnight.


Inflation in France was weaker than previously thought in September, highlighting the delicate balancing act facing the European Central Bank as it prepares to bring an end to its bond-buying programme.


AT&T said late on Wednesday that it expects a string of hurricanes in the US to reduce its third quarter revenues and earnings, while adding that the natural disasters, alongside increased competition, also saw it lose video subscribers.


Lotte Group has announced plans to abandon its chain of hypermarkets and supermarkets in China as months of economic pressure from Beijing takes a toll on South Korea’s fifth largest conglomerate.


13 October


Samsung Electronics has projected another record quarterly earnings on higher memory chip prices and its strong momentum is expected to continue into the current quarter and next year.


Tesla is recalling 11,000 of its Model X vehicles because their rear seats may not lock into place and could move forward in the event of a crash.


A Wall Street investment firm has raised $4.5bn to lend directly to smaller companies, marking an acceleration of a trend that has seen investors hunt for returns in a business once dominated by big banks.


Singapore’s economy grew at a faster pace than forecast in the third quarter thanks to a boost from the manufacturing sector, according to an advance government reading.