13 November – 17 November
A Chinese metals entrepreneur has abandoned a $2.3bn deal to acquire US aluminium producer Aleris after struggling to get US regulatory clearance for the deal, the companies said on Monday.
For anyone who has ever dreamt of flying first-class, time may be running out. Emirates Airline this week kicked off the Dubai Air Show by unveiling the luxurious private cabins it will put on its Boeing 777 aircraft. The result is an elegant, hotel-style space designed to meet needs most passengers do not even know they have.
European investors are looking increasingly uncomfortable with the recent highs on the region’s stocks. Indices have come under heavier pressure as the session has developed, even as Wall Street has kept its poise.
Stronger Chinese economic growth will push global greenhouse gas emissions to a record high in 2017 after remaining flat for three years, dashing tentative hopes of a turning point in the world’s efforts to curb climate change.
Grocery prices rose at their fastest rate in four years over the past three months according to a report from Kantar Worldpanel on Tuesday, adding to pressure on consumers in the run up to Christmas.
French insurer Axa has promised to cut its head office costs by 25 per cent as it shakes up its business structure. The company on Tuesday said that it would streamline its central operations and give more autonomy to regional businesses.
Stocks in Hong Kong were the standout performer again on Tuesday as regional equities mostly lost ground. Hong Kong’s Hang Seng index was up 0.4 per cent in early trading with China’s tech giant Tencent among the biggest gainers, adding 1.3 per cent.
The krona dropped to its weakest level in a year on Tuesday morning, after new data showed Sweden’s inflation rate had fallen below the central bank’s target level for the first time since June.
A new range of Batchelors Super Noodles and the international popularity of Cadbury cakes helped fuel a return to growth for the first time in more than a year at Premier Foods, the UK maker of Mr Kipling cakes and Bisto gravy.
Nestlé, the world’s largest food and drinks company, is a giant awakening. Since the start of the year, new chief executive Mark Schneider has reacted to forces reshaping the global consumer goods industry — and pressure from activist investors. Profit margin targets have been set, growth areas identified and a SFr20bn share buyback programme unveiled. On Wednesday, its infant nutrition business was broken into regional units, to get closer to customers. Expectations have mounted that Mr Schneider will revamp Nestlé’s portfolio with big acquisitions and disposals.
US equities indices were stuck in negative territory again on Tuesday as General Electric continued to tumble, eyeing a second day of substantial losses amid investor worries about the industrial conglomerate’s future.
Japan’s economy grew at a solid pace in the three months through September, according to an initial estimate, notching a seventh consecutive quarter of growth as exports helped compensate for underwhelming domestic demand.
Wharf Holdings plunged as much as 64.7 per cent in Hong Kong on Thursday to an eight and a half year low after it distributed shares in its real estate spin-off, which now holds most of its prime assets and is slated to begin trading next week.
L Brands turned softer in after-hours trading after its quarterly results showed that sales at its lingerie brand, Victoria’s Secret, continued to erode after shedding its apparel and swimwear businesses.
Target shares briefly slid more than a tenth, on a day of declines for the benchmark S&P 500 after the US retailer offered conservative guidance for the critical fourth-quarter holiday shopping season.
Israel’s economy expanded much faster than expected in the third quarter, as the country’s strong currency failed to dampen export growth.
Malaysia’s economy grew at the fastest pace in more than three years during the third quarter as activity in the services and manufacturing sectors picked up and public spending exited contraction.
The dollar is heading back toward its lowest levels of the month as political developments in Washington muddy the outlook for the delivery of tax reform proposals that already looked priced into the currency and Wall Street stocks.
Comcast and Verizon have separately approached Rupert Murdoch’s 21st Century Fox to explore potential combinations with the media company, a week after it emerged that Fox had held similar talks with Walt Disney.
Gap shares jumped higher in after-hours trading on Thursday after the US retailer lifted its earnings forecast following sales growth that exceeded analysts’ expectations.