Week 47 2017

Week 47 2017

20 November – 24 November


20 November


Japan’s trade surplus rose by a seasonally adjusted 21 per cent in October compared with the previous month as a weaker yen and healthy growth in China spurred exports.


Spanish hotel operator Barceló has offered to buy local rival NH Hotel Group in a multibillion-euro merger that would create the country’s largest hotel group.


Uber has entered an agreement to buy thousands of cars from Volvo to prepare a fleet of fully driverless on-demand vehicles, in a significant acceleration of the ride-hailing company’s ambitions in the area.


It was difficult to tell who was more delighted by Moody’s decision to upgrade India’s sovereign rating on Friday: the government in New Delhi or investors.


21 November


Shares in Aggreko dropped as much as 11 per cent in early trading on Tuesday, after the temporary power provider reported weak trading in one of its businesses and delays in payments from some of its customers.


Tencent on Monday punched through a stock market capitalisation of $500bn, becoming the first Chinese technology company to join an elite group dominated by US groups.


Asian equities were climbing on Tuesday, recovering from a poor start to the week on Monday and following from a positive lead from New York.


The Swedish krona has fallen past the SKr10 per euro milestone for only the second time since the financial crisis, as a strong euro, dovish central bank and investor jitters about the local housing market combine to pile pressure on the currency.


22 November


Sage, the UK’s second-largest technology company, reported full year revenues a touch ahead of management targets after switching more customers from its old model of software installation to new cloud-based subscriptions.


Apple has removed hundreds of apps from its download store in China this year at the government’s request, the iPhone maker said on Tuesday, as it emerged that Skype was the latest US communications service to be caught up in Beijing’s internet crackdow


Strength in the technology and healthcare sectors helped Wall Street’s main indices reach record highs — with the S&P 500 briefly breaking through the 2,600 level for the first time — although volumes were light ahead of the Thanksgiving holiday.


While human rights campaigners are keeping a grim body count of Filipinos killed during Rodrigo Duterte’s war on drugs, economic managers in the populist president’s government are trying to call the world’s attention to another number: surging GDP growth.


23 November


Eight of the world’s biggest energy groups have committed to cut methane emissions from their supply chains as part of efforts to promote natural gas as a relatively climate-friendly fuel.


Investors using the Enterprise Investment Scheme as a tax-efficient wrapper were today rewarded with a surprise doubling of the investment limit, but told that the scheme rules would be tightened to prevent investors using it for low-risk assets.


A December rate rise from the US federal Reserve is looking more or less certain, particularly after the central bank’s minutes released on Wednesday. After that, the outlook gets murkier, and the lack of clarity is tethering the dollar to its October lows.


Germany’s healthy economic growth rate – and its controversial reliance on exports to drive it – looks set to continue, according to a closely-watched set of business surveys, which beat forecasts and showed signs of exceptional growth in foreign trade.


24 November


Diageo, Mars, Hewlett-Packard, Deutsche Bank and Mondelez were among brands to pull advertising from YouTube and its owner Google after campaigns appeared alongside videos featuring children and sexualised comments.


Sports Direct’s independent shareholders will vote on whether to pay £11m in back pay to the older brother of its billionaire founder Mike Ashley next month, the company has confirmed.


When technology shares tumbled from sky-high valuations in 2000, Stanley Druckenmiller, then second-in-command to George Soros at his famed Quantum Fund, suffered the fate of having held on too long.


Germany is showing off, again. Confidence among businesses in the eurozone’s largest economy topped last month’s record to reach another new high in November as optimism among the nation’s companies booms, according to a closely-watched index of the business climate in the country.