Week 49 2017

Week 49 2017

04 December – 08 December

 

04 December

 

US equities are setting new records on Monday morning while the greenback treks higher after the Senate pushed through tax reform legislation in a late-night vote over the weekend.

 

More than two dozen countries face being named on a European tax-haven blacklist as the EU moves to crack down on aggressive avoidance.

 

Kazakhstan’s state-owned uranium producer Kazatomprom said it will cut production by 20 per cent over the next three years, as the market struggles with oversupply of the nuclear fuel.

 

Pendragon, one of Britain’s biggest car dealers, unveiled on Monday plans to sell its US motor business and focus on the UK used car market after a profit warning in October sparked a plunge that saw it lose a fifth of its share price.

 

05 December

 

Bellwether indicators of investor confidence in the US economy rose on Monday as traders had their first chance to react to the Senate’s decision to approve a sweeping tax cut.

 

Japan’s service sector growth slowed in November but remained in expansionary territory for a fourteenth consecutive month.

 

MasterCard announced an additional $4bn share buyback on Monday and raised its quarterly cash dividend.

 

Black Friday, the sales event that has become a focus of the pre-Christmas shopping season, was not enough to lift the gloom hanging over the British high street this year, according to new figures.

 

06 December

 

Gold briefly dipped to its lowest point since October on Tuesday before climbing back a bit, although the yellow metal is still having a down day as Wall Street mulls the direction of tax reform.

 

Malaysia’s export growth rose more quickly than forecast in October as shipments of electronic products and petroleum products climbed.

 

Numis, the City stockbroker, bounced back from a difficult first half to post double-digit profit growth overall in its latest full-year results, as more “favourable” market conditions prompted an increase in both fundraising and M&A activity.

 

Walgreens Boots Alliance, America’s biggest retail pharmacy chain, has agreed to buy a 40 per cent stake in a large Chinese drug store company as it boosts its exposure to the quickly growing emerging market.

 

07 December

 

Bitcoin hit yet another fresh record high on Thursday as it rose above the $14,000 threshold for the first time.

 

Policymakers at the Brazilian central bank on Wednesday cut the benchmark Selic rate by 50 basis point to a historic low of 7 per cent as inflation continues to drop while the economy inches forward from a brutal recession.

 

Britain’s biggest shopping centre owners are in talks to create a £21bn pan-European real estate giant as they brace for a predicted slowdown in a UK retail market that is shifting online.

 

Apple has been accused of discriminating against small businesses with a heavy-handed attempt to crack down on App Store spam.

 

08 December

 

Chinese demand pushed Asian liquefied natural gas prices to a three-year high, as the country’s importers scramble for supplies in the face of Beijing’s move to reduce urban air pollution.

 

Monthly wages for Japanese workers edged higher in October but at a slower pace than the previous month as bonus payments slowed sharply.

 

US stock traders and investors are turning up the heat on a long-running effort to fight the cost of market data.

 

Spotify and Tencent’s music business have struck a deal to acquire minority stakes in each other, as the world’s largest streaming services partner up ahead of public listings planned for next year.