Week 52

26 December – 30 December

 

26 December

 

German carmaker BMW is expected to recall nearly 200,000 vehicles in China over defective airbags, the country’s General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) said Friday. This follows a November recall by the luxury automobile company in the U.S. over problems with its vehicles’ fuel pumps.

 

Headed for a fourth straight annual profit decline, Hyundai Motor (005380.KS) is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employees, executives told Reuters.

 

On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train toward the medieval city of Siena, racing to meet the directors of the world’s oldest bank to present them with a rescue plan.

 

Immersion, not social, cracks the digital code; that is the lesson brands must take away from the year gone by, writes Bharat Bambawale. The year witnessed a manifold increase in brand activity on digital. Apart from the launch of new digital businesses, most branded digital activity was on social media. The approach among brands towards digital so far has hardly been subtle or tactful.

 

27 December

 

The pound faces a rollercoaster ride next year as policymakers start the process of leaving the European Union, analysts have warned

 

An Italian bank will have to be bailed out. President Donald Trump will tweet something stupid in the middle of the night. The EU will fine Facebook/Apple/Amazon a few hundred billion euros for invading privacy/avoiding tax/monopolising the market (delete as appropriate).

 

A Saudi Arabian daily retracted its report which said Riyadh was planning to sell 49 percent stake in the state-owned oil giant Saudi Arabian Oil Company (Saudi Aramco) within the next 10 years. The al-Eqtisadiah newspaper apologized Sunday for its “completely wrong” report published Saturday.

 

U.S. electric car maker Tesla Motors and Japanese multinational electronics corporation Panasonic announced Tuesday they have entered a partnership to manufacture photovoltaic (PV) cells and other solar modules jointly at Tesla’s factory in Buffalo, New York.

 

28 December

 

The number of new listings on London’s junior market fell this year as companies abandoned flotation plans amid Brexit uncertainty and volatile market conditions.

 

London-listed miners are poised for their biggest annual gain since 2009 as firmer oil and commodity prices pushed the sector higher.

 

Delta Air Lines said Tuesday it has reached an agreement with Boeing Co. to cancel an order placed for 18 Boeing 787 Dreamliner aircraft that it inherited as a part of its merger with Northwest Airlines.

 

The binge-watching options for Netflix subscribers will soon multiply, as the streaming service plans to expand its original series offerings to 60 shows, double the current 30 choices, in 2017, Forbes reported.

 

29 December

 

Britain’s corporate finance chiefs are more optimistic about the future than at any point over the past 18 months, as they bounce back from their Brexit blues of the summer amid the UK’s unexpectedly positive economic performance.

 

This has been a year of momentous political upsets – and of rapid evolution in investors’ response to them. While markets fell drastically after the Brexit vote, a similar slump after Donald Trump’s election failed to materialise, and the result of the Italian referendum was roundly ignored.

 

A rally in gold miners helped the FTSE 100 set a new record closing high for a second consecutive trading session.

 

Tadashi Ishii, the head of the Japanese advertising group Dentsu Inc., announced Wednesday he will step down as chief in January following the 2015 suicide of an employee who had worked hundreds of hours overtime.

 

30 December

 

Chinese stocks rose slightly on Friday, the last trading day of 2016, but the blue-chip index ended the year more than 11pc lower despite signs of resilience in the world’s second-largest economy.

 

The Dow Jones Industrial Average (DJI) diverged from its climb toward 20,000 points Friday, dropping 0.3 percent to 19,769.38 after opening at 19,834.46. Looking back over the past 12 months, however, the index enjoyed its best yearlong performance since 2013.

 

There are two national economies in the world which stand head and shoulders above the rest – the United States and China. These two countries generate nearly $30 trillion of world GDP – about 40pc of the global total. The next largest national economy – Japan – produces less than $5 trillion or about 6pc of the world’s annual economic output.

 

On January 20, Donald Trump will be inaugurated as the 44th president of the United States. What will this mean for business?