Week 2 2017

Week 2 2017

09 January – 13 January

 

09 January

 

Shoppers and business owners have signalled confidence in spending more, suggesting the credit-fuelled growth seen in late 2016 is showing few signs of flagging.

 

Fiat Chrysler Automobiles announced Sunday it would invest $1 billion in plants in Michigan and Ohio, creating 2,000 jobs, but the deal will not be finalized until incentives from state and local governments have been approved.

 

Property prices in south and east London have boomed since the last downturn, growing faster than anywhere else in the capital.

 

Britain’s benchmark index has matched the longest record-setting streak in its 33-year history, after it closed at a new all-time high yesterday, as the pound weakened.

 

10 January

 

Although this sausage skin maker comes with clear risks after two profit warnings, Scotland’s Devro is set to bounce back in 2017.

 

Britain’s benchmark index of leading shares closed at a record high for a ninth consecutive trading session, marking the FTSE 100’s longest run of successive all-time peaks since its inception in 1984.

 

Amid a major corporate culture and personnel shakeup, largely in order to keep a multi-billion dollar sale in place, Yahoo announced Monday its future name, its new chairman of the board, Eric Brandt, and a stripped down version of its governing board, Reuters reported.

 

11 January

 

UK industry “boomed back to life” towards the end of last year, putting the economy on course to maintain the strong pace of growth enjoyed in the aftermath of the Brexit vote

 

Polarised societies, “weaponised” gadgets and a backlash against globalisation are three of the biggest risks facing the global economy over the next decade, according to the World Economic Forum.

 

The FTSE smashed the 7,300 barrier in intraday trade for the first time in its 33-year history, touching a fresh all-time peak of 7,328.51 in afternoon trade, before closing up 15.02 points, or 0.21pc, to 7,290.49. It has now also registered ten record closing values in a row.

 

Ivanka Trump, who is leaving the Trump Organization and her apparel and accessories business to move to Washington when her father is sworn in as president, Wednesday appointed Abigain Klem to lead her company.

 

12 January

 

It has been some week for the economy. The FSTE 100 has hit historic highs, UK industry has been described as “booming back to life” and a string of Britain’s biggest shops have revealed that they enjoyed huge success over Christmas.

 

British companies across all sectors will remain resilient after the country leaves the European Union, even if the UK heads for a “hard Brexit”, according to Fitch.

 

The flotation of Neil Woodford’s Patient Capital Trust two years ago drew unprecedented attention to the sleepy investment trust sector. Thousands of investors subscribed a record £800m, far exceeding the float’s initial £500m target.

 

Mylan, the pharmaceutical company that makes the lifesaving allergy medication EpiPen and EpiPen Jr. autoinjectors, suffered yet another setback as Cigna, a major health insurer, on Jan.7 released a list of changes to its coverage for 2017 that included the announcement that it would be dropping coverage for the drug.

 

13 January

 

Britain’s jobless rate is likely to stay close to its pre-crisis low this year, as employment remains resilient following the Brexit vote, according to a Bank of England policymaker

 

The oil market’s tentative recovery has hit a setback as niggling concerns over Opec’s plans to cut supply punctured growing market optimism.

 

Baxter Healthcare Corp. agreed to pay more than $18 million to avoid criminal prosecution and resolve civil penalties for failure to following proper manufacturing procedures in production of sterile drug products at its North Carolina plant, the Justice Department said Thursday.

 

Financial news website 24/7 Wall St., which assesses customer service for U.S. citizens, compiled a list of the 12 most hated companies by customers, employees, and the general public. According to its findings, telecommunications conglomerate Comcast topped the list, followed by Bank of America, Mylan, McDonald’s, Wells Fargo, Facebook, Sprint, DISH Network, Sears, Sprint, Walmart and Charter Communications.