05 December – 09 December

05 December

Growth in Spain’s services sector accelerated in November, according to a closely-watched survey of sector activity strattera capsule. IHS Markit’s purchasing managers’ index rose to 55.1 from October’s 54.6, its 37th consecutive month of improvements. A reading above 50 indicates expansion. Economists had predicted a reading of 55.0.

In another blow to the European establishment, Italian voters said a resounding no to prime minister Matteo Renzi’s constitutional reforms in a referendum on Sunday. As the defeat became apparent, Mr Renzi announced that he would resign. The result has plunged Italy into political crisis and raises fears of turmoil in the country’s banking system. The euro briefly dropped to its lowest since March 2015 in Asian trading but both the currency and shares in Italian banks later rallied after the initial losses.

China’s commodities traders brushed off a strengthening dollar and Twitter attacks from the US president-elect on Monday morning, driving key futures prices higher at the week’s outset.

Corporate share buybacks on Wall Street, a major source of demand for US equities since the financial crisis, are expected to set a new record thanks to a boost from the incoming Trump administration’s planned tax overhaul.

06 December

Last spring, Sime Darby, a Malaysian conglomerate, announced that it planned to sell noncore assets. It was an attempt to generate cash because much of its Rm16bn debt was coming due quite soon. Like many other companies in Southeast Asia, Sime Darby had ramped up borrowing in the expectation of better economic times that failed to materialise. Its debt swelled from Rm10bn in 2013 to Rm18bn in 2015, while net income dropped by 30 per cent, according to Bloomberg data.

Bringing skills she gained working at a bank to her grocery store in Caracas, beset by a triple-whammy of ravaging food shortages, galloping inflation and plummeting currency, Miriam Borthomier relies on a basic but time-saving algorithm: 100 notes of any denomination of Venezuela’s currency weigh 110 grams.

Stock markets have a new purpose. Once devoted to trading stocks and setting their prices, they are now the venue for buying and selling something other than shares: exchange traded funds.

A tax holiday for US companies looms under president-elect Donald Trump, with some seeing this wave of cash as the catalyst of an investment boom and faster US economic growth. However, analysts and investors caution that the likeliest result is companies putting the money into share buybacks, echoing what happened in 2004 when the last overseas tax holiday was announced.

07 December

Some of the clouds looming over the North American telecommunications and cable industry could part next year depending partially on the fate of the proposed Time Warner-AT&T mega-merger, according to Fitch Ratings.

US President-elect Donald Trump took to Twitter on Tuesday to say Japan’s SoftBank plans to invest $50bn in the US in a move that would create 50,000 new jobs.

UK house price growth slowed significantly in November after an unexpected jump the previous month, according to Halifax’s latest monthly survey.

The pound has fallen 0.6 per cent against the dollar today, marking its worst run since mid-November after a grim set of numbers on the state of UK industry were released earlier this morning.

08 December

A handful of hedge funds are emerging as big winners this year, even as the industry has struggled to assuage investor ire over high fees and mediocre performance.

Shares in Tokyo Electric Power have continued to climb in Tokyo amid reports the government would boost by more than half an interest-free loan to the nuclear power plant operator.

The Nasdaq Composite became the latest Wall Street gauge to hit an all-time high, as a rally in European stocks following the European Central Bank’s decision to scale back its quantitative easing programme helped to bolster US equity markets.

Investors have poured money into small-caps partly on hopes that Mr Trump and a Republican-controlled Congress will deliver a stronger domestic economy. What has added to their sheen is the bet they will be shielded from the stronger dollar that has been a thorn in the side of large US multinationals and their reliance on foreign revenues over the past two years. The cut in the US corporate tax that Mr Trump has promised is also expected to help as smaller companies tend to pay a higher rate than larger entities.

09 December

The IMF on Thursday said it was watching the climb in the dollar seen since last month’s US election and working through its potential impact on emerging markets.

The Czech National Bank may be close to injecting some excitement into its currency, if today’s inflation figures are anything to go by.

Oxford Sciences Innovation, which commercialises science and technology from Oxford university, has expanded its coffers to £580m in a new funding round, making it the largest private university fund in the UK.

Spotify has abandoned plans to acquire rival SoundCloud, as the music streaming company gears up for an IPO next year.