02  January – 06 January

02 January

China has moved closer to dismantling a 2,000-year-old government monopoly on table salt by allowing producers to set prices and sell directly to the market.

Chinese residents hoping to cash out of the renminbi will face a great wall of paperwork on Tuesday in a test of confidence for the currency as the annual quota for individuals’ foreign exchange purchases resets.

When you book an Airbnb room in London, around a third of the $100 saving you make over the price of an average hotel room is due to tax advantages that favour Airbnb’s business model, according to research by the Financial Times.

The Consumer Electronics Show in Las Vegas attracts thousands of exhibitors and attendees searching for the next big thing, with this year set to feature a cornucopia of technological innovation from connected fridges to drones, smartwatches and virtual reality headsets.

03 January

Financial historians looking back at 2016 will comment on what did not happen. Politically if not economically it was a wild year and yet most global markets responded with either steady indifference or easy optimism.

The Indonesian government lashed out at JPMorgan Chase on Tuesday, saying it had severed all ties between the country’s finance ministry and the US bank over a downgrade to its equity rating.

SpaceX plans to resume launching rockets next week, after completing an investigation into a spectacular launch pad explosion that destroyed a rocket and a satellite in September.

Britvic, the UK soft drinks group, is set to buy Brazilian juice business Bela Ischia in its latest attempt to expand in the world’s largest concentrates market.

04 January

Foreign companies are continuing to flock to Ireland despite the twin shocks of Brexit and a €13bn adverse tax ruling against technology giant Apple last year.

Ford has scrapped its plan to build a $1.6bn plant in Mexico, aiming instead to invest $700m in a Michigan factory where it will build a new suite of electric and hybrid vehicles. The move came hours after Donald Trump tweeted that General Motors should build its cars domestically or pay a stiff import tax. On the same day the president-elect announced that Robert Lighthizer, a vocal advocate of protectionism, was his choice to be US trade representative.

Hillhouse Capital, one of China’s most prominent funds, is investing $250m in California-based Magento as it bets it can help the ecommerce software company expand in Asia.

The British competition watchdog has given MasterCard a week to respond to its concerns over the £700m acquisition of payment technology company Vocalink before the start of an in-depth investigation into the deal.

05 January

Bank of Cyprus, one of the biggest casualties of the eurozone debt crisis, is free to offer a dividend again after repaying its “monstrous” emergency funding almost a year ahead of schedule.

The US private sector added fewer jobs in December than Wall Street analysts had predicted, pointing to signs that the pace of job growth has slowed as the labour market nears full employment.

Apple has removed the New York Times app from its app store in China at the request of mainland authorities, furthering a clampdown on foreign media outlets that has worsened since President Xi Jinping came to power.

Macy’s warned on Wednesday that it could lay off as many as 10,100 US workers following downbeat holiday sales and lowered its full-year earnings outlook, sending its shares down more than 10 per cent in extended trading.

06 January

India’s real economic growth rate is set to slow this financial year, according to official estimates, though not as far as economists had predicted.

US wage growth accelerated last month to the quickest pace since 2009, underscoring rising inflationary pressure as President Barack Obama prepares to hand over the White House to Donald Trump.

Glencore, the miner and commodity trader, could take full control of a large African copper asset it jointly owns with billionaire Israeli-mining entrepreneur Dan Gertler.

SoundCloud, the German music streaming company, has warned it may run out of cash this year, after incurring a €51m loss in 2015, with the directors and auditors saying it may not be possible to continue as a going concern.