17 April – 21 April
Selling bonds in four currencies on the same day around the world is a feat few companies attempt. Bank of China raised $3bn doing so last week — and paid less to do so than it initially feared. Put that together with Monday’s data showing surprisingly strong growth in China, and it would appear as if boom times in the wild east are back. That they are not — given China’s economy is expected to soften slightly from this high point — is unlikely to deter companies’ interest in borrowing overseas, however.
Mick Rausch voted for Donald Trump last year with almost as much gusto as he has felt for every Republican presidential candidate since Richard Nixon. For a Kansas farmer, voting Republican red is part of their political DNA. “We bleed red here,” he says.
The head of the world’s biggest hotel company has warned that Donald Trump’s immigration policies are damaging the US tourism industry, adding his voice to concerns that international travellers are avoiding the country this year.
Taiwan’s Foxconn has approached Apple about a potential joint bid for Toshiba’s flash memory business in what could be a $28bn takeover battle.
It was a mixed day for currencies around Asia with a pause in tensions around North Korea. With the level of stress in markets easing slightly from last week, the yen was trading 0.1 per cent weaker today at ¥108.90 per dollar.
Stocks around Asia were mixed as two major markets returned from the Easter long weekend, and despite a slight easing in buying of havens as tensions surrounding North Korea looked to take a breather.
Measures of market expectations for US inflation have eased to their lowest levels of the year, reflecting declining oil prices and doubts over the administration’s timeline for stimulative economic policies.
Japanese advertising giant Dentsu has agreed to acquire an 89 per cent stake in Indian digital agency SVG Media. Dentsu said its subsidiary Dentsu Aegis Network would acquire the stake in SVG Media Group with the option to increase its share to make the Indian company a wholly owned subsidiary.
A debt binge has left a quarter of US corporate assets vulnerable to a sudden increase in interest rates, the International Monetary Fund has warned. The ability of companies to cover interest payments is at its weakest since the 2008 financial crisis, according to one measure.
James Packer, the Australian billionaire owner of Crown Resorts, has offloaded his stake in the entertainment studio that has helped finance movies including Gravity, American Sniper, Birdman and The Revenant.
China’s restraints on capital outflows have started to discourage inbound investment into the country, the opposite of the intended effect of the measures.
Burberry notched up a 3 per cent rise in comparable sales in its second half led by an “exceptional” performance in the UK and a welcome return to growth in its Chinese market.
Too big to ignore but too opaque to entirely trust. China is engaged in a charm offensive to lure foreign money into its bond market, which has grown in a short period of time from a minnow to the third largest in the world, after the US and Japan.
Online marketplace eBay on Wednesday reported better-than-expected profit and a year-on-year increase in revenue, while boosting its full-year earnings per share forecast as it continues to build on its recent partnership with Indian e-commerce company Flipkart..
American Express posted a slimmer-than-expected fall in first quarter profits and revenues, as higher cardholder spending and interest income dulled some of the impact of the loss of its co-branding relationship with Costco.
Unilever is eyeing a break-up of its margarines business to get the best price in an auction that could kick off as early as June. The Anglo-Dutch consumer goods company said this month it would sell or demerge its margarines and spreads unit — which includes brands such as Flora and I Can’t Believe It’s Not Butter — as part of a business overhaul following Kraft Heinz’s failed $143bn takeover approach for Unilever.
The US has set the stage for a global showdown over steel, launching a national security investigation that could lead to sweeping tariffs on steel imports in what would be the first significant act of economic protectionism by President Donald Trump.
Rio Tinto has cut production guidance for copper by 12 per cent following problems at two giant mines where it is involved in joint ventures, and reported lower th
A drug made by Sanofi to treat epilepsy and bipolar disorders that was given to pregnant mothers resulted in up to 4,100 French children being born with major birth defects, the French medical authority said on Thursday.
The Loonie came under selling pressure on Friday after fresh data showed an unexpectedly sharp cooling in Canada’s consumer price growth. Consumer prices were up 1.6 per cent year-on-year in March, compared with a rise of 2 per cent in the previous month, and expectations of 1.8 per cent. On a month-on-month basis, prices were up 0.2 per cent, short of the 0.4 per cent that was expected.