29 May – 02 June

29 May

The World Bank has begun advising the Trump administration on its infrastructure plans, the latest product of a budding relationship between first daughter Ivanka Trump and bank president Jim Yong Kim that is raising eyebrows among bank veterans and governance experts.

Egypt’s finance minister said investors were buying in to the crisis-hit country’s economic reform programme after its latest bond issue was nearly four times oversubscribed.

By 2014, Good Technology had reached mythic “unicorn” status: a tech start-up with valuation exceeding $1bn and a wealth of options about how investors, management and employees could cash in. But just a few months later, the venture capitalists on the mobile software company’s board were suddenly feuding about whether it should sell itself or list on a public stock exchange. Tensions increased so much that directors resorted to insults.

Nasdaq and the Shanghai Stock Exchange are in talks to acquire stakes in the Kazakhstan stock market to be launched this year, as its owners look to attract international investors to the Central Asian country.

30 May

Japan’s household spending pushed further into contraction in April, but retail sales rose at a markedly faster rate thanks to a boost from purchases at department stores and supermarkets.

A crackdown on China’s $9.4tn shadow banking business is hitting bank share prices and rattling bond markets. The country’s new top banking regulator has already taken several shots at stemming the rapid growth of off-balance-sheet lending at banks since taking control in February. The central bank has also tightened liquidity in the financial system, sparking angst earlier this year.

The road ahead looks rocky for Hyundai Motor, as the South Korean carmaker attempts to navigate reputational and sales pitfalls abroad and outmanoeuvre encroaching rivals at home.

China investing has become strikingly bipolar, with the strategies of many fund managers set by the answer to one overriding question: “Is the Communist party strong enough to resolve the economy’s chronic debt addiction?”

31 May

Donald Trump has spent months dithering over whether to pull the US out of the Paris climate agreement. The US president has promised, via Twitter, that he will finally make a decision this week. But does it really matter if the US quits the UN deal that almost every country adopted in Paris in December 2015?

A suite of industrial data released by South Korea’s statistics office suggest a sluggish start to the second quarter of 2017. Industrial production rose 1.7 per cent in April compared to a year ago, according to Statistics Korea. That marked the second straight month of slowing growth and fell far short of a median forecast predicting a 5 per cent rise from economist polled by Reuters.

A company that has funded legal action against groups such as Tesco is setting its sights on Petrofac following a steep fall in the share price of the oilfield services group, triggered by revelations around a UK Serious Fraud Office investigation.

US stock index futures pointed to a lower open on Tuesday as investors await key economic reports following a three-day holiday weekend.

01 June

Vietnam’s manufacturing sector last month saw its weakest growth since March 2016 as companies reported slower rises in output and new orders. The headline figure for Nikkei-Markit manufacturing purchasing managers’ index fell to 51.6 in May from 54.1 in April, but remained above the 50-point line separating expansion from contraction.

Taiwan’s manufacturers saw growth ease last month as slower expansion of output and staff numbers offset a solid rise in demand. The Nikkei-Markit manufacturing purchasing managers’ index dipped to 53.1 in May, down 1.3 points from April’s reading and moving the closest to the the 50-point line separating expansion from contraction since October.

Once, Cardiff was at the heart of an economy based on coal and steel. But, in recent years, the Welsh capital has been looking to grow new industries such as digital start-ups to help secure its future.

The Australian dollar was down 0.5 per cent at $0.7396, the lowest level since the middle of May. The currency initially gained as much as 0.3 per cent following Thursday’s data releases but quickly sank as traders focused on the capex data falling short of expectations.

02 June

South Korea’s economy grew faster than initially estimated in the first quarter as upward revisions to exports, manufacturing and services sector activity delivered a boost to the second reading on gross domestic product.

Donald Trump has insisted for months that he is not under investigation by the Federal Bureau of Investigation over his alleged campaign links with Russia, citing two factors as proof. The first: that he was assured so by James Comey, the former FBI director. The second: a lack of paperwork.

Google will enable publishers to ask readers who use ad-blockers for micropayments, as part of a push to improve the quality of advertisements and combat the rise of ad blockers.

It has been a tough, frustrating year for the loyal disciples of investment legends like Benjamin Graham and Warren Buffett. Value stocks — cheaper, out-of-favour but fundamentally solid companies — have languished behind the runaway train of technology shares, renowned for their growth prospects.