12 June – 16 June

12 June

As the City of London waits for Brussels to reveal how it will police the vast euro clearing market, the derivatives industry has sought an estimate of the worst-case scenario for users of swaps.

The Japanese yen strengthened in morning trade on Monday after wholesale inflation held steady and despite a weaker than expected result for a popular proxy of capital spending.

Qatar’s diplomatic showdown with its Arab neighbours has highlighted the risks associated with growing UK dependence on imported gas — and intensified calls from fracking supporters for Britain’s shale resources to be developed.

Weir Group, the maker of heavy-duty equipment for the oil and mining sectors, has unveiled an acquisition aimed at strengthening its position as energy markets recover.

13 June

When the house lights dimmed at this year’s E3 event in Los Angeles and the trailer for Sony’s Horizon Zero Dawn — The Frozen Lands erupted across the giant screen, there were two main conclusions.

The Czech central bank said on Tuesday that it would increase banks’ counter-cyclical capital requirements, as it warned that mortgage lending standards in the central European country had become “highly relaxed”.

The French labour market showed no ill effects from the country’s major presidential election at the start of the year, registering an acceleration in the rate of jobs growth.

Merck said it had stopped recruiting patients to some clinical trials of its immunotherapy drug to “better understand more reports of deaths”, sending its shares down in after-hour trading.

14 June

Germany’s top central banker has warned of the dangers from digital currencies, saying that their creation could worsen financial crises. Speaking in Frankfurt on Wednesday, Jens Weidmann, the Bundesbank’s president, acknowledged the creation of an official digital currency by a central bank would assure the public that their money was safe.

US inflation has again undershot Wall Street expectations, providing a troubling backdrop to Wednesday’s Federal Reserve rate-setting meeting.

BlackBerry has teamed up with a London start-up to help banks monitor traders that use WhatsApp and other encrypted messaging tools.

Inditex, the world’s biggest fashion retailer, reported a 14 per cent jump in first quarter sales to €5.57bn, with net earnings rising at an even faster clip, by 18 per cent to €654m.

15 June

Investors injected further momentum into the Canadian dollar rally, egged on by hawkish comments from policymakers, pushing it to its best level against its US counterpart for 3½ months.

Australia’s unemployment rate fell to its lowest level since 2013 thanks to an unexpectedly strong labour market report, sending the Australian dollar to a seven-week high.

The life sciences division of Google’s parent company has made its biggest push into drug development by investing in a new fund that will buy stakes in European biotech groups, underscoring its growing interest in the pharmaceuticals industry.

Less could soon mean more for China’s power sector. Beijing is weighing ambitious proposals to consolidate its electricity generators into national energy behemoths, a process that may result in a triopoly of power giants commanding nearly a trillion dollars of assets.

16 June

The Bank of Japan kept interest rates on hold and tweaked its view of the economy upwards in a steady-as-she-goes decision on monetary policy.

Next suffered the sharpest fall since its January profit warning on Thursday as retailers led the FTSE 100 sharply lower.

Nike is cutting roughly 1,400 jobs, or 2 per cent of its global workforce, as part of an effort to overhaul its business to sell more products directly to consumers and reverse slowing sales growth.

Majestic Wine swung into a loss last year following flat sales to restaurants and a failed attempt at direct marketing in the US, but said a turnround plan had begun to bear fruit.