03 July – 07 July

03 July

Donald Trump’s trade threats are causing an unexpected reaction among America’s G20 peers, according to a study that finds the world’s other leading economies are taking fewer protectionist moves than in recent years even as the US erects more trade barriers.

China and Hong Kong have launched a bond trading link that brings the world’s third-largest debt market one step closer to widespread acceptance in international investors’ portfolios.

It might sound like a strange complaint against an industry often accused of scrimping on research to fund marketing efforts, but some executives and scientists say drugmakers are doing too many clinical trials in the hot new field of immunotherapy.

A consortium led by France’s Total is set to sign a multi-billion-dollar gas deal with Iran, the Islamic republic’s first major energy contract with a European oil company in more than a decade as transatlantic differences over relations with the country deepen.

04 July

Bond investors are anticipating a slower pace of debt sales from European governments over the rest of the year, potentially providing some support for prices if the European Central Bank does begin to unwind its stimulus programme.

Wall Street benchmarks made progress thanks to the longest streak of gains for crude oil in more than five years, lifting energy stocks, The price of Brent and West Texas Intermediate oil — the international, North Sea and US crude benchmarks respectively — both climbed for an eighth day running on Monday, putting Brent within touching distance of $50 a barrel again. That is the longest run of uninterrupted gains since February 2012.

Jia Meng issued a profits warning on Monday. The Hong Kong-listed mattress maker gained notoriety last week as a member of a 50-strong network of small-cap companies that hold each others’ shares — dubbed “Enigma” — that plunged as much as 90 per cent without notice, erasing $6bn in capitalisation in minutes.

Lotte Group, South Korea’s fifth-biggest family-owned conglomerate, has cut the price range for a revived initial public offering of its Malaysian petrochemicals unit amid weaker investor appetite.

05 July

An independent gauge of China’s services activity showed the pace of growth in the sector slipping last month, exerting a drag on overall economic expansion despite a rebound in manufacturing activity.

US stock exchange operator Nasdaq rejected blame for a data-feed error that radically altered the share prices of household names such as Apple and Amazon in after-hours trading the day before Wall Street closed for the US Independence day holiday.

Volvo Cars announced that every model from 2019 onwards would have an electric motor, making it the first traditional carmaker to call time on vehicles powered solely by an internal combustion engine.

Nappies for grown-ups, glue, a source of energy, and even building blocks for student housing in Norway and flats in London’s Elephant & Castle district — these are just four of the different ways of using wood that the forestry industry is pushing as it looks for growth.

06 July

True Religion filed for bankruptcy protection on Wednesday, as the pioneer of designer denim struggles to adapt to a generational shift in shopping habits.

European and Japanese leaders confirmed that they have reached a political agreement on a free-trade deal to liberalise markets from dairy products to car parts.

Asian equities were enduring a directionless morning session on Thursday as benchmarks in the region were weighed on by energy stocks falling in reaction to an oil price slide during the previous session.

As a former Goldman Sachs partner and executive at SFR, France’s second-largest telecoms operator, as well as Alcatel-Lucent, the telecoms equipment maker, Jean Raby had already racked up the air miles. But he was unprepared for the amount of jetting around needed in his new role as chief executive of Natixis Global Asset Management, the sprawling, multi-faceted French investment group.

07 July

Industrial production in Spain smashed expectations in May, according to official data, echoing recent surveys that have suggested the sector is in rude health and making it the third major eurozone economy this morning to report better than expected figures.

Twelve days after completing the biggest takeover in its history — the $18bn acquisition of baby milk group Mead Johnson — Reckitt Benckiser found itself with a far bigger problem than how to integrate the IT systems of the US company with its own.

A senior Federal Reserve official has warned the US faces a “now or never moment” when it comes to reforming its housing finance system, warning the country remains mired in an unsustainable position where taxpayers are being put at risk by giant, government-backed agencies.

Tesla Motors and now Volvo may have big plans to end the addiction of drivers to fossil fuels via electric vehicles, however the environmental footprint of mining raw materials used in car batteries and their eventual disposal are emerging as a flash point.