10 July – 14 July

10 July

There has been much talk in the wake of the G20 summit that concluded on Saturday about Donald Trump’s isolation and the loss of US leadership. So it’s worth asking what that might mean for the future of global business.

Which came first: the rally in emerging markets, or the boom in their tech stocks? The sector has become the biggest single grouping in emerging markets this year for the first time since the dotcom boom. Cue several as-yet unsuccessful efforts to label EM techs with a catchy equivalent to the US FANGs (Facebook, Amazon, Netflix and Google). But simply equating the sector with hot US tech rivals sells it short: hardware, as well as internet enthusiasm, is driving this rally.

Abercrombie & Fitch shares extended their fall by mid-morning and were on track for their biggest one-day drop in nearly 17 years after the retailer said it had “terminated” talks on a possible merge.

Dublin is the top destination of the leading financial services companies that have already made statements on where they plan to set up their post-Brexit EU bases, a report from EY reveals.

11 July

Size isn’t everything, unless, of course, you are talking about returns. European small-cap and mid-cap companies had a strong run in the first half, when returns reached 10.3 per cent, notes Credit Suisse. Since then, a weaker showing in June has created a buying opportunity, according to analysis from the bank.

Google is grappling with how to make sure artificial intelligence benefits humans more than it hinders them, as the powerful new technology starts to permeate all of its services.

An industrial transformation is under way. The world’s leading companies that for decades have made catalysts that cut harmful and toxic emissions in vehicle exhausts are switching focus. Their aim: to become key players in powering the electric cars of the future.

Ben Broadbent, the Bank of Engalnd’s deputy governor for monetary policy, declined to reveal his thinking on interest rates while giving a speech on Tuesday in Scotland.

12 July

The Bank of Canada lifted its benchmark lending rate on Wednesday for the first time since 2010, reacting to rapid job growth and buoyant property prices, in the latest sign that global policymakers feel comfortable peeling away stimulus measures.

Lerado Financial Group, a securities firm linked to the “Enigma” network of small-cap stocks, has warned the spectacular crashes suffered last month by members of the 50-strong group will cost it $42m.

For much of the past two decades Pearson has been selling off some of its highly prized assets to reposition the one-time conglomerate as a pure education business. Château Latour, Madame Tussauds, Lazard Brothers, FTSE International and the Financial Times have been disposed of in pursuit of a strategy put in place by Dame Marjorie Scardino and now being overseen by her successor as chief executive, John Fallon.

Toshiba has revived negotiations with Western Digital, Foxconn and other potential buyers of its prized memory chip business, according to bankers, as fissures deepen within the preferred bidding consortium and a row over the legality of the auction comes to a head.

13 July

Beijing may currently favour megamergers when it comes to reform of state-owned enterprises, but at least one central bank adviser is suggesting a different approach to dealing with China’s lossmaking zombie companies.

Off a side street, at the edge of an industrial estate in south London, around a broken Ikea desk in a serviced office cluttered with cardboard boxes, an analyst was pitching ideas for potentially worthless investments.

Royal Dutch Shell has raised a further $1.23bn in support of its debt-reduction drive with a deal to sell its stake in Ireland’s Corrib gas field to a Canadian pension fund.

Net income at Uniqlo owner Fast Retailing came up short in the third quarter as domestic sales at said flagship retail chain fell.

14 July

US consumer sentiment has edged lower in July, as expectations of long-term future economic prospects continued to decline despite growing confidence in the current state of affairs.

Rupert Murdoch’s 21st Century Fox has declined to table a new offer to protect the editorial independence of Sky News, almost certainly triggering a full inquiry by the British competition authorities into the US media group’s £11.7bn takeover of satellite broadcaster Sky.

Vamos! The rally in the Mexican peso showed little sign of slowing on Friday, with the currency set to log its biggest weekly gain since late January.

Sterling rallied to a near 10-month high on Friday as investors are cheered by the British government’s constructive tone over its Brexit divorce bill ahead of a new round of talks with the EU next week.