11 September – 15 September
A theme that emerged in Washington this summer was Donald Trump’s growing frustration with his stalled trade agenda. And with good reason. One of the president’s biggest economic campaign promises was a new, muscular approach to trade featuring hefty tariffs on China and other rivals as well as a wholesale ripping-up of US trade agreements. Things could still change. Yet, nine months in, it is fair to say Mr Trump is looking increasingly like a bully without a playground in which to exercise his muscle.
The renminbi suffered its worst day in three months after China’s central bank scrapped two rules intended to bolster the currency, in a sign that official nervousness about currency depreciation and capital flight has eased.
Cargill, the world’s biggest agricultural trading company, has agreed to sell its US steel fabrication centres as it continues to shuffle its sprawling portfolio in search of better returns.
Investor hopes of making money from cutting-edge cancer treatments were given a boost on Monday with particularly positive data from UK-based drugmaker AstraZeneca sending shares higher.
Super, soaraway sterling – at least for now… The pound is on course for one of its best days of the year after inflation data came in ahead of forecasts , offering succor to the more hawkish members of the Bank of England’s finely-balanced Monetary Policy Committee, which meets this week.
Asia shares have followed another record close on the S&P 500 to hit a 10-year high this morning. The MSCI International ex-Japan index tracking Asia Pacific shares, was up 0.57 per cent this morning and hitting its highest point in 10 years.
Wall Street isn’t lining up for Nordstrom’s latest retail foray — a store without inventory. The company’s shares fell more than 4 per cent on Monday after the US department store chain announced plans to launch its first “Nordstrom Local” store in West Hollywood next month.
Samsung Electronics said pre-orders of its latest flagship smartphone Galaxy Note 8 were exceeding its expectations, as the South Korean company seeks to move beyond last year’s safety debacle and braces itself for the latest iPhone debut later on Tuesday.
Qatar has injected about $38.5bn of its $340bn reserves into its economy to cushion the impact of its neighbours’ embargo, says a Moody’s report.
Austria has priced its 100-year bond at a yield of 2.112 per cent, raising €3.5bn in what bankers say is the largest ever century-long debt deal.
Toshiba announced it has signed a non-binding memorandum of understanding with a bidding consortium led by Bain Capital in the hopes of agreeing a sale of its prized memory chip business by the end of September.
Swiss luxury goods group Richemont has reported a 12 per cent rise in sales in the five months to August 31 in constant currencies, boosted by jewellery and strong performances in China and Hong Kong.
Growth in retail sales and industrial production in China slowed unexpectedly last month as expansion in fixed asset investment dipped more than anticipated.
The dollar reversed an early fall to reach its highest point in a more than a week against a basket of rivals, while US stocks inched to record levels and Brent oil hit a five-month high as participants digested comments from the Energy Information Administration.
Big Japanese and Canadian banks and some of Europe’s major lenders, including Intesa Sanpaolo and Standard Chartered, have been described as laggards in using technology to cut costs and automate operations, according to new research.
Global equities have rarely been pricier. That is causing anguish among fund managers and some concern among policymakers, but one unfashionable corner of the stock market remains cheap.
Russia’s central bank has cut interest rates by half a percentage point, as expected, taking the key rate to 8.5 per cent.
The pound edged up on Friday, building on its 1.4 per cent gain against the dollar in the previous session after the Bank of England gave its strongest signal yet that a rate rise is on the way.
Switzerland’s Nestlé is accelerating its expansion in the US coffee market by taking a majority stake in California-based Blue Bottle that values the café and roastery chain at more than $700m.
The Renault-Nissan alliance will produce 12 pure electric cars, double its synergies and launch a fleet of self-driving taxis by 2022, as the world’s largest carmaking group becomes more integrated and expands its bets on future technology.