25 September – 29 September

25 September

Ride-hailing app Taxify made progress with its application for a licence to operate in London last week, just as Transport for London decided to withdraw the permissions for rival Uber in the city, said people close to Taxify.

Aldi’s profits in the UK and Ireland slipped last year even as sales notched a fresh record, the discount grocer said on Monday in the latest sign of the intense competition in the supermarket sector.

Mario Draghi has delivered a bullish assessment on the eurozone’s recovery, saying that growth in the region would outpace its historical average in the coming quarters.

Due largely to unfavourable demographics, few countries have had more obituaries written about it than Japan. In the hierarchy of economic geriatrics, Japan stands at the apex, and for good reason.

26 September

A rebound in global trade and improved prospects for China have provided a boost to Asian economies, prompting the Asian Development Bank to raise its growth forecast for the region.’

When a mix of Chinese privately owned and state-owned companies came together in August to buy shares in China Unicom’s $11.7bn offering, Beijing heralded it as another milestone for reform of country’s state-owned enterprises.

Japanese banks plan to introduce a digital currency ready for the 2020 Tokyo Olympics as they respond to the threat from China’s Alibaba, which recently launched its mobile-phone payments service in the country.

JC Flowers is looking to sell its remaining 20 per cent-plus stake in Shinsei Bank, the Japanese lender that the US group resurrected and turned around in one of global private equity’s most lucrative deals.

27 September

The Czech National Bank kept its interest rates on hold after its September policy meeting, disappointing some hopes for a second rate rise in two months.

What next for the miners after a choppy 2017? Analysis from Liberum puts the sector’s strong start to the year down to the late stages of a cyclical upturn in China, its biggest destination market. Monetary tightening there took a toll in the second quarter, before clearer insight into reforms in the summer lifted the mining sector back toward its highs from late June.

Fierce price competition in the UK’s domestic energy market has caused a drop in customer numbers at First Utility, one of the largest challengers to the big six electricity and gas suppliers.

Nestlé has for the first time set a target for increasing profit margins, marking a significant shift from its traditional sales-focused model as the Swiss company reacts to competitive pressures facing big consumer goods groups.

28 September

Puerto Rico is facing unprecedented devastation at the hands of not just one hurricane, but two. Maria, last week, made landfall with winds of 155 miles an hour, unleashing torrents of rain in the most powerful storm to strike the island since 1928. It has robbed Puerto Rico’s 3.4m inhabitants of electricity, potentially for months, deprived many of water and communications, flooded roads and destroyed hospitals and homes. The US territory is now on the brink of a public health crisis.

Emerging markets currencies are under fire on Wednesday as investors rachet up their bets on a December rate hike in the US after Federal Reserve chief Janet Yellen stuck to her views that gradual rate rises are needed despite persistently weak inflation readings.

Uber is shutting its lossmaking car leasing business Xchange Leasing, which bought cars and loaned them to drivers unable to purchase their own.

The owner of the UK’s largest power station has argued its giant plant in North Yorkshire can still play a meaningful role in the country’s energy system, even as more electricity is provided by renewables and smaller plants that fill gaps when wind and solar power is not available.

29 September

Palladium achieved price parity with sister metal platinum for the first time in sixteen years this week, as investors searched for ways to bet on trends in the automotive market.

US consumer sentiment in September was blown slightly off course by a string of damaging hurricanes but remained relatively resilient otherwise, making the first nine months of 2017 the best on record since 2000.

Dyson’s ambition to make a battery-powered car will be its biggest challenge yet. The British engineering group best known for vacuum cleaners will need much more than just technical know-how to avoid becoming the latest on the scrapheap of failed car companies.

Carillion’s woes deepened on Friday as the UK construction company reported a first half pre-tax loss of £1.15bn and said it was exploring a range of options — including a share sale and fresh asset disposals — to tackle its debt-laden balance sheet.