08 January – 12 January

08 January

Unemployment in Portugal fell to 8.4 per cent in October, the lowest monthly rate in more than 12 years, the former bailout country’s statistics office said on Monday. A provisional forecast for November projected a further drop to 8.2 per cent.

Shares in GoPro plunged by as much as a 33 per cent to a new record low on Monday after the the embattled action camera maker unveiled a major restructuring of its business and warned that fourth quarter sales will come in sharply lower than expected.

Vauxhall will cut 250 jobs at its Ellesmere Port plant, on top of the 400 jobs it shed late last year, as the factory slims down to try and ensure its long term survival under Peugeot ownership.

Wall Street began the week on the back foot, slipping from record levels as investors appeared to pause for breath and as healthcare stocks slid

09 January

Mexican inflation peaked in August 2017 and is now edging down, right? Er, wrong, according to data out this morning.

Samsung Electronics has projected another record quarterly earnings on firmer memory chip prices, although analysts recently revised down the company’s fourth-quarter results due to the stronger Korean won and a special bonus.

Investors soured on shares of Urban Outfitters after the retailer behind brands like Anthropologie, Free People and its eponymous brand reported a decline in in-store sales over the two-month holiday period even as online sales grew.

Asia Pacific equities put in a mixed performance on Tuesday after Wall Street eked out new record closing highs.

10 January

Inflation in Brazil eased in December with the annual rate ending the year at 2.95 per cent in a country which has traditionally struggled with runaway prices.

US luxury department-store chain Nordstrom is marking up the bottom end of its full-year profit forecast range after an upswing in sales during the all-important holiday shopping season.

A record Christmas week and better than expected cost savings from the integration of the Argos business boosted J Sainsbury, which raised forecasts for full-year profits on Wednesday.

China is moving to wipe out its bitcoin mining industry following concerns of excessive electricity consumption and financial risk, in the latest sign of Beijing’s hostility to cryptocurrencies.

11 January

China’s foreign-exchange regulator has denied that the country intends to slow or halt purchases of US government debt following a report that helped propel the benchmark 10-year Treasury yield to a nine-month high this week.

BP, Chevron, ConocoPhillips, Exxon Mobil and Royal Dutch Shell are facing a lawsuit for “billions of dollars” after New York City accused the energy companies of contributing to climate change.

Italy’s Ferrero is on the verge of formalising a $2.8bn deal to acquire Nestlé’s US confectionery business, which includes brands such as Butterfinger, Nerds, Laffy Taffy and Crunch chocolate bars.

The Australian dollar gained as much as 0.4 per cent on Thursday on the release of data showing better-than-expected retail spending in November.

12 January

Sweden’s inflation rate slipped back below the central bank’s target in December, highlighting the fragility that has made the Riksbank reluctant to normalise interest rates despite the country’s strong economy.

The tech industry is struggling to send a clear message about the fallout from a security problem affecting most of the world’s computers, as Intel on Thursday talked down the impact on PC users, in contrast to comments earlier in the week from Microsoft.

French retailer Carrefour has said it will acquire a stake in flash-sale site Showroomprivé worth €79m from Conforama, in a move to accelerate its digital strategy and enter the online private sales market.

Asia Pacific equities were mixed on Friday following record highs on Wall Street overnight. Japanese stocks fell for a second consecutive day with the Topix index slipping 0.7 per cent as industrials fell 0.4 per cent and information technology stocks dipped 0.5 per cent. Uniqlo owner Fast Retailing, meanwhile, popped as much as 6.2 per cent to its highest since mid-2015 after it announced record operating profit for the first quarter.