04 June – 08 June

04 June

Australian retail sales rose in April with unusually hot weather boosting spending at cafes and restaurants across the country.

The UK government should encourage the publicly owned British Business Bank to invest in start-ups to offset the impact that Brexit will have on funding for the tech sector, according to a think-tank.

Hedge funds appear to be falling out of love with oil, having reined in a record-breaking bet on higher prices, as Opec and Russia discuss raising production ahead of their meeting this month.

Accor, Europe’s largest hotelier by room numbers, is considering taking a minority stake in Air France-KLM in a move that would create a leader on the continent in the travel industry.

05 June

South Africa’s economy contracted at the sharpest rate in almost a decade in the first three months of the year, according to official statistics, underlining the challenge confronting President Cyril Ramaphosa’s bid to revive growth.

Microsoft chief executive Satya Nadella on Monday unveiled his biggest bet yet on rebuilding the company around open-source software, with the $7.5bn acquisition of online code-sharing platform GitHub.

Italy’s state-controlled energy group Enel, snapped up 73 per cent of the shares of Brazil’s power company Eletropaulo for R$5.52bn ($1.48bn) on Monday, formally ending a heated bidding war with Spain’s Iberdrola. The deal would make it the largest electricity generator of Latin America’s largest country.

Twitter shares climbed in pre-market action in New York on Tuesday on news the social media company will be added to the benchmark S&P 500 index.

06 June

The EU has confirmed plans to target €2.8bn of US products with extra tariffs as it prepares its retaliation against Donald Trump’s move to hit European steel and aluminium with punitive duties.

WH Smith’s shift from the high street to travel hubs has helped it keep sales on track, boosting shares at the start of trading on Wednesday.

Uber plans to launch is new e-bike rentals service across Europe this year, as it steps up its investment in the increasingly competitive market for alternatives to cars for getting around cities.

Asia-Pacific stocks mostly edged higher in early trading after a rally for tech stocks on Wall Street overnight helped to offset investor caution over the simmering US-China trade dispute.

07 June

Australia posted an eleventh-consecutive trade surplus in April but one economist has warned exports will not provide as much support to gross domestic product growth in the second quarter.

European packaging producer RPC insisted that its investors had nothing to fear from government crackdowns on plastic, even as the company’s share price dropped as much as 15 per cent on Wednesday amid rising concerns over its cash conversion.

Volvo Cars plans to double sales and raise profit margins by 50 per cent by the middle of the next decade through an expansion of its subscription service and selling more vehicles to ride-hailing fleets.

For equity investors, Japan’s demographics present an endlessly foggy vista punctuated with fleeting moments of clarity. The past few weeks have provided one such: buy bread, sell marriage.

08 June

Exports from the Philippines shrank at a still faster pace in April as growth in electronics shipments failed to offset losses elsewhere.

Energy stocks were muted in early Asia-Pacific trading on Friday despite a jump in the price of crude overnight.

An eventful start to the year for Broadcom — which saw its efforts to take over rival Qualcomm rebuffed and ultimately blocked, even as it moved back to the US — did not seem to weigh on its quarterly sales, which rose 20 per cent year-over-year.

Infineon raised its revenue outlook on Friday and said it plans to increase manufacturing investments to keep up with growth in high-tech industries.