16 July – 20 July

16 July

Sibanye-Stillwater, the South African gold and platinum miner, has raised $500m through a streaming deal with Wheaton Precious Metals in an effort to reduce its debt following a string of acquisitions.

China’s premier Li Keqiang has extended an olive branch to the US in the midst of Beijing’s efforts to rally international support against new trade tariffs imposed by the Trump administration.

UK property group British Land said on Tuesday that the tough retail climate had hit its rental income after hundreds of shops closed in the early months of the year.

Share on Facebook (opens new window) Share on LinkedIn (opens new window) Share Save Save to myFT Song Jung-a in Seoul JULY 17, 2018 Print this page Shares of Asiana Airlines shot up more than 20 per cent on Tuesday morning on a media report that SK Group is considering buying the troubled airline – a claim the conglomerate later denied.

17 July

US stock futures tip Wall Street for a modestly lower open on Tuesday as investors digest a fresh slate of earnings and await Federal Reserve chair Jay Powell’s testimony.

Singapore’s non-oil domestic exports grew at a slower pace than forecast in June with the picture unlikely to improve as the US-China trade war disrupts regional supply chains, economists said.

Netflix tussled with Walt Disney for the crown as the world’s most valuable media group after disappointing subscriber growth prompted a share price slide at the Silicon Valley video streaming service.

US homebuilder confidence held steady in July, as growing demand for housing offset concerns about rising construction costs.

18 July

The gatekeepers of the UK’s £1.6tn pension fund industry have avoided a forced break-up of their businesses after the UK’s antitrust body stopped short of recommending an overhaul of the investment consultancy sector. But they face increased regulation and mandatory tendering.

The yen slipped past the ¥113 mark on Wednesday for the first time since January as it continued its slide against the dollar despite a plethora of tense geopolitical issues.

Welcome to the $900bn market-cap club Amazon. The e-commerce giant briefly became only the second company after Apple to cross this market value milestone on Wednesday after its shares rose as much as 0.8 per cent at a record $1,858.88.

Brussels has hit Google with a record €4.3bn fine for abusing the dominant market position of its Android operating system for mobile phones.

19 July

Dollar earners such as Johnson Matthey and Ashtead were the top performers as a 10-month low for sterling helped propel the FTSE 100 higher.

The US Department of Commerce has begun an investigation into whether the country’s imports of uranium are a threat to national security, opening a new front in its escalating series of disputes over international trade.

Philip Morris International’s bet on a smoke-free future has hit a snag. The world’s biggest listed tobacco company sharply lowered full-year earnings guidance on Thursday as efforts to win customers for its smokeless devices struggled to gain traction

Retail sales volumes unexpectedly dropped in June, but after two strong months of growth sales for the quarter grew at their fastest rate since 2015.

20 July

Russia is already enjoying a World Cup windfall of positive international PR and a surge in national pride after staging a widely praised tournament and seeing its team defy rock-bottom expectations. The event also gave its economy a welcome shot in the arm, the country’s top bank said on Thursday.

Inflows into technology-focused funds have surpassed the $20bn mark for the year so far, despite rising concerns among some fund managers that the “ tech trade” is overextended.

Agriculture chemicals group UPL agreed to purchase a unit of Platform Specialty Products for $4.2bn on Friday, in a deal that will bolster the company’s offerings of pesticides for farmers.

“Dating” at Lego is not about people, but pieces. The Danish toymaker, which uses 20 different materials in the 75bn parts a year that go into its construction sets, is on a quest to swap all the oil-based plastics it uses for more sustainable materials by 2030. The ambitious push will change the make-up of just about everything it produces, from dragon’s heads to miniature car tyres.