30 July – 03 August
Sweden’s economy roared ahead in the second quarter of the year driven by a boom in consumer spending, giving the krona a lift and defying expectations for a moderation in the pace of economic growth in the Scandinavian country.
Investors sold off technology shares on Monday, leaving the closely monitored group of Faang stocks down more than 2 per cent and in correction territory.
T-Mobile US has signed a $3.5bn deal with Nokia to supply telecoms equipment for a roll out of 5G networks across the country.
Dutch brewer Heineken cut its profit expectations for the year as weak margins in its growing Brazilian market, adverse currency moves and a series of misfortunes took the fizz out of its half-year results.
Concerns over a slowdown in the eurozone rose on Tuesday after official figures showed growth in the region hit its weakest rate in two years in the second quarter.
The past month has been a volatile one for tech stocks, with Facebook, Netflix and Twitter suffering share-price plunges after reporting their latest earnings. Apple, however, could yet outdo them all in the stock-price drama. If an unexpectedly strong set of results puts a rocket under its shares, the world’s most valuable company could quickly become the first to hit a market capitalisation above a trillion dollars.
Shares in MoviePass owner Helios & Matheson plunged again on Monday as investors and customers of the unlimited-cinema ticketing service fretted that its survival might have become “Mission: Impossible”.
Asia-Pacific’s major bourses were mostly in negative territory in early trading on Tuesday as a tech sell-off on Wall Street and investor caution ahead of a slew of key central bank meetings weighed on sentiment.
Signs of buoyancy in Spain’s factory sector weakened further in July, in the latest indication that growth in one of the eurozone’s strongest economies is moderating.
The publishing company founded by Felix Dennis, the late media entrepreneur, has been sold for £166m to private equity firm Exponent.
Shareholders in Rio Tinto are set to enjoy a cash windfall after the Anglo-Australian miner said it would return more than $7bn through dividends and share buybacks.
Wall Street was higher at the open on Wednesday as Apple shares climbed after strong results and as benchmark US Treasury yields crossed the 3 per cent mark ahead of the Federal Reserve’s policy meeting later today.
The Czech central bank has raised rates for the fifth time in a year, in its latest attempt to cool the central European country’s booming economy.
Pinpointing the moment when Apple will officially become the first trillion-dollar public company is trickier than it may seem, largely because of the company’s mammoth stock buyback programme.
GAM shares tumbled for a second time this week after the crisis-hit Swiss asset manager froze redemptions from bond funds with SFr7.3bn ($7.3bn) in assets following the suspension of one of its top portfolio managers.
A trade of the decade was made in December 2016 by Gloria Gebbia, mother-in-law to Real Housewives of Beverly Hills star Carlton Gebbia, who spent $7.8m to buy 91 per cent of Siebert Financial, a New York brokerage founded by the first woman to own a seat on the New York Stock Exchange.
Growth in Japan’s service sector broadly continued at a steady pace in July with an uptick in new business and employment growth at a four-month high, according to an industry gauge.
TripAdvisor shares eye worst day since November after the travel review and booking site posted disappointing quarterly revenues and as investors failed to drum up excitement for the earnings beat.
Crédit Agricole’s asset management business and investment bank helped push profits above market expectations in the second quarter.
China has been knocked from its perch as the world’s second-biggest stock market by Japan following a months-long rout that has wiped $2.29tn off the value of its stocks from their January high.