17 December – 21 December

17 December

Sentiment among leading investors is souring rapidly as they become more convinced that the global economy is likely to deteriorate over the coming year, according to new research on asset managers.

Jack in the Box, the burger chain best know for its two-for-99 cents taco deal, is exploring strategic alternatives, including a possible sale of the company, less than a month after reporting a slump in full-year sales and earnings.

Boeing and Embraer said they have approved the terms of a joint venture that will give the US aircraft maker 80 per cent control over the Brazilian company’s commercial aircraft and services operations for $4.2bn.

US credit markets are grinding to a halt with fund managers refusing to bankroll buyouts and investors shunning high-yield bond sales as rising interest rates and market volatility weigh on sentiment.

18 December

A slump in Turkey’s industrial production gathered pace in October, prompting warnings that the country is headed for a recession as it grapples with the fallout from a currency meltdown.

Turkey’s retailers suffered their worst fall in sales on record, according to dismal data released on Tuesday that lay bare the pain felt by the country’s shopkeepers as a result of the currency crisis and a wider economic slowdown.

Fishing enthusiasts fell hook, line and sinker for specialist retailer Angling Direct’s Black Friday deals, which helped send sales up almost a third in a period marked by high street malaise.

Growing concerns over the health of the global economy pushed US stocks sharply lower for the second day in a row as participants awaited the outcome of a two-day meeting of the Federal Reserve’s policy-setting Open Market Committee.

19 December

Britain’s inflation rate dropped to a 20-month low in November as falling oil prices helped provide a further boost to living standards, according to data from the Office for National Statistics.

German electronics retailer Ceconomy on Wednesday issued a reminder that recent retail woes have not been confined to the UK high street, reporting significantly weaker than expected performance in its domestic market and a downbeat outlook for the new year.

Japan’s biggest initial public offering made a dismal trading debut with shares in SoftBank’s mobile phone business sliding 15 per cent, wiping $9bn off the company’s IPO price market capitalisation.

Newly issued shares in SoftBank’s mobile phone business made a disappointing debut on Wednesday, with shares in Japan’s biggest ever IPO plunging by more than 10 per cent in the first few minutes after the market open.

20 December

The Federal Reserve lowered its expectations for US economic growth on Wednesday amid signs of a global slowdown and volatility in financial markets.

Aluminium prices fell to their lowest level in 16 months on Thursday after the US said it would lift sanctions on Russian producer Rusal, which could see metal produced by the company enter a market already suffering from a slowdown in global economic growth.

Danish headphone and speaker maker Bang & Olufsen lost more than a quarter of its value on Thursday after it cut its sales outlook for the year, blaming a string of logistical problems.

21 December

The Canadian economy grew at a faster rate than expected at the start of the fourth quarter as manufacturing activity picked up.

Britain’s car factories suffered their worst November in a decade last month, with a 20 per cent fall in output underscoring fears that the sector has started to contract before the UK’s departure from the EU.

Nike’s efforts to sell more products directly to consumers and cut out the middleman appears to be paying off.

Shares in Natixis had their steepest one-day drop since the Brexit vote after the French investment bank disclosed that turbulent markets had left it nursing a multimillion euro hit linked to Asian equity derivatives.