The recent strength of the German economy shows little sign of stopping, but the shine is beginning to fade a little, with businesses reporting slower than expected growth in July in a series of closely-watched surveys.
Political upheaval in Poland finally started to weigh on the country’s financial markets at the end of last week, and there was no sign of a rebound on Monday after nationwide protests extended over the weekend.
A key business survey of the French economy has revealed a slowdown in activity in the eurozone’s second largest economy, which has been reaping the rewards of an uptick in the continent’s recovery this year.
Reckitt Benckiser, the consumer goods group, has already pulled off the corporate coup of the year – making this morning’s half-year results seem rather bland. Last week, it sold its food business to McCormick of the US for £3.2bn – some 50 per cent more than expected.
SThree, the UK recruitment agency, reported an uptick in profits and revenues in the first half of 2017, boosted by its international diversification as Brexit and public sector reforms continued to knock activity in its UK and Ireland division.
FTSE 250 diamond miner Petra Diamonds missed its production and revenue targets in the year to June 30, but said it is now on track to see a big ramp-up in output next year after the delayed completion of a series of investment projects.
Consumer goods giant Reckitt Benckiser reported a rise in profits in its second quarter, but confirmed it was lowering its full-year revenue guidance as it adjusted to a “challenging” trading environment exacerbated by a cyber attack last month.
Julius Baer managed SFr10.2bn in net new money in the first half of the year, exceeding its growth target, as the Swiss private bank expanded aggressively its businesses managing the wealth of the world’s rich.
Stronger growth in Europe, Japan and China is expected to offset slower-than-expected US output on uncertainty over Donald Trump’s stalled fiscal promises, according to the International Monetary Fund.
Grab, the Southeast Asian ride-hailing company, has raised $2.5bn from investors including Didi Chuxing, its Chinese peer, and Japan’s SoftBank in the biggest ever investment in a technology startup in Southeast Asia.