Fidelity Top Stories
China CPI picks up in May, but underlying inflation muted
Consumer level inflation in China picked up last month as pork prices increased at their fastest pace for 35-months, but underlying price pressures in fact slowed, pointing to still lacklustre demand, according to analysts.
Brussels blocks Tata-ThyssenKrupp tie up
The European Commission blocked a proposed merger between India’s Tata Steel and Germany’s ThyssenKrupp.
Investors positioning for a likely recession in Germany, Sentix says
Investor sentiment towards nearly all regions soured last month, after US-China trade tensions escalated, and could drag Germany into recession, according to the results of a widely-followed survey.
Trump threatens China with more tariffs if Xi refuses meeting at G20
US President Donald Trump threatened China with a further hike in tariffs if President Xi Jinping refused to meet with him at the upcoming G20 summit in Japan.
PBoC Governor says "tremendous" room left for more stimulus
China's central bank has "tremendous" room to provide further policy stimulus if trade tensions with Washington escalate, its Governor said at the end of the week.
Huawei must improve 'shoddy' security standards, UK cyber official says
A senior British cyber security official from the GCHQ said on Thursday that Huawei needs to raise its “shoddy” security standards as the company faces pressure from the US and its allies.
May and Hammond clash over swansong spending
Theresa May and Philip Hammond are at odds over the prime minister's wish to announce billions of pounds of extra spending before she leaves office, the Financial Times reported.
ECB's Draghi says no one talking about recession, QE restart considered
The European Central Bank pushed back on expectations for the date of its first rate hike, judging that an "ample degree" of monetary policy stimulus was still needed, given the uncertainty around geopolitics, trade protectionism and vulnerabilities in emerging markets.
Trump to decide on extra $300bn of China tariffs in two weeks
US President Donald Trump threatened China with an extra $300bn tariffs on Chinese imports on Thursday and that a decision might come in the "next two weeks", but added that he believes China wants a trade deal.
ECB says rates on hold 'at least' through first half of 2020
The European Central Bank pushed back on expectations for the first hike in official short-term interest rates, saying they would remain at their present level "at least" through the front half of 2020.
Trump needs more progress to avert Mexico tariffs, worries
Trump said on Wednesday that he needs to see more progress in talks between the US and Mexico before walking back on his threat to slap tariffs on up to 25% of all Mexican imports.
BoE governor calls for closer cross-border cooperation
The Governor of the Bank of England has called on emerging and advanced economies to work together more closely to reduce volatility in cross-border investing.
Fiat Chrysler puts brakes on €33bn Renault merger
Car maker Fiat Chrysler announced on Thursday that it was pulling its €33bn merger proposal with Renault after French government intervention in the deal.
US hiring stalls in May, ADP says
Hiring in the US hit a wall last month, according to the results of one of the most closely-followed surveys on the health of the US jobs market.
Trump says global warming is 'change in weather' and claims US is clean
Donald Trump dismissed climate change as “a change in weather” just hours after holding serious talks on the issue with Prince Charles.
US claims China playing 'blame game' in trade war
The US has accused China of playing the "blame game” by misrepresenting why trade talks between the two powers had broken down, leading Washington to go ahead and raise tariffs on Chinese exports as it had threatened to do at the end of 2018.
Fed watching trade developments, Powell says
The Federal Reserve is watching developments in the international trade area closely and will act "as appropriate" in order to sustain the economic expansion, its chairman, Jerome Powell, said.
Hargreaves Lansdown shares slide following Woodford suspension
Shares in Hargreaves Lansdown fell on Tuesday, after the blue chip financial advisor was caught up in the crisis engulfing Woodford Investment Management.
Shell projects higher-than-expected capex, might raise dividend
Royal Dutch Shell boosted its forecasts for free cash flow growth and opened the door to a hike in its dividend payout, even as it bumped-up its guidance for capital outlays by more than expected and set out the road map for the company's transition to a lower-carbon future.
Reserve Bank of Australia cuts rates, some analysts critical
Rate-setters Down Under cut short-term official interest rates on Tuesday, arguing that it will support the labour market and cement inflation's rising path back towards target, with recent inflation outcomes having been "lower than expected".