Weekly review

Equity view

BT’s Openreach division announced an extension to its ultrafast broadband rollout on Monday, with a plan to extend G. fast service to more than a million homes and businesses in a further 81 locations.

Rio Tinto struck a deal to sell its majority stake in the Rössing mine in Namibia to China's state nuclear company for up to $106.5m.

General Motors, the largest car manufacturer in the US, is planning to slash production in North America and refocus on electric cars, as it navigates falling sales and the impact of trade tariffs.

AstraZeneca said its Fasenra treatment for the autoimmune disease eosinophilic granulomatosis with polyangiitis had been granted Orphan Drug Designation by the US Food and Drug Administration.

Thomas Cook withdrew its dividend as it cut its annual profits guidance for the third time this year and said bookings for the coming winter were down 3% on last year and there had been a "mixed start" to for summer 2019.

Intertek said on Tuesday that group revenue rose 4.8% at constant exchange rates to £2.31bn and 0.5% at actual rates in the 10 months to October 31.

Ticket reseller Viagogo was ordered to "overhaul" its operations after the Competition and Markets Authority accused the outfit of violating consumer protection law back in August.

Negotiations for Uber’s takeover of Deliveroo halted as both companies cannot agree on the price of the UK food delivery app.

The Restaurant Group secured narrow shareholder approval for its takeover of Asia-inspired food chain Wagamama, despite fears of an investor backlash over the £559m deal.

Unilever was on Wednesday reported to be in pole position to guzzle up GlaxoSmithKline's Indian Horlicks business and associated nutrition brands for around $4bn.

The shine came off Tiffany & Co’s shares after the high-end jeweller said spending by Chinese tourists had fallen away.

Shares in shopping centre owner Intu Properties plunged more than 35% on Thursday after Brexit uncertainties forced a consortium led by its deputy chairman John Whittaker to pull its £2.9bn takeover offer.

Whitbread received clearance from Chinese authorities for its £3.9bn sale of the Costa coffee chain to Coca-Cola.

Equipment hire group Ashtead promoted the boss of its US business to the chief executive role as Geoff Drabble steps down after 12 years in charge.

Rio Tinto on Thursday gave the green light for its $2.6bn (£2.03bn) Koodaideri iron ore mine in Western Australia.

Deutsche Bank’s headquarters in Frankfurt was searched by prosecutors on Thursday morning in an investigation over money-laundering allegations.

Engineer Babcock on Friday said it had won a £100m 10-year contract for aerial firefighting by the government of Manitoba, Canada.

Autonomy’s co-founder Mike Lynch faces US criminal charges that include fraud and conspiracy regarding the company's takeover by Hewlett-Packard in 2011.

Tesco and Volkswagen on Friday announced that they are set to build the largest free charging network for electric vehicles in the UK.

A day after revealing that a consortium led by its deputy chairman had pulled its £2.9bn takeover offer for the shopping centre owner, Intu Properties announced a trio of property disposals for £25.3m.

Economic news

City leaders on Monday backed Theresa May’s Brexit deal due to concerns regarding the impact of a no-deal scenario, even though the divorce was calculated to leave UK citizens £1,000 poorer than remaining in the European Union.

Disney, GKN and Samsung are among the companies labeled worst offenders regarding their political lobbying policies in the UK, Transparency International reported in its latest study published on Monday.

The Food and Drink Federation said warehouses to stockpile fresh food ahead of Brexit are “almost full” and that the rest have been snapped up by Amazon.

The UK’s under-pressure high street saw a surprise pick up in sales in November – but expectations for the coming months have weakened as Brexit uncertainly continues.

The British economy will shrink over the 15 years following the UK’s departure from the European Union, regardless of what deal the country leaves under, UK government research claimed on Wednesday.

The Chancellor of the Exchequer has said that every method of leaving the European Union will leave the UK worse off – including the deal struck by Prime Minister Theresa May.

The Bank of England warned on Thursday that if Britain leaves the European Union without a deal it would result in a recession worse than the 2008 financial crisis, though in this case the UK banking system should be able to cope.

The Prime Minister then refused to speculate on what will happen if the draft Withdrawal Agreement fails to secure Parliament’s backing - but conceded a "decision would have to be taken".

House prices ticked higher in November, according to the latest survey released by Nationwide on Friday.

UK businesses warned of growing shortages of skilled workers as Brexit uncertainties causes EU migrants to move out of the country.

International events

Ukraine imposed martial law on Monday after the Russian seizure of three of its naval vessels sparked street protests on Sunday night, according to the nation’s presidential website.

German business confidence deteriorated more than expected in November, according to a widely-followed survey released on Monday.

President Donald Trump said that Theresa May’s Brexit deal was "good for the EU" and could jeopardise Britain’s ability to strike a trade agreement with the US.

China’s vice premier has told an economic conference in Germany that no country can emerge victorious from a trade war.

Russian President Vladimir Putin called on the US to abandon its policy of unilateral sanctions and to instead seek common ground.

Reports on Wednesday said that America's shortfall on trade in goods with the rest of the world widened last month as export growth slipped.

The G20 leaders' meeting kicked off in Buenos Aires against a backdrop of global trade tensions, murder, the rise of populism and disagreements over climate change and conflict in Crimea.

Leaders from the US, Canada and Mexico meeting at the summit on Friday signed a new trade agreement that will replace NAFTA.

President Trump on Thursday cancelled his G20 meeting with Russian President Vladimir Putin, citing the recent confrontation between Russian and Ukrainian vessels in the Sea of Azov.

The number of Americans filing for unemployment benefits unexpectedly rose last week, to a six-month high, according to figures from the Labor Department.