The week at a glance: 16 August – political pressures
The weather might not agree, but summer is definitely in the air in the eerily quiet city. Burford is still dominating the business headlines in the UK, while media mega-mergers have grabbed the front pages in the US. Both countries have been surprisingly quiet on the political front, while turmoil elsewhere is shaking international markets.
The Investor’s Champion is taking its summer holiday next week. We’ll be back to bringing you top investment analysis after the bank holiday.
A far quieter week on the results front in both the US and UK has given more space for political influence in the markets.
Argentina’s currency and stock market fell sharply on Monday and Tuesday following current president Mauricio Macri’s loss in a primary presidential vote. Investors are concerned about a return to populist policies in a country that has defaulted on its debt more than almost any other.
While protests continue in Hong Kong, airline group Cathay Pacific has found itself an unwanted pin-up for the ongoing turmoil. Last week, Cathay – an icon of Hong Kong – told its staff it would not stop them joining the pro-democracy demonstrations, including those that have impacted the region’s major airport. But this week, faced with pressure from the Chinese government and a huge backlash on Chinese social media, it quickly changed its position, warning that any staff involved would be fired. Subsequent protests in the airport forced the airline to cancel…
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