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.
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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…