2017 Economy & Business Events — Verified Historical Highlights

2017 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to

03 Jan Ford cancels Mexico plant, invests in Michigan: On January 3, 2017, Ford Motor Company announced it would cancel plans for a new plant in Mexico and instead invest $700 million in a Michigan facility. This decision was influenced by Trump's policies on manufacturing. source: nytimes.com
05 Jan Mexican gas price riots: On January 5, 2017, widespread protests erupted in Mexico against rising gas prices, leading to riots and clashes with police. The government faced backlash over its economic policies. source: bbc.com
06 Jan The Limited Closes Physical Stores: The Limited retail chain announced the closure of all its brick-and-mortar stores, transitioning to an online-only business model effective January 8, 2017.
10 Jan Chinese President's Historic Davos Appearance: On January 17, 2017, Chinese President Xi Jinping made a historic appearance at the World Economic Forum in Davos, Switzerland. He was the first Chinese head of state to attend the forum, where he advocated for free trade and globalization, positioning China as a champion of open markets amid rising protectionism. source: reuters.com
11 Jan Controversial Underwater Resort Project: Viacom International Media Networks proposed building a Nickelodeon-themed underwater resort and amusement park in Coron, Palawan, Philippines, claiming the project would promote marine resource conservation, though environmentalists raised concerns.
13 Jan US House moves to repeal Obamacare: On January 13, 2017, the U.S. House of Representatives voted to begin the process of repealing the Affordable Care Act, commonly known as Obamacare. This move marked the first step in fulfilling a key campaign promise by President-elect Donald Trump and congressional Republicans to dismantle the healthcare law. source: cnbc.com
16 Jan Luxottica and Essilor Mega-Merger: On January 16, 2017, Italian eyewear manufacturer Luxottica and French ophthalmic optics company Essilor announced a merger to create a global leader in the eyewear industry. The deal was valued at approximately €24 billion and aimed to combine Luxottica's brand portfolio with Essilor's lens technology, enhancing their presence in emerging markets. source: reuters.com
19 Jan Uber Settles FTC Lawsuit: Ride-sharing giant Uber agreed to pay $20 million to the U.S. Federal Trade Commission to settle allegations of misleading driver recruitment practices, including exaggerating potential earnings and underestimating vehicle leasing costs.
23 Jan Federal Judge Blocks Aetna-Humana Merger: United States federal judge John D. Bates of the District of Columbia District Court blocked a proposed merger between health insurance companies Aetna and Humana, preventing a significant consolidation in the healthcare industry.
24 Jan President Trump approves major pipeline projects: On January 24, 2017, President Donald Trump signed executive actions approving the construction of the Keystone XL and Dakota Access pipelines. These projects had been previously halted due to environmental and legal challenges but were revived under the new administration. source: bbc.com
25 Jan Dow Jones Industrial Average Breaks 20,000: In a significant milestone for the financial markets, the Dow Jones Industrial Average crossed the historic 20,000-point threshold for the first time, signaling strong investor confidence and economic performance.
26 Jan Venezuela's Oil Export Crisis: Venezuela's state-owned oil company faces severe economic challenges, with over four million barrels of oil unable to be delivered due to inability to pay for essential maritime inspections and hull cleaning.
27 Jan Wet Seal Retail Closure: After filing for bankruptcy in 2015, clothing retailer Wet Seal announces the closure of all 148 brick-and-mortar stores, reflecting challenges in the traditional retail sector.
31 Jan PwC Warns of Hard Brexit Impact on Global Banks: Consultancy PwC advises global banks with business in London or Europe to prepare for a hard Brexit, which would result in losing Euro system benefits and experiencing a brief transition period.
01 Feb EU Mobile Roaming Regulations Breakthrough: European Union negotiators reached a preliminary agreement to cap mobile phone intercarrier tariffs, paving the way for the elimination of roaming charges for voice and data calls for EU consumers starting June 15, 2017.
03 Feb Peru Offers Temporary Visa to Venezuelans: Peruvian President Pedro Pablo Kuczynski's government introduced a temporary visa program for thousands of Venezuelans experiencing economic crisis. The one-year visa will allow recipients to work, study, and access health services in Peru, reflecting a humanitarian approach to migration.
04 Feb Trump Begins Dodd-Frank Rollback: President Trump signed an executive order initiating the process of rolling back the Dodd-Frank financial regulations, a significant move in financial policy reform.
09 Feb Power Outage in Brussels: Brussels, the capital of Belgium, experienced a citywide power outage, causing significant disruption.
10 Feb Reckitt Benckiser Acquires Mead Johnson: British consumer goods company Reckitt Benckiser agrees to purchase U.S. baby formula manufacturer Mead Johnson Nutrition in a $16.6 billion deal, expanding its global portfolio.
14 Feb Cigna terminates merger agreement with Anthem: On February 14, 2017, Cigna announced the termination of its $54 billion merger agreement with Anthem, following a federal judge's decision to block the deal on antitrust grounds. Cigna filed a lawsuit seeking a $1.85 billion termination fee and additional damages exceeding $13 billion. source: cnbc.com
17 Feb Unilever rejects Kraft Heinz acquisition offer: On February 17, 2017, Unilever announced its decision to reject a $143 billion acquisition offer from Kraft Heinz, citing concerns over the strategic rationale and value creation for Unilever's shareholders. source: reuters.com
18 Feb China suspends North Korean coal imports: On February 18, 2017, China announced a suspension of coal imports from North Korea, a significant move aimed at enforcing UN sanctions. This decision was part of China's efforts to curb North Korea's nuclear ambitions and was expected to impact the North Korean economy significantly. source: reuters.com
19 Feb Kraft Heinz Withdraws Unilever Acquisition Offer: Kraft Heinz terminated its proposed US$143 billion acquisition bid for Unilever after the latter declined the offer the previous Friday.
20 Feb Amazon Expands European Workforce: Amazon.com announced plans to create 15,000 full-time jobs in Europe by 2017, representing a significant 30% increase in its European workforce.
21 Feb Verizon reduces Yahoo acquisition price by $350 million: On February 21, 2017, Verizon Communications announced a reduction of $350 million in its acquisition price for Yahoo's core internet business, lowering it to $4.48 billion. This adjustment followed the disclosure of two significant data breaches affecting over 1 billion Yahoo user accounts, leading to shared legal and regulatory liabilities between the companies. source: cnbc.com
23 Feb Dakota Access Pipeline Protests Conclude: Protesters were expelled from the Dakota Access Pipeline area, clearing the way for the controversial oil pipeline's construction through the United States.
24 Feb JC Penney Announces Significant Store Closures: Retail chain JC Penney announced plans to close 130-140 stores and two distribution centers due to declining sales, reflecting the challenging retail landscape and shifting consumer behaviors.
28 Feb US President Trump proposes $54 billion increase in military spending: On February 28, 2017, President Donald Trump announced a proposal for a $54 billion increase in military spending, aiming to rebuild the U.S. military. This proposal was to be offset by cuts to other federal agencies, including the State Department and foreign aid programs. source: abc.net.au
01 Mar Dow Jones Industrial Average reaches historic high: On March 1, 2017, the Dow Jones Industrial Average reached a historic high, reflecting investor optimism following President Trump's proposal for increased military spending and anticipated economic policies. source: pbs.org
08 Mar RadioShack Files for Bankruptcy: RadioShack, once a prominent electronics retailer, filed for Chapter 11 bankruptcy protection for the second consecutive year, symbolizing the decline of traditional electronics retail in the face of online competition.
19 Mar White House Announces Tax Reform Timeline: White House Press Secretary Sean Spicer indicated that tax reform was expected to be introduced in late spring to summer of 2017.
24 Mar Trump Approves Keystone XL Pipeline: U.S. President Donald Trump approved the controversial Keystone XL Pipeline project, a decision with significant environmental and economic implications.
25 Mar International Trade Adjustment: China, Chile, and Egypt simultaneously lift import bans on Brazilian products, signaling a potential improvement in international trade relations.
26 Mar Chile Pension System Protests: On March 26, 2017, protests erupted in Chile against the country's pension system, which many citizens criticized as inadequate. The demonstrations highlighted ongoing social issues and demands for reform in the country's economic policies. source: bbc.com
29 Mar European Commission blocks London Stock Exchange-Deutsche Börse merger: On March 29, 2017, the European Commission blocked the proposed merger between the London Stock Exchange and Deutsche Börse. The Commission cited concerns that the merger would reduce competition and harm European investors. This decision marked a significant intervention in the consolidation of financial markets in Europe. source: bbc.com
01 Apr South Korean Cargo Ship Disappearance: The South Korean cargo freighter Stellar Daisy was reported missing off the coast of Uruguay, with authorities unable to establish contact. The incident raised significant maritime safety concerns and prompted search and rescue operations.
02 Apr India opens major infrastructure project: On April 2, 2017, India inaugurated a significant infrastructure project aimed at improving transportation and connectivity in the region. This initiative is part of the government's broader strategy to enhance economic growth and development through improved infrastructure. source: hindustantimes.com
07 Apr Hyundai and Kia Vehicle Recall: Hyundai and Kia initiated a massive vehicle recall of 1.5 million cars, including Sonata and Santa Fe models, due to a significant engine defect. The recall affected over 1.3 million vehicles in the United States and 170,000 in South Korea.
10 Apr Ski Resort Business Acquisition: Aspen Skiing Company, KSL Capital Partners, and Intrawest completed a significant business transaction, acquiring Intrawest for $1.5 million, signaling consolidation in the ski resort industry.
12 Apr Trump comments impact U.S. dollar: On April 12, 2017, President Donald Trump made comments regarding the U.S. dollar's strength, which led to fluctuations in the currency's value. Analysts noted that his remarks could influence market perceptions and trading strategies. source: reuters.com
17 Apr Williams Partners Sells Louisiana Oil Refinery to Nova Chemicals: American pipeline operator Williams Partners agreed to sell an oil refinery in Louisiana to Nova Chemicals, a Canadian chemical company, for $2.1 billion, marking a significant transaction in the energy sector.
18 Apr Trump's Executive Order on Workers and Visas: President Donald Trump signed an executive order directing federal agencies to protect U.S. workers, increase product protections, and examine the H-1B Visa program for foreign workers in specialty areas.
19 Apr Emirates Air Reduces U.S. Flights: Emirates Air announces a reduction in flights to five of its twelve U.S. destinations, citing decreased demand. This decision is linked to the impact of President Trump's travel ban and restrictions on electronic devices in passenger compartments.
20 Apr General Motors Ceases Production in Venezuela: General Motors halted production in Venezuela following government seizure of its facilities, reflecting the ongoing economic and political crisis in the country.
21 Apr Sports Direct Acquires US Retail Chains: Sports Direct, a prominent British sports retailer, strategically acquired the American retail chains Bob's Stores and Eastern Mountain Sports through a bankruptcy purchase, expanding its international retail footprint.
22 Apr Saudi Arabia Restores Civil Servant Allowances: Saudi Arabia's King Salman issued royal decrees restoring financial allowances to civil servants that were previously cut seven months earlier due to declining oil prices.
25 Apr India Introduces Biometric Tracking for Cattle: India announced plans to provide biometric dog tags for every cow to combat cattle smuggling, demonstrating an innovative approach to agricultural and economic regulation.
27 Apr Trump softens stance on NAFTA: On April 27, 2017, President Trump indicated a willingness to renegotiate NAFTA rather than withdraw from the agreement entirely. This marked a shift in his administration's approach to trade relations with Canada and Mexico. source: reuters.com
28 Apr Brazil general strike: On April 28, 2017, Brazil experienced a nationwide general strike against labor reforms proposed by the government. The strike involved various sectors and highlighted widespread discontent with economic policies. source: reuters.com
30 Apr U.S. Congressional Budget Agreement: U.S. Congressional negotiators reached a bipartisan agreement on the FY 2017 federal budget, which would fund the entire fiscal calendar through September 30, 2017. The current spending authorization was set to expire on May 5th.
03 May Puerto Rico files for bankruptcy protection: On May 3, 2017, Puerto Rico filed for bankruptcy protection under Title III of the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA). This filing was a response to the island's $70 billion debt crisis, marking the largest municipal bankruptcy in U.S. history. source: cnbc.com
08 May Spirit Airlines Flight Disruptions: Spirit Airlines experienced significant operational disruptions at Fort Lauderdale-Hollywood International Airport, canceling 11 flights and delaying 30 others due to an ongoing dispute with the Air Line Pilots Association International. The tensions escalated with three individuals being taken into custody during protests.
10 May Apple Reaches $800 Billion Market Value: Apple became the first company in history to achieve a market capitalization exceeding $800 billion, highlighting the company's extraordinary growth and technological influence.
11 May Arctic Council Discusses Oil Drilling: The Arctic Council, a grouping of eight countries bordering the Arctic Circle, convenes in Alaska to discuss potential oil drilling activities in the region, highlighting ongoing environmental and economic considerations.
14 May China's Belt and Road Initiative Summit: The Chinese government hosted a two-day summit in Beijing aimed at garnering international support for its ambitious Belt and Road Initiative, a massive infrastructure and economic development strategy spanning multiple continents.
15 May Western Digital vs Toshiba Memory Dispute: Western Digital files an arbitration appeal to prevent Toshiba Memory, its chip-making partner, from selling the memory business.
16 May UK Inflation Reaches Four-Year High: According to the United Kingdom's Office for National Statistics, consumer prices rose by 2.7% annually in April, marking the highest inflation rate in nearly four years.
19 May Goldman Sachs Banker Withdraws from Treasury Nomination: Jim Donovan, a Goldman Sachs banker, withdrew his consideration for Deputy Treasury Secretary, citing a desire to spend more time with his family.
24 May Moody's downgrades China's credit rating: Moody's Investors Service downgraded China's credit rating for the first time in nearly three decades, citing rising debt levels and economic challenges. This decision raised concerns about China's economic stability and its impact on global markets. source: reuters.com
27 May British Airways IT Failure: British Airways experiences a major IT system breakdown, causing widespread flight cancellations at Heathrow and Gatwick airports and disrupting global flight operations.
29 May Japan Tobacco Expands Smokeless Tobacco Production: Japan Tobacco announced plans to quadruple its smokeless tobacco production by the following year, indicating a significant strategic shift in the tobacco industry's product development and market approach.
31 May Kenya's Major Railway Infrastructure Project: The Mombasa-Nairobi Standard Gauge Railway was officially opened, representing the largest infrastructure project in East Africa since the country's independence. This significant transportation development marks a milestone in Kenya's economic development.
08 Jun House Passes Dodd-Frank Regulation Bill: The United States House of Representatives passed a bill to end Dodd-Frank financial regulations. The bill was expected to face challenges in the Senate, potentially signaling significant changes in financial oversight.
11 Jun Qatar Diplomatic Crisis - Iranian Food Aid: During the 2017 Qatar diplomatic crisis, Iran sent five 90-tonne air cargo payloads containing perishable food to Qatar, demonstrating support amid regional tensions. Additional air and sea shipments were planned.
14 Jun Federal Reserve interest rate increase: On June 14, 2017, the Federal Reserve raised its benchmark interest rate by 0.25 percentage points, marking the second increase of the year. This decision was made in response to a strengthening economy and low unemployment rates, signaling confidence in economic growth. source: federalreserve.gov
15 Jun EU eliminates mobile roaming charges: On June 15, 2017, the European Union abolished mobile roaming charges, allowing consumers to use their mobile phones across EU member states without incurring additional fees. This regulation aimed to create a single digital market and enhance consumer rights. source: bbc.com
16 Jun Amazon acquires Whole Foods: On June 16, 2017, Amazon announced its acquisition of Whole Foods Market for $13.7 billion. This move marked Amazon's entry into the brick-and-mortar grocery business, aiming to expand its presence in the food retail sector. source: nytimes.com
28 Jun China cuts oil supply to North Korea: On June 28, 2017, reports indicated that China had reduced oil supplies to North Korea amid rising tensions over its nuclear program. This move was seen as part of international efforts to pressure North Korea to abandon its weapons development. source: reuters.com
03 Jul Major Investment in South Pars Gas Field: Total, CNPC, and NIOC have agreed to a substantial $5 billion investment in South Pars, the world's largest natural gas field, signaling significant international energy cooperation.
05 Jul Chinese state company orders Airbus aircraft: On July 5, 2017, a Chinese state-owned company placed a substantial order for Airbus aircraft, marking a significant deal in the aviation industry. This order reflects ongoing collaboration between China and European manufacturers. source: reuters.com
07 Jul Berkshire Hathaway and Oncor Electric acquisition: On July 7, 2017, Berkshire Hathaway announced its acquisition of Oncor Electric, a major Texas utility company. This deal was valued at approximately $9 billion and aimed to enhance Berkshire's energy portfolio. source: reuters.com
08 Jul Northridge Power Station Explosion: A massive explosion at the Northridge power station triggered widespread power outages across the San Fernando Valley and Los Angeles, disrupting critical infrastructure and daily life for thousands of residents.
13 Jul Congressional Budget Office Federal Budget Projection: The Congressional Budget Office released a controversial budget projection, estimating a $720 billion deficit over ten years, contradicting the Trump administration's claims of a potential surplus. This projection raised significant concerns about long-term fiscal sustainability.
17 Jul U.S. Outlines NAFTA Renegotiation Priorities: On July 17, 2017, the United States Trade Representative outlined the U.S. government's priorities for renegotiating the North American Free Trade Agreement (NAFTA), focusing on issues such as trade deficits, manufacturing jobs, and intellectual property rights. source: reuters.com
22 Jul Bank of America Selects Dublin as European Hub: In a strategic move following Brexit, Bank of America chose Dublin as its primary European headquarters, reflecting the shifting financial landscape in Europe.
24 Jul KeyCorp Acquires HelloWallet: Financial services company KeyCorp completes the purchase of HelloWallet, a financial management application, signaling continued consolidation in the fintech sector.
25 Jul Michael Kors Acquires Jimmy Choo: Michael Kors completed the acquisition of luxury shoe brand Jimmy Choo Ltd for US$1.2 Billion, a significant move in the fashion and luxury accessories market.
27 Jul France Nationalizes Chantiers de l'Atlantique Shipyard: The French government nationalized the STX Europe-owned Chantiers de l'Atlantique shipyard in Saint-Nazaire to prevent Italian firm Fincantieri from acquiring majority control. This strategic move sparked diplomatic tension, with Italian Minister of Economy Pier Carlo Padoan criticizing the decision as 'grave' and 'incomprehensible'.
31 Jul Discovery Communications Acquires Scripps Networks Interactive: Discovery Communications announced a major media industry acquisition of Scripps Networks Interactive for US$14.6 billion, representing a significant consolidation in the entertainment and lifestyle media sector.
04 Aug Martin Shkreli convicted of securities fraud: On August 4, 2017, Martin Shkreli, former CEO of Turing Pharmaceuticals, was convicted on three counts related to securities fraud. The charges were unrelated to his controversial price hike of the drug Daraprim. Shkreli was found guilty of deceiving investors about the performance of his hedge funds and using assets from his pharmaceutical company, Retrophin, to settle debts with investors. source: cnbc.com
07 Aug PenAir Declares Bankruptcy: Regional air carrier PenAir filed for Chapter 11 bankruptcy, ceasing service to Denver, Colorado and Portland, Oregon. This highlights ongoing challenges in the regional airline industry and economic pressures facing smaller carriers.
08 Aug Disney Streaming Service Announcement: The Walt Disney Company announced plans to create its own streaming service, simultaneously ending its partnership with Netflix and signaling a major shift in the digital entertainment landscape.
10 Aug DineEquity to Close 160 Restaurants: DineEquity announced plans to close 160 Applebee's and IHOP restaurants, signaling significant restructuring in the casual dining restaurant industry.
15 Aug Corporate Leaders Resign from Manufacturing Council: On August 15, 2017, several corporate leaders resigned from President Trump's Manufacturing Council in protest of his response to the Charlottesville violence. The resignations included CEOs from Merck, Under Armour, and Intel, who cited the administration's failure to unequivocally condemn white supremacist groups as their reason for leaving. source: nytimes.com
16 Aug Corporate Leaders Protest Trump's Charlottesville Response: On August 16, 2017, several corporate leaders publicly criticized President Trump's response to the Charlottesville violence, emphasizing the need for clear condemnation of hate groups. Their statements highlighted the growing tension between the business community and the administration over issues of race and public safety. source: nytimes.com
20 Aug Fatal Shipyard Explosion in South Korea: A catastrophic explosion at a shipyard owned by STX Offshore & Shipbuilding resulted in the tragic death of four workers. The incident highlighted ongoing industrial safety concerns in the maritime sector.
24 Aug Record-Breaking Lottery Jackpot Win: Mavis Wanczyk of Massachusetts won an unprecedented $758.7 million in the U.S. Powerball Jackpot, setting a new record for the largest individual lottery prize in American history.
29 Aug Berkshire Hathaway Increases Bank of America Stake: Warren Buffett's Berkshire Hathaway became the largest Bank of America shareholder by exercising warrants to purchase 700 million shares at $7.14 per share, more than tripling its previous investment and demonstrating confidence in the bank's future.
31 Aug Wells Fargo account fraud scandal escalates: On August 31, 2017, the Wells Fargo account fraud scandal continued to escalate as new allegations emerged regarding the bank's practices. The scandal involved the creation of millions of unauthorized accounts, leading to significant legal and financial repercussions for the bank. source: reuters.com
04 Sep United Technologies Acquires Rockwell Collins: United Technologies Corp announced the purchase of Rockwell Collins, an American aerospace parts manufacturer, for $30 billion. The deal includes $7 billion of existing Rockwell Collins debt.
06 Sep U.S. Federal Reserve Vice Chairman Resigns: Stanley Fischer, Vice Chair of the U.S. Federal Reserve, announced his resignation effective October 2017, eight months before his term's scheduled conclusion. This unexpected departure signals potential shifts in the Federal Reserve's leadership and monetary policy direction.
07 Sep Amazon's Second Headquarters Bid: Amazon.com announces ambitious plans to establish a second headquarters in North America, promising to create 50,000 jobs and invest $5 billion USD in the new campus, signaling significant economic expansion.
08 Sep Senate Approves Hurricane Harvey Aid Package: On September 8, 2017, the U.S. Senate approved a $15.25 billion aid package to assist in the recovery efforts following Hurricane Harvey. The package included funds for disaster relief, housing assistance, and infrastructure repairs in the affected areas of Texas and Louisiana. source: nytimes.com
14 Sep Japan to Support Indian Bullet Train Project: Japan committed to assisting India in constructing a bullet train, marking a significant collaboration in transportation infrastructure and technological development between the two nations.
16 Sep Ryanair Flight Cancellations: Ryanair, an Irish low-cost airline, cancels 82 Sunday flights to Ireland as part of a six-week-long program to eliminate 40 to 50 flights per day to clear its crew vacation backlog. This is to comply with the requirements of the Irish Aviation Authority.
18 Sep Toys 'R' Us files for bankruptcy: On September 18, 2017, Toys 'R' Us filed for bankruptcy protection, citing heavy debt and competition from online retailers. The move marked a significant moment in the retail industry. source: nytimes.com
20 Sep U.S. Federal Reserve interest rate announcement: On September 20, 2017, the U.S. Federal Reserve announced its decision to maintain interest rates, signaling confidence in the economy while addressing ongoing inflation concerns. This decision was part of the Fed's broader monetary policy strategy. source: federalreserve.gov
21 Sep S&P Downgrades China's Credit Rating: Standard & Poor's downgraded China's credit rating due to growing concerns about the country's rapidly increasing debt levels, signaling potential economic challenges for the world's second-largest economy.
22 Sep Uber Loses London Operating License: Transport for London announced it would not renew Uber's private hire license, effectively banning the ride-sharing service from operating in the city. This decision marked a significant regulatory challenge for the global tech company.
24 Sep Dubai Promotes Electric Vehicle Adoption: Dubai officials announced attractive incentives for residents to transition from petrol-powered to electric vehicles. These incentives include a free Salik tag and exemptions from RTA registration and renewal fees, demonstrating the city's commitment to sustainable transportation.
26 Sep Lesedi La Rona Diamond Sale: The world's second-largest gem-quality diamond, 'Lesedi La Rona', was sold for $53 million, highlighting the high-value luxury market for rare gemstones.
01 Oct Monarch Airlines Bankruptcy: The United Kingdom's national airline, Monarch Airlines, went into bankruptcy administration. This resulted in the suspension of all flights, cancellation of 300,000 bookings, and left tens of thousands of passengers stranded.
05 Oct TransCanada Abandons Pipeline Projects: TransCanada, a major Canadian energy infrastructure company, made the strategic decision to discontinue two pipeline development projects, signaling potential shifts in energy infrastructure planning.
09 Oct Kobe Steel Data Falsification Scandal: Kobe Steel, a major Japanese manufacturer, admitted to falsifying data on products supplied to various industries, including automotive and aerospace, raising concerns about product safety and quality. source: nytimes.com
10 Oct Honeywell Corporate Restructuring: Honeywell, a major multinational conglomerate, announces strategic plans to spin off its Homes, ADI Global Distribution, and Transportation Systems businesses into two separate publicly traded companies by 2018.
13 Oct UK Financial Regulator's Saudi Aramco Discussions: Andrew Bailey, head of the UK's Financial Conduct Authority, faced criticism after meeting with Saudi Aramco to discuss a potential £1.5 trillion London Stock Exchange listing, with concerns raised about modifying listing rules for sovereign-owned businesses.
17 Oct George Soros Makes Massive Philanthropic Donation: Philanthropist George Soros announced a substantial donation of $18 billion to his Open Society Foundations, reinforcing his commitment to global social and political reform.
02 Nov Jerome Powell Nominated as Federal Reserve Chair: President Donald Trump nominated Jerome Powell to become the next Chair of the Federal Reserve, a critical appointment that would shape U.S. monetary policy and economic direction.
05 Nov Paradise Papers Leak: On November 5, 2017, over 13 million confidential documents, known as the Paradise Papers, were leaked, revealing offshore financial activities of numerous individuals and corporations, including U.S. Commerce Secretary Wilbur Ross and Queen Elizabeth II. source: en.wikipedia.org
08 Nov DOJ Demands Asset Sales for AT&T-Time Warner Merger: The U.S. Department of Justice antitrust division required AT&T to sell DirecTV and Turner Broadcasting System (CNN's parent company) to proceed with its Time Warner acquisition, highlighting significant regulatory scrutiny.
11 Nov Alibaba's record-breaking Singles' Day sales: On November 11, 2017, Alibaba reported record-breaking sales during its Singles' Day shopping event, surpassing $25 billion in sales within 24 hours. This event highlighted the growing influence of e-commerce in China. source: reuters.com
12 Nov Boeing and Emirates announce massive aircraft deal: On November 12, 2017, Boeing and Emirates announced a significant agreement for the purchase of 40 Boeing 787-10 Dreamliner aircraft, valued at approximately $15.1 billion. This deal marked one of the largest in the aviation industry and was seen as a major boost for Boeing's 787 program. The aircraft were intended to be used for Emirates' expanding long-haul network. source: reuters.com
20 Nov AT&T-Time Warner merger lawsuit: The U.S. Department of Justice filed a lawsuit to block the merger between AT&T and Time Warner, citing concerns over reduced competition in the media industry. source: reuters.com
24 Nov Trump Appoints Mick Mulvaney to CFPB: President Donald Trump named Mick Mulvaney, previously the Office of Management and Budget director, as the acting director of the Consumer Financial Protection Bureau (CFPB), replacing Richard Cordray.
28 Nov Tax Cuts and Jobs Act advancement: On November 28, 2017, the U.S. Senate advanced the Tax Cuts and Jobs Act, a significant piece of legislation aimed at overhauling the tax code. The bill was part of a broader Republican effort to implement tax reform. source: reuters.com
30 Nov Bank of Korea Raises Interest Rates: The Bank of Korea increased its base interest rate by 0.25 percentage points to 1.50%, the first such increase in six years, signaling confidence in the country's economic recovery.
01 Dec Bitcoin futures trading approved by U.S. regulators: On December 1, 2017, the U.S. Commodity Futures Trading Commission approved the first Bitcoin futures trading, marking a significant milestone for cryptocurrency. This approval was seen as a step towards mainstream acceptance of digital currencies. source: bbc.com
02 Dec U.S. Senate passes Tax Cuts and Jobs Act: On December 2, 2017, the U.S. Senate passed the Tax Cuts and Jobs Act (H.R. 1) by a 51–49 vote. The legislation aimed to overhaul the U.S. tax code, including provisions such as reducing corporate tax rates, nearly doubling the standard deduction, and eliminating the individual mandate penalty of the Affordable Care Act. The bill was a significant legislative effort by the Republican majority in Congress. source: finance.senate.gov
03 Dec Venezuela creates Petro cryptocurrency: On December 3, 2017, Venezuela announced the creation of its own cryptocurrency, the Petro, backed by the country's oil reserves. The government claimed that the Petro would help circumvent U.S. sanctions and stabilize the national economy. The move was met with skepticism by international observers and raised concerns about its legality and potential impact on the global financial system. source: bbc.com
04 Dec Apple and Ireland Tax Agreement: Apple Inc. and Ireland reached an interim agreement to deposit €13 billion in an escrow fund for potential back taxes, following a European Commission ruling about alleged unfair corporate tax advantages.
07 Dec Global E-Commerce Negotiations: Fifteen countries requested the World Trade Organization to establish binding rules for e-commerce, following India's rejection of initial negotiations, highlighting the evolving landscape of international digital trade.
08 Dec Japan-EU Trade Agreement: Japan and the European Union announced a significant trade deal, marking a milestone in international economic cooperation.
11 Dec UK-Qatar Eurofighter Typhoon Deal: The United Kingdom announced an £6 billion ($8 billion) agreement to sell 24 Eurofighter Typhoon jets to Qatar, representing a significant defense export and strategic partnership between the two nations.
12 Dec Westfield Corporation Acquisition: French property company Unibail-Rodamco acquires Australian shopping mall firm Westfield Corporation in a major $15.7 billion international business transaction.
14 Dec Disney acquires 21st Century Fox: On December 14, 2017, The Walt Disney Company announced its acquisition of 21st Century Fox for $71.3 billion. This deal was seen as a major consolidation in the media industry, expanding Disney's portfolio of content and franchises significantly. source: nytimes.com
15 Dec Bitcoin reaches $20,000 milestone: On December 15, 2017, Bitcoin surged to a record high of $20,000, marking a significant milestone in the cryptocurrency's history. This surge was driven by increased interest from investors and media coverage, highlighting the growing acceptance of digital currencies. source: bbc.com
16 Dec UK-China infrastructure investment initiative: On December 16, 2017, the UK and China announced a new infrastructure investment initiative aimed at enhancing economic cooperation. This initiative is part of broader efforts to strengthen bilateral ties and promote investment opportunities. source: bbc.com
17 Dec Bitcoin Reaches All-Time High: Bitcoin reached an unprecedented all-time high of $19,783.06 USD per BTC, marking a significant milestone in the cryptocurrency's volatile market history.
19 Dec Philippines Tax Reform Act signed into law: The Philippines Tax Reform Act, aimed at increasing government revenue and improving tax compliance, was signed into law by President Rodrigo Duterte. This legislation is part of a broader tax reform program intended to fund infrastructure and social services in the country. source: reuters.com
20 Dec United States passes Tax Cuts and Jobs Act: On December 20, 2017, the United States Congress passed the Tax Cuts and Jobs Act, a significant overhaul of the U.S. tax code. The legislation aimed to reduce tax rates for individuals and corporations and was signed into law by President Donald Trump.
21 Dec Papa John's CEO Resignation: John Schnatter, founder of Papa John's Pizza, announced his resignation as CEO effective January 1, 2018. The decision came two months after controversial comments criticizing NFL player protests during the national anthem. COO Steve Ritchie was set to succeed him, marking a significant leadership transition for the company.
22 Dec US Tax Reform Signed into Law: On December 22, 2017, U.S. President Donald Trump signed the Tax Cuts and Jobs Act into law. This comprehensive tax reform package included significant tax cuts for individuals and corporations, aiming to stimulate economic growth and job creation. source: cnbc.com
24 Dec Tunisia Suspends Emirates Airlines Flights: The Tunisian Transport Ministry suspended Emirates Airlines flights from Tunis, indicating potential diplomatic or operational tensions between Tunisia and the UAE.

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