Cost overruns at its American nuclear-power subsidiary and a general deterioration in the outlook for its other nuclear businesses abroad caused Toshiba to announce a ¥712.5bn ($6.3bn) write-down. Its chairman resigned. The troubled Japanese conglomerate also revealed it had received further allegations about how its American division had accounted a takeover deal. Toshiba’s ever-lengthening list of problems has caused it to consider selling its lucrative memory-chip business; it had said only recently that it would limit any potential buyer’s stake to 19.9%.

Rolls-Royce reported an annual headline loss of £4.6bn ($6.2bn), the biggest in the British engineering group’s history. This was in part because of a £671m fine that Rolls-Royce incurred to settle allegations that it had bribed officials in various countries. But the vast bulk of the loss was attributed to an accounting charge the company had to book after it revalued its currency positions following the slump in the pound.

Up in the air

The increasing costs of petrol, clothing and cars helped push America’s annual rate of inflation up to 2.5% in January, from 2.1% in December. Speaking to congressmen this week, Janet Yellen cited rising inflation as a reason to push ahead with interest-rate rises. The head of the Federal Reserve also warned of the high degree of uncertainty about what effects the new administration’s policies will have on the economy.

Britain’s annual inflation rate rose to 1.8% in January. A weaker pound is expected to add to inflationary pressures because producers will pay more for imported raw materials and goods, though it is debatable how much of this cost they will they pass on to consumers. The growth in wages, meanwhile, slowed to 2.6% in December.

A rebound in exports towards the end of the year helped Japan’s GDP grow by 1% in 2016, down slightly from the 1.2% it recorded in 2015. With domestic consumption still stagnant, international trade remains the driver of the Japanese economy, which makes it vulnerable to any tariffs that might be imposed by the Trump administration.

The European Commission raised its forecast slightly for growth in the euro zone to 1.6% this year and 1.8% for next year. But it also pointed to the “exceptional risks” surrounding its forecast, not least of which is the start of negotiations for Britain to leave the European Union.

General Motors confirmed that it is in talks to sell its business in Europe to PSA Group in France, which makes Peugeot and Citroën cars. GM recently reported another loss at the business, which comprises the Opel brand in Germany and Vauxhall in Britain.

India’s biggest carmaker, Tata Motors, said net profit in the last three months of 2016 had slumped by 96% compared with the same period a year earlier, to just $16m. It was hit by falling income from its Jaguar Land Rover subsidiary, and also by the surprise withdrawal of 86% of the country’s banknotes by the government in November.

Feeling poorly

There were further reverberations from court decisions in America that struck down two mergers of health-care insurers on antitrust grounds. Cigna launched a lawsuit against Anthem claiming $13bn in damages, the amount it says shareholders will lose because their merger was blocked. It said Anthem had “assumed full responsibility” for attaining regulatory approval. And Humana, which had its merger with Aetna overturned, pulled out of Obamacare’s state insurance-exchanges.

Swiss voters rejected a referendum proposal to streamline Switzerland’s corporate-tax system and end the privileged treatment of multinational companies. The measure had been backed by the government to fulfil its obligation to the OECD to abolish the “special status” of multinationals by 2019.

A $3bn quarterly loss at American International Group sent its share price tumbling. The insurance company took a $5.6bn charge because of ballooning costs from commercial claims.

Snap, the parent company of Snapchat, reportedly set the price range of its forthcoming IPO at $14-16 a share, which values it between $19.5bn and $22.2bn. That is lower than the valuation it listed in recent regulatory filings, but still makes it the biggest tech stockmarket flotation in America since Alibaba’s in 2014.

The ethical bank

The Co-operative Bank in Britain put itself up for sale. It had never properly recovered from the losses it incurred from bad property loans and the dent to its reputation from a sex-and-drugs scandal involving a former chairman.