Flash Briefing: Trump ditches Davos; Richemont jumps on good 4Q; Aussie housing slump; Ford slashes EU jobs

IN TODAY’S GLOBAL HEADLINES… Ford EMEA is to overhaul its operations with actions including retrenchments, plant closures and stopping the production of low profit models. US president Donald Trump won’t be going to Davos after all as pressure rises against him on numerous fronts. Australian house prices fell just over 6% in 2018, the worst result in 35 years and threatening the country's 27 year recession-free record. In South African-related news, the share price of global luxury goods group Richemont rose more than 2% this morning on the release of strong results for the December quarter.