Apple to launch euro-denominated Green Bonds

The US tech company Apple (AAPL) launched last week two euro-denominated Green Bonds with maturities of 6 and 12 years. According to the company the aim of the new Green Bonds is to foster energy efficiency in the company supply chain and products and cut carbon emissions. Total amount is 2 billion euros.

The company has three environmental priorities in its framework which the bonds are targeted also:

  1. Climate change: Mitigate the company impact on climate change by reducing the comprehensive carbon footprint.
  2. Smarter Chemistry: Pioneer the use of greener materials in the company products and processes.
  3. Resources: Conserve Earth’s resources by transitioning to recycled and renewable materials in the products, and by minimizing water and waste in the company operations and throughout the product lifecycle.

Apple said also that it intends to list the bonds in the Nasdaq Bond Exchange.

The Green Bonds markets have been growing steadily this year and it is expected that the overall issuance will reach over 200 billion dollars this year.

Finance Tech Business

Ralph Lauren expects 2-3% growth in revenues for 2020

The US premium lifestyle designer Ralph Lauren (RL) expects its net revenue to increase 2-3 % in the fiscal 2020. According to the company release the estimate is now at the lower range due to the unrest in Hong Kong.

Ralph Lauren said its net revenue increased to 1,7 billion dollars during the second quarter fiscal 2020 ending Septemberg 2019. In North America the revenue was nearly the same, 881 million dollars, while in Europe the revenue increased to 480 million dollars and in Asia to 255 million dollars. A year earlier the revenues were 464 million and 244 million dollars respectively.

The company has 1170 stores globally and the amount increased by average 50 stores globally during the period. The increase was mainly in Asia and in Europe.

The operating income increased by 11% to 233 million dollars and net income to 182 million dollars (170 million dollars).

Business Finance

LVMH Wines to grow “double-digit” in China

The French luxury group LVMH Wine is growing double-digit in China. According to Bloomberg, the CEO of Moet Hennessy Philippe Schauss says that the Chinese consumers are interested in luxury products and the growth rates are good. He was speaking with Bloomberg at the China International Import Export Fairs in Shanghai.

He also commented the market situation with the unrest in Hong Kong saying it has had a modest impact in the sales of LVMH Wines in Hong Kong. According to Mr. Schauss the US trade talks with 25 % import tariffs for French wines and whisky is something they are watching closely.

The Chinese markets are the second biggest wine markets globally.

 

 

 

 

 

Business Lifestyle

Tiffany valuation in the possible LVMH merger

The merger process between Tiffany (TIF) and its the French rival LVMH (LVMH) might be more complicated than earlier expected. According to Reuters, Tiffany thinks the French luxury group LVMH (LVMH) has significantly undervalued the Tiffany market value. Earlier the LVMG Group presented a takeover bid of 120 dollars per Tiffany share.

According to the news, the offer “significantly undervalues” Tiffany, Reuters writes citing unidentified people familiar with the matter.

Tiffany´s market value has increased to 15,06 billion dollars and the shares are trading at 124,69 dollars in NYSE, New York. The next Q3 earnings report is coming on December the 12th.

 

Finance Lifestyle

China Pacific and Swiss Re are in talks – Bloomberg

The Chinese insurance company China Pacific Insurance and Swiss Re are in talks, says Bloomberg. According to the news, China Pacific would invest 2 billion dollars for a stake in Swiss Re and Swiss Re would invest 500 million – 1 billion dollars in China Pacific shares.

The China Pacific is looking for partnerships overseas and the company is also planning a GDP for global depositary receipts program in the London Stock Exchange. According to the news, this would mean about 10 % of the company’s A-shares capital.

Both companies shares have increased modestly in Zurich and in Hong Kong and Shanghai. Swiss Re rose 2,3 % in Zurich yesterday and China Pacific over 2 % today in Asia.

Lifestyle

US considers to cut some China tariffs

The US is condidering to cut Chinese tariffs in order to boost the negotiations further.

The US President Donald Trump and China’s Xi Jinping are expected to enter the deal discussion after the cancelled Apec meeting in Chile.

The news helped stock markets to enter new hights in New York. For example Nasdaq- index and Dow Jones closed record high on Tuesday trading.

Business Finance