Trump: China is willing to make a deal

The US President Donald Trump said to media representatives that he believes China is willing to make a trade deal. He told media that if the trade war is to prolonged the US will benefit more from it. He was speaking in Morristown before boarding Air Force One on Thursday.

According to Wall Street Journal, President Trump has also asked White House advisers to analyse if the Danish owned Greenland would be for sale. The idea of buying the Danish governed island would be in the national security interest, while one of the US Air bases is located on the island.

The speculation of the idea has come into public while Mr Trump will be visiting Denmark during September. None of the parties have responded to a request for comment, the newspaper says.

Business Finance

Aston Martin and the new SUV later this year

The British luxury car manufacturer Aston Martin (AML) is launching its first ever sport utility vehicle later this year. The new car, called DBX, will be important to the company after the weak demand in the UK and in Europe due to growing economic concerns and Brexit.

Aston Martin, which had its IPO last October in London Stock Exchange, is now trading below 5  pounds, while the IPO-price was 19 pounds per share, valuing the company at 4,3 billion pounds at that time.

The company was founded more than one hundred years ago by founders Lionel Martin and Robert Bamford in 1913 in a small London workshop. According to the company strategy Aston Martin will launch full EV capability by 2022. The aim is also to be the British car company that create the most beautiful and accomplished automotive art in the world.

The London Stock Exchange closed today down 1,13 % to 7067 points, while in Germany the Dax-index closed down 0,70 % to 11 412 points and in France the CAC 40 -index closed down 0,27 % to 5236 points.

 

 

 

 

 

Business Finance Tech

Stocks plunged in Wall Street due to global growth

The global economic growth was the major concern in the financial markets today. Wall Street plunged and the main indexes showed decline by over 2,8 %. According to market analysts the economic information from China and Germany and the ongoing uncertainty with the UK Brexit-deal were the main topics.

China´s industrial output growth has declined to 17-years low and Germany´s export declined during the second quarter Reuters reported. S&P 500 -index declined by 2,77% to 2845 points, Dow Jones index by 2,91 % to 25516 points and Nasdaq-index by 2,87 % to 7786 points.

Department store Macy´s (M) published its figures and the stock declined by 13,22 % to 16,80 dollars. The company’s net sales during the second quarter was 5,5 billion dollars that is nearly the same level than a year ago. According to the release the company said the quarter was a slow start and was below expectations. Macy´s lowered its guidance for the whole year.

In Europe the stocks declined as well and in Germany the DAX-index closed down 2,19 % to 11 492 points and in France the CAC 40 -index closed down 2,08 % to 5251 points. In London the FTSE index closed down 1,42 % to 7147 points.

Euro was trading at 1,11 dollars and sterling at 1,205 dollars.

 

 

 

 

 

 

 

 

 

Business Finance

WeWork´s billions IPO and 6 billion debt

The US office-rental company WeWork is planning an IPO with 3-4 billions dollars. The company announced today more info about its figures, which shows the company had a revenue of 1,8 billion dollars during the first 6 months of 2019 and the loss was 700 million dollars. The company published also its plans to raise up to 6 billion dollars in debt.

– We have a history of losses and if we continue to grow at an accelerated rate, we may be unable to achieve profitability at a company level, WeWork said. According to the company also the average revenue per membership has declined and the company expects the trend to continue.

The Japan SoftBank is one of the largest investors behind WeWork and the company has offices in over 100 cities worldwide.

Corrected: WeWork is expected to raise 3-4 billion dollars according to Wall Street Journal

Business Finance

Tech stocks up in Wall Street – RealReal +12 %

The tech stocks soared up in Tuesday trading in New York. Apple´s (AAPL) stock closed up 4,23 % to 208,97 dollars due to the tariffs delays in the US China trade negotiations. Also retail gained and for example Amazon (AMZN) closed up 2,21 % to 1824 dollars. The tariffs delay is expected to help the Christmas shopping as well.

The re-used luxury online shop RealReal gained over 12 % in trading. The company published its second quarterly figures ending June 30th. According to the press release the total revenue gained 51 % to 71 million dollars from a year earlier and the average order value was 452 dollars. The net loss was 26,8 million dollars compared to the loss of 17,6 million dollars a year ago. The company had the IPO in the beginning of July.

Tesla (TSLA) was also up, 2,62 % to 235 dollars and Ralph Lauren (RL) also up 1,61 % to 93,41 dollars. The retail company Macy´s was also up, 0,41 % to 19,36 dollars. The company is to publish its figures on Wednesday.

Dow Jones- index closed up 1,44 % to 26 279 points, the large S&P 500 -index closed up 1,48 % to 2926 points and tech-index Nasdaq closed 1,95 % to 8016 points. Semiconductor sector index closed up 2,95 % to 1489 points.

Business Finance

US to delay some tariffs with China – stocks up

The US Trade Administration has delayed some tariffs with China. Tariffs, which were about to come into force in September, are now delayed until mid December. The goods, valued at 300 billion dollars, are related to some electronics, toys and clothings.

The US financial markets jumped after the news and Dow Jones -index is trading up 1,6 % and Nasdaq nearly 1,9 % up. The larger S&P 500- index is also trading up, 1,5 % and the Brent oil future is having over 5 % increase. Euro is trading at 1,12 dollars.

Business Finance

Uber revenue + 14 % – loss widens to 5,4 billion

The ride-hailing company Uber (UBER) reported its second quarter figures, ending June 30.  According to the company info, the revenue rose 14 % to 3,1 billion dollars, while the loss increased to 5,4 billion dollars from 739 million loss a year earlier. Diluted net loss was 4,72 dollars per share, while it was -2,01 dollars a year ago.

According to Uber, the operating loss includes for example the driver compensation of nearly 300 million dollars related to the IPO process.

The ridesharing revenue rose 2 % to 2,3 billion dollars during the quarter and the Uber Eats revenue rose 72 % to 595 million dollars.

-Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of last year,” said Dara Khosrowshahi, CEO, in the press release.

-In July, the Uber platform reached over 100 million Monthly Active Platform Consumers for the first time, as we become a more and more integral part of everyday life in cities around the world, the CEO said.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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