Brexit: The UK Parliament to sit on Saturday 19th

The UK Parliament is having a working day on the 19th of October after the EU Leaders meeting. According to Independent, the Parliament is getting ready for different kind of Brexit scenarios.

The UK Prime Minister Boris Johnson is having different leaders meeting during this week and for example meeting with the Irish Prime Minister Leo Varadkar. Yesterday the German counsellor Angela Merkel told the media, that the Brexit-agreement seems unlikely if the Irish border issue is not solved.

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Tesla considering Germany as a new factory site

The US electric car manufacturer Tesla (TSLA) is considering Germany´s North Rhine-Westphalia as a possible factory site in Europe. According to Rheinische Post the company has had negotiations with the local authorities regarding the issue.

According to Bloomberg, Tesla has said that Germany would be the leading choice for the European Gigafactory.

North Rhine-Westphalia is the biggest state in Germany and in the middle of German industrial manufacturing sites. The local area capitol is Dusseldorf.

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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.

 

 

 

 

 

 

 

 

 

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