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10 things you need to know in markets today
Sputnik/Aleksey Nikolskyi/Kremlin
Russian President Vladimir Putin gestures during an interview with French daily newspaper Le Figaro in Paris, France May 29, 2017. Picture taken May 29, 2017.
Good morning! Here’s what you need to know in markets on Thursday.
1. President Donald Trump has decided to take the US out of the Paris climate accord, Jonathan Swan of the news website Axios first reported Wednesday, citing two sources. Politico and CNN are also reporting that Trump intends to pull out of the agreement, citing White House officials. Trump tweeted that he will announce his decision at 3 p.m. ET (8 p.m. BST) in the Rose Garden of the White House on Thursday.
2. It’s manufacturing PMI day in Europe. Estimates of growth in the manufacturing sectors of Spain, Italy, France, Germany, Greece, Britain, and the Eurozone as a whole will be delivered by IHS-Markit from 8.15 a.m. BST (3.15 a.m. ET) onwards. The UK figure is due at 9.30 a.m. BST (4.30 a.m. ET) and economists are expecting 56.5, a fall from 57.3 in April.
3. The Murdoch brothers have held secret talks with Ofcom in a bid to persuade the regulator to wave through 21st Century Fox’s planned £11.7 billion takeover of Sky, according to a report in the Telegraph. It is understood that Sharon White, chief executive of Ofcom, has met James and Lachlan Murdoch in London in the last week to discuss the proposed deal. Rupert Murdoch, their father, was not present.
4. Sterling continues to dip amid rising fears about the outcome of next week’s general election. The pound is down 0.19% against the dollar to $1.2866 at the time of writing (6.35 a.m. BST/1.35 a.m. ET) and down 0.15% against the euro to €1.1446.
5. Uber’s head of finance is leaving the company, giving the ride-hailing startup the tricky task of trying to fill two high-level holes in its leadership team as it grapples with multiple scandals and bleeds hundreds of millions of dollars in red ink every quarter. Uber lost $708 million (£550.5 million), excluding stock compensation expenses, in the first three months of the year, an Uber spokesperson told Business Insider.
6. The private equity group behind the takeovers of Formula One motor racing, Samsonite suitcases, and Breitling luxury watches has set a new European fundraising record, the Financial Times reports. CVC Capital Partners, which is based in Luxembourg but has offices in European hubs including London, comfortably raised €16 billion (£13.9 billion) after being swamped with demand of between €25 billion (£21.8 billion) and €30 billion (£26.2 billion) from investors.
7. Skepticism over the accuracy of Chinese economic data has just gone up a notch following the release of the Caixin-IHS Markit manufacturing PMI report for May, with the survey painting a very different picture of the health of China’s industrial sector compared to government figures released on Wednesday. According to IHS Markit, its Purchasing Managers Index (PMI) came in at 49.6, below the 50.3 level reported in April and expectations for a smaller decline to 50.1.
8. Asian stock markets are mostly rallying. Japan’s Nikkei is up 0.99% at the time of writing (6.25 a.m. BST/1.25 a.m. ET), the Hong Kong Hang Seng is up 0.27%, but China’s Shanghai Composite is down 0.51% after the IHS-Markit numbers. US stocks barely budged once again on Wednesday but all three major indices closed slightly in the red.
9. US Senator Chuck Grassley (R-IA) says the Department of Health and Human Services (HSS) has calculated that Mylan may have overcharged the government by about $1.27 billion (£990 million) for EpiPens, a life-saving anti-allergy medicine. If Grassley and HHS are correct, that could mean a massive fine for the company — far more than expected.
10. Shares of Box rose more than 4% in after-hours trading Wednesday after the cloud storage firm’s quarterly earnings edged ahead of Wall Street analyst’s expectations. The Redwood City, California, based company posted revenue of $117.2 million (£91.1 million) for the period, ahead of a Thomson Reuters consensus forecast of $114.7 million (£89.1 million).
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
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(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
Sputnik/Aleksey Nikolskyi/Kremlin
Russian President Vladimir Putin gestures during an interview with French daily newspaper Le Figaro in Paris, France May 29, 2017. Picture taken May 29, 2017.
Good morning! Here’s what you need to know in markets on Thursday.
1. President Donald Trump has decided to take the US out of the Paris climate accord, Jonathan Swan of the news website Axios first reported Wednesday, citing two sources. Politico and CNN are also reporting that Trump intends to pull out of the agreement, citing White House officials. Trump tweeted that he will announce his decision at 3 p.m. ET (8 p.m. BST) in the Rose Garden of the White House on Thursday.
2. It’s manufacturing PMI day in Europe. Estimates of growth in the manufacturing sectors of Spain, Italy, France, Germany, Greece, Britain, and the Eurozone as a whole will be delivered by IHS-Markit from 8.15 a.m. BST (3.15 a.m. ET) onwards. The UK figure is due at 9.30 a.m. BST (4.30 a.m. ET) and economists are expecting 56.5, a fall from 57.3 in April.
3. The Murdoch brothers have held secret talks with Ofcom in a bid to persuade the regulator to wave through 21st Century Fox’s planned £11.7 billion takeover of Sky, according to a report in the Telegraph. It is understood that Sharon White, chief executive of Ofcom, has met James and Lachlan Murdoch in London in the last week to discuss the proposed deal. Rupert Murdoch, their father, was not present.
4. Sterling continues to dip amid rising fears about the outcome of next week’s general election. The pound is down 0.19% against the dollar to $1.2866 at the time of writing (6.35 a.m. BST/1.35 a.m. ET) and down 0.15% against the euro to €1.1446.
5. Uber’s head of finance is leaving the company, giving the ride-hailing startup the tricky task of trying to fill two high-level holes in its leadership team as it grapples with multiple scandals and bleeds hundreds of millions of dollars in red ink every quarter. Uber lost $708 million (£550.5 million), excluding stock compensation expenses, in the first three months of the year, an Uber spokesperson told Business Insider.
6. The private equity group behind the takeovers of Formula One motor racing, Samsonite suitcases, and Breitling luxury watches has set a new European fundraising record, the Financial Times reports. CVC Capital Partners, which is based in Luxembourg but has offices in European hubs including London, comfortably raised €16 billion (£13.9 billion) after being swamped with demand of between €25 billion (£21.8 billion) and €30 billion (£26.2 billion) from investors.
8. Asian stock markets are mostly rallying. Japan’s Nikkei is up 0.99% at the time of writing (6.25 a.m. BST/1.25 a.m. ET), the Hong Kong Hang Seng is up 0.27%, but China’s Shanghai Composite is down 0.51% after the IHS-Markit numbers. US stocks barely budged once again on Wednesday but all three major indices closed slightly in the red.
9. US Senator Chuck Grassley (R-IA) says the Department of Health and Human Services (HSS) has calculated that Mylan may have overcharged the government by about $1.27 billion (£990 million) for EpiPens, a life-saving anti-allergy medicine. If Grassley and HHS are correct, that could mean a massive fine for the company — far more than expected.
10. Shares of Box rose more than 4% in after-hours trading Wednesday after the cloud storage firm’s quarterly earnings edged ahead of Wall Street analyst’s expectations. The Redwood City, California, based company posted revenue of $117.2 million (£91.1 million) for the period, ahead of a Thomson Reuters consensus forecast of $114.7 million (£89.1 million).
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2qICnx6
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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