William Ackman announced that his activist hedge-fund Pershing Square Capital Management LP holds about $900 million position in Starbucks Corp, Reuters reports. Fund thinks that the largest coffee chain in the world will be able to overcome sales stagnation in its home market.
According to Bloomberg, investors did not get relief on Thursday, as the largest selloff of US shares spread to Asia and Europe. Europe bonds gained, while US Treasuries were stable with 3,17% yield.
Selloff of US stocks that started earlier spilled over Asian markets on Thursday, Bloomberg reports. Indexes in Japan, Hong Kong and China lost at least 3,5%.
London’s house prices slump prevents UK’s prices growth five months in a row, Bloomberg reports. Meanwhile, concerns over Brexit and interest hike continue scaring away buyers.
Moving abroad increases average worker’s income by $21000, while highest paid positions are found in Switzerland, US and Hong Kong. These are the results of research showing that 28% of expats changed place of living and working to be promoted, Bloomberg reports. In Switzerland known for its high mountains and prices the revenue may grow by $61000. Expats’ salary is in average $203000 per year, which is twice as much as global level.
Sanctions on oil export from Iran will have more serious consequences for raw material market, than was expected before, Bloomberg reports with reference to world’s leading traders. Administration of US President will most likely take a tough position to implement it.
Ikea has been planning to expand its presence in more than ten new markets in recent years, Bloomberg reports. Swedish furniture giant sets the goal to reach 3 billion potential clients by 2025.
According to Bloomberg, yield of US Treasuries continued growing while investors are waiting data on inflation in the largest world’s economy. Yield of 10-year US bonds is 3,22% today.
Germany’s industry warns about risk of trade collapse in Europe, in case if the UK and EU do not come to agreement in regards to existing differences on UK’s future after Brexit, Bloomberg reports with reference to BDI and IW.
Recent reports of such producers of luxury products as LVHM showed that trade war between Washington and Beijing did not reduce appetite of Chinese consumers in regards to such products, Bloomberg writes. This is however not related to luxury cars, such as BMW and Mercedes.
On Tuesday Procter&Gamble was informed that it was granted exemption from tariffs on import of steel from Japan and Sweden, which was equal to 25%, Reuters reports. This is good news for P&G operating in highly competitive environment.
On Tuesday European Union’s countries agreed to reduce cars emissions by 35% by 2030, Reuters reports.
This decision was made after recent UN report on global warming.
