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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Commercial Awareness Update - July 2018
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<blockquote data-quote="Coralin96" data-source="post: 1186" data-attributes="member: 15"><p>Thanks!</p><p></p><p>I’ve got a few more commercial stories from 26/06/2018 to 06/07/2018</p><p></p><p><strong>The road to a trade war</strong></p><p></p><p><strong>The story: </strong>Yesterday was the biggest escalation in the US/China trade war so far. On Friday 5 July, the US imposed tariffs on $34bn of goods produced in China. In response, China announced tariffs on US farm and energy exports, also worth a total of $34bn. The news of China’s retaliation then angered Trump, who threatened tariffs of $450bn.</p><p></p><p><strong>Impact on law firms and businesses: </strong>The latest tariffs follows Trump’s steel tariffs on Japan, threats of tariffs on EU car imports, and Trump’s ongoing NAFTA negotiations with Mexico and Canada. In other words, Trump is disrupting world trade.</p><p></p><p>US manufacturers may need to rethink their supply chains and move production into the US to avoid tariffs on their imports. China may move business to American competitors in Europe or Asia, opening opportunities for non-American businesses. Some signs show that businesses are slowing down investments as the trade war escalates.</p><p></p><p>It remains to be seen how far China will change its intellectual property laws and joint venture rules for businesses trying to operate in the country. If it does, it will be easier for law firms to operate in China. One law firm, Linklaters is already targeting capital markets and M&A in China and became the first magic circle law firm to secure Chinese law capability in May 2018.</p><p></p><p><strong>Trump leading the way in rising oil prices</strong></p><p></p><p><strong>The story: </strong>In May, OPEC, a group of the world’s major oil-exporting nations, and Russia agreed to increase oil output to bring down rising oil prices. But since then, the price of Brent crude has risen to over $77 a barrel.</p><p></p><p><strong>Impact on law firms and businesses: </strong>Oil prices are at a three and a half year high thanks to OPEC curbing production, Venezuela’s collapsing oil industry and Trump’s sanctions on Iran.</p><p></p><p>Trump has warned its allies to stop purchasing oil from Iran or they risk breaching US sanctions, and over 50 international firms have also exited the country. This fall in the supply of oil is pushing prices up against a backdrop of record demand, which has been fuelled by Trump’s tax cuts and improving global growth.</p><p></p><p>The rising oil prices will benefit oil producers after years of low prices that caused large cuts in the industry and led to many businesses collapsing. These businesses were forced to restructure and cut costs, and now they can stand to benefit from the higher prices. Many oil and gas companies have reported higher earnings, including BP, which rose by 71% in the first quarter of 2018. The big investors in energy funds and US oil stocks will also benefit from higher returns.</p><p></p><p><strong>Amazon disrupts healthcare</strong></p><p></p><p><strong>The Story: </strong>On June 28th, Amazon bought an online pharmacy, PillPack for $1bn. The healthcare industry had been anticipating the announcement, fearing that Amazon would extend its one-stop shop to prescription drug. The announcement sent competitor shares plummeting.</p><p></p><p><strong>Impact on law firms and businesses: </strong>Almost $15bn in value was wiped off CVS Health, Walgreens and Rite Aid, the big US pharmacy players on the announcement of the acquisition. Investors fear that Amazon will take over the sector, which is worth $450bn a year, and the move is suggested to have led to the recent frenzy of consolidation in the sector. For example, CVS is acquiring Aetna for $68bn, and has begun offering same day prescription delivery. In the US, Amazon already sells over the counter medicine and recently partnered up with JPMorgan Chase and Berkshire Hathaway (Warren Buffet’s investment firm) in a joint venture. The trio are trying to reduce costs and lower prices through a non profit healthcare venture.</p></blockquote><p></p>
[QUOTE="Coralin96, post: 1186, member: 15"] Thanks! I’ve got a few more commercial stories from 26/06/2018 to 06/07/2018 [B]The road to a trade war[/B] [B]The story: [/B]Yesterday was the biggest escalation in the US/China trade war so far. On Friday 5 July, the US imposed tariffs on $34bn of goods produced in China. In response, China announced tariffs on US farm and energy exports, also worth a total of $34bn. The news of China’s retaliation then angered Trump, who threatened tariffs of $450bn. [B]Impact on law firms and businesses: [/B]The latest tariffs follows Trump’s steel tariffs on Japan, threats of tariffs on EU car imports, and Trump’s ongoing NAFTA negotiations with Mexico and Canada. In other words, Trump is disrupting world trade. US manufacturers may need to rethink their supply chains and move production into the US to avoid tariffs on their imports. China may move business to American competitors in Europe or Asia, opening opportunities for non-American businesses. Some signs show that businesses are slowing down investments as the trade war escalates. It remains to be seen how far China will change its intellectual property laws and joint venture rules for businesses trying to operate in the country. If it does, it will be easier for law firms to operate in China. One law firm, Linklaters is already targeting capital markets and M&A in China and became the first magic circle law firm to secure Chinese law capability in May 2018. [B]Trump leading the way in rising oil prices[/B] [B]The story: [/B]In May, OPEC, a group of the world’s major oil-exporting nations, and Russia agreed to increase oil output to bring down rising oil prices. But since then, the price of Brent crude has risen to over $77 a barrel. [B]Impact on law firms and businesses: [/B]Oil prices are at a three and a half year high thanks to OPEC curbing production, Venezuela’s collapsing oil industry and Trump’s sanctions on Iran. Trump has warned its allies to stop purchasing oil from Iran or they risk breaching US sanctions, and over 50 international firms have also exited the country. This fall in the supply of oil is pushing prices up against a backdrop of record demand, which has been fuelled by Trump’s tax cuts and improving global growth. The rising oil prices will benefit oil producers after years of low prices that caused large cuts in the industry and led to many businesses collapsing. These businesses were forced to restructure and cut costs, and now they can stand to benefit from the higher prices. Many oil and gas companies have reported higher earnings, including BP, which rose by 71% in the first quarter of 2018. The big investors in energy funds and US oil stocks will also benefit from higher returns. [B]Amazon disrupts healthcare[/B] [B]The Story: [/B]On June 28th, Amazon bought an online pharmacy, PillPack for $1bn. The healthcare industry had been anticipating the announcement, fearing that Amazon would extend its one-stop shop to prescription drug. The announcement sent competitor shares plummeting. [B]Impact on law firms and businesses: [/B]Almost $15bn in value was wiped off CVS Health, Walgreens and Rite Aid, the big US pharmacy players on the announcement of the acquisition. Investors fear that Amazon will take over the sector, which is worth $450bn a year, and the move is suggested to have led to the recent frenzy of consolidation in the sector. For example, CVS is acquiring Aetna for $68bn, and has begun offering same day prescription delivery. In the US, Amazon already sells over the counter medicine and recently partnered up with JPMorgan Chase and Berkshire Hathaway (Warren Buffet’s investment firm) in a joint venture. The trio are trying to reduce costs and lower prices through a non profit healthcare venture. [/QUOTE]
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Commercial Awareness Update - July 2018
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