19 August 2019 - 25 August 2019

21st August 2019
Netflix

Competition in the Media Industry

The Story This Monday (19th Aug), Disney announced that it will begin its streaming television service called “Disney Plus” in November. It is seeking to rely less on cable channels and develop online streaming services which Netflix is currently dominating. As part of this plan, it acquired some of 21st Century Fox assets last March. AT&T, America’s biggest phone company, also has similar plans. It acquired WarnerMedia last year with […]
21st August 2019
Greene King

Hong Kong Billionaire Li Ka-Shing to Buy Greene King

The Story Li Ka-Shing’s property investment firm, CK Asset Holdings Ltd., has agreed to buy the pub operator and brewer Greene King Plc for £4.6 billion. It is paying £2.7 billion for the company, while taking on its £1.9 billion worth of debt. This is following concerning performance over the last year for Greene King, with full-year pre-tax profit down 12.5%. CK’s strategy for Greene King is currently unclear, but […]

12 August 2019 - 18 August 2019

17th August 2019
China currency devaluation

China’s Currency Devaluation

The Story China’s economy is currently battling an economic slowdown, political unrest in Hong Kong, and of course the effects of a trade war with the United States. In what many perceive as a response to US tariffs on Chinese goods, the People’s Bank of China allowed the Chinese Yuan to weakened past the critical level of 7 yuan to 1 US Dollar for the first time since the global […]
14th August 2019
Uber losses

Uber’s Shares Tumble

The Story Last Thursday, Uber’s second-quarter earnings showed a loss of $5.24 billion in the last three months, following its initial public offering in May. Uber’s second-quarter numbers included a $3.9 billion charge of stock-based compensation related to its IPO, an action which has been reported to be the root cause of the latest quarterly loss. Although Uber’s revenues rose 14% to $3.17 billion in the second quarter, this was […]
14th August 2019
Investment bank

Investment Bank Job Cuts

The Story Since the start of April, major investment banks such as HSBC, Barclays, Société Générale, Citigroup and Deutsche Bank have announced job cuts amounting to almost 30,000 in total for the sector, the majority of which have been made within Europe. There are several reasons attributed to the cuts which vary from bank to bank, but the major ones include: 1. The increasing pile of debt paying negative interest […]
14th August 2019
Elizabeth Warren

Elizabeth Warren’s “Stop Wall Street Looting Act”

The Story US democrat Elizabeth Warren recently published a piece of draft legislation titled the “Stop Wall Street Looting Act”, which mentions making private equity firms responsible for the debts of the companies they own. Impact on Businesses and Law firms Such a proposal is not within the scope of mainstream Democratic or Republican thought and is unlikely to become law. Nonetheless, it feeds into the debate surrounding the ethics […]
14th August 2019
Primakov / Shutterstock.com

Apple Begins Release of its New Apple Card

The Story Last week Apple and Goldman Sachs quietly released their new Apple Card to a select few customers who had registered interest in the product previously. Apple Card is a virtual credit card working through Apple Pay, offering up to 3% cash back. While virtual, consumers can request a heavy-weighted titanium physical card. The product is supported by Goldman (and Mastercard, who is in charge of managing transaction data, […]

5 August 2019 - 11 August 2019

7th August 2019
The falling pound

The Falling Pound

The Story Before Boris Johnson’s premiership, there were fluctuations in the value of sterling to the euro dependent upon Brexit developments, but it did hover against the euro at around €1.16. Johnson’s willingness to accept a no-deal Brexit has spurred the further depreciation of the pound which has now lost 4% against the US dollar since the start of July, just €1.09 against the euro at the time of writing. […]
7th August 2019
GlaxoSmithKline

GlaxoSmithKline and Pfizer’s Consumer Health Merger

The Story Last Thursday, GlaxoSmithKline (GSK) announced the completion of its £10 billion pound transaction with Pfizer to combine their consumer health care businesses into a world-leading over-the-counter (OTC) business. Under the agreement, GSK will have a controlling equity interest of 68% whilst Pfizer holding will have an equity interest of 32%. The venture will combine GSK’s consumer health brands, such as Sensodyne and Panadol, with Pfizer’s Centrum and Advil. […]