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Business this week Mar 30th 2017
1/ Global stockmarkets initially fell this week as investors digested the failure of Donald Trump’s health-care reform bill and appeared to lose faith ………………
his administration’s ability to fulfil campaign promises. The dollar also hit a four-month low ………………………. a basket of currencies. Both regained some
ground, however, ………………….. the release of some better-than-expected consumer data. American consumers’ confidence ……………….. the economy rose
in March ……………… its highest level since December 2000, according ………………….. the Conference Board, whose monthly survey factors ……………………
views of business conditions, personal finances and jobs.
2/ Dow Chemical and DuPont, two chemical giants, won approval ………………. the European Union …………………. their $130bn merger, …………………… making
concessions including the sale of large parts of DuPont’s pesticide business. The European Commission is yet to rule ………………….. two more big agrochemical
deals: Bayer’s proposed takeover ……………….… Monsanto and ChemChina’s bid …………………. Syngenta.
3/ Saudi Arabia cut the income-tax rate ……………… Saudi Aramco …………………. 85% ………………… 50%. Reducing the national oil company’s tax burden by
tens of billions of dollars will make it more attractive ………………… investors …………….. the run-up ……………… its IPO, which is expected to be the world’s
largest-ever equity sale. The plan is to sell a 5% stake late next year.
4/ Europe’s highest court ruled that sanctions imposed ………………… Rosneft, following Russia’s annexation of Crimea, were legal. The state-controlled oil
giant had claimed that the measures violated a 1994 co-operation agreement ……………………… the EU and Russia. Sanctions have not prevented Rosneft
………… recently selling a 19.5% stake to Qatari investors and Glencore, an Anglo-Swiss mining firm, thanks ………. a loophole that permits equity purchases.
5/ American Airlines, the world’s largest carrier, is to buy a $200m stake …………….. China Southern Airlines, China’s biggest. The deal should mean greater
co-operation …………………... routes. American is keen to strengthen its presence ………………….. the Chinese market; China Southern wants to expand abroad.
6/ Westinghouse, the American nuclear division of Toshiba, filed ……………….. bankruptcy in New York. Toshiba warned that write-downs could mean that
losses last year will exceed ¥1trn ($9bn), throwing ………………… question the conglomerate’s future.
7/ The European Commission dealt a lethal blow ……………….. the proposed merger of the London Stock Exchange and Deutsche Börse. Regulators argued
that a deal would hinder competition by creating a de facto monopoly …………….. bond-clearing and repurchase agreements. The proposed tie-up was the
two companies’ third attempt to create Europe’s largest exchange operator.
8/ The Bank of England unveiled tougher stress tests ………………. British banks, which will now face an assessment of their longer-term risks, such as Brexit,
as well as their resilience …………………. a severe economic shock.
9/ Samsung unveiled the Galaxy S8. The South Korean firm is hoping the device proves a distraction ………………. its many woes. It is the first smartphone
Samsung has released since the disastrous Galaxy Note 7, which had to be recalled due ………….…. its combustible batteries. Several executives have also
been arrested …………….. a corruption probe that led to the impeachment of South Korea’s president, Park Geun-hye; Samsung’s de facto boss is standing
trial …………….. charges of bribery and embezzlement. Remarkably, the firm’s shares continue to trade ……………… an all-time high.
10/ America’s Congress overturned recently enacted internet privacy rules stipulating how internet service providers can use customer data. ISPs will be
able to share browsing histories and financial, health and location data …………… users’ consent and ……………….. offering an opt-out. Large ISPs hailed the
ruling; such intimate data hold tremendous marketing value. Privacy campaigners shuddered.
11/ Bill Gross ended his legal battle ………………... Pimco, the investment firm he co-founded, ……………….. a settlement reported to be $81m. The erstwhile
“bond king” sued the firm after being pushed ………………. in 2014 ……………….. sagging investment returns and a clash of management styles. As part of the
deal a room will be named ………………. him ……………….. Pimco’s headquarters.
12/ Elon Musk, a serial entrepreneur, announced the launch of Neuralink, a firm that aims to develop technology to link computers directly ………………. the
brain. The firm will initially focus …………………. medical applications, but Mr Musk has long argued that humans must embrace brain implants ………………..
order to stay relevant as artificial intelligence advances.
Business this week Mar 30th 2017
1/ Global stockmarkets initially fell this week as investors digested the failure of Donald Trump’s health-care reform bill and appeared to lose faith ………………
his administration’s ability to fulfil campaign promises. The dollar also hit a four-month low ………………………. a basket of currencies. Both regained some
ground, however, ………………….. the release of some better-than-expected consumer data. American consumers’ confidence ……………….. the economy rose
in March ……………… its highest level since December 2000, according ………………….. the Conference Board, whose monthly survey factors ……………………
views of business conditions, personal finances and jobs.
2/ Dow Chemical and DuPont, two chemical giants, won approval ………………. the European Union …………………. their $130bn merger, …………………… making
concessions including the sale of large parts of DuPont’s pesticide business. The European Commission is yet to rule ………………….. two more big agrochemical
deals: Bayer’s proposed takeover ……………….… Monsanto and ChemChina’s bid …………………. Syngenta.
3/ Saudi Arabia cut the income-tax rate ……………… Saudi Aramco …………………. 85% ………………… 50%. Reducing the national oil company’s tax burden by
tens of billions of dollars will make it more attractive ………………… investors …………….. the run-up ……………… its IPO, which is expected to be the world’s
largest-ever equity sale. The plan is to sell a 5% stake late next year.
4/ Europe’s highest court ruled that sanctions imposed ………………… Rosneft, following Russia’s annexation of Crimea, were legal. The state-controlled oil
giant had claimed that the measures violated a 1994 co-operation agreement ……………………… the EU and Russia. Sanctions have not prevented Rosneft
………. recently selling a 19.5% stake to Qatari investors and Glencore, an Anglo-Swiss mining firm, thanks ……. a loophole that permits equity purchases.
5/ American Airlines, the world’s largest carrier, is to buy a $200m stake …………….. China Southern Airlines, China’s biggest. The deal should mean greater
co-operation …………………... routes. American is keen to strengthen its presence ………………….. the Chinese market; China Southern wants to expand abroad.
6/ Westinghouse, the American nuclear division of Toshiba, filed ……………….. bankruptcy in New York. Toshiba warned that write-downs could mean that
losses last year will exceed ¥1trn ($9bn), throwing ………………… question the conglomerate’s future.
7/ The European Commission dealt a lethal blow ……………….. the proposed merger of the London Stock Exchange and Deutsche Börse. Regulators argued
that a deal would hinder competition by creating a de facto monopoly …………….. bond-clearing and repurchase agreements. The proposed tie-up was the
two companies’ third attempt to create Europe’s largest exchange operator.
8/ The Bank of England unveiled tougher stress tests ………………. British banks, which will now face an assessment of their longer-term risks, such as Brexit,
as well as their resilience …………………. a severe economic shock.
9/ Samsung unveiled the Galaxy S8. The South Korean firm is hoping the device proves a distraction ………………. its many woes. It is the first smartphone
Samsung has released since the disastrous Galaxy Note 7, which had to be recalled due ………….…. its combustible batteries. Several executives have also
been arrested …………….. a corruption probe that led to the impeachment of South Korea’s president, Park Geun-hye; Samsung’s de facto boss is standing
trial …………….. charges of bribery and embezzlement. Remarkably, the firm’s shares continue to trade ……………… an all-time high.
10/ America’s Congress overturned recently enacted internet privacy rules stipulating how internet service providers can use customer data. ISPs will be
able to share browsing histories and financial, health and location data …………… users’ consent and ……………….. offering an opt-out. Large ISPs hailed the
ruling; such intimate data hold tremendous marketing value. Privacy campaigners shuddered.
11/ Bill Gross ended his legal battle ………………... Pimco, the investment firm he co-founded, ……………….. a settlement reported to be $81m. The erstwhile
“bond king” sued the firm after being pushed ………………. in 2014 ……………….. sagging investment returns and a clash of management styles. As part of the
deal a room will be named ………………. him ……………….. Pimco’s headquarters.
12/ Elon Musk, a serial entrepreneur, announced the launch of Neuralink, a firm that aims to develop technology to link computers directly ………………. the
brain. The firm will initially focus …………………. medical applications, but Mr Musk has long argued that humans must embrace brain implants ………………..
order to stay relevant as artificial intelligence advances.
Business this week Mar 30th 2017
1/ Global stockmarkets initially fell this week as investors digested the failure of Donald Trump’s health-care reform bill and appeared to lose
faith in his administration’s ability to fulfil campaign promises. The dollar also hit a four-month low against a basket of currencies. Both
regained some ground, however, with the release of some better-than-expected consumer data. American consumers’ confidence in the
economy rose in March to its highest level since December 2000, according to the Conference Board, whose monthly survey factors in views
of business conditions, personal finances and jobs.
2/ Dow Chemical and DuPont, two chemical giants, won approval from the European Union for their $130bn merger, after making concessions
including the sale of large parts of DuPont’s pesticide business. The European Commission is yet to rule on two more big agrochemical deals:
Bayer’s proposed takeover of Monsanto and ChemChina’s bid for Syngenta.
3/ Saudi Arabia cut the income-tax rate for Saudi Aramco from 85% to 50%. Reducing the national oil company’s tax burden by tens of billions
of dollars will make it more attractive to investors in the run-up to its IPO, which is expected to be the world’s largest-ever equity sale. The
plan is to sell a 5% stake late next year.
4/ Europe’s highest court ruled that sanctions imposed on Rosneft, following Russia’s annexation of Crimea, were legal. The state-controlled
oil giant had claimed that the measures violated a 1994 co-operation agreement between the EU and Russia. Sanctions have not prevented
Rosneft from recently selling a 19.5% stake to Qatari investors and Glencore, an Anglo-Swiss mining firm, thanks to a loophole that permits
equity purchases.
5/ American Airlines, the world’s largest carrier, is to buy a $200m stake in China Southern Airlines, China’s biggest. The deal should mean
greater co-operation on routes. American is keen to strengthen its presence in the Chinese market; China Southern wants to expand abroad.
6/ Westinghouse, the American nuclear division of Toshiba, filed for bankruptcy in New York. Toshiba warned that write-downs could mean
that losses last year will exceed ¥1trn ($9bn), throwing into question the conglomerate’s future.
7/ The European Commission dealt a lethal blow to the proposed merger of the London Stock Exchange and Deutsche Börse. Regulators
argued that a deal would hinder competition by creating a de facto monopoly in bond-clearing and repurchase agreements. The proposed
tie-up was the two companies’ third attempt to create Europe’s largest exchange operator.
8/ The Bank of England unveiled tougher stress tests for British banks, which will now face an assessment of their longer-term risks, such as
Brexit, as well as their resilience to a severe economic shock.
9/ Samsung unveiled the Galaxy S8. The South Korean firm is hoping the device proves a distraction from its many woes. It is the first
smartphone Samsung has released since the disastrous Galaxy Note 7, which had to be recalled due to its combustible batteries. Several
executives have also been arrested in a corruption probe that led to the impeachment of South Korea’s president, Park Geun-hye; Samsung’s
de facto boss is standing trial on charges of bribery and embezzlement. Remarkably, the firm’s shares continue to trade at an all-time high.
10/ America’s Congress overturned recently enacted internet privacy rules stipulating how internet service providers can use customer data.
ISPs will be able to share browsing histories and financial, health and location data without users’ consent and without offering an opt-out.
Large ISPs hailed the ruling; such intimate data hold tremendous marketing value. Privacy campaigners shuddered.
11/ Bill Gross ended his legal battle with Pimco, the investment firm he co-founded, with a settlement reported to be $81m. The erstwhile
“bond king” sued the firm after being pushed out in 2014 over sagging investment returns and a clash of management styles. As part of the
deal a room will be named after him at Pimco’s headquarters.
12/ Elon Musk, a serial entrepreneur, announced the launch of Neuralink, a firm that aims to develop technology to link computers directly
to the brain. The firm will initially focus on medical applications, but Mr Musk has long argued that humans must embrace brain implants in
order to stay relevant as artificial intelligence advances.