By 
US MARKETS:
S&P 500 futures down 0.1% to 2,987.25
Brent futures up 0.6% to $64.60/bbl
Gold spot up 0.4% to $1,405.53
US Dollar Index down 0.1% to 97.18
GLOBAL NEWS:
Anta attacked by Muddy Waters. Shares in Chinese group Anta tumbled by more than 7 per cent after US short seller Muddy Water published a report about alleged fraudulent activity at the company, which suspended trading in its stock. Muddy Waters accuses Anta of secretly controlling distributors to boost its profit margins.
More trouble for Boeing. The Saudi low-cost airline flyadeal is dropping the Boeing B737 MAX for Airbus. The carrier has indicated that it has waived its commitment with the American group to switch to A320 neo aircraft, as part of an order that could cover 50 aircraft. However, this contract is part of an agreement already announced at Le Bourget between flyadeal's parent company, Saudi Arabian, and Airbus.
Refocusing. French media conglomerate Lagardère has entered into exclusive negotiations with the professional sports representative Wasserman Media Group for the sale of Lagardère Sport and Entertainment for $250 to $300 million, according to the Financial Times. The exit from the scope of this division is not a surprise, and is in line with the group's refocusing. "At this stage, nothing is precise enough to be disclosed," the company replied in a statement.
The DB Big One is launched. Deutsche Bank will cut 18,000 jobs as part of a €7.4 billion restructuring plan, including a halt to equity market activities and a reduction in the size of its investment bank. The German market leader had been waiting for several weeks for his strategy, which had caused a lot of rumors. As part of this reorganization, the institution will create a hive-off vehicle that will carry around €74 billion in risk-weighted assets for the risks it wants to get rid of.
Divestiture-investment. Equinor ASA will sell 16% of Lundin Petroleum for $1.56 billion. The proposed price represents a discount of 9.6% on Friday's closing price. After this operation, Equinor will retain 4.9% of Lundin's share capital. In parallel, it is acquiring a 2.6% direct interest in the Johan Sverdrup oil field for $910 million.
IAG sanctioned. ICO, the British data protection agency, will impose a fine of £183.4 million on British Airways for the massive passenger data leak following a hacking in 2018. The carrier considers that the penalty is disproportionate in view of its reactivity. He will plead his case with the organization to reduce the bill and does not dismiss an appeal if the fine is confirmed.
In other news. Tesco and other supermarket chains are testing employee-free stores equipped with cameras that automatically calculate consumers' tickets. WeWork is reportedly raising $4 billion in debt before it goes public, according to information from the Wall Street Journal. Julius Baer has appointed Philipp Rickenbacher CEO, effective September 1. The IPO of the Asian division of Anheuser-Busch InBev is already oversubscribed, according to Reuters.
S&P 500 futures down 0.1% to 2,987.25
Brent futures up 0.6% to $64.60/bbl
Gold spot up 0.4% to $1,405.53
US Dollar Index down 0.1% to 97.18
GLOBAL NEWS:
Anta attacked by Muddy Waters. Shares in Chinese group Anta tumbled by more than 7 per cent after US short seller Muddy Water published a report about alleged fraudulent activity at the company, which suspended trading in its stock. Muddy Waters accuses Anta of secretly controlling distributors to boost its profit margins.
More trouble for Boeing. The Saudi low-cost airline flyadeal is dropping the Boeing B737 MAX for Airbus. The carrier has indicated that it has waived its commitment with the American group to switch to A320 neo aircraft, as part of an order that could cover 50 aircraft. However, this contract is part of an agreement already announced at Le Bourget between flyadeal's parent company, Saudi Arabian, and Airbus.
Refocusing. French media conglomerate Lagardère has entered into exclusive negotiations with the professional sports representative Wasserman Media Group for the sale of Lagardère Sport and Entertainment for $250 to $300 million, according to the Financial Times. The exit from the scope of this division is not a surprise, and is in line with the group's refocusing. "At this stage, nothing is precise enough to be disclosed," the company replied in a statement.
The DB Big One is launched. Deutsche Bank will cut 18,000 jobs as part of a €7.4 billion restructuring plan, including a halt to equity market activities and a reduction in the size of its investment bank. The German market leader had been waiting for several weeks for his strategy, which had caused a lot of rumors. As part of this reorganization, the institution will create a hive-off vehicle that will carry around €74 billion in risk-weighted assets for the risks it wants to get rid of.
Divestiture-investment. Equinor ASA will sell 16% of Lundin Petroleum for $1.56 billion. The proposed price represents a discount of 9.6% on Friday's closing price. After this operation, Equinor will retain 4.9% of Lundin's share capital. In parallel, it is acquiring a 2.6% direct interest in the Johan Sverdrup oil field for $910 million.
IAG sanctioned. ICO, the British data protection agency, will impose a fine of £183.4 million on British Airways for the massive passenger data leak following a hacking in 2018. The carrier considers that the penalty is disproportionate in view of its reactivity. He will plead his case with the organization to reduce the bill and does not dismiss an appeal if the fine is confirmed.
In other news. Tesco and other supermarket chains are testing employee-free stores equipped with cameras that automatically calculate consumers' tickets. WeWork is reportedly raising $4 billion in debt before it goes public, according to information from the Wall Street Journal. Julius Baer has appointed Philipp Rickenbacher CEO, effective September 1. The IPO of the Asian division of Anheuser-Busch InBev is already oversubscribed, according to Reuters.
