United States The Republican tax reform plan unveiled on Wednesday was the biggest driver of US markets this week. The tax reform plan pledges to affect meaningfully American corporations as Trump announced to cut the corporate tax rate from 35% to 20% (though falling short from the 15% he promised Read more…
Recent drivers of the Euro/USD exchange rate Despite the divergence in monetary policies between the hawkish FED and dovish ECB, the Euro has been appreciating against the Dollar since the beginning of 2017, registering a +13.44% increase on 1st September. However, in the last two weeks it fell under pressures Read more…
Introduction The Japanese PM dissolved the lower parliament on 28th September, initiating the process for the snap elections to be held on October 22nd. We believe that it is a move to secure a fresh mandate in the parliament after Mr. Abe’s association with a series of scandals over the Read more…
Toshiba Corporation (TYO: 6502) – market cap as of 30/09/2017: ¥1.33 trillion Introduction On September 28, 2017, Toshiba announced an agreement with Bain Capital to sell its memory chip business for $17.7bn. It was also announced that Bain Capital will create a special purpose entity to buy Toshiba’s division, which Read more…
Siemens AG (SIE:ETR) – market cap as of 29/09/2017: €101.32bn Alstom SA (ALO:EPA) – market cap as of 29/09/2017: €7.92bn Introduction The French rail transport company Alstom SA and the German industrial conglomerate Siemens AG announced on Tuesday 24 September 2017 that they agreed to merge their rail operations. The Read more…
Introduction This article will focus on the disruptive effects that e-commerce has on both the real estate and consumer retail sector. Subsequently, the paper will address Amazon and Walmart, as the former represents the incumbent driving this transition and the latter represents one of the main players being affected Read more…
United States The post-financial crisis US equity rally continues this week, with the S&P 500 closing at $2,502.22 ( +0.08% over the week). Apple’s share price slide led it to its worst week in 17 months because of the mixed reviews for its new iPhone 8, as it offers just Read more…
Industry overview One of the core Indian industries is the automotive industry. In 2016, India was the World’s 6th vehicle manufacturer with a total production of 24 million units and the 5th biggest passenger vehicle market. In the same year, this sector accounted for 7.1% of the country GDP, 27% Read more…
The aim of this article is to analyse the popular Fed Model, pointing out its strengths as a descriptive tool but warning investors against its alleged predictive qualities. The Fed Model is a stock valuation approach introduced in the late 1990s. It asserts that the acceptable earnings yield (the inverse Read more…
Northrop Grumman (NYSE: NOC) – market cap as of 23/09/2017: $49.02bn Orbital ATK (NYSE: OA) – market cap as of 23/09/2017: $7.64bn Introduction On September 18, 2017, aerospace giant Northrop Grumman announced the acquisition of Orbital ATK for approximately $9.2bn, of which $1.4bn financed through debt. The deal, to be Read more…
Kite Pharma (NASDAQ:KITE) – Market cap as of 23/09/2017: $10.28bn Gilead Sciences (NASDAQ:GILD) – Market cap as of 23/09/2017: $108.74bn Introduction On August 28, 2017, Gilead Sciences, Inc. and Kite Pharma, Inc. announced that the companies have entered into a definitive agreement pursuant to which Gilead will acquire Kite for Read more…
Clariant AG (VTX: CLN) – market cap as of 23/09/2017: CHF7.74bn Hunstman Corporation (NYSE: HUN) – market cap as of 23/09/2017: $6.55bn Introduction Clariant and Huntsman unveiled plans to create a global specialty chemical company in May, saying they expected the transaction to close by the end of 2017. The Read more…
Sempra Energy (NYSE:SRE) – market cap as of 16/09/2017: $29.39bn Introduction On August 20, 2017, Sempra Energy announced an agreement to acquire the 80% stake that Energy Future Holdings Corporation holds in Oncor Electric Delivery Company. The deal agreement ends a series of bids from relevant players, with Sempra being Read more…
United Technology Corp. (UTX:NYSE) – market cap as of 16/09/2017: $90.33bn Rockwell Collins Inc. (COL:NYSE) – market cap as of 16/09/2017: $21.30bn Introduction On September 4, 2017, United Technology Corp. announced the definitive agreement to acquire the aviation system and cabin equipment maker Rockwell Collins Inc. for a total transaction Read more…
Amazon.com (NASDAQ: AMZN) — market cap as of 15/09/2017: $476.64bn Introduction On June 16, 2017, it was announced that Amazon.com Inc. (“Amazon”) had reached a definitive agreement to acquire Whole Foods Market Inc. (“Whole Foods”), for a total cash consideration of approximately $13.7bn, including net debt. This is the latest deal in a Read more…