Global Markets Trade Strong as Oil Recovers
Global markets registered strong start for the week with oil prices recovering and Italian banks supporting European indices. Italian authorities said that they are ready to spend 17 billion Euros to deal with closure of two big banks in Italy. In Italy, Intesa Sanpaolo SpA jumped 3.5% and UniCredit SpA gained 2.3%, supporting Italian markets.
Activist investor Daniel Loeb's Third Point LLC hedge fund has invested $3.5 billion for a sizable stake in Nestle SA. The news led to 4 percent increase in Nestle stock and other beverage stocks registered smart gains.
Oil prices have been declining over the last two weeks. Finally, oil has witnessed a rebound and investors expect range-bound movement in oil for the next two weeks.
Indian Prime Minister Narendra Modi will be meeting the U.S. President Donald Trump today. This will be the first face-to-face meeting between Modi and Trump. Trump has raised the issue of H1B visas many times in the past and Indian information technology sector is concerned about protectionism. Indian companies offer services worth billions of dollars to the U.S. companies and mainly depend on H1B visas for hiring talent from India.
Royal Bank of Scotland has announced its plan to cut 443 jobs in the United Kingdom. Most of these jobs will be shifted to India, a spokesperson for RBS said. Last year, RBS shifted 400 jobs to India and 300 of them were in investment banking division.
In response to detention of a German writer by Turkish authorities on Sunday, German Chancellor Angela Merkel accused Turkish authorities of misusing Interpol warrants.
In a highly ambitious move for China’s fast-growing domestic auto brands, Great Wall Motors is reportedly considering a plan to make a bid to acquire the Jeep unit of Fiat Chrysler.
Intel’s upcoming 8th-generation Core CPUs, which will feature quad-core processors inside of its chips, is expected to offer as much as 40 per cent faster performance than the previous generation.
Renowned auto giant Volkswagen (VW) recently confirmed that its microbus, a hippie favorite that was first launched in the 1950s, would be brought back onto public roads.
Technology and search major Google has officially enabled the eagerly-awaited Bluetooth audio streaming feature for Google Home, Android Police reported.
Internet search giant Google has confirmed that it has made a major update to its mobile search results pages to help users decide if a video brought up by the search engine is actually a video that they want to see.