Elon Musk deems UK too “risky”

Brexit made the UK too risky, so Tesla has chosen the suburbs of Berlin as the location for its European factory. In Switzerland, Sunrise officially renounces the purchase of UPC, which will cost it several tens of millions of francs. U.S. stock-index futures drop with Asian and European shares, after Donald Trump’s latest comments on international trade.

Canada Goose, Cisco, NetApp, Cisco, Mitsubishi UFJ, Sumitomo Mitsui, ABN Amro, SSE, Terna, Bâloise, Lufthansa, Altice Europe or British Land are among companies reporting earnings today.

Tesla ist ein Berliner.  In an interview with Auto Express, Elon Musk announced that he has chosen to install its European Gigafactory in Berlin, and has overlooked the U.K. due to Brexit, which makes it too “risky”. The large European Tesla plant will be built near Berlin, Germany, Elon Musk announced. The site "will build batteries, engines and vehicles, starting with the Model Y", said the manager on Twitter (which he promised not to use again a week ago, before giving up two days later). Musk cited the quality of German engineering as one of the reasons for this choice.

Sunrise gives up. Sunrise officially waives its right to buy UPC Switzerland from Liberty Global, which will result in a withdrawal penalty of CHF 50 million. In addition to the publication of its quarterly morning results, the Swiss operator added that its additional costs related to the transaction will be between CHF 70 and CHF 75 million, including CHF 27 million already included in the accounts. This setback is explained by the hostility of some shareholders to the transaction.

Victim of its success. On the day of its launch, Walt Disney's streaming platform experienced technical failures yesterday. Social networks quickly filled up with messages from users who could not access the service or who found themselves with errors or very long loading times. The group promises to remedy the problem quickly: it has ample means to do so.

Nike leaves Amazon. Nike will stop selling its textiles and shoes directly on Amazon.com. The group had been present on the platform since 2017, through a two-way agreement to reduce counterfeiting on the merchant site. Nike says it prefers to focus on selling through his own channel and other partnerships.           

In other news. Mediaset's CFO stated that the group had no intention of buying ProSiebenSat, despite its increase to 15.1% of the capital. ThyssenKrupp reportedly has at least three suitors for its elevator business, but not the Swiss Schindler, who fears the antitrust consequences if it positioned itself. An American regulator is looking into the agreement between Google and Ascension on the use of patient data.