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Hyundai, China, IBM: This Week's Top Trending Financial Tweets - Week 14

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04/07/2019 | 07:48am EDT

Yet another week has come to an end and so it is time for our weekly recap of financial Tweets. We've got news about Hyundai, China, IBM and more, so here goes: this week's selection of 7 trending financial Tweets.

#7. Verizon launches smartphone 5G

On Wednesday, the much-talked about 5G era for smartphones began. Verizon Communications Inc. launched its 5G wireless service in parts of Chicago and Minneapolis, the Wall Street Journal reports. Carriers in South Korea also started offering the service in the Seoul metropolitan area on the same day.

#6. Falcon Heavy’s first real launch

On Sunday, the Falcon Heavy will fly for the first time since last February, when it flew a Tesla Roadster into orbit, TechCrunch reports. This time, however, the Falcon Heavy will have a payload onboard: a Lockheed-built communications satellite.

The main reason Sunday’s launch is important comes down to its price; if all goes well, the Falcon Heavy will be the first to offer an estimated price tag of around $100 million per launch for heavy and super-heavy launch vehicles, rather than the $350-$500 million a Delta IV might cost, according to TechCrunch.

#5. Thailand’s post-coup election

Two weeks ago, the first general election since Thailand’s 2014 army coup took place. The results, however, are still unclear and allegations of manipulation are becoming stronger, Reuters reports.

Since the election on March 24, people linked to various opposition parties say they have been under increasing pressure from the police and the military. The Election Commission has also said that it will use a complex formula to distribute the 150 ‘party seats’ in the House of Representatives in a way that will most likely dilute the opposition’s seats in the 500-seat lower house, according to Reuters.

#4. Karl Lagerfeld’s cat

On a slightly less serious note, there was news about Karl Lagerfeld’s cat this week. The designer, who passed away recently, named his cat Choupette as one of his heirs, Yahoo Finance reports. Lagerfeld’s worth is estimated at around $150 million which would make Choupette one of the richest cats in the world.

The cat does earn some decent money of her own too though: for two jobs done in one year, Choupette was paid no less than $3 million.

#3. China’s gold fever

China, the world’s second-biggest economy, expanded its gold reserves for the fourth consecutive month, Bloomberg reports. The People’s Bank of China increased its reserves to 60.62 million ounces in March, from 60.26 million the month before.

China is the world’s biggest gold producer and consumer. If it continues to expand its gold reserves at this pace during the rest of the year, it might finish as the top buyer after Russia, according to Bloomberg.

#2. IBM’s artificial intelligence

Applications of artificial intelligence are increasingly used in various industries, Human Resources included. IBM has now developed an artificial intelligence tool that is able to predict with a 95% accuracy which employees are planning to leave their job - even if they don’t know it yet themselves, CNBC reports.

IBM HR has the patent for this ‘predictive attrition program’ and the company’s CEO, Ginny Rommetty said the AI has saved IBM almost $300 million in retention costs, according to CNBC.

#1. Hyundai denies deal with Tencent

On Sunday, South Korean carmaker Hyundai denied having signed a deal with Chinese tech giant Tencent to develop software for driverless vehicles together, Reuters reports. According to the automaker, its cooperation with Tencent is focused on infotainment.

Hyundai’s statements followed an article in a South Korean paper on Saturday saying that the two companies planned to do joint research and development on safety and security systems for driverless cars. 

Voila, that's the 14th week of 2019 all captured in Tweets. As always, we’ll continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next week.

Source: www.scoopnest.com.

Stocks mentioned in the article
ChangeLast1st jan.
ONE STOP SYSTEMS, INC. -2.37% 2.47 Delayed Quote.31.44%

Neelie Verlinden
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