#7 Tariff trouble for kidney beans
The fallout from the international trade war continues. After soybeans, pork and cranberries, now kidney beans are hit too. Chippewa Valley Bean, the largest red kidney bean processing company in North America, expected to do $25 million dollars worth of business with the European Union this year.
Then came Europes tariffs - as a retaliatory measure to Trump's tariffs on steel and aluminum in June - making American kidney beans 25% more expensive in Europe and causing many of the companys clients to cancel their orders.
#6 Big Mac, McFlurry, MacCoin?
Fastfood giant McDonalds is celebrating 50 years of Big Mac. To mark the special occasion, the American company introduced the MacCoin. Each coin is worth a free Big Mac anywhere around the world.
No mining needed: starting August 2, you can collect your very own MacCoins simply by buying a Big Mac.
#5 Bank of England raises rates
On Thursday, Bloomberg reports that the Bank of England raised its interest rates after all. And in a convincing manner: the vote to raise the interest level a quarter-point to 0.75 was unanimous (9-0). This is only the second time the BoE decides to increase its rates since the financial crisis.
#4 Weed-killing robots disrupt pesticide industry
Applications of artificial intelligence (AI) are all around us: Google finishes our sentences, Netflix suggests films and series we might want to watch, and AI-powered chatbots ask us (preliminary) interview questions when we apply for a job.
And it doesnt stop there.
On Thursday, CNBC reports that the Swiss company ecoRobotix has built an AI-driven weed-killing robot. The robot is powered by solar energy and can kill weeds for 12 consecutive hours.
Through a combination of artificial intelligence, cameras, and robotic arms, the robot sprays a dose of herbicide on weeds but not
on the crops. As such, ecoRobotix uses 20 times (!) less herbicide than traditional pesticide spraying methods.
Great news for our planet, not so great news for the $26 billion worth pesticide industry
#3 Apple hits 1 trillion milestone
Also on Thursday, a historical moment for Apple - the tech giant became the first American company to reach a market capitalization of more than $1 trillion.
Apples stock was up 1.4% on Thursday, reaching the $1 trillion market cap around 10 am local time, Variety reports. The companys Q2 results easily beat analysts expectations and its outlook for the September quarter is good too.
#2 Cisco to buy Duo Security
Cisco, the worlds biggest networking gear manufacturer, would like to buy Duo Security for $2.35 billion in an effort to expand its cloud computing offerings, Reuters reports. Duo - a venture-capital backed cybersecurity company - has built a platform that allows users to verify their identity with a two-step authentication.
According to the same Reuters article, the deal is expected to close in the first quarter of Ciscos fiscal 2019.
#1 Seritage Growth jumps most since 2015
Good news for investment guru Warren Buffett this week. On Wednesday, Seritage Growth Properties, the real estate investment trust that spun out of Sears Holdings Corp, climbed the most in two years, Yahoo Finance reports. The REITs shares jumped 11% to $46.91, their biggest increase since December 2015.
The company first appeared on the radar of investors when Warren Buffett personally invested in it.
For our feature on Seritage Growth Properties go here
There you have it, the first week of August captured in Tweets. As always, well continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next Friday.