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TECH NEWS: Trump is Apple's newest consultant, Tesla's shrinking management team ....

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09/10/2018 | 05:31pm CEST

This morning we're talking about Elon Musk again - and why not - Donald Trump again! Two personalities who communicate a lot, like Jack Ma, Alibaba's emblematic boss, who will hand over in a year's time but who will remain close to the management. Finally, everyone knows that cybercrime is a major issue. And a huge market for insurance.

Alibaba, Jack Ma is taking a step back. He will have a year to prepare his succession. The co-founder of Alibaba, China's largest online merchant, will leave the group's presidency on 10 September 2019. It will be replaced by its current Chief Executive Officer, Daniel Zhang, who will remain CEO. The one who is considered as THE Chinese self-made man will remain "close to power" by continuing to distill his advice. He will only be 55 years old on the date of his departure.

Donald Trump to become Apple's strategic advisor? The American President, in yet another tweet (he is at nearly 38,900), gave the company a tip: to avoid suffering the impact of the surcharges imposed on China, it is necessary to produce in the United States. "Start building new factories now," the executive boss recommends. A way of responding to the Californian group that contributed to the grievance book opened by the administration before the introduction of new customs barriers targeting China. "We are concerned about these customs duties because it is the United States that will be hit hardest and that it will reduce American growth and competitiveness while increasing prices for consumers," Apple wrote. No comment.


Tesla's thinning management team. The previous trading week was particularly difficult for Tesla. Shares dropped by 4.2% on Tuesday, -2.8% on Wednesday and-6.3% on Friday. The weekend was turbulent for the inescapable Elon Musk, who sipped whisky and smoked weed in front of the camera while filming a radio show. This probably didn't help, but one of the main reasons the company's shares have declined is because of the fragility of the management team : the accounting director, who had only been there for a month, resigned. The Director of Human Resources, who took time off to recharge her batteries, is not expected to come back.

Insurance against cybercrime booms. Munich Re estimates that cybersecurity could represent an insurance market of $8-9 billion in 2020, compared to $3.5-4 billion in 2017. "The economic costs of large-scale computer attacks already exceed the losses caused by natural disasters," reads the document produced by the reinsurer in Monte Carlo this weekend, which points out that the heaviest losses were caused by ransomwares and malware, mainly WannaCry and NotPetya. Cybersecurity is a major challenge in the coming years, with the increasing interconnection of machines. It is of particular concern for small structures, as shown in the following example: 


The average cost of a cyber attack in 2016. A serious threat to small structures (Source: Munich Re Presentation / Hiscox Data). 
 

 
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -0.89% 163.16 Delayed Quote.-5.38%
APPLE 1.44% 220.79 Delayed Quote.30.47%
DJ INDUSTRIAL -0.68% 26562.05 Delayed Quote.7.46%
LONDON BRENT OIL 0.92% 82.08 Delayed Quote.18.06%
NASDAQ 100 0.23% 7548.7507 Delayed Quote.17.74%
TESLA 0.19% 299.68 Delayed Quote.-3.75%

Romain Fournier
© MarketScreener.com 2018
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