Today, Home Depot, Medtronic, Alcon, Sonova, Melrose, easyJet and Julius Bär are among companies reporting their earnings.
California is suing Juul. It has become the second state after North Carolina to file a lawsuit against the e-cigarette maker, due to marketing campaigns it believes were targeted at the state's teenagers.
The New York State Attorney General has started an investigation into WeWork, according to Reuters. It will look at whether WeWork’s founder and former chief executive, Adam Neumann, was involved in self-dealing to enrich himself. The company is expected to lay off thousands of employees due to massive losses.
Tech giants under surveillance. The Federal Trade Commission (FTC) confirmed yesterday that several investigations are underway among Internet players, suggesting to experts that the investigations are larger than expected. To date, only the Facebook investigation has been formalized. The other ones, such as Amazon.com, Alphabet (Google) and Apple could also be in the spotlight, even if the apple brand generally benefits from a certain leniency.
Intelsat is no longer responding. The American regulator has decided: it is in favor of a public inquiry for the C-band, which led to the collapse of Intelsat (-40% yesterday!), in favor of a negotiated solution that would have been more financially favorable to it and weighed on SES, while Eutelsat welcomes it.
Stadia's coming in. Google is today launching Stadia, its video game platform in the cloud. The service is sold for EUR 9.99 in Europe and USD 9.99 in the United States, for two free games and a current catalogue of 22 titles, which will be quickly expanded. The service is based on a remote virtual computer. This is a test run that could create a future standard by disrupting the world of video games, especially for home console sellers. To be continued.
Marriage of reason. Aroundtown will buy back its compatriot TLG in shares, on the basis of a valuation of EUR 27.655 per share. The friendly offer offers 3.6 new Aroundtown shares for every 1 YLG contributed. The combined entity will have a portfolio valued at €25 billion, specializing in offices and hotels.
Ilva, new rumors. ArcelorMittal allegedly imposed three conditions to reverse its decision to leave the Ilva project, according to Il Messaggero: the return of the public guarantee, the right to modify its industrial projects and the possibility of eliminating 5000 jobs. Prime Minister Giuseppe Conte has cancelled an interview scheduled for this week with Lakshmi Mittal, pending the position of the Italian judiciary after the steelmaker's disengagement.
Hong Kong, open up. The listing of the Chinese group Alibaba on the Hong Kong stock exchange, a $13 billion transaction, has already been oversubscribed several times, according to information obtained by the Wall Street Journal. The order books should be closed earlier than expected as of today.
In other news. Indian steelmaker Tata Steel will cut up to 3000 jobs in Europe to reduce costs, particularly in the United Kingdom. Sony will buy AT&T's 42% minority stake in the Game Show Network television channel for $500 million. Barrick Gold sold half of the Kalgoorlie mine in Western Australia to Saracen for $750 million. Meyer burger is finalizing the sale of its software to S&T for CHF 14 million. FedEx has joined the cohort of American companies that no longer provide pension coverage to their employees: new hires will no longer be eligible from next year. American Express offers significant cash incentives to companies that want to become customers, to close the gap with Visa and Mastercard. T-Mobile US boss John Legere will hand over without giving any indication of his destination. The United States will allow major American studios to own cinemas, ending the separation between production and distribution that began in 1948.