Earnings season. VMWare, Dollar General, Lululemon, Workday, Woolworths, Flutter, Delivery Hero, Bouygues, Hal Trust, WPP, Bâloise and Rolls-Royce are among companies posting their results today.
Rising tensions. Alibaba has suspended an investment project in Indian companies against the backdrop of tensions between China and India over their Himalayan border, two sources informed of the decision told Reuters.
5-dollar test. Abbott Laboratories’ share soared after it announced that it has received approval to market a credit card-sized portable test for Covid-19 that it plans to sell for five dollars each.
Mayer throws in the towel. TikTok boss and former Disney executive Kevin Mayer resigned after the White House threatened the company, according to information obtained early this morning by the Financial Times. This information was later confirmed in a press release. "It is with a heavy heart that I announce to you that I have decided to leave the company," he wrote, explaining that the idea he had of his mission when he arrived at the helm had greatly changed with the White House injunction forcing ByteDance to cede control of American assets.
Blaming the other one. Facebook is accusing Apple of depriving applications of advertising revenue with its next update, which will limit the social networking giant's ability to target iPhone users with ads. "Under iOS 14, 'you will have to ask users for their permission to follow them on applications and websites owned by other companies'," Apple had already warned. All the details here.
Medium-term objectives. Givaudan has set its 2025 targets. The fragrance and flavor specialist expects average organic sales growth of 4% to 5% and free cash flow of approximately 12%. For the period 2016/2020, the company targets 4 to 5% organic growth and 12 to 17% free cash flow. Givaudan has renamed its two divisions "Taste & Wellbeing" and "Fragrance & Beauty".
New stakes. Delfin, the holding company of Leonardo Del Vecchio, obtained the authorization from the ECB to increase its stake in Mediobanca from the current 9.9% to just under 20%. Specialists believe that this move could lead to further consolidation of the still widely dispersed Italian financial sector. Mediobanca holds 13% of Assicurazioni Generali, of which Delfin also holds 4.8%.
In other news. The FDA has granted Abbott emergency approval for its Covid mini-est at USD 5. Volkswagen will test its autonomous vehicles in China in September. The data obtained by Moderna suggest that its candidate vaccine provides an effective immune response for people over 56 years of age, similar to the already positive data for younger people. Builders Firstsource and BMC Stock are reportedly about to merge through a share exchange, according to Dow Jones. ITV will leave the FTSE 100, replaced by B&M European Value Retail. The FDA authorizes Cassiopea to sell its acne treatment Winlevi in the United States.