Earnings season. Microsoft, Tesla, Thermo Fisher, Iberdrola, Christian Dior, ABB Ltd, Biogen, Fortinet, Antofagasta, Ingenico and Ubisoft are among companies due to report their results today.
Heavy demands. The Milan public prosecutor's office has requested eight years in prison against the managing director of Eni SpA, Claudio Descalzi, in a trial on suspicion of corruption in a contract in Nigeria. The indictment mentions that the Italian company and its ally Shell acquired an oil field in 2011 with the full knowledge that most of the $1.3 billion contract would be paid in bribes to politicians and intermediaries. The date of the judgement is not yet known.
The B737 MAX is still waiting. The FAA will welcome public comment on the B737 MAX, one more step toward the return to operation of Boeing's single-aisle aircraft. Certification flights are now complete. The public will have 45 days from the publication of the notice to comment. There is still a long way to go before the aircraft is back in flight. The FAA did not want to give any indication of an exact date, but insistent rumors within the American administration suggest that the aircraft will not fly again before 2021.
Perimeter reduction. Nestlé has confirmed information from CNN that it is evaluating its options for its Chinese local mineral waters, which could be sold. Last June, the company had announced its intention to divest certain brands of water in the USA.
Apple is aiming for carbon neutrality. The Californian group announced yesterday that it will give itself 10 years to achieve carbon neutrality, i.e. until 2030. Apple aims to reduce its emissions by 75% and to find solutions to eliminate carbon for the balance.
To be marked with a white stone. July 22 is an important is an important date for Elon Musk, as he becomes eligible for $2.1bn in variable compensation thanks to Tesla's stock market performance. Despite its decline on the previous day, the manufacturer had an average capitalization of $150 billion for six months, which were the conditions for releasing the second of the twelve conditional tranches that Musk benefits from.
On the corporate earnings side. United Airlines lost $2.6 billion in the second quarter. Snap is disappointing with its results and lost 4% in the quarter. Texas Instruments is targeting higher than expected revenues in the third quarter. Despite lower results, ABB Ltd. exceeded expectations in the second quarter.
In other news. Nissan could postpone the closure of its Barcelona plant by six months to June 2021 if work resumes at the site. Japan approves dexamethasone, notably produced by Nichi-Iko, as a treatment for Covid-19. Wirecard hired Alix Partners for a forensic study on what the employees and managers of the financial embezzlement group knew or did not know. The European recovery plan could encourage the start of a movement of consolidation among the banks of the euro zone, according to the president of Banco Santander, Ana Botin. Toyota expects production at its 15 Japanese plants to return to near-normal levels in August.