Brexit continues its rampage in U.K. politics and economy. Chancellor George Osborne just announced his own measure to deal with the aftermath of Brexit to help maintain the stability of the economy. It’s a good effort from Osborne, as the markets found it to be a favorable measure compared to the ECB’s plan of a summer stimulus package for the U.K. This week will also be a huge week for the London Stock Exchange and its investors who plan to vote to decide on the Deutsche Boerse deal. Without a doubt, the markets are waking up to some big news in the financial markets, which you can find on Sentifi.
1/ George Osborne: To cut corporate tax rate [1,350 messages in the last 24h]
The U.K. corporate tax rate will see a cut, to be low 15% to be exact, according to Chancellor George Osborne. It’s his attempt to cushion the Brexit blow to the investors while incentivizing them to keep investing in the post-Brexit U.K, and to build a competitive economy with the lowest corporate tax and a global focus. That’s what he wants the next leader of the U.K. to focus on in terms of building the economy. Unfortunately, the markets right now do not know when the tax cut will happen as Osborne refused to specify a time and date.
2/ LSE Group: Shareholders to support Deutsche Boerse deal [186 messages in the last 24h]
The shareholders of the London Stock Exchange will have a vote on Monday to decide on the merger deal with Deutsche Boerse. But, it seems like they have already made up their mind. They are set to support the deal to create Europe’s biggest exchange group. The £20 billion will no doubt face regulatory obstacles.
3/ Midea Group: Receives shares from Kuka’s major shareholder [113 messages in the last 24h]
German mechanical engineering group Voith, a major shareholder of Kuka, has decided to sell its 25.1% stakes to Midea for $1.34 billion, which helps the Chinese company tremendously in the takeover of Kuka. It’s a good deal for Voith got twice as much as the money it paid for the stake back in 2014. Originally, Voith wanted to use Kuka stake to expand its digital operations, and Midea doubted Voith would ever sell the stake, something Midea did not find favorable.
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