Britain seems to have weather the post-Brexit storm. The FTSE 250 has almost recovered all of its Brexit loss, and Britain’s largest drugs company has decided to stay committed with the country via a £275 investment to expand its U.K. manufacturing sites that will create jobs. You can monitor the development of this story, and others, along with the crowd sentiment on Sentifi.
1/ GlaxoSmithKline Pharma: Invests in post-Brexit Britain
Brexit fears have increasingly become a thing of the past as investments and acquisitions in Britain have started to emerge. GlaxoSmithKline is the latest company to grab the headline with its £275 investment in Britain. The company cites Britain being an attractive location for business with a skilled workforce and a competitive tax system which undermine Brexit fears and validate the investment.
2/ LG Display: Invests in flexible display
LG Display announced a $1.75 billion investment in producing flexible displays for smartphones. Interestingly enough, LG Display is a supplier of Apple’s iPhone screen, suggesting that the future iPhones may be equipped with a flexible screen. The company said the flexible display production will start in late 2018 and supply enough 5.7-inch flexible screens for 3 million handsets per month.
3/ Network Rail: At risk of a labor strike
The ongoing tension between rail operator Southern and union RMT, coupled with a dispute over out-of-hours payments, has sparked discussions among Network Rail engineers regarding the possibility of a strike. The engineers mark August 2-15 as possible dates for a strike.
4/ LogMeIn Inc: Shares skyrocketed thanks to merger
The company’s shares soared 20% following the announcement of its $1.8 billion merger with the GoTo unit of Citrix System. On the other hand, Citrix shares dropped 1.5%. The combined company will have more than two million customers and is expected to generate greater than $1 billion in annual revenues.
5/ Tumblr: Introduces ads
The blogging site announced a new advertising program which will implement ads across users’ blogs. It will provide an opt-out option for those who don’t want ads on their blogs. The company’s fate is still up in the air as it is unclear how it will fit in Verizon’s ad strategy.
6/ Groupon: Earnings are better than expected
The Chicago-based deal site posted second-quarter revenue of $756 million, better than Wall Street expectations, and a net loss of $6.8 million. Costs associated with company restructuring is the prime reason why the company is yet to be profitable.
7/ Marissa Mayer: Gets a higher severance pay
When Verizon announced its deal for Yahoo’s core business, it also revealed that Mayer could take home as much as $55 million. It has now been cleared up that it’s only a gross underestimation. It’s now revealed that she may get $122,578,795 is she leaves Yahoo.
8/ Cyber Attack: Trump invites more Russian cyber attack
Republican presidential nominee Donald Trump has invited the Russian hackers to conduct more hacks into his opponent Hillary Clinton, a gesture that incited criticism from his fellow GOP figures.
9/ Uranium: Canada agrees to freeze uranium project
The Canadian government has agreed to freeze the Kiggavik uranium project for the time being based on the 2015 recommendation by the Nunavut Impact Review Board.
10/ Alere Inc: Probed by the Justice Department
The U.S. Department of Justice has sent Alere a subpoena regarding patient-billing records of Medicare, Medicaid and Tricare, causing the company’s shares to drop 28.6%.
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