Thursday Briefing: Britain Sees Investment Despite Brexit

July 28, 2016

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

With LG Display being a supplier for Apple’s iPhone, will the future iPhone models feature flexible screens?

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

Tumblr now introduces ads, and it plans to roll out more revenue-generated features in the future.

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 speaks at a campaign event at Trump Doral golf course in Miami, Florida, U.S., July 27, 2016.  REUTERS/Carlo Allegri
Donald Trump draws criticisms for inviting Russian hackers to attack his rival Hillary Clinton.

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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