The crowd is still talking about Chancellor George Osborne’s decision to cut the corporate tax, praising it a good move, but criticizing that Osborne should have made that move before the referendum. Now, it may be too little too late to convince the investors they should keep investing in the U.K. On another matter related to the U.K., shareholders of the London Stock Exchange overwhelmingly voted to approve the deal with Deutsche Börse. Only time will tell if the move will actually happen, but it will take you no time to find out the most important financial stories on Sentifi.

1/ George Osborne: The crowd is buzzing about tax cut [3,078 messages in the last 24h]

Chancellor George Osborne’s move yesterday of slashing the corporate tax to below 15%. The market thinks it’s a great move to bolster the strength of the U.K. economy, and Osborne should have done it earlier, even before the referendum. The Institute of Directors recently conducted a poll with more than 1,000 senior executive regarding their post-Brexit plan. 5% said they will fire some of their staff, more than 33% will cut back investment plans, and 20% will move part of their operations out of Britain. Time will tell if Osborne’s plan will be enough to save the U.K. economy, but for now, the positivity of the crowd reception has been a nice small victory for him.

2/ LSE Group: Shareholders approve merger with Deutsche Börse [1,136 messages in the last 24h]

It’s official. 99.89% of London Stock Exchange shareholders want the group to merge with Deutsche Börse, based on a result of a vote on Monday. The $27 billion merger, which is a no-brainer accoridng to LSE shareholders, will give Deutsche Börse 54.5% of the new holding company’s capital. One of LSE shareholders who opposed the deal said the EU was merely a corpse without the U.K. Thus, the group should be looking to make deals with stock exchanges in Asia or Latin America.

3/ Deutsche Börse: Investors have to July 12 to decide on the deal [1,047 messages in the last 24h]

July 12 will be the deadline for the investors of the German exchange to accept an offer to merge with the LSE in an all-stock transaction. The new company will have headquarters in London and Frankfurt, but it will be based in Britain. Nevertheless, in light of Brexit, some Deutsche Börse investors advocated for a change in the original plan to move the company’s base to a different location in the EU.

4/ Rio Tinto: Coal investment is off the agenda [622 messages in the last 24h]

Jean-Sebastien Jacques, the newly appointed CEO, announced the exclusion of coal investment in Rio Tinto’s agenda, as he believes the company will get better price for Australian thermal coal operations than its rivals. The decision is made based on environmental and market-based reasons, as the sector hasn’t been on a good track of performance due to commodities downturn. Companies such as BHP Billition have been trying to cut back on thermal coal in recent years as well.

5/ Sainsbury: Jobs at risk due to store closure [357 messages in the last 24h]

With its joint venture with budget supermarket Netto coming to an end, Sainsbury will have to close up to nine stores which will affect 400 jobs. The company will redeploy the affected employees where possible, but not all employees are guaranteed not to lose their jobs.

6/ Central Bank of Nigeria: Lays off top Skye Bank executives over capital issues [336 messages in the last 24h]

Skye Bank is one of systematically important banks in Nigeria, thanks to the size of total sector deposits it holds. Unfortunately, it failed to hit a minimum capital adequacy rate of 10%. Thus, the Central Bank of Nigeria has decided to let go of the top executives of Skye Bank.

7/ Kuka: Another big shareholder sells stake to Midea [320 messages in the last 24h]

The third-biggest shareholder of Kuka, Friedhelm Loh, has decide to sell his shares to Midea, helping the Chinese company reach just under 50% in terms of shareholding. It is more than the 30% it had originally in its takeover deal. On top of that, Germany economy ministry spoke out it is following the negotiation very closely, purely for corporate issue.

8/ Raytheon Co: Wins a military contract [208 messages in the last 24h]

The AZ-based Missile Systems division of Raytheo has won a $291.8 million contract for missile production for the U.S. Navy, Air Force and Army, Japan, Norway and Taiwan. The company will produce a total of 660 orders, with 596 of which bing procured for the U.S. government while the rest will be for the allied customers.

9/ Midea Group: On track to Kuka takeover [206 messages in the last 24h]

After acquiring the stakes of two of the largest shareholders of Kuka, Midea now has more shares in the German company than it originally planned. The pathway to Kuka takeover has never been smoother for Midea.

10/ Nike Inc: Boris Berian and Nike seem to have made peace [179 messages in the last 24h]

Nike and the the 800-meter runner got into a legal dispute after the company accused him of breaching contract. The lawsuit was dropped last week, and Berian is now able to use Nike equipment to compete.

Cover Image: BidnessEtc

If you want to harness the wisdom and insights from the crowd to monitor your portfolio free of charge, please sign up for myMarkets.