AB Inbev, Gen Z, Amazon: This Week’s Top Trending Financial Tweets - Week 28
#7. Africa’s big trade bloc
On Sunday, no less than 54 African nations met to work out an agreement on a pan-continental free trade zone, CNBC reports.
The deal could potentially unite 1.3 billion people, create a $3.4 trillion economic bloc and boost trade within the African continent. The African Continental Free Trade Area (AfCFTA) is considered to be the largest free trade zone in the world since the World Trade Organization in 1994, according to the same CNBC article.
Correction: What you should know about Africa's massive, 54-country trade bloc. https://t.co/Zbp7RIcHtZ— CNBC (@CNBC) July 11, 2019
#6. Gen Z blows up men’s makeup market
Generation Z - those born somewhere between 1996 and 2010 - turns out to be good for the makeup industry - the men’s makeup market to be exact.
Companies are targeting younger males who grew up with less rigid gender boundaries, Bloomberg reports. This is a trend that big cosmetics companies expect to keep growing and eventually even catch on among older generations.
The estimated value of the global men’s makeup market in 2019 is $1.14 billion (against $71 billion of total cosmetics sales).
The estimated value of the global men’s makeup market in 2019: $1.14 billion https://t.co/McyOG9mHHa— Alexis Benveniste (@apbenven) July 11, 2019
#5. Amazon retrains a third of its US workforce
On Thursday, Amazon announced its plans to invest $700 million to retrain a third of its workers across the US, TechCrunch reports. The idea is for Amazon employees to move into skilled technical and non-technical roles across the organization.
With the job market being mostly candidate-driven and many companies digitalizing (parts of) their processes, there is a real need to retrain and upskill existing employees. As a result, investments in employee training and development (tools) are increasing.
#4. AB Inbev’s Asian IPO
The Asian Unit of AB Inbev - the world’s biggest beer brewer - is going to make it’s stock-market debut this year. And expectations are high; the initial public offering is expected to be even bigger than Uber’s IPO.
On Thursday, Inbev’s Asian unit told investors to expect its $8.3 billion-plus IPO to price in the lower half of a previously indicated range, the Wall Street Journal reports. The listing is meant to help the Asian unit pursue regional deals and help parent AB Inbev to cut its huge debt, the WSJ article continues.
The Asian unit of Budweiser's parent company guided investors to expect its IPO to price in the lower half of a previously indicated range. It would still be the world's largest stock-market debut this year, eclipsing Uber. https://t.co/onG3urzY6S— The Wall Street Journal (@WSJ) July 11, 2019
#3. US oil comes to the Ukraine
More developments on the oil front this week. The Ukraine received its first ever barrels from the United States and has turned into a significant consumer of US oil, Reuters reports. Unsurprisingly, this comes at the expense of Russian supplies.
#2. Chinese, Iranian and Venezuelan blockchain efforts
Cryptocurrencies are being adopted with increasing speed and governments in Russia, China, Iran and Venezuela are experimenting with the technology behind crypto (in other words: blockchain) in an effort to counter the financial power of the US and to help bypass sanctions, Yahoo Finance reports.
#1. China’s Q2 GDP growth
China’s second quarter GDP growth is expected to have slowed down to 6.2% between April and June, Reuters reports. The company held a poll among analysts that was published on Wednesday.
If China’s economic growth indeed turns out to be 6.2%, this would be the weakest growth in almost 30 years. The Chinese government will publish the country’s Q2 GDP data on Monday.
Well, there you have it, the 28th week of 2019 captured in 7 Tweets. As always, we’ll continue to track Twitter and bring you the top financial micro-messages from the web. See you back here next week.