Champagne, Italy, Google: This Week's Top Trending Financial Tweets - Week 11
#7. ETFs on 5G technology
Three exchange-traded funds based on 5G technology are already performing better than the S&P 500, CNBC reports. Although the latter has gone up more than 12% this year, said ETFs have gained even more.
Despite the 5G rollout still being in its early days, several market-watchers expect an even bigger upside for these funds, according to the same CNBC article.
5G hasn't even arrived yet, but these ETFs based on the new technology are soaring https://t.co/4WA1n4C58D— CNBC (@CNBC) March 17, 2019
#6. Google’s folding phone patent
Folding phones are one of the most closely watched trends in mobile technology this year and many phone manufacturers are experimenting with them. This week, Google submitted a new patent application for a folding phone too, TechCrunch reports.
The question, however, is how serious Google is about developing a foldable since the company outsources a lot of its hardware to other device manufacturers, according to the same TechCrunch article.
Looks like Google is experimenting with folding phone too https://t.co/bsnxWGC2Gb— TechCrunch (@TechCrunch) March 16, 2019
#5. US-China internet battle
As if there wasn’t enough battleground for two of the world’s biggest superpowers, the US and China now find themselves in a battle for control over the global networks that deliver the internet, the Wall Street Journal reports.
The US may be trying to exclude Chinese company Huawei Technologies Co. from next-generation mobile networks, the latter is already embedding itself into cable systems below the ocean that carry almost all of the world’s internet data, according to the same WSJ article.
America is battling China for undersea supremacy: control of the system that carries your internet data https://t.co/DN4WBJYM4D— The Wall Street Journal (@WSJ) March 17, 2019
#4. Towards a balanced oil market?
There was news from the oil front too this week. The Saudi Arabian Energy minister, Khalid Al-Falih, said that OPEC and its allies still have a lot of work to do when it comes to restoring oil-market fundamentals, Bloomberg reports.
US inventories remain considerably higher than normal levels - with a risk of oversupply in the short term - and investors are concerned about investing due to uncertainty, Al-Falih continued, according to the same Bloomberg article.
Saudis say OPEC+ will do what's needed to keep market balanced https://t.co/18OSC1mz1q— Bloomberg (@business) March 17, 2019
#3. Champagne sales down
As a result of Brexit and the ‘yellow vests’ protests, the number of bottles of French champagne sold last year fell to its lowest level since 2004, Reuters reports. The total number of bottles sold fell by 1.8% to 302 million in 2018.
In France, sales dropped 4.2% to 147 million bottles, with for the first time in 100 years, more bottles sold abroad than in France, according to the same Reuters article.
#2. Macron under pressure again
After what has been the 18th consecutive weekend of ‘yellow vests’ protests in France, President Macron has come under renewed pressure, the Financial Times reports. Last weekend’s protests turned into riots with people smashing stores and setting fire to a restaurant in Paris.
While there were signs that Macron’s nationwide consultation in January this year had been a political success for him, the latest round of violence on Saturday has sparked a new round of criticism from his rivals, according to the same FT article.
Macron under pressure after another weekend of protests https://t.co/NRfdibipdT— Financial Times (@FT) March 17, 2019
#1. Italy’s incentive plan
Italy’s finance minister Giovanni Tria is working on a new plan of incentives that would allow the country to avoid a budget adjustment, Bloomberg reports. In a nutshell, the idea is to boost spending with new funds to encourage companies to invest, rather than to cut resources.
The new plan would also involve tax benefits for companies that are hiring and investments for small municipalities, according to the same Bloomberg article. It could already be approved in April.
Finance Minister Giovanni Tria is working on a new plan of incentives that would allow Italy to avoid a budget adjustment https://t.co/2UYi2gu5yL— Bloomberg (@business) March 17, 2019
Well, there you have it, the eleventh week of 2019 all captured in 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 Friday.