Netflix, NYSE, Starbucks: Top Trending Financial Tweets - Week 21
#8 Italian bonds under pressure
Fears of the populist coalition partners making it into the new government led to a big sell-off in Italy’s bonds (the so-called BTPs). Both the Five Star and League party are known to be fairly skeptical towards the European Union and have plans for drastic changes if they were to govern.
As a result of this ‘Euro-panic’, the yield on the 10-year bonds went up to 2.259% from 1.894% the week before, according to an FT article.
Related: US Treasury Bonds: Mechanics and Background.
Italian bonds still under heavy pressure as spending plans of two anti-establishment parties likely to make up Italy's next government rattle investors. Italian/German spread had biggest weekly blowout last week in 5 years, already out another 7 bps today. pic.twitter.com/KV8hRt3Ago— Jamie McGeever (@ReutersJamie) May 21, 2018
#7 Microsoft acquires AI startup
An artificial intelligence (AI) acquisition for Microsoft this week. TechCrunch reports that the American tech giant announced it had bought the AI startup Semantic Machines to help them make chatbots sound more human.
#6 NYSE’s first female president
Stacey Cunningham is going to be the first woman president of the New York Stock Exchange. For the first time in the 226-year old history of the exchange the institution will have a female president.
Cunningham officially takes over her new role as 67th president of NYSE on Friday and as such, she joins another woman - Adena Friedman from Nasdaq. This means that two out of the three biggest and probably most known exchanges will be led by women.
#5 The Obama’s start Netflixing
A rather interesting announcement by Netflix this week. It turns out the former president of the United States Barack Obama and his wife, former first lady Michelle Obama, have made a deal with Netflix.
According to Netflix, the Obama’s will start producing “a diverse mix of content, including the potential for scripted series, unscripted series, docu-series, documentaries, and features” the Verge reports.
#4 Starbucks’s top ranking
In the US, Starbucks does more than just coffee. Mobile payments for example. In fact, its payment app has more users than the Apple or Google version.
According to an article by Recode, 25% of US smartphone users (55 million people) older than 14 will make an in-store mobile payment by the end of this year. The good news for Starbucks is, more than 40% of these people will do so through Starbucks’s mobile payments app.
A Tweet from Bloomberg this week reveals a rather peculiar fact about coffee husk - the outer layer of the coffee bean that usually gets discarded during the roasting process.
Starbucks recently introduced new products using coffee husk - also known as cascara. In the US and Canada, customers can now have their drinks sweetened with cascara syrup for example.
The crazy part about all of this?
The fact that the coffee husk currently often sells at a higher price than the actual coffee bean! Due to a big jump in the demand for coffee husk by Starbucks - and other big coffee chains - and an oversupply of arabica beans.
#2 Deutsche Bank cuts
Times are less cheerful at Deutsche Bank. On Thursday, Germany’s biggest bank announced that it’s going to cut more than 7000 jobs, CNN Money reports.
The announcement comes in another effort by Deutsche to turn around its business after a several-year-long streak of losses, according to the same CNN Money article.
CEO John Cryan was the first to (be let) go last month. He was replaced by Christian Sewing who now has the ungrateful task of making the bank profitable again.
#1 Netflix overtakes Disney
Perhaps it was the positive aftermath of the Obama announcement earlier in the week, but on Thursday Netflix took over Disney’s spot and became the world’s biggest media stock in terms of market value.
Bloomberg reports that Netflix shares went up 2% to $351.48 and the company’s market cap reached $152 billion, therefore, exceeding that of Disney.
Alright, that’s this week's round-up all done. Of course, we’ll keep on top of the latest Tweets and we’ll continue to bring you the most trending financial micro-messages from the web. See you back here next Friday.