Nissan, Salesforce, the ECB: This Week's Top Trending Financial Tweets - Week 30
#7. Nissan’s job cuts
On Thursday, Nissan announced its biggest restructuring plan in a decade, cutting almost one tenth of its workforce and warning there might be factory closures, Reuters reports.
The cuts come after a collapse in Nassan’s quarterly profit and in the wake of the financial misconduct scandal involving former CEO Carlos Ghosn. The carmaker will cut at least 12 500 jobs globally by March 2023, according to the same Reuters article.
#6. S&P 500 board seats
Strictly speaking not a ‘financial Tweet’ but nevertheless one that’s worth mentioning. As of this week, there are no more S&P 500 companies with all-male boards, CNBC reports. Copart, the last company that had only men in its board, added its first female member, Diane Morefield.
This means that now 27% of all S&P board seats are taken by women.
The S&P company with the highest percentage of female members on its board is Navient, with 58.2%, according to the same CNBC article.
Women now have a seat at the table of every S&P 500 company.— Maggie Kate Fitzgerald (@mkmfitzgerald) July 25, 2019
Copart, the last company in the S&P 500 with an all-male board, added its first female member.
Now, 27% of all S&P 500 board seats are taken by women.#GirlPower https://t.co/PQEClBD7z6
#5. ECB’s interest plan
Also on Thursday, the ECB indicated that it might cut short-term interest rates again for the first time since 2016, the Wall Street Journal reports. The European Central Bank may also pick up its massive bond-buying program again in an attempt to try and protect the fragile Eurozone economy against international headwinds - a big policy shift.
ECB signals it is preparing to cut rates further below zero, its first reduction since 2016 and a policy shift to kick-start Europe's economy https://t.co/2ACUbI6ub7— The Wall Street Journal (@WSJ) July 25, 2019
#4. iSpace launches satellites into orbit
Space launch startup iSpace became the first private Chinese company to successfully launch two commercial satellites into orbit this week, TechCrunch reports.
Not only is this launch the first successful commercial mission for the rocket developed by iSpace, it also is a big milestone for the Chinese space industry.
#3. French stocks set for 12-year high
French stocks are on track to close at their highest level since 2007, thanks to stellar earnings, Bloomberg reports. The CAC 40 index went up 0.9% on Thursday as several French companies published results that exceeded expectations.
On Wednesday, the shares of luxury group LVHM in Paris rose 3.3% to a new record, lifting LVMH’s market capitalization to almost 200 billion euros.
Stellar earnings put French stocks on track to close at the highest level since 2007, capping a decade of outperformance over the euro zone https://t.co/eq6gKKOcv0— Bloomberg (@business) July 25, 2019
#2. Salesforce partners with Alibaba
American cloud-based software company Salesforce wants to gain foothold in China. In order to expand its presence over there, the company is partnering with Chinese giant Alibaba, the Financial Times reports.
Alibaba is becoming the exclusive provider of Salesforce to customers in mainland China, Hong Kong, Macau and Taiwan. Salesforce will also become the exclusive enterprise CRM product suite sold by Alibaba.
Salesforce expands Chinese presence by partnering with Alibaba https://t.co/JMWX4d0eMj— Financial Times (@FT) July 25, 2019
#1. The UK’s new prime minister
The UK has a new prime minister: Boris Johnson. As for the Brexit conundrum, Johnson has three main options: an election, a new deal, or a no-deal Brexit, Reuters reports. He also vowed to reach a new divorce deal by October 31 so that Britain can then leave the European Union.
Story, undoubtedly, to be continued…
And that’s a wrap! The 30th 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.