Qualcomm, SpaceX, Platinum: Top Trending Financial Tweets - Week 37
#7 The world’s largest oil producer
For the first time since 1973, the United States is the world’s biggest producer of crude oil, CNN Money reports. According to preliminary estimates published on Wednesday, America has reclaimed its throne, leaving Russia and Saudi Arabia behind.
#6 SpaceX’s first private passenger
SpaceX, the space transportation company owned by Elon Musk, says it has signed the world’s first private passenger to fly around the moon in its BFR launch vehicle, Reuters reports.
“Find out who’s flying and why on Monday, September 17” SpaceX wrote in a rather mysterious tweet.
#5 Platinum prices near decade-low
An interesting situation in the platinum mining industry. While prices are almost at a decade-low due to an oversupplied market, the biggest mining companies are barely cutting their production, Bloomberg reports.
Almost half of the South African platinum output is projected to be unprofitable but the currently weaker rand is lowering the production costs which is good news for margins and keeps the cash flowing, according to the same Bloomberg article.
Platinum prices are near their lowest in a decade, but the biggest miners are barely cutting production https://t.co/hhNtfHUruG— Bloomberg (@business) September 14, 2018
#4 Qualcomm’s $16 billion buyback
On Thursday, the American chipmaker Qualcomm Inc said it would buy back about $16 billion of its common stock. The buyback is part of its previously announced $30 billion stock repurchase plan, Yahoo Finance reports.
Qualcomm is trying to compensate investors for its $44 billion worth failed acquisition of NXP Semiconductors in July.
#3 Yellow raises largest Series A ever
Yellow, a Latin American bike - and scooter - sharing service has closed a $63 million Series A round. This is the largest amount ever for Series A financing for a startup in Latin America, TechCrunch reports.
So far, tech investment, especially from US-based firms has remained historically low in South America. According to the same TechCrunch article, however, 2017 has been a banner year for Latin American startups and 2018 has seen a boost in (international) investments: more than $600 million for the first quarter of 2018.
Brazilian startup Yellow raises $63M — the largest Series A ever for a Latin American startup https://t.co/HrWrk83uwh— TechCrunch (@TechCrunch) September 13, 2018
#2 Hyperloop’s potential to change transport forever
The way we get around is changing at a very high pace. According to CNBC, one of the technologies that could potentially change transport forever is hyperloop - a technology that uses magnetic levitation to float vehicles above a track.
One of the companies that are developing a hyperloop system is Virgin Hyperloop One. According to the company, a fully autonomous and enclosed system would produce no direct carbon emissions and could cut the travel time between Los Angeles and San Francisco to just 43 minutes.
#1 Turkey’s benchmark rate
On Thursday, the Turkish central bank raised its main rate by no less than 625 basis points, Reuters India reports. The rate hike boosted the struggling lira and is meant to ease investor concern over President Erdogan’s influence on the country’s monetary policy.
There you have it, this past week 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.