Samsung, India, the IMF: This Week's Top Trending Financial Tweets - Week 27
#7. Strong US job growth
On Friday, there were good results coming form the US. The country's nonfarm payrolls jumped to 224 000 in June, well above the market expectations of 165 000, CNBC reports. Unemployment rose a little bit, to 3.7%, but is still hovering around 50-year lows.
Markets still expect the US central bank to cut its interest rates later this month, despite the latest payroll report.
US nonfarm payrolls total 224,000 in June, vs 165,000 jobs expected https://t.co/TPUGuscdQu— CNBC (@CNBC) July 5, 2019
#6. High-tech growers boost production
Vertical farms, filled with plants from floor to ceiling, are increasing their production to meet the growing demand, Reuters reports.
The newest farm from vertical farm company Plenty, for example, will be able to supply over a hundred grocery stores, against only three stores and a couple of restaurants with its previous farm.
Vertical farm Plenty, stacked with plants from floor to ceiling, tells @Reuters they are boosting production to a level where they can now supply hundreds of grocery stores. https://t.co/jd0xPryp1a pic.twitter.com/1y2tI0HCvi— Reuters Top News (@Reuters) July 5, 2019
#5. India’s plastic clean-up
India’s new, strict rules to battle its plastic trash problem demand from consumer-goods companies such as Nestlé that they get actively involved, the Wall Street Journal reports.
As plastic waste generated by the average Indian went up 69% between 2015 and 2018, this means there is a lot of cleaning up to do…
Consumer companies have enjoyed rapid growth with single-serve plastic packaging in India. Now, the government wants them to tackle the litter problems that come with it. https://t.co/Owz2ZoDf40— The Wall Street Journal (@WSJ) July 5, 2019
#4. The next head of the IMF
Who is going to replace Christine Lagarde as she stops as managing director of the IMF? European governments are thinking of Mark Carney, the current Governor of the Bank of England, Bloomberg reports.
Carney is Canadian by birth, but has both a British and an Irish passport and he has governed the central banks of the UK and Canada - which makes him a hard candidate to beat.
European governments are actively discussing nominating Bank of England Governor Mark Carney as the next head of the IMF— Simon Kennedy (@simonjkennedy) July 5, 2019
EU finance chiefs may even settle on a nominee at a meeting next week https://t.co/Za4f1APaYU via @economics
#3. How China sorts its waste
In its efforts to tackle the plastic problem, India could perhaps take a look at China for ideas. China, also in a war on garbage, uses tech to sort its waste, TechCrunch reports. Think, for example, of QR codes that are attached to trash bags and that allow the municipal governments to trace exactly where the rubbish comes from.
To help confused citizens, China’s tech startups and large internet companies developed new features to help people identify what wastes are for example ‘wet’, ‘dry’, ‘toxic, or ‘recyclable’.
#2. Samsung’s earnings expectations
On Friday, Samsung announced that it expects a 4.2% decline in revenue and a decline of over 50% in profits for the second quarter, Yahoo Finance reports.
Analysts believe this is due to a lower demand for chips and some think it’s another sign that the market for smartphones is reaching maturity.
Highlight: "Samsung is expecting a 4.2% decline in revenue and a more than 50% decline in profits for the second quarter," @scottgamm reports. "Analysts say weakening demand for chips are to blame. ... This is just another sign of the maturing smartphone market." pic.twitter.com/Uu02RPDMuO— Yahoo Finance (@YahooFinance) July 5, 2019
#1. Amazon and Deliveroo
In May, Amazon has led a $575 million fund-raising in Deliveroo, something both parties call a ‘minority’ investment. Te UK’s competition regulator, however, has put a (temporary) stop on Amazon’s investment, Reuters reports.
The regulator said it has grounds to suspect that both companies had ‘ceased to be distinct’ and ordered them to operate independently for now. The investment in Deliveroo is Amazon’s most recent attempt to enter the takeaway delivery market which is worth around $100 billion globally, according to the same Reuters article.
Well, there you have it, the 27th 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 week.