Themes from August
Apple Corp valuation sailed through the $1trn of market capitalization ending the month at $1.07trn a first for a US public company.
Turkey cut withholding tax on Lira deposits helping the Lira to rally to 6.58/ USD. The central bank is trying to stabilize the lira which has lost 42% in 2018.
US & Mexico reached a deal to revamp NAFTA which added a requirement that 40%-45% of content be made by workers earning at least $16 per hour. It will require US Congressional approval early in 2019.
Whitbread has agreed to sell Costa Coffee to Coca Cola for £3.9bn with the majority of its net £3.8bn proceeds to be returned to shareholders. The exit price is worth c. 2069p per Whitbread share.
Sage Group CEO Stephen Kelly is stepping down after four years at the helm of Sage.
Saudi Aramco has ditched plans for an IPO as investors baulked at the suggested $2trn valuation and the perception of weak corporate governance.
Vodafone is to merge its Vodafone Australia operation with TPG Telecom to counter competitive market conditions and falling revenues.
Elon Musk abandoned a plan to take Tesla Motors private, one week after tweeting he had “secured funding” for a takeover deal at $420 per share.
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