Themes from July

Facebook lost a record $119bn in market capitalization for a single day’s trading on the 26 July 2018. The board said revenue growth would slow over H2 2018 after weaker than expected Q2 revenues.

Alphabet reported net income of $3.2bn after expensing the EU fine of $5bn. The business reported revenue growth of 26% to $32.7bn in the three months to end June 2018.

Inmarsat board is confident of maintaining their independence after rejecting a revised offer from US based EchoStar Corp.

Vedanta Resources board agreed a $10.89 per share cash offer from its majority owner Volcan Investments, the Agarwal family vehicle.

EC President Jean Claude Juncker and US President Donald Trump have agreed to work towards lowering trade barriers between the EU and the USA.

Barclays have sold down its holding in Barclays Africa to 14.9% and henceforth the former subsidiary will not be consolidated in the group accounts.

Sports Direct reported 2018 profit after tax of £27.6m from £231.7m last year after writing off £85m of losses from its Debenhams holding.

Glencore reported H1 copper output jumped 8% whilst cobalt production was up 31%.

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