The most important news from last week
Porsche decided for the IPO
A representative for Deutsche Bank announced that the retail offering of Porsche's planned listing has been assigned to the bank. Volkswagen intends to offer preferred shares to the public in Germany, Austria, France, Italy, Spain, and Switzerland as part of its initial public offering, in addition to offerings to institutional investors. The date for the IPO is not set yet, however it is expected that it will take place in the end of September or beginning of October.
U.S. covid vaccine market value could increase
The annual United States covid vaccine market may be worth 5.2 billion USD to 12.9 billion USD in the near future, according to Moderna Inc's chief commercial office. Speaking at Moderna's annual research and development event, Arpa Garay stated that the range was based on pricing assumptions of 64 USD to 100 USD per shot. The low end of the budget also implies that just the high-risk population in the United States - around 82 million people - would be eligible for boosters.
Apple presented iPhone 14 and adventure watch
With the exception of a new adventure-focused watch, Apple avoided price increases on its best-selling iPhones during its biggest product launch of the year on Wednesday, focusing on safety upgrades rather than flashy new technical specs. To add allure to its products, Apple has safety features such as the capacity to detect a traffic accident and call a rescue from a hilltop. Apple has positioned itself as a brand that allows customers to pursue excitement and adventure while still providing a safety net.
Movement of Apple stocks in the last five years. (Source: Trading Economics) *
UPS will hire 100,000 seasonal workers for the holidays
United Parcel Service announced that it will add more than 100,000 holiday workers in 2022, like it did last year, to handle with an increase in package volume. The majority of the job postings are for full-time and part-time drivers and package handlers. Each year, UPS, and competitor FedEx recruit thousands of temporary workers to transport more items between October and January. This year, they confront the extra challenge of a tight labour market, but worker supply appears to be improving.
ECB raised interest rates
The Governing Council resolved to boost the three major European Central Bank interest rates by 75 basis points. As a result, the interest rate on the primary refinancing operations, as well as the interest rates on the marginal lending facility and the deposit facility, will be raised to 1.25%, 1.50%, and 0.75%, effective 14th of September 2022. The two-tier structure for compensation of excess reserves is no longer required as the deposit facility rate has been raised above zero.
*Past performance is no guarantee of future results.
Sources: CNBC, Investing, Trading Economics, ECB Europa
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