The most important news from last week 16.5.2022
Gazprom cuts gas supply
Russia’s biggest gas company, Gazprom, announced that they are reducing the capacity of gas transit through Ukraine, which was going via Sudzha entry point. On 13th of May, the announced quantity of natural gas is 60,8 million cubic metres, which is a lot less from the previously announced 65,7 million cubic metres. The operator, which is run by state, said that Gazprom has booked the capacity of 53,45 million cubic metres for Thursday.
Mercedes-Benz recalled 292 thousand U.S. vehicles
Mercedes-Benz USA said on Thursday that it recalls 292,000 ML, GL, and R-Class cars from the 2006 to 2012 model years due to brake difficulties, adding that owners should immediately cease driving. The German carmaker is issuing a voluntary "do not drive" recall due to possibly corroded brake boosters, which might drastically impair braking capabilities and increase the danger of a crash. According to Mercedes-Benz USA, there have been no collisions or deaths because of the problem.
Philip Morris wants to buy Swedish Match
Philip Morris International's 16 billion USD deal for smaller rival Swedish Match demonstrates the cigarette industry's desire to explore new and perhaps less destructive alternatives as regulatory and health worries traditional smokers. Philip Morris agreed to purchase Swedish Match, one of the world's largest suppliers of oral nicotine products. These include Snus, a sucked tobacco product that the company claims is less dangerous than smoking, and nicotine pouches.
Moderna completes FDA submission
Moderna Inc said on Wednesday that it has submitted all requisite filings to the US Food and Drug Administration for emergency use authorisation of its COVID-19 vaccine in adolescents and children. The business is seeking permission for its vaccinations to be used in three unique age groups: teenagers aged 12 to 17 years, children aged six to eleven years, and those aged between six years and six months. Submissions for all three categories were due on May 9.
Saudi Aramco surpassed Apple
Apple is no longer the most valuable company in the world, as Saudi Aramco surpassed them on Wednesday. Saudi Aramco’s market valuation was a little under 2,43 trillion dollars, which means that the market capitalization was bigger than Apple’s. Apple fell for more than 5%, which means that their valuation is now at 2,37 trillion dollars. * Saudi Aramco is not the only energy stock rising, as investors are selling from other sectors and putting money into energy.
Movement of Apple in five years period. (Source: Trading Economics) *
Sources: CNBC, Reuters, Yahoo Finance, Trading Economics
* Past performance is no guarantee for future results.
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