Profitloss Centerstage Events

China, allowing its currency to reach its lowest level since 2008, took center stage on Monday, 5 August 2019 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 1

The Indian government's decision to revoke Jammu and Kashmir's special...

The Indian government's decision to revoke Jammu and Kashmir's special status marks a significant shift in the region's political landscape. By bifurcating the state into two union territories, the government intends to exert more administrative control. The deployment of additional troops, restrictions on public gatherings and tourism, and the closure of schools reflect the government's efforts to maintain security and manage the situation. The long-term implications of these measures remain uncertain.

Monday, 5 August, 2019

Mastercard announces its agreement to acquire the majority of Nets...

Mastercard announces its agreement to acquire the majority of Nets A/S's corporate-services businesses for €2.85 billion ($3.19 billion). This move reflects Mastercard's focus on the growing real-time payments market and its strategy to diversify its payment capabilities beyond card solutions. By expanding into account-to-account payments and targeting cash and check-based transactions between businesses, Mastercard aims to remain competitive in the evolving payment landscape and tap into the vast market of company payments. The acquisition follows previous strategic purchases, including Vocalink and Vyze, to bolster Mastercard's real-time payment capabilities and explore new payment technologies.

Tuesday, 6 August, 2019

Broadcom has announced its acquisition of Symantec's enterprise business for...

Broadcom has announced its acquisition of Symantec's enterprise business for $10.7 billion in cash. After the announcement, Broadcom stock rose 1% in after-hours trading, while Symantec shares halted and later increased by up to 5%. The deal is expected to generate over $1 billion in cost synergies within a year of closing, including eliminating redundancies.

Wednesday, 7 August, 2019

The IMF contradicts the Trump administration's accusation that China manipulates...

The IMF contradicts the Trump administration's accusation that China manipulates its currency. The IMF report states that the yuan has been stable, suggesting minimal intervention by China's central bank. The ongoing trade war and market pressures have naturally influenced the yuan's depreciation.

Thursday, 8 August, 2019

Huntsman Corporation announces a definitive agreement to sell its chemical...

Huntsman Corporation announces a definitive agreement to sell its chemical intermediates and surfactants businesses to Indorama Ventures for $2.076 billion. This move aligns with Huntsman's strategy to focus on downstream and specialty businesses, enhancing its ability to generate stable margins and cash flow. The deal is expected to be finalized by the end of 2019, subject to regulatory approvals.

Friday, 9 August, 2019

Conservative candidate Alejandro Giammattei wins the presidential election in Guatemala...

Conservative candidate Alejandro Giammattei wins the presidential election in Guatemala and is set to take office in January 2020. Giammattei, a former director of the Guatemalan penitentiary system, has previously participated in presidential elections. His victory marks a significant political change in the country's leadership.

Saturday, 10 August, 2019

Verizon agrees to sell Tumblr to Automattic, owner of WordPress.com,...

Verizon agrees to sell Tumblr to Automattic, owner of WordPress.com, for less than $10 million, significantly less than its 2013 acquisition price of $1.1 billion. This move reflects Verizon's decision to divest itself of Tumblr after facing challenges in monetizing the social networking site.

Sunday, 11 August, 2019