Monday Briefing: Finance, Tech, GE Co and Brexit

Start your week with this morning bit of news to keep you updated on today’s highlights.

The US-China trade talks will continue to evolve, as last night, President Donald Trump stated that the US will delay the increase in tariffs for 1 March. On Tuesday, Federal Reserve Chair Jerome Powell will update the Senate Banking Committee about the economy and monetary policy.

In the Tech news, Huawei’s 5G network took over the Mobile World Congress (MWC) at Barcelona. Meanwhile, the global industry leaders prepared for an emergency meeting to find a way and exclude the Chinese telecommunications equipment maker from the European markets.

Warren Buffett warns businessmen in his annual letter not to fear the doom preached by the government budget deficits, stating that we should not be afraid of investing, but heed the warnings from our history and remember that all calamities will again become history:

To ‘protect’ yourself, you might have eschewed stocks and opted instead to buy [3.25] ounces of gold with your $114.75.

[…] You would now have an asset worth about $4,200, less than 1% of what would have been realized from a simple unmanaged investment in American business. The magical metal was no match for the American mettle.

Goldman Sachs Group Inc. and JPMorgan Chase & Co. will lead the initial public offering of Peloton Interactive Inc., according to Bloomberg, who’s not yet familiar with the details since the details are not public at the moment. Nonetheless, this decision could value the startup at over $8 billion.

Theresa May’s decision of delaying the parliamentary vote for Brexit has made the pound volatile this morning. We should expect a deal this week, but the UK Prime Minister also added that she’s not sure they will reach a deal this fast.

Reuters reported that Danaher Corp has just bought the biopharma business from General Electric Co for $21.4 billion, which is a huge asset sale since the news of breaking up the conglomerate last summer. Chief Executive Officer Lawrence Culp stated the following:

A more focused portfolio is the right structure for GE, and we have many options for maximizing shareholder value along the way.

Check back here for the next Monday briefing.

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About the Author: Randy Smith

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