Top Headlines in Business for the Past Week
Last week has been a roller coaster ride for businesses across the world. Whether it’s the news of the US-China trade deal or the major mergers and acquisitions, there’s been a lot happening in the corporate world. In this article, we’ll take a look at some of the top headlines in business for the past week.
US-China Trade Deal
US President Donald Trump announced that the US and China have reached a “historic and tremendous” Phase One trade deal. This news is great for businesses as it will see a halt in the US tariff hike on Chinese goods, which was set to take place on December 15th. The deal is said to be worth approximately $200 billion, with China agreeing to buy more American products such as agricultural goods and energy.
Mergers and Acquisitions
It was also a big week for mergers and acquisitions. The $26 billion deal between T-Mobile and Sprint was approved by a US district judge, a move that will potentially create a stronger third competitor in the wireless market. In Canada, the merger between Cenovus Energy Inc and Husky Energy Inc was announced, creating a new entity with a combined value of $23.6 billion.
New CEO of Google
Google CEO Sundar Pichai was recently appointed as the CEO of Alphabet, Google’s parent company. This move comes after Google co-founders, Larry Page and Sergey Brin, stepped down from their executive roles but remain on the board as controlling shareholders. Many are curious to see how Pichai will handle his new responsibilities, especially with the increasing scrutiny over the tech giant’s monopoly in the industry.
Tesla Cybertruck
Tesla’s Cybertruck was unveiled last week which was a highly anticipated launch. The radical-looking vehicle has been one of the buzz makers of the automotive industry, criticizing the design while others found it refreshing. Despite the mixed opinions, the Cybertruck has received over 200,000 pre-orders within the first few days of its launch, indicating a strong demand.
Closing Thoughts
While last week had its fair share of ups and downs, it is important for businesses to stay updated with the happenings around them. Keeping track of the latest developments in the industry can provide valuable insights and assist businesses in making informed decisions. As businesses continue to evolve and transform, it is essential to stay ahead of the curve. Let’s wait and see what the next week has in store for us.
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