Toyota Motor Corp. is the latest victim to go under scrutiny of President-elect Donald Trump. As of this writing, close to 8,500 voices in Sentifi financial market are discussing this matter, so join the conversation, engage, and learn the insights from the market.
Toyota Motor Corp.: Shares fall after getting criticized by Trump
Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax.
— Donald J. Trump (@realDonaldTrump) January 5, 2017
As the Japanese carmaker gets ready to expand in Mexico, a tweet from Donald Trump has inflicted damage on the company’s stock, criticizing its plan. Trump said the company has to build a plant in the U.S., or it will have to pay big border tax. The plant is to build Corolla cars for the U.S. market. The company’s shares dropped approximately 2 percent immediately following the tweet, and since then have recovered most of the loss.
Stanley Black & Decker: Acquires Craftsman from Sears
As Sears continues its strategy of closing stores to survive, it has agreed to sell Craftsman to Stanley for $900 million. Stanley hopes to expand the availability of Craftsman products, which were previously only available at Sears and a limited number of other retailers such as Kmart and Ace Hardware. The company also aims to bring Craftsman to big-box stores and launches into e-commerce.
Persimmon: Registers an increase in both revenues and home completions
Since the opening of its new regional base in Perth, Scotland, the company has seen a positivity in its performance. Revenues for 2016 increased 8 percent year over year, and legal completion volumes jumped by 599 new homes to 15,171, compare to last year’s number of 14,572. During 2016, it acquired 18,700 plots of new land in 83 locations, which it is hoping will provide the necessary momentum for more success in 2017.
Air India: Probed for alleged scam
The Supreme Court of India has ordered India’s Central Bureau of Investigation to complete the investigation into Air India and its alleged 70,000 crore rupees (approximately $10.5 billion) scam in the purchase and leasing of 111 aircrafts. The suspicious activity took place in 2005-2006.
Xiaomi: Remains tight-lipped on bringing products to the U.S.
The Chinese wowed the market with an attractive phone under the name of Mi Mix, with razor-thin bezel and unique call technology. But when asked if the company had any plan to bring the phone stateside, the company was reluctant to share information. Gloval VP of the company Hugo Barra said: “We don’t have any specific-enough plans yet that we’re comfortable talking about yet.” The competition among Chinese phone markers in the U.S. market is quite fierce, with Huawei, ZTE and OnePlus fighting for sales.
Bank of Portugal: Receives an offer for Novo Banco
The central bank of Portugal announced it’s received an offer from U.S. private equity firm Lone Star for Novo Banco, a bank that was salvaged by the Portuguese government from the collapse of major lender Banco Espirito Santo. The central bank said it has invited the firm to negotiate, while providing information that rival bidders also expressed a willingness to improve their offers.
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