Daily Briefing Oct 28, 2016

ZTO Express Debuts Below IPO Prices

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Chinese package delivery company ZTO Express has made it public debut on the NYSE. And it snatched the title of the biggest IPO in the U.S. this year. To know how its IPO performs, stick with Sentifi.

sentifi top attentions october 28

ZTO Express: Stock debuts below its IPO price

Despite raising $1.4 billion in its IPO, the company’s stock was traded at $18.40 when the market opened, 5.6 percent below the $19.50 IPO price. The decline then extended as the stock fell to $17.89. Fortunately, that didn’t stop the investors to cash in on China’s booming online-shopping industry. The company plans to use $720 million of its IPO proceeds to invest in more trucks, land, facilities and equipment.

Baker Hughes Inc.: Is in talks with General Electric Co. for a possible deal

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And it’s merely a partnership, not an acquisition, according to GE, but that doesn’t stop the crowd from speculating about GE’s largest acquisition ever if it decided to buy Baker Hughes. The deal could be worth about $30 billion according to estimates from analysts and Wall Street.

Eurowings: 400 of 550 scheduled flights were cancelled due to strike

The impact of the 24-hour strike from the cabin crew was more severe than previously thought, as 400 flights were cancelled and about 40,000 passengers were affected. The airline was reported to offer an average pay increase of 7 percent to the union UFO, but the union said it never received such offer. The strike was a direct result of the collapse of the talks between the two parties early this week.

Tata Group: Sees a drop in shares of various Tata group stocks

It was due to reports about ousted Group Chairman Cyrus Mistry listing out possible write-down risk to the tune of $18 billion and the concerns over sudden ouster of Mistry. He said he was pushed into a position of “lame duck” chairman. He also warned that the group may face writedowns because of five unprofitable businesses he inherited.

Nissan Motor: Will be shielded from Brexit costs

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The Japanese carmaker has agreed to keep investing in the U.K. after the Ministers were “forced” to give a last-minute written promise to protect the carmaker from the consequences of Brexit. Nissan will not have to pay any trade taxes charged by an EU member state.

Qualcomm Agrees to buy NXP Semiconductors NV for $47 billion

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Qualcomm is expecting the combined company to make over $30 million in yearly revenue, and is getting additional expertise in security, identity and automotive processor components. This deal will help Qualcomm continue to be a key player in the chip industry while securing a place in the autonomous vehicles and digital security areas.

Heathrow Airport: Will affect the values of the houses in close areas

The values of the houses in the areas affected by the increasing noise and air pollution will drop by 20 percent. Heathrow Airport Holdings will buy 750 homes on the site of the planned runway, and offer another 3,750 homeowners in the area the option of selling their properties. The company will offer the households the market value of the property plus an additional 25 percent.

Nordea Bank: Insists on acquiring ABN Amro

ABN’s biggest shareholders has rejected Nordea’s offer, but Nordea’s chairman insists a merger of the two would make a fine bank, and that he loves to continue the talks in 2017. Both banks dominate the private banking and are strong in investment banking in their home markets. If they decide to tie up, it would be the biggest merger in European banking thus far.

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