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Global economic releases  May 27

Global economic releases today. … Jargon, Comments, About. Search: Current Forex Market Session Click a city for session articles. London · New York · Sydney · Tokyo. GMT. RSS · Twitter · Facebook Google ·May 27, 2018

For a moment, Netflix was worth more than Disney

Will  Netflix rule the media world ?

Its market value soared above $153 billion, overtaking Disney as the most valuable media company. Netflix (NFLX) shares were up Thursday even as Disney (DIS), Comcast (CMCSA) and the broader market fell. But Disney regained the crown by the close after Netflix shares pared their gains, taking the streaming company’s market cap below $152 billion.

Netflix is still in second place ahead of Comcast, which it passed Wednesday. The cable giant is now valued at about $145.5 billion. Netflix has added millions of subscribers around the globe for the past few years. The company’s success demonstrates that its bet on original content — shows like “Stranger Things,” “Orange is the New Black, “The Crown” and “13 Reasons Why” — has paid off.

https://www.cnn.com/

Deutsche Bank mulls cutting 10,000 staff globally

City jobs in firing line

The City is braced for swingeing cuts at Deutsche Bank as the beleaguered banking giant considers cutting 10,000 jobs globally, equivalent to one in 10 of its staff, according to reports.

It is understood the redundancies will be focused in the German lender’s investment bank, which employs more than 8,000 people in the UK.

Globally the unit employs 40,000 of the lender’s total 97,000 workforce.

https://www.telegraph.co.ukcom/

Mark Zuckerberg ripped by European Parliament for dodging questions

Mark Zuckerberg’s big European test did not go well

The Facebook (FB) CEO apologized for the company’s mistakes but angered European lawmakers by dodging their questions. Zuckerberg was questioned on Tuesday by political leaders and lawmakers at the European Parliament in Brussels for about 80 minutes.

His replies left them mostly frustrated. They used the last few minutes of the meeting to complain and accused him of giving general answers. “I asked you six yes and no questions,” Philippe Lamberts, a Green party politician, said. “I got not a single answer.”

https://www.cnn.com/

The Flow, the new business culture?

Freedom, Mastery, Ownership

Video games are evil creatures that will rot your brain. Unless, of course, you’re like pro-gamer Callum Negus-Fancey and build an entire event marketing business out of what attracts you to them.  What Negus-Fancey was really after through up to 15 hours of play a day, he discovered, was the sense of flow gaming brought to him. Great games allowed him to lose a sense of time and simply focus. So his next question then became, what are the specific dynamics that create flow and foster motivation during gaming, and could those serve as the foundation for a spectacular business culture?

Negus-Fancey came up with 3 key elements that relate to flow. He’s made them the centerpiece of culture at Verve, the company he co-founded with his brother, Liam, in 2013. The business, which has approximately 150 employees and $35M in venture funding to date, helps develop brands by rewarding individuals for word-of-mouth advertising.

https://www.inc.com/

The US offshore wind industry is about to take off

8 States have approved plans to build wind farms

There are only five wind turbines operating in U.S. waters today. But that will likely soon change, partly because of states with ambitious offshore wind targets.

Massachusetts, for example, is about to pick one of the three bids it got from companies vying to build one of the nation’s first commercial-scale offshore wind farms. Equipped with the capacity to generate enough electricity to power as many as 150,000 homes, the turbines located about 20 miles southwest of Martha’s Vineyard would be among several big offshore wind projects that could transform the grid.

https://www.businessinsider.com/

US and China to reach an agreement at trade talks

Package of  $200 billion

It will be very challenging for the U.S. and China to come to an agreement about trade this week, in part because the Trump administration has been “unclear in what it really wants,” a strategist said on Friday.

“On the one hand, the President remains very focused on the size of the bilateral trade deficit, and reportedly the Chinese has come to Washington with a package of about $200 billion worth of purchases that would certainly remedy a large portion of that deficit,” said Amy Celico, principal at the Albright Stonebridge Group, a global strategy and business advisory firm.

But on the other hand, the U.S. administration and Congress want China to change some of its behavior on unfair trade practices, and seek to put an end to subsidies for advanced technology industries and forced technology transfers.

https://www.cnbc.com/

Xiaomi valued at $80 billion

Xiaomi, the Apple of the East

In China no company achieved $1bn in annual revenue as quickly as Xiaomi did, in the year following the launch of its first smartphone in 2011. Chinese media initially nicknamed Xiaomi the “Apple of the East” (its literal translation is “little rice”). That was a stretch, even in good times. But within another two years the affordable-handset-maker became the world’s most valuable startup, worth $46bn.

Analysts reckon that it now wants to raise up to $10bn in an initial public offering (IPO) on Hong Kong’s stock exchange which was announced on May 3rd. (Its filing documents disclose neither the valuation that it is seeking, nor a fundraising target.) That could afford it a very generous valuation of as much as $80bn—not far off the $91bn market capitalisation of Baidu, China’s biggest search engine and one of the country’s three “BAT” tech titans alongside Alibaba and Tencent.

https://www.economist.com/

FBI and Justice Dept. investigating Cambridge Analytica

Cambridge Analytica ties to the Trump Campaign under scrutinity

Cambridge Analytica, the highly scrutinized data firm that had ties to the Trump campaign, is under investigation by the Department of Justice and the FBI, according to The New York Times, which cited an American official and other individuals familiar with the matter.

The probe into the firm has led to prosecutors querying its former employees and banks that handled its business dealings, The New York Times reported Tuesday. However, according to The Times’ report, the investigation seems to be in its beginning stages.
Facebook announced in March it was suspending the data firm over concerns that the group had violated the social media platform’s policies and had misused the personal data of millions of its users.

https://www.cnn.com/

Facebook to Launch its Own Cryptocurrency

Massive ICO

An exclusive source has confirmed to Finance Magnates that beleaguered social media giant Facebook is diversifying its product line with a cryptocurrency of its own – Facebook Coin (FBC). Users will have to register to use the coin, but Facebook will guarantee that wallets and transactions will be completely anonymous.
The development has not been officially announced, but reportedly the coin is to be launched on the Ethereum blockchain via an ICO within the next two weeks. Given the size and reach of Facebook, it seems safe to assume that the ICO will rival the 1.2 billion dollars that Telegram raised in its own funding round.

https://www.financemagnates.com/