2024-01-15 15:45:30
(Illustration: Camille Charbonneau)
THE ESSENTIAL NEWS
• Thomson Archyde.com takes a 54% stake in Pagero and increases its takeover offer to counter competing offers. Thomson Archyde.com raised its bid for Sweden’s Pagero by 25 percent to regarding $789 million and said it now controls regarding 54 percent of the company, seeking to head off competing bids for the electronic invoicing and tax solutions company.
• Chinese military and government buying Nvidia chips despite US ban. Chinese military agencies, artificial intelligence research institutes and universities purchased small batches of Nvidia semiconductors last year, the export of which to China is banned by the United States, according to a review of tender documents produced by Archyde.com.
• Canada, facing a housing shortage, is considering capping the number of foreign students. Canada is considering capping the number of foreign students allowed to live in Canada, Immigration Minister Marc Miller said, according to a CTV report, as the government faces criticism over the housing crisis.
• Boeing 737 MAX deliveries to China are delayed once more following the Alaska incident – according to the WSJ. Boeing faces another delay in resuming deliveries of 737 MAX jets to China following the Alaska Airlines incident this month, the Wall Street Journal Sunday.
• Apple is offering the iPhone 15 at rock-bottom prices in China as competition heats up. Apple is offering rare discounts on its iPhones in China, cutting retail prices by $70, as competitive pressure intensifies in the world’s largest smartphone market.
TRENDS BEFORE OPENING
THE futures contracts of the main Canadian stock index fall with low trading volumes, investors await the domestic inflation report this week amid optimism regarding an interest rate cut in March. THE European stocks fell, weighed down by gains in government bond yields following rate cut warnings from the European Central Bank, while losses in Dassault Aviation shares on missed plane delivery targets compounded the declines . On the Asian front, the Nikkei Japanese closed higher and crossed the 36,000 mark for the first time in 34 years, thanks to gains in shippers and financial stocks. THE Chinese stocks ended slightly lower following a surprise from the central bank which left interest rates unchanged during the renewal of maturing medium-term loans. The prices of l’or rose as the metal’s appeal was boosted by safe-haven demand due to tensions in the Middle East. THE oil fell as the limited impact of the Middle East conflict on crude production prompted investors to take profits following oil indexes gained 2% last week. Furthermore, the American dollar changed little on the occasion of the Martin Luther King Jr. holiday.
(Re)read all the market news
HEADLINES TO FOLLOW
• Thomson Archyde.com : The company expanded its offer to buy Swedish company Pagero by 25%, to regarding $789 million, and said it now controls regarding 54% of the company, seeking to head off competing bids for the electronic invoicing and tax solutions company. Thomson Archyde.com said it had raised its offer to 50 crowns per Pagero share, valuing the company at 8.1 billion crowns and beating the offer of 45 crowns per share from U.S. company Avalara Inc. Thomson Archyde.com said it had purchased approximately 53.81% of Pagero shares and votes of major shareholders, including Summa Equity, the general manager of Pagero and other officers and employees of the company at the new offered price, which is aimed at all shareholders of Pagero . Last week, Thomson Archyde.com offered 40 crowns per share, valuing Pagero at 6.4 billion crowns, beating an offer of 36 crowns per share from the American company Vertex, which specializes in tax technology. Vertex withdrew its offer on Sunday.
Click next to see the recommendations
1705336520
#Market #news #Monday #January
