U.S. Futures in Green; Aluminum Shoots Up

Global stocks moved up for a seventh day and U.S. futures moved up with investors betting even at higher valuations.

The U.S. markets are closed for Labour Day. Aluminum hit a decade high with political tensions in world’s largest Bauxite money, Guinea.

Stoxx Europe is up by 0.68%

Dow Jones Futures is up by 0.27%

Standard Chartered Agrees To Launch A Digital-Only Bank In Singapore Through  JV Deal

During the Singapore National Trades Union Congress(NTUC) on Monday, Standard Chartered Bank agreed to launch a digital-only bank in the country through a Joint Venture(JV) deal with NTUC’s enterprise arm. The bank will have a 60% stake in the venture, worth 144 million Singapore dollars (Rs 783.49 crores)

Texas City Offers Huge Tax Cuts To Samsung To Build Chip Plant

Taylor, a city in Texas in the US offered a big tax cut if the electronic maker Samsung builds a $17 billion(Rs 1,24,295 crores) chip plant in the location. The plant is expected to create about 1,800 new jobs. The city offered a grant equivalent to 92.5% of assessed property tax for 10 years, 90% for the following 10 years, and then 85% in the 10 years after that.

Aluminium Ore Bauxite Prices Jump Higher

Prices for aluminum ore bauxite from Guinea on Monday recorded their 18 months highest after the reports of a coup in the West African country. Guinea is the world’s second-biggest producer of bauxite ore which is used to make aluminum metal. The reports say the army has taken control of Guinea and if it’s true, it may affect the bauxite supply.

Ryanair Ends Plans To Buy Boeing 737

The Irish airline  Ryanair said on Monday it has ended the plans to buy Boeing 737 jets due to overpricing. Ryanair Group Chief Executive Michael O’Leary said the deal to buy up to 250 of the 230-seat MAX 10 has come to an end as both the firms couldn’t agree on the price. Ryanair is already the largest European customer for the 737 MAX and the deal was expected to be a lifesaver for Boeing after the two fatal crashes of the MAX model last November.

Beijing Denies Reports Of Govt Advising Companies To Invest In Didi

The Beijing city government said that the reports of the government advising the state-owned companies to invest in Didi are untrue. There were multiple reports that the city is planning to take Didi under state control and has proposed that government-run companies invest in Didi. Didi has already denied the report on Saturday.

Oil Steady After Saudi Price Cuts

Oil prices steadied on Monday after Saudi Arabia cut crude contract prices for Asia. This decision offset the oil price rise that happened due to the Ida hurricane. UKOIL and USOIL are down 0.4-0.5% on TVC.

Venice To Control Tourist Overcrowding

Venice has decided to fight tourist overcrowding by tracking them through digital means. Installation of 468 CCTV cameras, optical sensors, and a mobile phone-tracing system will be used for this. The whole system is expected to tell residents from visitors, Italians from foreigners, where people are coming from, where they are heading and how fast they are moving and every 15 minutes, authorities will get a snapshot of how crowded the city is.

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