U.S. Markets Consolidate after Jobs Report

Stocks in the U.S. markets remained mixed with the S&P 500 sideways and NASDAQ 100 lower. The U.S. job report showed growth increased in July and the unemployment rate fell.

While earnings reports from top companies have kept the market volatile, all indices in the U.S market are near all-time highs. Similarly, all global markets including ours are consolidating in the day.

Stoxx Europe is up 0.02%

Dow Jones is up by 0.34%
NASDAQ is down by 0.50%

Questions Arise As Google Founder Gets New Zealand Residency

Last Friday, reports confirmed that Google co-founder Larry Page has gained New Zealand residency. He first applied for residency in November under a special visa open to people with at least 10 million New Zealand dollars (~Rs 52 crore) to invest. Now, many people are asking whether highly wealthy people can get residency in the country. Anyway, this would not affect his residency status in the US or any other nation.

The U.S. Opens Investigation Into Mercedes Vans On ’After Parking’ Issues

The American National Highway Traffic Safety Administration has opened a preliminary investigation into Mercedes vans used for Amazon deliveries and ambulances. This is based on the reports of some 2019 Mercedes-Benz vans configured for use as Amazon delivery vehicles or ambulances showed some ‘after parking issues’. The reports say that the vans roll away shortly after being shifted to park using the Auto-P function. Daimler and Amazon did not immediately comment on this.

Restrictions Fail To Curb Covid Cases In  Australia

Australia’s largest city Sydney reported a record 279 Covid-19 over the past 24 hours, up from the previous high of 259 the day before. New South Wales reported 291 cases, up from 262. Govt is expecting a surge in Covid cases in the coming days as the current restrictions are not enough to control the spread. 

United Airlines Asks U.S Employees To Have Compulsory  Covid Vaccination

American airline- United Airlines have asked all its domestic employees to have compulsory vaccination against Covid-19, the first U.S. airline to do so. The company said the action is taken due to the spread of Delta Covid cases and the U.S employed should be vaccinated by any of the three vaccines approved by the U.S drug regulators, Pfizer, Moderna, or J&J.

Morrisons Agrees To A Takeover Offer From Fortress Led Group

British supermarket group Morrisons said on Friday it has agreed to an improved takeover offer of 6.7 billion pounds (Rs 68,953 crores) in cash from a consortium led by Fortress Investment Group. This is a better offer compared to the previous offer of 6.3 billion pounds(Rs 64,836 crores) by the same group. But the major Morrisons investors Silchester, M&G, and JO Hambro consider the offer as very low.

Japan’s Pension Fund Posts Another Quarterly Profits

Japan’s Government Pension Investment Fund(GPIF) has posted a quarterly gain for the fifth straight quarter as its profits from international markets offset losses in domestic stocks.

GPIF is the world’s biggest pension fund and returned 2.7% profits for investors, with assets under management reaching to a record 191.6 trillion yen(~Rs 132 lakh crores), it announced on Friday. For context, India’s Real Gross Domestic Product (GDP) in the year 2020-21 was estimated to be Rs 135.13 lakh crore.