This week the oil shortage in the UK worsened with ~20% of the pumps being fully dried out. The major cause of this is attributed to truck drivers shortage. Though this might look usual and in line with what we have seen in the USA as a potential COVID easing outcome, the bigger reason here is the recent Brexit.
Moving away from the EU has led the UK short of the labor market.
The disruptive supply chain could play a critical role in deciding the next phase of the UK economic development post-COVID & Brexit.
On the other side, the oil hits high again this week with Brent touching 80$. Read more here.
Story of the week – What’s cooking in the tech space?
- In addition to a number of new Alexa products, Amazon announced a pricey, prototype home robot on Tuesday that drew the most attention.
- With Astro, you can monitor your home, keep an eye on ageing parents, and even bring your pet a treat. Critics cried foul, accusing Amazon of letting its microphones and cameras wander through the house.
- Currently, Astro is available for $ 999 via invitation-only, with six months of the Ring Protect Pro security service included. This device will eventually cost $1,449.
- A wave of criticism of Instagram Kids has not abated despite Facebook’s announcement Monday that it is pausing the development of the app.
- It makes sense to design kids’ versions of popular apps, even if the adult versions cause real harm.
- Head of Instagram Adam Mosseri, in a post: “We firmly believe that it’s better for parents to have the option to give their children access to a version of Instagram that is designed for them — where parents can supervise and control their experience — than relying on an app’s ability to verify the age of kids who are too young to have an ID.”
Global Market Updates
Global Equity Market
Owing to rising bond yields global equity markets experienced a relatively volatile week with endings in red. Read more here.
Companies in Focus
- In an agreement worth $1.5 billion, a state-owned Chinese bank will buy a stake in China Evergrande. This is part of a strategy to give domestic creditors priority over foreign ones in restructuring by the bank that is a creditor of Evergrande.
- Ford Motor Company’s new $11 billion factories, where the largest component will be located just outside Memphis, is part of a larger campaign to make the United States an international leader in electric vehicles, executive chairman Bill Ford says.
- Ola raises $200 million, valuation rises to $3 billion. Ola Electric said the funding round will help it accelerate the development of other vehicle platforms including electric motorbikes and mass-market scooters.
Thanks for Reading!
Shubham Agarwal (CFA L2 Candidate | MBA candidate at University of Cambridge, UK)
Want to discuss this further or have questions regarding finance/strategy? Feel free to connect here – https://www.linkedin.com/in/shubhamagarwal13/