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Overview of Top weekly news

Overview of Top weekly news

Lobbying from online giants

Technology giants defend themselves against stricter rules in various ways, and one of them is lobbying. A recent study has shown that companies such as Alphabet, Facebook and Microsoft Corp are the three largest European lobbying investors. The reason is an attempt to thwart new laws aimed at limiting the powers of American technical giants. A study by the Corporate Europe Observatory and LobbyControl comes with a warning to the EU that better draft laws and lobbying rules need to be improved.

Purchase of Uber shares

Yandex plans to pay $ 1 billion to buy Uber shares from the joint ventures. The purchase will affect the areas of food supply, logistics and autonomous management. The Russian company will therefore have full control over Yandex.Eats, the Yandex.Lavka fast food delivery service and the logistics company Yandex.Delivery, as well as the autonomous vehicles division.

Performance of Uber over for 5 years. (Source: Investing.com)

Porsche will open a factory in Malaysia

Porsche will open the first factory outside the EU in 2022, first in Malaysia. This is an important step for the carmaker, mainly because in the past it used to open production as close as possible to Stuttgart. This milestone is a departure from the brand’s strategy, which is proud of its home car production, but customers in Asia are currently forced to pay almost twice as much for imported sports cars due to high tariffs and taxes.

Another LG investment in Vietnam

LG Display can increase its investment in the Asian country. Vietnam has licensed it, which could increase their investment in the northern port city of Haiphong by $ 1.4 billion. Thanks to the approved investment, the company can increase production OLED displays at the Haiphong plant at 13 million to 14 million units per month, from the current 9.6 million to 10.1 million monthly units. The investment will also create new jobs that can climb to 10,000.

Watch this week:

On Thursday, will be released U.S. Initial Jobless Claims.

On Friday, in U.K. will publish Services Purchasing Managers Index (PMI).

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.