UK traders consider the consequences of a possible ‘Grexit’ on the European markets.
(Reuters Business Report) – You likely bought extra bling when you bought your Apple Watch. What you didn’t know is just how much money Apple is making off of it. Reuters has learned that nearly a fifth of Apple Watch buyers wind up shelling out for spare bands. The top seller is the $49 black Sport Band made of synthetic rubber. Believe it or not, tech research firm IHS says that only costs Apple about $2 to make. While that doesn’t account for the packaging, shipping, and materials costs, that’s a whopping profit margin.
(REUTERS) – West Africa’s Togo is bursting with ambition.
The small nation is home to around 7 million people.
And reforms have led major banks to headquarter themselves in its capital Lome.
Ecobank is one such bank, its founder Gervais Djondo.
(REUTERS) – Meet Lu Tingbo, a physics major at Peking University who’s also an active investor – managing about about 800,000 dollars cobbled together from family, friends and schoolmates.
French Economy Minister Emmanuel Macron says the Nokia and Alcatel-Lucent tie up is a chance to create a “great European champion”.
(BVO) – Sales at Sweden’s H&M continue to soar.
The budget fashion retailer beat expectations in the first-quarter delivering pre-tax profits of $551 million dollars.
Sales in local currencies rose 15 percent.
But a strong dollar is causing problems – pushing up costs for the world’s second largest fashion retailer and others.
China Central Television (CCTV) – The London Stock Exchange on Wednesday launched a yuan-denominated money market fund, allowing investors direct access to the Chinese interbank lending market.
(BVO) – Negotiations to buy Britain’s O2 have been going on since January.
Now a deal looks certain.
Spain’s Telefonica, owners of O2, have agree to sell to Hong Kong listed Hutchison Whampoa for 10.25 billion pounds.
Banco Madrid, a subsidiary of Andorran lender Banca Privada d’Andorra (BPA), suspends activity following significant deposit withdrawals.
Bill Gates tops Forbes rich list with $79.2 billion and basketball great Michael Jordan joins billionaires club.