What You Need To Know This Week — August 24th, 2019
What You Need To Know This Week
A weekly recap to keep you informed on the most important events this week impacting markets, business, tech and the global economy.
PEMBINA TO ACQUIRE KINDER MORGAN CANADA IN $2.3 BILLION DEAL
Pembina Pipeline Corp announced its acquisition of Kinder Morgan Canada in a $2.3 billion transaction. The all-stock deal values Kinder Morgan Canada at a 37% premium. The deal represents an increased bet on the future of the oilsands.
CHINA FIRES BACK WITH $75 BILLION OF ADDITIONAL TARIFFS ON U.S. GOODS
China announced that it will impose 5%-10% tariffs on an additional $75 billion of U.S. products. These tariffs are being applied to the remaining U.S. imports in which the punitive taxes have not yet been applied. The tariff escalation is in response to the U.S. applying the latest round of tariffs on $300 billion of Chinese products.
U.S. PMI FALLS BELOW 50, SIGNALLING MANUFACTURING DECLINE FOR THE FIRST TIME SINCE 2009
U.S. manufacturing activity has contracted for the first time in nearly 10 years, with IHS Markit’s US manufacturing purchasing managers’ index (PMI) dropping to 49.9 in August. A PMI reading below 50 signals contraction.
VMWARE ANNOUNCES ACQUISITIONS OF PIVOTAL AND CARBON BLACK
In a rare double deal, VMWare announced acquisitions of software development platform Pivotal Software for $2.7 billion and cloud security company Carbon Black for $2.1 billion.
Recommended Articles, Podcasts, Books and Tweets
Listen to venture capitalist Josh Wolfe on investing in technology start-ups and closing the gap between ‘sci-fi’ and ‘sci-fact’.
The Business Roundtable decided to change its mission to take into account all stakeholders, not just shareholders.
Many economists (and me) are calling for a rate cut from the Bank of Canada.
Germany sold 30-year bonds with a 0% coupon. They are expected to trade at a premium to par value.
A look at historical drawdowns of long-short multi-factor portfolios.
The two most important things an investor needs to do to succeed according to Howard Marks.
Japanese conglomerate Softbank plans to lend its employees up to $20 billionto invest in its new $108 billion venture capital fund.
Canadian core inflation remained at 2% in July.
-The Accelerate Team
