Top Trending Financial Tweets - Week 13
#7 Facebook Saga Continues
On Monday, the US Federal Trade Commission (FTC) announced that it is officially investigating Facebook. The investigation follows the reports from last week about how Facebook user data had been used by Cambridge Analytica without (most of) those users’ knowledge or permission.
More about the Facebook data scandal here.
Facebook stock fell 5% on Monday hence pulling the share price below $150 for the first time since July last year.
#6 Goldman Bullish on Gold
Also on Monday, US investment bank Goldman Sachs said it expects gold to outperform over the next months. It’s the first time in five years that the American bank is bullish on the prices of the yellow colored metal.
Goldman analysts think that the potential increase of inflation as well as a looming stock market correction could support the bullish sentiment. Gold prices hit their highest trading level since mid-February on Monday.
#5 Euro Confidence
On Tuesday, there were figures. The Eurozone’s business climate indicator fell from 1.48 last month to 1.34 in March 2018. This was the lowest reading since September last year and caused mainly by manager’s worsened expectations about production, overall order books and their assessment of export order books.
#4 OPEC and Russia’s alliance
The rumours have been there for a while. As US shale oil producers increased their production, the OPEC was looking for new alliances. That includes non-OPEC members like Russia.
It turns out the Organisation of the Petroleum Exporting Countries has been working together with Russia on a 10 to 20 year agreement, something that is unprecedented and could extend control over world crude supplies for many years to come.
#3 India’s Engineless Train
Big news for the Indian train history this week. From June 2018 onwards, Indian Railways is going to introduce the country’s first engineless, semi-high speed train for inter-city travel.
The train is 100% ‘Make in India’ and has been named Train 18 (since it’s been built in 2018). It will travel at a speed of up to 160 kmph.
A Giant Technology Leap: Indian Railways to roll out first self-propelled semi-high speed Make In India train set for inter-city travel, which will provide passengers with state-of-the-art amenities, reduce travel time, and enhance their experience.https://t.co/Feuqm0Lp1o pic.twitter.com/h5ATnXjxJN— Piyush Goyal (@PiyushGoyal) March 28, 2018
#2 France’s AI Ambitions
On Thursday, French president Emmanuel Macron and his government launched a big artificial intelligence (AI) initiative. Their goal? To turn France into one of the leading countries when it comes to artificial intelligence.
Overall, the country is going to invest 1.5 billion euros in AI projects varying from public research to startup investment.
#1 The Russia Saga Continues Too
Remember the nerve-agent attack on a former Russian spy and his daughter in the UK recently? The fallout of this incident led to the expulsion of Russian diplomats, not only by the United Kingdom, but by more than 20 other Western countries as well.
Now Russia retaliates.
The country had already expelled 23 UK diplomats and said it will expel 60 US diplomats and close the US consulate in St. Petersburg.
And that’s the final March wrap-up all done. Of course, we’ll keep on top of the latest Tweets and we’ll continue to bring you the most trending financial micro-messages from the web. See you again next Friday!