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10 things you need to know in markets September 11

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People take part in celebrations marking the 70th anniversary of North Korea's foundation in Pyongyang, North Korea, in this undated photo released September 11, 2018 by North Korea's Korean Central News Agency (KCNA).
People
take part in celebrations marking the 70th anniversary of North
Korea’s foundation in Pyongyang, North Korea, in this undated
photo released September 11, 2018 by North Korea’s Korean Central
News Agency (KCNA).


KCNA
via REUTERS



Good morning! Here’s what you need to know in markets on Tuesday.

1.
Mondelez, the owner of the Cadbury brand, is stockpiling
ingredients, chocolates, and biscuits in case of a no-deal
Brexit, the Times reported on Tuesday, citing the president of
Mondelez’s European division.
The United Kingdom is
due to leave the European Union on March 29 2019, but there is no
full exit deal and Britain’s ruling party is split over Prime
Minister Theresa May’s “Chequers” plan to largely accept a
“common rulebook” over goods.

2.
Amazon Business, which specialises in selling goods to
businesses, has hit $10 billion in annual sales worldwide, the
company said on Tuesday.
Amazon launched the new
business line in 2015. It stocks over 250 million products and
has special business-friendly features, such as VAT receipt
services.

3.
Asian shares were struggling to snap an eight-session losing
streak on Tuesday as investors decided no news was good news on
tariffs, while the pound touched a five-week top on hints a
Brexit deal might be nearer.
Japan’s Nikkei closed
up 1.26%, the Hong Kong Hang Seng is down 0.28% at the time of
writing (7.06 a.m. GMT/2.06 a.m. ET), and the Shanghai Composite
is down 0.12% at the same time.

4.
Japanese chipmaker Renesas Electronics said on Tuesday it had
agreed to buy US peer Integrated Device Technology for about $6.7
billion, as it aims to compete with Nvidia and Intel Corp in
self-driving car technologies.
Renesas will pay
$49.00 per share in cash for all IDT outstanding shares, compared
with Monday’s close at $42.08, and expects the deal to close in
the first half of 2019.

5. UK unemployment and earnings figures for the three
months to July are due at 9.30 a.m. GMT (4.30 a.m. ET).

The unemployment rate is forecast to remain steady at 4%, while
earnings excluding bonuses are forecast to accelerate slightly to
2.8%.

6.
Sonos was deprived of a stock-price boost from its maiden
earnings on Monday, as investors’ enthusiasm earlier in the day
fizzled after its figures were revealed.
The
Financial Times reports that Sonos said it sold 11% more products
than the same quarter a year ago but revenues fell by 7% to
$208.4 million, due to a decline in average selling prices.

7.
Network Rail has sold thousands of railway arches to a pair of
investors as part of a £1.5 billion property deal but vowed that
businesses working from the spaces, which have raised fears about
rent rises, would be protected by a “tenants’
charter.”
The Guardian reports that Telereal
Trillium and Blackstone Property Partners won the bidding for
5,200 properties, the majority of which are arches.

8.
Britain is to get its first manufacturing site dedicated to
making batteries for electric cars.
The Times
reports that Williams Grand Prix Holdings, the parent company of
the Williams Formula One motor racing team, is working with
Unipart, the motor components group, to start production for
Aston Martin’s first electric supercar, the RapidE.

9.
ING Group said on Tuesday its chief financial officer was
stepping down in the wake of revelations the Dutch bank had
failed to prevent money laundering for years and was forced to
strike a €775 million ($900 million) settlement with Dutch
prosecutors.
Koos Timmermans, who was appointed CFO
in 2017, will remain in his job until a replacement is installed,
the company said in a statement.

10.
German pilots’ union Vereinigung Cockpit (VC) on Monday called a
24-hour strike affecting all Ryanair flights out of Germany on
Wednesday to push its demands in talks with the Irish carrier on
wages and work conditions.
The union called on
German-based pilots to strike from Wednesday 1.01 a.m. GMT until
Thursday 00.59 a.m. GMT, affecting all flights departing from
Germany during that period.

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