European stock indexes ended the trading session in the green. In Brexit news, President of the European Commission Jean-Claude Juncker said the commission will not stand in the way of an orderly UK withdrawal, but that exiting the EU means losing privileges. UK Prime Minister Theresa May said the two sides will continue to share a common free trade area, while London will regain the control of its borders and laws. Meanwhile, EU lawmakers voted in favour of an Internet copyright overhaul, as well as to sanction Hungary for its actions seen as eroding its democratic foundations. In data, euro area industrial production dropped by 0.8% in July.
The FTSE 100 rose 0.45% at the closing bell. Imperial Brands Plc was up 3.37%.The DAX ended the day gaining 0.57%, as Adidas AG added 1.98%.The CAC 40 closed 0.91% higher, with Hermes International jumping 4.2%.
Mastercard partners with Microsoft on trade platform for businesses
Mastercard announced it has partnered with Microsoft to launch a global business-to-business (B2B) trade platform called Mastercard Track.
The new system will reduce the highly inefficient and paper-based system which adds hundreds of billions of dollars of costs and burden delays in global trades. The new Mastercard Track promotes increased exports - especially by small and medium sized business whilst reducing frictions in the global trading system.
Mastercard Track will aim to "simplify and enhance" the way companies do business with other companies by automating the procure-to-pay-process, reducing the steps it takes to identify a business partner and manage payments electronically, the company added. Mastercard will work with nine B2B software suppliers and its database will include over 150 million companies worldwide.
FedEx expands ground operations in US
FedEx Corporation announced that it will expand its ground operations in the United States to six days per week all year round as a result of a growing demand in e-commerce.
"FedEx anticipated early on that the growth of e-commerce would significantly increase demand throughout our network, and we underwent a transformation by opening new facilities and investing in highly-advanced technology and innovations," Raj Subramaniam, FedEx's executive vice president, chief marketing and communications officer, said. "The rise in demand for e-commerce goes beyond peak. It's a year-round phenomenon and we are ready to meet that demand," he added.
The delivery services company added that it will hire 55,000 workers for the upcoming holiday season and increase the working hours of current employees. Furthermore, FedEx ground operations will run six and seven days a week during the festive period, just as they did in the past few years.
Disclaimer: This article was issued by Rodrick Duca, trader at Calamatta Cuschieri. For more information visit, www.cc.com.mt. The information, view and opinions provided in this article are being provided solely for educational and informational purposes and should not be construed as investment advice, advice concerning particular investments or investment decisions, or tax or legal advice. Calamatta Cuschieri Investment Services Ltd has not verified and consequently neither warrants the accuracy nor the veracity of any information, views or opinions appearing on this website.