#7 Nestlés coffee imperium
On Monday, there was big news on the coffee front. Nestlé and Starbucks announced their global coffee alliance.
Nestlé will pay $7.15 billion in order to sell Starbucks products outside its chain of coffee shops
. The Swiss company, already the owner of Nespresso and Nescafé, thus reinforces its strategic position in the coffee industry.
#6 Buffett and Bill bash bitcoin
Two of the worlds wealthiest human beings - Warren Buffett and Bill Gates - shared their not so positive thoughts about bitcoin earlier this week.
According to an article by Reuters
, Buffett compared the demand for the cryptocurrency to the demand for tulip bulbs in 17th century Holland saying that People like to speculate, they like to gamble.
Bill Gates said in an interview with CNBC on Monday that he would short bitcoin if there was an easy way to do so.
#5 Takedas takeover
On Tuesday, there was more takeover news, this time coming from Japan. Takeda Pharmaceutical Co. agreed to buy the London-listed biotechnology company Shire for £45.3 billion ($62 billion), Reuters reports.
If the deal goes through - which will depend on the approval of the shareholders - it will be the biggest overseas acquisition made by a Japanese company. According to the same Reuters article, the mega-deal will push both Takeda and its French CEO, Christophe Weber, among the worlds top drugmakers.
#4 UK house prices tumble
A report by mortgage lender Halifax shows that UK housing prices went down 3.1% last month, Bloomberg Brexit reports. The prices dropped to an average of $299,140, the biggest decline since September 2010.
#3 Recruitment takes over Glassdoor
It seems as if this was the week of takeovers. On Wednesday, there was another acquisition announcement and again coming from Japan. This time it was a deal in the HR/recruitment industry.
The Japanese provider of HR services Recruit Holdings Co. agreed to buy the American company Glassdoor Inc. for $1.2 billion, Reuters Business reports. Glassdoor is probably most known for its huge database of (millions of) company reviews, CEO approval ratings, salary reports, benefits reviews and more.
According to the same Reuters article, this deal will give Recruit access to Glassdoors vast database of valuable data and expand the formers reach in the United States.
#2 Switzerlands referendum
On Wednesday, there was interesting news from Switzerland. BusinessInsider France reports
that the country is going to hold a referendum to ask its citizens if they would be in favor of introducing a so-called sovereign money initiative.
To put it very simply (leaving out a lot of details): if the Swiss people vote yes, banks wont be able to create money for themselves any longer. They will only be able to lend money that they actually have from savers or other banks.
One of the consequences of a positive outcome of the referendum, according to the Business Insider France article, could be that lending money in Switzerland would become much more difficult since banks would be unable to create new capital.
The referendum is planned for the 10th of June.
#1 Malaysias surprise election outcome
From voting in a referendum, we go to a very different kind of voting namely that in a governmental election. On Thursday, the most unexpected news probably came from Malaysia. After more than 60 years of continuous rule by the Barisan National coalition, opposition leader Mahathir Mohamad won the election.
The election result came as a shock for many since they expected Najib Razak, the incumbent prime minister, to win most seats in parliament. For Mohamad - who is 92 years of age - this will be his second time serving as a prime minister since he already served 22 years in this role before (from 1981 to 2003).
Alright, thats this week's wrap-up all done. Of course, well keep on top of the latest Tweets and well continue to bring you the most trending financial micro-messages from the web. See you again next Friday