As we do every Sunday, here are the top news stories from the past week:

Tuesday:

Now that Terminal 3 at Frankfurt Airport is finally open, Terminal 2 is closing. The terminal is set to undergo a major renovation that will last for many years. This means that $FRA (+3,16%) Fraport, the airport’s maximum capacity will likely not be fully utilized for the time being.

https://www.handelsblatt.com/unternehmen/dienstleister/flughafen-frankfurt-terminal-2-schliesst-fuer-viele-jahre/100231588.html

Wednesday:

The German robotics startup secures the largest funding round ever in Germany. The startup raises $1.4 billion and is valued at $7 billion. Investors include $NVDA (+1,98%) NVIDIA, $AMZN (+1,24%) Amazon, $USDT (-0,15%) Tether, and $QCOM (+3,55%) Qualcomm.

https://www.handelsblatt.com/unternehmen/start-ups/neura-robotics-deutsche-robotikfirma-stemmt-rekord-finanzierungsrunde/100228368.html

The $FRAS (-0,54%) Frasers Group is making a bid for $BOSS (-0,68%) HUGO BOSS and is offering 38 euros per share. That’s not much above the current market price. We’re eager to see how this plays out.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/mode-grossaktionaer-frasers-will-hugo-boss-uebernehmen/100232072.html

Thursday:

For the first time in three years, the ECB is raising interest rates again to 2.25%. The main reason is the rise in energy prices due to the war in Iran. This is a disservice to the eurozone economy. However, it brings the ECB closer to its goal of combating inflation above 2%.

https://www.welt.de/newsticker/dpa_nt/infoline_nt/wirtschaft_nt/article6a2aa7667e682fc37fbf5b48/gestiegene-inflation-ezb-hebt-zinsen-erstmals-seit-2023-an.html

Friday:

$SPCX (+4,3%) SpaceX successfully goes public and debuts on the stock market with a higher valuation than Meta. All this despite annual revenue of just 16 billion euros and an annual loss of about 4.5 billion euros. Apparently, however, investors see enormous growth potential. That is the only way to justify this valuation.

https://www.handelsblatt.com/finanzen/maerkte/marktberichte/wall-street-us-boersen-oeffnen-kaum-veraendert-spacex-debuetiert-an-der-nasdaq/100232579.html

As every Sunday, the most important news from the past week, as well as the dates for the coming weeks.

Also as a video:

https://youtube.com/shorts/f0axgV1KRVs?si=6MLwRC5IQHK7FPqt

Monday:

$FRAS (-0,54%) Frasers seizes the opportunity and increases its stake in $BOSS (-0,68%) HUGO BOSS. The share had recently fallen by more than 50% compared to its highs in 2023. Frasers Group now directly holds more than 15% of the voting rights.

https://fashionunited.de/nachrichten/business/frasers-group-erhoht-beteiligung-an-hugo-boss/2024081257677

Tuesday:

$HFG (+0,08%) Hellofresh can grow the bottom line and the ready-to-eat segment grows by almost 45%, sales in the cooking box business shrink by 10%. Overall, sales increased by 0.9%. This means that Hellofresh is already able to compensate for the falling sales in the cooking box business and return to growth. In addition

Hellofresh was able to refinance itself favorably. Hellofresh therefore continues to have a solid capital structure.

https://www.wallstreet-online.de/nachricht/18373330-hellofresh-hits-7-5-aebitda-q2-2024-strong-performance

Producer prices in the USA 🇺🇸 are better than expected. Instead of +0.2 % compared to the previous month, it was +0.1 %. This increasingly points to a first interest rate cut at the beginning of September.

https://finanzmarktwelt.de/inflation-usa-erzeugerpreise-niedriger-was-nun-318977/?amp

Wednesday:

With the exception of Japan, there is growing evidence of a global turnaround in interest rates. Even the economically relatively insignificant (GDP: around USD 250 billion) island state of New Zealand 🇳🇿 has now lowered interest rates. The key interest rate has been lowered from 5.5% to 5.25%.

https://www.handelsblatt.com/finanzen/geldpolitik/geldpolitik-neuseelands-zentralbank-senkt-nach-langer-pause-den-leitzins/100059828.html

At +2.9%, the inflation data from the USA 🇺🇸 was below expectations of +3.0%. The markets continue to rise accordingly, and an interest rate cut by the Fed is becoming more likely.

https://www.handelsblatt.com/finanzen/geldpolitik/usa-inflation-faellt-im-juli-auf-tiefsten-stand-seit-maerz-2021/100057609.html

Big deal in the food industry. The non-listed food giant Mars takes over the Pringles manufacturer $K Kellanova. It is likely to be one of the biggest takeovers in the food industry ever. The confectionery giant Mars already has a turnover of USD 50 billion. With Kellanova, turnover will increase by a further USD 13 billion. The takeover is likely to cost USD 36 billion.

https://www.handelsblatt.com/unternehmen/handel-konsumgueter/pringles-hersteller-mars-will-kellanova-wohl-fuer-30-milliarden-dollar-kaufen/100059764.html

Thursday:

The trade union-affiliated IMK puts the probability of a recession in Germany at 49.2%. The main problems are domestic consumer demand and general demand from abroad.

https://www.handelsblatt.com/politik/konjunktur/imk-institut-rezessionsrisiko-in-deutschland-steigt-studie-zufolge-auf-fast-50-prozent/100060064.html

$CSCO (+0,33%) Cisco has exceeded expectations with its sales forecast for the current quarter. In the previous quarter, sales fell by 10% and profits plummeted by 45%.

https://www.finanzen.net/amp/optimismus-cisco-aktie-steigt-prognose-uebertrifft-erwartungen-13767655

Domestic consumption is driving the economy in Japan 🇯🇵. In the 2nd quarter, GDP grew by an annualized 3.1%. Experts had only expected growth of 2.1%.

https://www.handelsblatt.com/politik/international/konjunktur-privater-konsum-treibt-japans-wirtschaftswachstum-an/100060045.html

$BAYN (+0,47%) Bayer can dismiss a lawsuit in an appeals court. As there are contradictory rulings from appeal courts, Bayer continues to demand that the glyphosate case be brought before the Supreme Court.

https://www.handelsblatt.com/unternehmen/industrie/pharmakonzern-bayer-verbucht-juristischen-sieg-im-us-streit-ueber-glyphosat/100060322.html

Key dates in the coming week:

Tuesday: 14:30 Inflation data (Canada)

Wednesday: 20:00 FOMC Minutes (USA)

Thursday: 10:00 Purchasing Managers' Index (EU)