Here is what you need to know.
1. Apple’s stock dropped on news of Jony Ive’s departure. The famed designer’s planned exit this year wiped $US8 billion from the tech giant’s market cap.
2. The billionaire Lego family is buying Legoland’s operator. Merlin Entertainments has recommended the $US6.1 billion offer to its shareholders.
3. America dominated second-quarter deals. Mergers between AbbVie and Allergan, Raytheon and United Technologies, and Occidental and Anadarko meant the US accounted for more than half of global M&A volumes.
4. Glencore’s mining disaster is getting worse. The death count from a landslide at the mining and commodity group’s copper and cobalt mine in Congo has climbed to 43.
5. Deutsche Bank passed a key stress test. Shares in Germany’s biggest bank jumped 5% after it cleared the annual health check by the US Federal Reserve.
6. France’s Orange has sold its 2.5% stake in BT. The telecoms giant raised $US616 million from the disposal.
7. Nike suffered a rare miss. The athletic-apparel giant fell short of Wall Street’s profit expectations for the first time in 27 quarters.
8. Stocks have climbed on hopes of a US-China trade deal. Germany’s DAX led the pack in Europe (+0.5%). The S&p 500 was set to open up 0.2% near 2,938.
9. A couple of earnings reports are coming out. Constellation Brands, which makes Corona beer and Svedka vodka, is set to report first-quarter results today.
10. There’s more economic data on the docket. Redbook retail figures and readings for existing home sales are scheduled for release.
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