Apple hits €1 trillion dollar market cap. Coca-Cola Company acquires Costa Coffee. Toyota invests €500M in Uber, plus other news picks from the month of August.
On paper it’s a simple chain of events: After reporting earnings that were higher than the forecasts, their stock rose and Apple reached a new high valuation in early August. Now, as Apple sits at an even more esteemed spot, the question is: What happens next?
Coca-cola wants to expand into the global coffee market and buys Costa, a coffee chain with almost 4,000 outlets, for over 5 billion dollars. Even though the global market for packaged coffee and drinks is significantly smaller than the soft drinks market, it’s growing rapidly. Nicholas Hyett, an equity analyst at Hargreaves Lansdown, says Coca-Cola’s “global reach should turbo-charge growth in the years to come, and hot drinks are one of the few areas of the wider beverages sector where the soft drinks giant doesn’t have a killer brand.”
Tesla chief executive Elon Musk says he will no longer be taking the electric car maker private, just two weeks after saying he was considering a deal. Is Musk losing his grip? Is he broken? A roundup of insight and analysis on Musk from around the web try to answer those questions and more.
Toyota, one of the world’s largest carmakers, and Uber, the leading ride-hailing service, have agreed that Toyota will invest $500 million in Uber to develop autonomous cars. Self-driving technology from each company will be integrated into purpose-built Toyota vehicles. The investment values Uber at $76 billion.
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