Overview of TOP weekly news 3.11. 2021

03 / 11 / 2021
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The price of gas is rising again

The price is mainly affected by the sharp economic recovery, low inventories and, last but not least, the reactions of the Russian energy giant. Most recently, Russia’s Gazprom has refused to reserve more pipeline capacity through Ukraine and Poland to transport gas to Europe in the first three quarters of next year. Putin is awaiting approval for the Nord Stream 2 pipeline, saying Gazprom would supply more natural gas to the EU when it fills its own reserves.

IPO of the digital bank

The British digital bank Starling, whose investors are Goldman Sachs, Fidelity Investments and the Qatari Investment Fund, expects to enter the stock exchange in at least two years. The bank currently has millions of users only virtually, through the application and has no physical branches, similar to its competitor Revolut. The IPO should take place in London and the company would join a series of high-profile shares of the technology sector in Britain.[1]

The social network cancels face recognition

Facebook has said it will end their face recognition project. The use of this system has provoked negative reactions and concerns not only among users but also “attracted” the regulators. Facebook is committed to no longer automatically recognizing people’s faces in photos or videos with this system. As a result of this change, it will remove more than 1 billion individual face recognition templates.

Tesla suffered after tweet of Elon Musk

Tesla recently announced a large order from a car rental company. However, the company’s founder published a tweet stating that the order from Hertz had not yet been completed. Tesla shares traded lower after the tweet was published. The groundbreaking bulk order from the rental company is to be for 100,000 pieces of vehicles. About half of the order is reportedly related to a partnership with Uber.*

Tesla’s performance over 5 years. (Source: Investing.com)*


Watch this week:

On Thursday, in U.K. will be published Construction Purchasing Managers Index (PMI).

On Friday, in USA will be released the Unemployment Rate which measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.


[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.


* Past performance is no guarantee of future results

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