News & Insight Weekly Newsletters

15 April 2022 | Charlie Todd

That Was The Week That Was


  • The US inflation rate hit a fresh 40-year high at 8.5% - the largest annual gain since December 1981
  • The Euro fell on the week after the ECB continued to keep interest rates unchanged and highlighted further economic uncertainty triggered by the Ukraine war
  • Chinese authorities forwent an opportunity to inject further stimulus as they unexpectedly kept the one-year medium-term loan rate unchanged at 2.85%


  • JP Morgan Chase reported an 8% rise in net interest income for Q1 and a 28% drop in investment banking fees but warned of economic uncertainties going forward
  • Tesco profits more than trebled last year amid rising sales and falling Covid costs but forecast slower growth this year in a bid to remain competitive on pricing
  • Twitter shares rose again after Elon Musk launched a hostile takeover bid
  • In a nod to easing shareholder pressure to improve their drugs pipeline Glaxo SmithKline is buying Sierra Oncology for c.US$1.9bn


Silver Lake, which led the PE buy-out of Dell, is heading a US$150mn fundraise for Genies, an avatar technology company that provides digital tools to create and sell online characters, clothes, and social experiences in the metaverse


On a call with Ashtead Technology, the sub-sea equipment lessor, the management team of Allan Pirie and Ingrid Stewart confirmed that the North Sea oil and gas sector is extremely busy saying they hadn’t seen activity like this since 2012/13 as the West tries to become more self-sufficient with regards to energy


1906: A massive 7.9Mw earthquake rocks San Francisco, stock markets fall around 4% over the following two days

2000: The NASDAQ has its worst day ever (at the time), plunging 355.49 points, or 9.67%, down 25.3% for the week. The tech bubble had peaked a month prior, with the NASDAQ closing briefly over 5,000


Twitter has always suffered more than its fair share of dysfunction. But at least we weren’t being actively trolled by prospective board members using the product we created.”  Jason Goldman, a Twitter founder and ex-Board Director. This was before Elon Musk launched his takeover attempt valuing the company at US$41bn.


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 As at 15th April 2022. Source: Financial Express



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