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Loans To Get Costlier, WhatsApp Might No Longer Be Free, Apple Rises to Glory et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 5, 2018 10:17 AM 2 min read
Editorial

End of Week Wrap-up (July 30, 2018 - August 05, 2018) #RBI #RBIratehike #WhatsApp #WhatsAppBusiness #FlipkartPlus #AmazonPrime #Apple #BoE #US #China #tradewars #Transfin

Editor's Comment: RBI hikes repo rate by 25 basis points to 6.50% to keep inflation under control. This was the first time since October 2013 that RBI raised repo rates at two consecutive policy meetings.

 

WhatsApp business services app reportedly to start charging its users for sending marketing and customer service messages. WhatsApp may charge 0.5 cents to 9 cents depending on country as it looks to monetize the service started in January 2018.

 

Flipkart Plus to be launched on 15th August to take on Amazon Prime. Flipkart Plus will be a no subscription, points-based programme for customers. As more points are added, customers will receive additional offers from Hotstar, Zomato, MakeMyTrip etc, on top of quicker product deliveries and discounts.

 

Apple Q3 revenue rises 17% YoY to $53.5bn and net income rises 32% YoY to $11.5bn. International sales accounted for 60% of this quarter’s revenue. Strong results were driven by sales of iPhone, App services and wearables worldwide. Apple becomes first publicly traded US Company to cross $1tn market cap on back of strong Q3 results. Apple closed above $1tn market cap yesterday on markets as share price reached $207.05 and adjusted share was 4,829,926,000 shares.

 

Bank of England increases base rate by 25 basis points to 0.75%, as inflation is above the target and growth rate is progressing as expected. This is the highest base rate since March 2009, post the financial crisis.

 

US considering increasing tariffs on $200bn goods from 10% to 25% to mount pressure on China. In response, China plans tariffs on about $60bn in US goods; to levy duties at levels of 25%, 20%, 10%, and 5%.