1. Italy’s referendum: On Sunday, Italians will vote on a main economic referendum that would lead to the most important political shakeup considering Brexit.
Italian prime Minister Matteo Renzi needs Italy to vote “yes” on constitutional reforms designed to revive the usa’s gradual financial system. If the reforms do not cross, he is pledged to resign.
that could set off early elections, not to mention a nasty Monday morning for European markets. A “no” vote might also lead the eu significant financial institution, which meets Thursday, to take extra aggressive movements to stimulate Europe’s financial system.
Italy’s struggling banks would be the most rapid situation if the vote would not go. Borrowing prices for 10-year Italian executive bonds have surged in recent weeks, suggesting analysts now view Italy as the eurozone’s greatest risk.
2. Senate listening to on AT&T-Time Warner deal: The CEOs of AT&T (T, Tech30) and Time Warner (TWX) will defend their $ 85 billion mega-merger ahead of a senate antitrust subcommittee on Wednesday.
AT&T CEO Randall Stephenson and Time Warner CEO Jeffrey Bewkes say the deal, which used to be announced in October, is a pure direction forward for the two companies.
President-decide on Donald Trump said throughout his campaign that he would fight the deal, calling it “too much concentration of energy within the hands of too few.” Time Warner owns CNN, HBO, TNT and other main tv networks and internet sites.
three. Starbucks investor day: Starbucks is website hosting an adventure for buyers on Wednesday, not up to per week after Howard Schultz announced plans to step down as CEO subsequent year. whereas the new York adventure was created before Schultz’s announcement, his departure will doubtless dominate the day’s conversation.
On April three, Starbucks’ Chief running Officer Kevin Johnson will exchange Schultz as CEO. but Schultz isn’t leaving the corporate, nor has he published plans to move to Washington, as many have speculated. instead, he’ll turn out to be Starbucks’ executive chairman, allowing him to focal point on innovation and the company’s social influence.
Schultz joined Starbucks (SBUX) in 1982 as director of retail operations and stepped down as CEO in April 2000 to guide the corporate’s international strategy. He back as CEO in 2008. today, Starbucks has greater than 24,000 retail shops in 70 nations.
4. India’s rate determination: India’s imperative bank will meet Wednesday to check rates of interest for the first time since the united states of america’s surprising determination to scrap its two biggest rupee notes.
Indian top Minister Narendra Modi discontinued the 500 and 1,000 rupees on Nov. eight to be able to fight corruption and cash laundering. the decision led to about 86% of India’s bank notes to turn out to be nugatory in a single day and has drained hundreds of thousands of bucks worth of money from the economic system.
on the subject of 90% of transactions in India take place in cash, making the sudden money crunch especially vital. The Indian govt has given individuals unless Dec. 30 to replace their outdated notes for newly-issued ones.
5. Coming this week:
Monday – Markets react to Italy’s referendum; U.okay. Supreme courtroom begins Brexit hearings; Victoria’s Secret (LB) style convey
Wednesday – Senate listening to on AT&T-Time Warner merger; GSA weighs in on Trump’s hotel rent; Starbucks Investor Day; India’s charge choice
Thursday – European crucial financial institution’s monetary coverage meeting
Friday – government spending measure expires
CNNMoney (big apple) First revealed December 4, 2016: 7:34 AM ET
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newest financial news – CNNMoney.com
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