Week of Feb 23 2018 Weekly Recap & The Week Ahead

“Volatility is greatest at turning points, diminishing as a new trend becomes established.” George Soros

1. China to Retaliate Against U.S. Metal Tariffs — It’s the latest trade tension escalation between the world’s top two economies. China has threatened retaliation after the Trump administration received a green light to impose steep tariffs on aluminum and steel imports on national security grounds. “If the final decision from the U.S. hurts China’s interests, we will definitely take necessary measures to protect our rights,” said Wang Hejun, a senior official at China’s Commerce Ministry.
2. Apple Looks to Buy Cobalt Directly from Miners — Apple is in talks to buy long-term supplies of cobalt directly from miners for the first time, seeking to procure “several thousand” metric tons of cobalt per year for a period of at least five years, Bloomberg reports. The strategy is designed to buffer Apple’s (NASDAQ:AAPL) reserves of the key lithium ion battery ingredient amid industry fears of a shortage driven by the electric vehicle boom.
3. United Technologies to Consider Breakup Decision in 2018 — United Technologies (UTX) is studying a plan to split up a portfolio that includes aerospace, elevators and air conditioners, with a decision to be announced by the end of this year. “The real question is do you get a significant multiple expansion by having separate companies,” CEO Greg Hayes told the Barclays investor conference in Miami.
4. Chinese Regulator Seizes Control of Anbang Insurance Group— the Chinese government has seized control of Anbang Insurance Group and said its chairman had been prosecuted, in a striking move that highlights Beijing’s willingness to crack down on financial risk and curtail debt-laden conglomerates. Anbang is said to have violated laws and regulations that “may seriously endanger the solvency of the company,” following acquisitions including the Waldorf Astoria and insurers in Europe and Asia.

The week ahead — Economic data from Econoday.com:

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