5 things you need to know before markets open in Australia and around the world.
Here’s 5 things you need to know as the markets open around the world.
1. May wins in Parliament but in Losing in Europe
Prime Minster May managed to defeat the backbencher revolt and left immediately to renegotiate terms in Europe. However, she was met by stiff resistance, where politicians such as Frances President Macron stated “We cannot reopen a legal agreement, we can’t renegotiate what was negotiated for several months. It’s up to Theresa May to tell us what political solution she expects to pursue to find a majority for this deal.”
Against this kind of response, May is balanced on her statements of “Trust me,” and “It is in none of our interests to run the risk of an accidental no deal with all the disruption that would bring, or to allow this to drag on any further.”
However, the reality is different and while some claim that is changing things are “impossible” others claim differently. May even accepts this and said “We have to change the perception that the backstop could be a trap from which the UK could not escape. Until we do, the deal, our deal, is at risk.” Based on this concept, May added that “There is a majority in my parliament who want to leave with a deal so with the right assurances this deal can be passed.”
German Chancellor Angela Merkel was less rigid than Macron, and told the media that “We can, of course, talk about whether there are additional assurances, but in this the 27 EU members are together and will make their interests clear, although always in the spirit that we want very, very good relations with Great Britain after Great Britain has left the European Union.”
2. Trump doesn’t think GM EV’s shift will work
GM CEO Mary Barra was interviewed by Fox News, and she stated that it was GM’s decision to launch 20 new electric vehicles by 2023 this is due to the rising regulatory requirements for zero-emission vehicles in China and around the world.
According to Trump, Barra was on the Hill and tweeted “To tell me a couple weeks before Christmas that’s she going to close in Ohio and Michigan – not acceptable to me.”
According to Trump, based on the current GM statements, “They’ve changed the whole model of General Motors. They’ve gone to all-electric. All-electric is not going to work … It’s wonderful to have it as a percentage of your cars, but going into this model that she’s doing I think it is a mistake.”
Based on Bara’s decisions and the prospects of Ohio and Michigan’s demise, Trump added in light of the 2020 elections, that “Ohio is going to replace those jobs in like two minutes. She’s either going to open fast, or somebody else is going to go in.”
In the meanwhile, GM shares fell 1.4 percent in trading Thursday.
In response to Trump’s reaction, a GM spokesperson stated that “We continue to produce great vehicles today for our customers while taking steps toward our vision of a world with zero crashes, zero emissions, and zero congestion.”
In relation to GM’s decisions to close sites in the USA and open sites in Mexico, Trump said “I don’t like that General Motors does that… General Motors is not going to be treated well.”
3. Virgin Galactic touches space
A successful test flight taken by US-based Virgin Galactic in their VSS Unity, reached an apogee of 51.4 miles (83 km) above Earth. This was met by extreme joy on Earth, and Sir Richard Branson, owner of Virgin Galactic ecstatically cried and hugged his son as he high-fived and hugged other spectators.
After VSS Unity reached its zenith, it reentered the atmosphere at 2.5 times the speed of sound landing a few minutes later, roughly one hour after it had launched. This successful flight is the start of a major impact factor in the billionaire club to breach space where Bezos and Musk compete for more payloads and view for commercial spaceflight capability.
Branson has invested a personal $1 billion in the business and has constantly stated that he is in a race with Bezos, but passenger and flight safety is key to success. After the test, Branson said, “Today we get to enjoy the fact that we have put people into space before anybody else.”
To sum up, at the Mojave Air and Space Port, the VSS Unity is a twin-fuselage carrier airplane that held the SpaceShipTwo passenger spacecraft when it launched at 7:11 a.m. local time (1511 GMT).
Branson planned another test flight in a couple of months and based on the current flight data; the first commercial space flight might happen in months and not years as previously expected.