The Week That Was: Global business news update, issue 8

By Nick Lambe – Managing Director, Links International

Over the past week or two, we have seen lots of very interesting business activity. Perhaps it is the anticipation of the US elections, which is obviously reaching fever pitch… Yawn…

Is wearable technology a short-lived fad like the ‘MiniDisc’? (remember them??)

Overall smartwatch shipments have declined 51% YoY with Apple’s YoY decline at a whopping 71.6%! That being said, however, Garmin has shown growth (albeit slow growth) at 600,000 shipments in Q3 2016 compared with just 100,000 shipments in 2015. Now, this may surprise some who have come to expect Apple to lead the charge in innovation and development of new technologies, however, it appears that the simplicity of the functionality and practical usage of wearable technology is the key. So how will the new Apple Watch, which tracks swimming activity (made in partnership with Nike), fair after its launch last week?

Has Coca-Cola gone pop?

This quarter, Coca-Cola posted a decline in revenue for the sixth consecutive quarter, with its revenue now down to $10.6bn and a slide in sales in all but the North American and Asian markets. Interestingly, in keeping within the healthy/sport theme of fitness equipment above, water and sports drinks helped drive sales on their still beverages. So, have people gone off the traditional brands and gone health and fitness crazy? I don’t know, but, for me, on a long, hot trail run, there is nothing better that a cold can of Coke!!

Investment banking recruitment gets a ‘tune-up’…

Ok, please forgive me for that one… Goldman Sachs has undergone another ‘break from the norm’ recruitment campaign with the use of audio-ads and banners on… wait for it… Spotify. According to the firm, the intention is to help emphasise Goldman Sachs’ value and help young people understand the firm. Share your best playlist please…

The ‘lame duck’ attacks!!

Tata Group’s departed Chairman, Cyrus Mistry, has hit out after his ousting from India’s largest conglomerate has resulted in a brutal assessment of the business. Specifically, these include huge debts in foreign investments in hotels and chemicals, hemorrhaging of money in telecoms and a power business that is struggling due to massive underestimation of coal prices. So, is this just sour grapes, or do we expect to see the write-downs that he has predicted to the tune of $18bn?

Disclaimer: This column is designed to be a lighthearted weekly update on the global business news that I enjoyed reading.  We would welcome your thoughts, comments and suggestions. Please do not hesitate to contact us.

More next week…

Read previous editions of The Week That Was:
issue 1
issue 2
issue 3
issue 4
issue 5
issue 6
issue 7