Friday file

Toyota has cut its output 40% over fear of the delta variant of covid, plus shortages of electronics. This is terrifying markets outside the USA.

Japan is also in focus because Mitsubishi UFJ Finance, which wwe recommend, has signed up to offer Coinbase in Japan, to add more young investors to the clientele of the zaibatsu.

Illumina, which is proceeding with its takeover of grail (which it spun off about 3 years ago) despite the EU asking for a halt to the move, has been downgraded by Silicon Valley Bank for this. The logic behind the buyback is that the Grail blood test can detect about 50 different cancers which then can be treated by ILMN drugs. Keeping the two firms separate despite their common ownership may be enough to allow the important joint venture to proceed.

Grifols,, the French medication firm, has recuperated its Friday the 13th loss.

Morrison's, the British supermarket chain subject to a bidding war, has been taken over by a private equity company. Tesco is perhaps next.

Eli Lilly is up on news that its Jardiance has been approved to treat heart failure, something I am now clueing myself up on.

Swiss Alcon is up thanks to a huge 75% increase in sales of its vision care drugs in Q2, which hit $2.1 bn.

Tencent and Alibaba are both lower in Asia trading because of a new Beijing law on privacy protection for the common man.

By the way the French Revolution enthroned the rights of man. It was thanks to Eleanor Roosevelt (UN Ambassador in the early years) that the term human rights became common.

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