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Boeing probes; Lift valuation; $ 43 billion payments deal




The Wall Street Journal reported Sunday that US federal prosecutors and the Department of Transportation officials are investigating the development of 737 Max, which has been grounded after two deadly crashes.

The newspaper said that a large jury in Washington, DC has issued a claim to at least one person involved in the aircraft's development.

It is not clear whether the probe is connected to a survey by the transport department inspector general in the Federal Aviation Administration's approval of the jet aircraft.

The FAA said in a statement that its "aviation certification processes are well-established and has consistently produced safe aircraft design."

Nevertheless, Bloomberg reported that FAA employees warned seven years ago that Boeing had too much failure over aircraft approvals. US auditors had confirmed that the FAA had not done enough to "hold Boeing accountable," Bloomberg added.

Stocks in Boeing were down to almost 2% premarket. The share lost 1[ads1]0% of the value last week.

2. German super bank ?: Stocks in Deutsche Bank ( DB ) and Commerzbank ( CRZBF ) ] shot higher Monday after the companies confirmed that they were discussing a merger.

The merger will help consolidate Germany's crowded lending market by creating a single bank with combined assets of 1.9 trillion euros and around 150,000 employees.

However, there is doubt that the smaller competitor will solve Deutsche Bank's persistent profitability problems and help it compete with US rivals that have gone much better since the global financial crisis.

Any agreement will be dealt with by regulators and opposition from trade unions in Germany.

Frank Bsirske, head of the German World Association and member of the Deutsche Bank Supervisory Board, spoke against a merger with Commerzbank and warned that it could endanger over 20,000 jobs.

"Deutche Bank and Commerzbank do not complement each other," he was quoted as saying during an interview with the Suttgarter Zeitung. An international context would be more sensible, he added.

Shares in Deutsche Bank increased by 3.3% in Frankfurt. The Commerzbank share indicates 5.7%.

3. Lift Valuation: Lifting is aimed at a valuation of up to $ 23 billion in its original public offering, according to the Wall Street Journal.

Valuation may change, sources told the newspaper before stocks start trading. The fog started announcing plans earlier this month to list on Nasdaq under the stock cross "LYFT."

Alexandra LaManna, a spokesman for Lyft, refused to comment.

After many years of holding investors waiting, a stampede of tech startups could beat Wall Street this year. Uber, Airbnb, Slack, Pinterest and Postmates are expected to be public in 2019.

4. Pay mega-deal: Two of the world's top payment companies come together in a $ 43 billion deal.

FIS ( FIS ) providing payment processing software and other financial services, purchaser WorldPay ( WP ) as creates technology that supports payments for e-commerce sites.

The new unit, which will have an annual revenue of over $ 12 billion, will be better placed to serve the world's growing e-commerce industry, the two companies said in a statement Monday.

FIS offers Worldpay shareholders a mix of money and shares to make the deal happen. It will assume Worldpay's debt as part of the deal that values ​​the company $ 43 billion.

FIS shareholders will end up holding 53% of the merged company, while Worldpay shareholders will own the remaining 47%. The agreement is expected to close later this year.

5. Global market overview: US futures were mixed.
The European markets opened higher after the shares in Asia had come forward. The Shanghai composite increased by 2.5%, while Japan's Nikkei gained 0.6%. Prada ( PRDSY ) shares doubled as much as 10% in Hong Kong after the company reported 2018 sales and profit figures on Friday that failed to meet analysts' expectations.

Crude oil futures fell 0.7% when OPEC members met allies, including Russia in Azerbaijan. The countries agreed in December to cut oil production by 1.2 million barrels a day from January to June to help support prices.

Saudi Arabia signaled the need to expand the cuts in the second half of this year, according to Reuters.

Dow and S & P 500 closed 0.5% on Friday. Nasdaq adds 0.8%.
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6. Income and Economy: Lumber Liquidators ( LL ) and Overstock.com ( OSTK ] ) it open. Part Taco ( TACO ) will follow the trip.

The National Association of Home Builders will publish its latest monthly survey of US builders.

7. Comes this week:
Monday – Overstock.com ( OSTBP ) and Lumber Liquidators ( LL ) ]] earnings
Tuesday FedEx ( FDX ) earnings; DSW ( DSW ) investor day
Wednesday General Mills ( GIS ) ; crude oil inventory; TCEHY TCEHY
] and Nike ( NKE ) ; Levi Strauss IPO expected; Bank of England rate decision
Friday Tiffany & Co. ( TIF ) earnings; February home sales data



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