Sunday, December 17, 2023

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Global shipping crisis could be imminent / Bhutan to build a megacity without Peter Thiel / Nelson Peltz nominates himself to the Disney board

Plus: Abu Dhabi set to invest up to $500M in key Turkish port

Inside Business

For December 17, 2023

Thank you to our sponsor

Here are the top Business stories to look for this upcoming week:

🚢 MSC's rerouting could lead to a global shipping crisis.
🏙 Bhutan will build a megacity without the backing of Peter Thiel and Art Fincher, who proposed the idea first.
🤝 Activist investor Nelson Peltz nominates himself to Disney's board.

Thank you.

Arbër
p/Arber

What to look for: MSC, the world's largest shipping company, announced that it will not ship through the Suez Canal due to ongoing drone attacks from Houthi militants. The latter have claimed that they will attack all ships that have any ties with Israel, including those that do business with Israeli companies or organizations. MSC and other companies that have rerouted their shipments represent 40% of the global trading volume. This could cause a global crisis that leads to delays and increased costs, which could be felt in the upcoming days.

What to look for: Famous investor Peter Thiel had previously backed a project to build a megacity in Gelephu, a town in the kingdom of Bhutan that borders India. The project, led by Art Finch, was created with the idea of making the city an economic hub and a destination for companies around the world. Reports now claim that the monarch of Bhutan, Jigme Khesar Namgyel Wangchuck, will announce the launch of a similar project without the involvement of Thiel and Finch. Bhutan will reportedly build the megacity independently, with help from McKinsey & Company.

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What to look for: Activist investor Nelson Peltz has nominated himself and James Rasulo, a Disney executive with more than 30 years of experience, to the Disney board. This is the second time Peltz has attempted to place himself as a board member in just as many years. His attempt comes at a time when Disney has failed to repeat its previous success with animated movies and sports network ESPN.

What to look for: Abu Dhabi's state-backed company AD Ports Group is set to invest in the Aegean coast port of Izmir, according to reports. The deal could be valued at $500M. The port of Izmir is controlled by Turkey's wealth fund and is highly important due to the country's unique geographical position.

What to look for: Digital signature company DocuSign is in talks of a possible acquisition deal. The reports, published on Dec. 15, led to the company's share price reaching $64.53. While the acquisition price has not been published, the company's $11B market capitalization is likely to be a major factor. More details could be unveiled this week for the California-based company.

What to look for: Earlier this week, Finland's national railway company VR seized four Russian trains. According to Finland, the Russian government failed to pay the loans the joint venture train company owed to Finnish banks, thus leading to the seizure. Russia has called the decision "illegal," while further steps are expected to be announced soon.

Quick Hits:

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Tesla's battle with unions in Scandinavia is set to continue as unions in the region continue to demand changes in salary and benefits.
Taiwan-based Caliway Biopharmaceuticals has raised $100M. The company specializes in developing therapies for fat reduction.
A former Amazon engineer pleaded guilty to stealing $12.3M worth of cryptocurrency.
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Arbër Musliu

Writer

Arbër is an Inside analyst who has previously incubated his startup at the largest incubator in Southeastern Europe. He has collaborated with multiple major publications and holds a business degree from XAMK University in Finland.

This newsletter was edited by Vibha Chapparike

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