2017 was a busy year in the business world; but then again, when isn’t? Some things never change — which is what Finimize HQ discovered when we stumbled across the fact that, exactly 50 years before the price of Bitcoin broke the $10k barrier, the Monkees’ “Daydream Believer” was topping the charts.
We’re not saying that Paul really died in 1966, or that if you play Led Zeppelin IV backwards you hear the phrase “Best Picture: La La Land”. But when we looked into it, spookily, some of the biggest finance stories of 2017 just happened to take place on dates that matched up perfectly with eerily prescient Number One hits of yesteryear.
So here it is: the year in finance — and sweet tunes 🎶
19 January: American Pie
On the 19th of January, we reported on the International Energy Agency’s forecast for oil in 2017, which predicted increased demand and rising prices.
After a group of major oil-producing nations agreed to limit supply at the end of 2016, this year was notable for the stabilization of oil prices — as well as a big increase in US oil production. The Chevy in Don McLean’s chart-topping hit on 19 January 1972 is likely to be guzzling US-made gas for a while yet! 🚗
19 February: Wannabe
On the 19th of February, we reported that American food giant Kraft Heinz had made a $143 billion move to take over Anglo-Dutch rival Unilever — only to stalk off when its offer was rebuffed.
Kraft Heinz isn’t the only disappointed suitor. On 19 February 1997, the Spice Girls were top of the US charts, listing a good dozen attributes that they really, really wanted. And they didn’t mention anything about fast-moving consumer goods. 🍪
2 March: Livin’ on a Prayer
On the 2nd of March, we reported that shares of Snap Inc., the parent company of messaging app Snapchat, had begun trading publicly — with its stock jumping more than 40% on the first day.
Sadly, that was about as good as it got for Snap in 2017 — its stock has subsequently slumped following disappointing user and earnings growth. Investors should have consulted their musical horoscopes: on 2 March 1987, Bon Jovi had the biggest song in the US with an aptly titled number: Snap! 📸
24 May: Get Busy
On the 24th of May, we reported that SoftBank, the Japanese telecom and tech conglomerate, had quietly bought a $4 billion stake in US chipmaker Nvidia soon after launching its $93 billion tech-focused Vision fund — the world’s biggest.
2017 was a busy year for SoftBank, as it invested in OneWeb, Uber and more. You know who else gets busy? Sean Paul. He had a US #1 hit with the song back in May 2003. Shake that thing, SoftBank. 💳
21 June: Blurred Lines
On the 21st of June, we reported that Uber’s co-founder and CEO, Travis Kalanick, had resigned following months of scandal.
Perhaps the company shouldn’t have copied its ethics manual from the US Number One on 21 June 2013 — Robin Thicke’s (and T.I.’s, and Pharrell Williams’) notorious hit “Blurred Lines”. Boob-er, indeed. 😑
2 August: Genie in a Bottle
On the 2nd of August, we reported that CBOE, one of the biggest operators of stock exchanges in the world, was entering the Bitcoin market — opening the door to institutional interest in the cryptocurrency.
When the annals are compiled at the end of days, 2017 will go down as the year Bitcoin really took off. The genie is now well and truly out of the bottle — as Christina Aguilera put it in her US chart topper on 2 August 1999, you’ve got to rub it the right way. 🍾
10 September: Upside Down
On the 10th of September, we reported the news that hackers had stolen data on as many as 143 million customers of credit-reporting company Equifax.
You could say that Equifax’s servers were ransacked — in other words, they were turned upside down; in and out; round and round. Hang on a second — that’s exactly what Diana Ross was singing about at the top of the US charts on 10 September 1980… 🙃
20 September: Play That Funky Music
On the 20th of September, we reported that the US Federal Reserve (“the Fed”) would start reversing quantitative easing, the emergency measure used by central banks around the world to combat the 2009 financial crisis.
The move was a sign of the Fed’s confidence in the strong growth of the global economy, which began to get its groove back in 2017. Wild Cherry had been trying to get the party started since they were topping the charts on 20 September 1971… 🕺
3 October: Gold Digger
On the 3rd of October, we reported that the EU was forcing Amazon to pay hundreds of millions of euros in “back taxes” to compensate for an “unfair” tax deal Amazon had with Luxembourg. It was a “bad” year for tech firms in Europe: in June, Google owner Alphabet was fined €2.4 billion for abusing its dominant position in internet search.
Back on 3 October 2005, there was another prominent complaint of unduly severe financial penalties — but this one came from Kanye. 💰
21 November: Under Pressure
On the 21st of November, we reported that the US government’s Department of Justice was suing to block AT&T from taking over Time Warner on competition grounds — pushing down both companies’ stocks.
What do you know? On that very day back in 1981, Queen and David Bowie were riding high in the UK with “Under Pressure”. At least one partnership worked out. ⚖
26 November: The Time of My Life
On the 26th of November, we reported that the US stock market scaled new heights — capping a year in which share prices worldwide soared to record highs. 📈
Tech stocks were particular winners in 2017, with the likes of Facebook and Amazon leading the way. Overall, you could say that stock markets in 2017 had the time of their lives. At least, that’s how Bill Medley and Jennifer Warnes’ Dirty Dancing hit put it at the top of US charts on 26 November 1987.
4 December: Are You Lonesome Tonight?
On the 4th of December, we reported that healthcare company CVS had agreed to buy American insurer Aetna for a robust $69 billion in 2017’s biggest deal.
And on 4 December 1960, a certain Elvis Presley was sitting pretty at Number One in the US charts with “Are You Lonesome Tonight?” — a moving paean to passionate love, sorry, corporate synergy. Uh-huh-huh. 🕶
14 December: Family Affair
Rounding off a busy year for dealmakers, on the 14th of December, we reported that Disney had agreed to buy the film and TV assets of Rupert Murdoch’s 21st Century Fox for a whopping $66bn.
The big question now for the Murdoch media empire is which of Rupe’s children will take over at the helm. For, as Sly and the Family Stone sang at the top of the US charts on 14 December 1971, it’s a family affair… 👨👩👧👦
So there you have it: finance doesn’t have to be dull. Turn up your knowledge to 11 in 2018 and sign up for our free daily email at www.finimize.com! 💸
