Reported 1 day ago
A recent report by the International Federation of Robotics reveals that China has surpassed Germany in industrial robot usage, highlighting the increasing automation challenges for Europe’s largest economy. With a robot density of 470 robots per 10,000 workers in 2023, China trails only South Korea and Singapore. Germany, with a density of 429 robots, faces fierce competition from China, contributing to its anticipated economic contraction for a second consecutive year.
Source: YAHOO
Reported 1 day ago
Volkswagen's plans to close factories in all scenarios have sparked a significant conflict with labor representatives, raising concerns about potential strikes. Works council chief Daniela Cavallo criticized the proposals as crossing several unacceptable lines and called for a comprehensive future plan for all sites ahead of crucial negotiations.
Source: YAHOO
Reported 1 day ago
Enbridge and Oneok are two resilient companies that offer durable dividends and have shown consistent earnings growth over the decades despite economic challenges. Enbridge has maintained its dividends for over 69 years and boasts a stable earnings profile, while Oneok has achieved impressive growth in adjusted EBITDA and sustained dividends for over 25 years. Both companies are expected to continue increasing their dividends, making them excellent long-term investment choices for income-seeking investors.
Source: YAHOO
Reported 1 day ago
Bank Indonesia has signaled limited scope for further interest rate cuts as global risks rise, particularly from political developments in the U.S. and a strengthening dollar. The benchmark BI-Rate remains unchanged at 6% amidst concerns over the rupiah's value, which is under pressure as it approaches 16,000 per dollar. While inflation remains manageable, the central bank is focusing on maintaining currency stability in the face of uncertain global dynamics and is prepared to intervene in the market to support the rupiah.
Source: YAHOO
Reported 1 day ago
Walmart and Lowe's have voiced concerns that the tariffs proposed by President-elect Donald Trump could significantly increase product costs, jeopardizing consumer recovery from inflation. Walmart's CFO emphasized historical instances of tariffs leading to higher prices, while Lowe's pointed out that a substantial portion of their goods is sourced internationally, indicating potential cost increases. As retailers prepare for these changes, analysts note that the impacts of such tariffs may serve as both a bargaining chip and a source of inflationary pressures on consumers.
Source: YAHOO
Reported 1 day ago
The U.S. Department of Justice is poised to request the breakup of Google, following a successful trial that labeled the company as an illegal monopoly. The DOJ is expected to submit a detailed plan in court, potentially including the sale of Google's Chrome browser and modifications to its Android operating system. This move reflects the Biden administration's aggressive stance on antitrust actions against major tech firms. The ultimate decision will rest with Judge Amit Mehta, who has previously supported the DOJ's monopoly claims, with a remedies hearing scheduled for April 2025.
Source: YAHOO
Reported 1 day ago
Melissa Teo and Bing Chen have left their roles as co-heads for foreign-exchange and interest rates at Societe Generale in Greater China, as confirmed by sources. Both were based in Hong Kong, with Teo having joined the firm in 2010 after previously working at Merrill Lynch and RBC Capital Markets, while Bing Chen came from UBS Group AG. The firm declined to comment on individual personnel matters.
Source: YAHOO
Reported 1 day ago
Gold prices have eased from a one-week high due to a strengthening U.S. dollar, with spot gold dropping 0.4% to $2,622.22 per ounce. While the increase in safe-haven demand related to the Russia-Ukraine conflict has limited further declines, expectations surrounding U.S. interest rates and profit-taking have contributed to the downward movement. Analysts suggest that geopolitical uncertainty will continue to support gold market sentiment despite potential short-term decreases.
Source: YAHOO
Reported 1 day ago
A Reuters poll indicates that the U.S. could impose tariffs nearing 40% on Chinese imports as early as 2025, risking a reduction in China's economic growth by up to 1 percentage point. President-elect Donald Trump, aiming to reinforce his 'America First' agenda, will likely avoid initiating blanket tariffs of 60%. Despite recent stimulus efforts, China may struggle to offset potential export declines as tariffs loom, leading economists to expect a continued decrease in growth rates.
Source: YAHOO
Reported 1 day ago
Warren Buffett, renowned for his contrarian investment philosophy, is signaling a warning to Wall Street as he exhibits fear while many investors are becoming overly greedy. Over the past eight quarters, he has sold off stocks and amassed a record cash reserve of over $325 billion. With the S&P 500 nearing all-time highs and premium valuations, Buffett's actions suggest caution is warranted. Investors are advised to be selective, focusing on stock valuations and maintaining cash reserves for potential market downturns, mirroring Buffett's strategy of being cautious when others are greedy.
Source: YAHOO
Reported 1 day ago
Nokia announced on Wednesday that it has secured a multi-billion dollar deal with Bharti Airtel for the provision of 4G and 5G equipment. This agreement comes as part of a push to expand Airtel's network in India, following increased demand in the region that has helped both Nokia and its competitor Ericsson balance their business amid weaker demand in the U.S.
Source: YAHOO
Reported 1 day ago
Xpeng, the Chinese electric vehicle manufacturer, is anticipated to achieve profitability by the end of 2025, according to President Brian Gu. He cited strong demand for new models and expansion into international markets as key factors. This milestone, if reached, would make Xpeng the first Chinese automaker to profit primarily from electric vehicle sales, with plans for new model launches and increased R&D investments in AI and smart driving systems to bolster growth.
Source: YAHOO
Reported 1 day ago
Chinese stock markets are seeing a surge in speculative investments, attracting both local and some global funds. Following recent economic stimulus from the Chinese government, stocks in mainland China have reached new heights, although foreign investors are pulling back. Retail investors are particularly active, with significant capital flowing into tech stocks as they anticipate a recovery. Despite concerns over U.S.-China trade tensions, there's optimism about future government support and market growth.
Source: YAHOO
Reported 1 day ago
French fuel distributor Rubis SCA is reportedly considering a sale following a significant drop in its share value over the past six years. The company is in talks with advisers and potential buyers, although it has not made any final decisions. Rubis, which distributes fuel products across Europe, Africa, and the Caribbean, faces pressure from activist investors to change its governance and strategy after experiencing a steep decline in stock prices.
Source: YAHOO
Reported 1 day ago
Greek public and private sector workers participated in a nationwide general strike on November 20, 2024, to protest against the high cost of living and to demand collective wage agreements. The strike disrupted services across the country, including public transport and ferry services, with medical staff and teachers also joining the protests. Labor unions criticized the government for failing to address inflation and housing issues that have negatively affected workers' living standards, stemming from a decade-long financial crisis.
Source: YAHOO
Reported 1 day ago
UK inflation has risen to 2.3% in October, surpassing the Bank of England's 2% target, driven primarily by increased energy bills after a price cap increase. The Office for National Statistics reported that consumer prices index rose from 1.7% in September. The average household energy bill saw a £149 increase, along with a notable surge in airfares. Analysts predict that this rise in inflation might hinder future interest rate cuts by the Bank of England as economic conditions remain challenging for families.
Source: YAHOO
Reported 1 day ago
Bridgewater Associates' Bob Prince stated that President-elect Donald Trump's economic policies could lead to higher inflation, prompting Trump to consider a Federal Reserve chairman who would accommodate this new environment. As inflation could potentially rise towards 3%, Trump may seek flexibility in interest rates to support fiscal stimulation, tariffs, and immigration policies. Investment experts warn that inflation is likely to persist, influencing market dynamics and possible growth in equity sectors.
Source: YAHOO
Reported 1 day ago
STMicroelectronics has announced a delay in its long-term financial targets to 2030, aiming for $20 billion in annual revenue and over 30% operating margin, following three guidance cuts this year due to struggles in the industrial and automotive chip markets. Analysts view this as a positive adjustment, indicative of cyclical rather than structural challenges, while the company aims to achieve intermediate targets of $18 billion and a 22-24% operating margin for 2027-2028.
Source: YAHOO
Reported 1 day ago
UK inflation surged to a six-month high of 2.3% in October, driven by higher domestic energy bills and persistently high inflation in the services sector. This upturn exceeds the Bank of England's target rate of 2%, leading to expectations that borrowing rates will remain steady despite recent increases. With the government announcing significant extra spending, economists foresee potential for continued inflationary pressures in the near future.
Source: YAHOO
Reported 1 day ago
Russian gas exports to Europe via Ukraine continued to flow steadily, despite Gazprom's recent halt in supply to Austria's OMV due to a contractual disagreement. Data indicated consistent gas volumes, with some adjustments in nominations for flows to Austria and the Czech Republic. The Slovak state-owned firm SPP confirmed ongoing gas receipt from Russia, suggesting continued European interest in Russian gas.
Source: YAHOO
Reported 1 day ago
UK software company Sage Group announced a 21% rise in full-year operating profit to £529 million, driven by an increase in margins and a 9% growth in revenue. The firm plans to continue this momentum with expectations of further margin improvement and projects organic revenue growth of 9% or more for the upcoming year. Additionally, Sage has increased its dividend and launched a £400 million share buyback, underscoring its strong cash generation.
Source: YAHOO
Reported 1 day ago
Japanese Prime Minister Shigeru Ishiba reached an agreement with a key opposition party to include tax reform discussions, particularly on raising the tax-free income ceiling and cutting gasoline taxes, in his economic stimulus package. The deal allows him to finalize the stimulus, which aims to regain public support after his party lost its majority in the recent election. The opposition's Democratic Party for the People plans to expedite tax reform discussions by year-end, and the stimulus is expected to benefit low-income households and support sectors like semiconductors and artificial intelligence.
Source: YAHOO
Reported 1 day ago
SMIC's shares have surged 120% in recent months, surpassing major competitors like Nvidia, fueled by China's self-reliance in semiconductor manufacturing. However, analysts warn of potential overvaluation as geopolitical tensions and competition from global chipmakers like TSMC could impact SMIC's profitability. Despite strengths in domestic demand and recent government support, concerns remain over China's capabilities in advanced chip production due to US restrictions.
Source: YAHOO
Reported 1 day ago
Ukraine has made significant strides in developing clean energy sources that are more resilient to destruction from Russian military strikes. Despite ongoing attacks targeting traditional energy infrastructure, the decentralized nature of wind and solar power allows for quicker recovery and restoration of electricity. Leaders like Maxim Timchenko of DTEK highlight the effectiveness of renewable energy in maintaining power supply, even in a war-torn environment, showcasing a shift towards sustainable energy solutions in the face of adversity.
Source: YAHOO
Reported 1 day ago
Iraq has initiated its first nationwide population census in almost four decades, aiming to improve data collection and planning in a country affected by decades of conflict. This census, which will employ advanced technology, is expected to influence resource distribution, budget allocations, and development planning while addressing concerns from minority groups about their political representation. Conducted under a national curfew with international oversight, the counting method will include internally displaced persons based on their current residences, excluding those living abroad. The last national census was conducted in 1987, making this a significant event for Iraq’s future.
Source: YAHOO