Reported 29 days ago
Air Lease Corp has secured an insurance payout of $328.5 million related to aircraft that were stuck in Russia due to sanctions following the Ukraine invasion. Initially, they filed a $791 million claim as Russia became a crucial market for aircraft leasing before the conflict. Despite the return of $424.3 million so far, negotiations with other insurers are ongoing.
Source: YAHOO
Reported 29 days ago
In February, electric vehicle sales for Tesla fell behind Volkswagen and BMW in Europe, as data from JATO Dynamics indicated a 44% drop in Tesla's registrations compared to the previous year, leading to a market share decline to 9.6%. Volkswagen's electric sales surged by 180%, while BMW and its Mini brand also reported substantial sales, reflecting rising competition from both established brands and Chinese manufacturers in the electric vehicle market.
Source: YAHOO
Reported 29 days ago
Ant Group, supported by Jack Ma, has developed AI training techniques using Chinese-made semiconductors that could reduce costs by 20%. Utilizing a Mixture of Experts machine learning approach, the company aims to compete with global leaders like Nvidia and Google while enhancing its AI services across various sectors, particularly healthcare. Their innovative methods have shown promising results, potentially marking a significant step for China's self-sufficiency in AI technology.
Source: YAHOO
Reported 29 days ago
Mexico's inflation rate fell to 3.67% in March, lower than analysts' expectations, as the central bank prepares for a potential sixth rate cut. Core inflation decreased to 3.56%, prompting speculation about a 50 basis-point reduction in borrowing costs. This decision aims to alleviate pressures from a weakening economy, with analysts forecasting inflation to align with targets over the next few years.
Source: YAHOO
Reported 29 days ago
As potential homebuyers continue to face pricing challenges and high mortgage rates, Jenna Stauffer of Sotheby's International Realty offers valuable insights and tips to navigate the current US housing market amidst economic uncertainty.
Source: YAHOO
Reported 29 days ago
Gold Road Resources Ltd. has declined a A$3.3 billion ($2.1 billion) takeover offer from Gold Fields Ltd., with the board citing the proposal as 'extremely disappointing' and undervaluing the company. Gold Fields, which has a partnership in Gold Road's Gruyere mine, seeks to consolidate its 50% interest, but Gold Road has proposed buying out Gold Fields' stake instead. This rejection comes amid rising gold prices, which have revitalized mining deals.
Source: YAHOO
Reported 29 days ago
23andMe's stock plummeted on Monday following its announcement of a Chapter 11 bankruptcy filing to sell its assets and the resignation of CEO Anne Wojcicki. Following these developments, shares fell over 40% in premarket trading, marking a significant decline from its past market value of $6 billion. Wojcicki stated her intention to participate as a bidder in the bankruptcy auction process.
Source: YAHOO
Reported 29 days ago
Goldman Sachs reveals that global hedge funds have consistently sold European stocks for the second week in a row, targeting financial, materials, energy, and industrial sectors, as they predict prices will decline. Key markets affected include Germany, Italy, the Netherlands, Denmark, and the UK, with significant short positions emerging in companies like Schroders and Kingfisher. The hedge fund activity shows a shift towards specific stocks rather than broader indices.
Source: YAHOO
Reported 29 days ago
Pat Gelsinger, the former CEO of Intel, has joined Gloo, a Colorado-based company that provides technology tools for Christian churches, as its head of technology and executive chairman. In this new role, he will help develop AI tools like virtual assistants and chatbots. Gelsinger has been involved with Gloo since 2018 and aims to leverage technology to enhance connections within faith communities.
Source: YAHOO
Reported 29 days ago
India's securities regulator has raised the threshold for global funds, exempting those with less than 500 billion rupees in assets from stringent disclosure requirements. This change, driven by a 13% rise in market value since the rules were implemented in November 2023, comes as foreign capital withdrawals have surged, prompting calls for a more inviting environment for international investors.
Source: YAHOO
Reported 29 days ago
Brazil's Gol airline announced it has reached an exit financing commitment with unnamed investors, aimed at exiting Chapter 11 bankruptcy. The agreement involves the purchase of up to $1.25 billion of debt instruments as part of a $1.9 billion restructuring process to manage its financial obligations.
Source: YAHOO
Reported 29 days ago
The Russian central bank has issued a warning to the Kremlin regarding the risks of a prolonged low oil price cycle, citing potential actions by the U.S. and OPEC that could flood the oil market, similar to the price collapse of the 1980s that contributed to the Soviet Union's collapse. The bank's concerns, presented to Prime Minister Mikhail Mishustin, highlight existing economic vulnerabilities, including rising production outside OPEC and high spare capacity within the organization, which could threaten Russia’s economic stability reliant on oil revenue.
Source: YAHOO
Reported 29 days ago
Cybersecurity firm Rapid7 has agreed to add three new directors to its board, including a partner from activist investor Jana Partners, as part of a settlement aimed at enhancing leadership and operations. This move comes after Jana's push for improvements to increase share value amid significant stock price declines.
Source: YAHOO
Reported 29 days ago
Heathrow Airport defended its operations during a recent blackout caused by a fire at a power substation, asserting that it lacked sufficient backup power to remain open. The airport faced scrutiny for its redundancy systems and leadership decisions as critics noted flights were abruptly halted and CEO Thomas Woldbye left early in the crisis. An independent investigation is set to examine the incident and its impacts as the airport stabilizes operations.
Source: YAHOO
Reported 29 days ago
US stock futures surged on Monday amid reports that President Trump's upcoming tariffs will be more targeted than previously threatened, easing investor concerns over a trade war's impact on the economy. The Dow Jones and S&P 500 saw increases of 0.7% and 0.9%, respectively, while Nasdaq futures led with a 1.1% gain. Economic indicators and earnings reports from major companies are anticipated in the coming days, further shaping market expectations.
Source: YAHOO
Reported 29 days ago
SAP SE has overtaken Novo Nordisk A/S to become Europe’s most valuable publicly traded company, with a market valuation of approximately €312 billion. The German software company's shares have risen significantly due to increased cloud sales and AI offerings, while Novo's stock has declined due to disappointing product trials. SAP's growth is expected to continue, driven by robust demand in the US market and ongoing innovations.
Source: YAHOO
Reported 29 days ago
Analysts are expressing caution regarding U.S. corporate earnings for the first quarter of 2025, attributing concerns to potential global trade wars spurred by Trump administration policies. Major companies like Apple, Tesla, and Ford have contributed to lowered earnings estimates, with S&P 500 forecasts revised down 4.5 percentage points since January. Earnings growth for these companies is expected to decline to 7.7% year-over-year, marking the lowest since Q3 2023 and a sharp drop from previous quarters. Fears of economic recession due to tariffs and government cutbacks are affecting investor sentiment as the earnings reporting season approaches.
Source: YAHOO
Reported 29 days ago
Tesla announced it will not proceed with the trial of its Full Self-Driving feature in China until it receives regulatory approval. The free trial, initially set to run from March 17 to April 16, was paused following complaints. Tesla aims to fully launch the driving-assistance technology this year and is collaborating with Baidu to enhance its system, facing challenges due to China's strict data laws.
Source: YAHOO
Reported 29 days ago
Morgan Stanley strategists, led by Michael Wilson, suggest that a weaker dollar could enhance the earnings outlook for US stocks, possibly reversing the trend of global capital rotation observed this year. With the S&P 500 facing a correction and US stock holdings significantly reduced, there are indications that capital may return to the US market as high-quality stocks regain strength and performance improves. Wilson's team sees the potential for a rebound in the S&P 500 amid positive seasonal trends and investor flows.
Source: YAHOO
Reported 29 days ago
President Donald Trump is set to reveal a more focused package of tariffs on April 2 than previously threatened, possibly alleviating market fears of a widespread trade war. While the upcoming 'Liberation Day' announcement will still represent a significant increase in tariffs, it will specifically target certain nations and exclude some allies. Officials highlight that this approach marks a shift from Trump's initial broad tariffs proposal and suggests ongoing negotiations about implementation.
Source: YAHOO
Reported 29 days ago
Airbus and Boeing are gearing up for a significant increase in jet production, aiming for around 100 planes each month by utilizing lighter plastic materials and advanced robotic assembly methods. With a strong emphasis on composites and thermoplastics, both companies are exploring innovative manufacturing techniques to expedite the production of their next-generation aircraft, despite ongoing supply chain challenges. While the current focus is not on launching new models immediately, industry experts highlight this as a crucial evolution in aerospace manufacturing to meet rising global demand.
Source: YAHOO
Reported 29 days ago
Xiaomi Corp. has initiated a significant share sale targeting up to $5.3 billion to fund its electric vehicle expansion. Offering 750 million shares at a discount to recent prices, the company is leveraging a surge in its stock value and heightened investor interest in Hong Kong's recovering market. This initiative aligns with Xiaomi's ambitious growth strategy following impressive revenue increases and plans to enhance its production capabilities.
Source: YAHOO
Reported 29 days ago
US Treasuries experienced a decline as investors shifted to riskier assets following reports that President Trump's upcoming tariffs might be more targeted than expected. The yield on the 10-year note rose to 4.29% amid easing concerns over global trade impacts. Analysts suggest that despite the sell-off in equities, particularly in tech, a potential overestimation of tariff risks may lead to a market rebound. Economic indicators signal diminishing confidence, prompting expectations of lower US yields.
Source: YAHOO
Reported 29 days ago
23andMe, the DNA testing company, has filed for bankruptcy amid declining market value, a major data breach, and weak demand for its products. CEO Anne Wojcicki resigned following several failed attempts to secure a buyout as the company faces significant financial challenges, including a $30 million settlement related to the breach. Despite these issues, 23andMe has secured $35 million in financing and plans to continue operations during the sale process.
Source: YAHOO
Reported 29 days ago
China's Vice Premier He Lifeng met with CEOs from companies like Apple, Pfizer, and Cargill to affirm the country's business potential. He emphasized China's commitment to improving the business environment and welcomed foreign investments, describing the economy as resilient. This meeting coincided with the China Development Forum, where discussions on market openness and economic policies took place, despite fewer American CEOs attending compared to last year.
Source: YAHOO