Reported 20 days ago
Sweden's EQT AB has made a significant bid of $1.4 billion to take control of OEM International, having already secured 72.5% of shareholder votes needed for the acquisition. The offer stands at 110 kronor per share, notably lower than the previous market value, and aims to consolidate OEM under EQT's ownership. Despite backing from key shareholders, the independent committee of OEM cautioned that the offer is financially unfair and has urged shareholders to hold off on accepting the bid.
Source: YAHOO
Reported 20 days ago
Thames Water's financial troubles have intensified as its swap holders, banks involved in derivative agreements, have formed a group to negotiate separately with the struggling utility. This group, with liabilities valued around £1.3 billion, is seeking to address their interests amidst Thames Water's efforts to secure emergency funding and restructure over £15 billion in outstanding debt. The situation raises concerns about the impact on senior creditors due to the super-senior swap liabilities, which complicates the overall debt negotiations.
Source: YAHOO
Reported 20 days ago
As votes come in for the 2024 election, experts like David Kostin and Kevin McCarthy share their focus areas, including currency market reactions, key battleground states such as Pennsylvania, and the potential impacts on global economic policy and stock markets. With the possibility of a split Congress, experts analyze how this might affect executive actions and tariffs, while also considering the implications for younger voters and the ongoing volatility in financial markets.
Source: YAHOO
Reported 20 days ago
As Election Day unfolds, Vice President Kamala Harris campaigns in key swing states, emphasizing her commitment to democracy and health care while former President Donald Trump encourages a peaceful voting environment despite earlier controversies. With over 83 million early votes cast, anxieties linger about the election outcome and potential unrest, as both candidates offer contrasting visions for America's future amidst a background of rising global tensions and internal challenges.
Source: YAHOO
Reported 20 days ago
As the results of the closely contested 2024 U.S. election begin to emerge, currency traders are bracing for significant market volatility, with options for the euro and Mexican peso reaching their highest levels since 2016. The election between Kamala Harris and Donald Trump has left traders hedging against potential overnight price swings, particularly given differing economic expectations tied to the candidates, with Trump's policies expected to increase inflation and bond yields, while Harris is seen as continuing the current agenda. Analysts predict that volatility will remain high in the coming weeks as uncertainties linger.
Source: YAHOO
Reported 20 days ago
Confluent (NASDAQ: CFLT), a leading provider of data streaming technology, sees strong growth potential despite its stock being down 72% from its peak in 2021. The company is benefiting from increasing demand for data streaming, particularly as AI technology becomes more integrated into businesses. With a projected market opportunity of $100 billion and impressive revenue growth of 25% in Q3 2024, the stock has received a bullish consensus from Wall Street analysts, signaling it may be a prime buying opportunity for investors.
Source: YAHOO
Reported 20 days ago
Despite facing steep declines and scrutiny in the semiconductor market, Intel's recent quarterly results and product launches have sparked optimism for a turnaround. The company reported better-than-expected revenue and profit for Q3, along with promising guidance for the fourth quarter. New product launches, particularly in laptops and server solutions, are showing profitability, while Intel's ambitious 18A manufacturing node is on track, garnering interest from major clients like Amazon. These developments suggest that Intel may be poised for recovery as it prepares for 2025.
Source: YAHOO
Reported 20 days ago
With Election Day approaching, the Federal Reserve faces significant implications depending on the election outcome. If President Trump wins, he might attempt to exert political influence over the Fed, raising concerns about its independence, while his potential nominees signal a shift in monetary policy. In contrast, Kamala Harris’s campaign suggests a more hands-off approach, respecting the Fed's independence and its current leadership. The election will not only determine the next president but also influence monetary policy, interest rates, and economic stability.
Source: YAHOO
Reported 20 days ago
The Vanguard Information Technology ETF (VGT) offers a way to invest in a wide array of technology stocks, with major holdings in Apple, Microsoft, and Nvidia. Despite the risks associated with sector-specific ETFs, its past performance shows an average return of 20.37% annually over the last decade. With an initial investment of $1,000 and no further contributions, you could potentially grow that amount to around $143,000 in 30 years, making it a potentially lucrative option, especially with additional monthly investments.
Source: YAHOO
Reported 20 days ago
Despite increasing debt and a declining oil outlook, Saudi Aramco has decided to uphold its $31 billion dividend, which is crucial for Saudi Arabia's government finances. The company, facing a net debt of $8.9 billion and declining profits, is paying out more than it earns to support state budgets amid ambitious economic plans that have expanded the deficit. Concerns over oil demand and reduced pricing are putting pressure on Aramco's financial stability, leading to speculation about future sustainability of the payout.
Source: YAHOO
Reported 20 days ago
Chinese stocks have experienced a significant rally, with the CSI 300 Index reaching its highest level in nearly a month, driven by positive service sector data and renewed stimulus expectations from the government. Optimism around Beijing's economic revival efforts, including plans to increase local government debt limits, contributed to the market upturn, alongside changing sentiments regarding the upcoming US presidential election.
Source: YAHOO
Reported 20 days ago
The UK's Competition and Markets Authority has indicated that the $19 billion merger between Vodafone and Hutchison's Three UK is likely to be approved, as the country's need for investment surpasses short-term competition concerns. This marks a shift in the regulator's stance, which traditionally favored maintaining at least four mobile operators to keep prices low. The merger aims to bolster the UK's digital infrastructure and enhance investment in 5G, with a final decision expected by December 7.
Source: YAHOO
Reported 20 days ago
Nintendo has reduced its operating profit forecast for the fiscal year ending March 2025 by 10% to 360 billion yen, due to a significant drop in sales of its Switch console, which sold 4.7 million units in the first half of the year, a decline from 6.8 million units a year prior. The company also lowered its full-year sales expectations for the console by 7% and adjusted annual software sales projections down by 3%. Despite stable demand for a console in its eighth year, Nintendo's president acknowledged that sales have not met expectations, prompting the forecast revisions.
Source: YAHOO
Reported 20 days ago
Kioxia, the Japanese chipmaker backed by Bain Capital, anticipates that the demand for flash memory will nearly triple by 2028, driven largely by the growth of artificial intelligence. Following a challenging period, the company is planning a significant expansion of its manufacturing capacity in Kitakami, Iwate Prefecture. Although production at the new facility has been delayed until autumn 2025, Kioxia is preparing to meet increasing market needs, especially due to the rising investment in AI and its potential impact on smartphones and PCs.
Source: YAHOO
Reported 20 days ago
Nintendo reported a staggering 60% drop in profits for the first half of the fiscal year, attributing it to declining demand for its aging Switch console, which has been on the market for eight years. The company's profit for the April-September period was 108.7 billion yen ($715 million), amid a 34% decrease in sales revenue. Global sales of the Switch fell to 4.7 million units, a significant drop from the previous year's figures. Despite this, Nintendo remains committed to its sales goals and plans for the future, even as it adjusts projections for sales and profits.
Source: YAHOO
Reported 20 days ago
BlackRock has pledged to keep Spanish utility Naturgy listed for at least three years after acquiring a 20.64% stake, ensuring support for its investment plans and dividend policy, as mandated by the Spanish government for the approval of the $12.5 billion deal.
Source: YAHOO
Reported 20 days ago
The emerging alliance between Russia and North Korea is complicating Chinese President Xi Jinping's efforts to maintain a neutral stance on the Ukraine conflict while improving relations with the U.S. As North Korea sends troops to Russia, concerns grow over an escalation of the war, putting pressure on China to leverage its influence. The partnership between Kim and Putin not only threatens China's economic stability but also undermines its stance on regional military alliances, complicating Xi's diplomatic balancing act.
Source: YAHOO
Reported 20 days ago
Axiom Space, a U.S. startup developing a private space station, is in discussions with India's ISRO and private launch companies to potentially use Indian rockets for its missions. This comes after the U.S. and India signed a Space Flight Agreement, as Axiom seeks to diversify its supply chain amidst growing Indian private sector involvement in space. Despite India's increasing funding and efforts, it currently holds just a 2% share in the commercial space market.
Source: YAHOO
Reported 20 days ago
Air France KLM shares declined approximately 2% following Morgan Stanley's downgrade of the stock from 'equal weight' to 'underweight'. The investment bank noted that while the shares are historically not expensive, they trade at a significant premium compared to other major airlines, and the outlook for free cash flow appears challenging.
Source: YAHOO
Reported 20 days ago
Boeing's U.S. West Coast factory workers voted 59% in favor of a new contract, concluding a seven-week strike that disrupted jet production and caused financial strain for the company. The new agreement includes a 38% pay increase over four years, while the workers will not regain a previous pension but will receive increased 401(k) contributions. The strike, which was the largest in 16 years, cost Boeing approximately $100 million daily in lost revenue and has led to challenges in resuming production at pre-strike levels.
Source: YAHOO
Reported 20 days ago
Foxconn, the largest contract electronics manufacturer and major iPhone assembler for Apple, announced a record revenue increase of 8.59% year-on-year for October, totaling T$804.8 billion ($25.20 billion). The company expects continued growth in both the fourth quarter and compared to the previous year.
Source: YAHOO
Reported 20 days ago
The South Korean government has fined Meta Platforms approximately $15 million for illegally collecting sensitive user data from around 980,000 Facebook users without their consent, and subsequently sharing this data with about 4,000 advertisers. The data included personal details about users' religion, political views, and sexual orientation, leading to categorization based on sensitive characteristics. Meta also failed to comply with user requests for data access and allowed personal information of some users to be leaked in a hacking incident.
Source: YAHOO
Reported 20 days ago
Nintendo has revised its annual profit forecast downwards, reporting its fifth consecutive quarter of profit declines due to weakening demand for its Switch console. The company anticipates selling only 12.5 million Switch units this fiscal year, down from an earlier estimate of 13.5 million. Analysts suggest the Switch is nearing the end of its product lifecycle, especially as competitors introduce more advanced gaming systems. In response, Nintendo is focusing on leveraging its intellectual properties with new products and movies.
Source: YAHOO
Reported 20 days ago
FineToday Holdings Co., a Japanese personal-care company, has chosen banks led by Daiwa, Mizuho, SMBC Nikko, and UBS to assist in a potential IPO by year-end, aiming to raise up to $1 billion. The company, which emerged from a spin-off of Shiseido's personal-care division in 2021, is seeking a valuation of $2 billion to $3 billion for the public offering, although final details are yet to be determined.
Source: YAHOO
Reported 20 days ago
French IT firm Atos has announced the sale of its Worldgrid business unit to Alten for €270 million, expecting the deal to close by the end of 2024. The sale marks a strategic move amid efforts to support Atos, a key player in Europe's software sector, as the company continues to face challenges. The Worldgrid unit, which employs 1,100 people, generated €170 million in revenue last year.
Source: YAHOO