Reported about 1 month ago
In the latest episode of Stocks in Translation, hosts Jared Blikre, Sydnee Fried, and editor Sam Ro analyze current stock market valuations amidst low consumer sentiment. They explore how investors might approach valuation metrics and differentiate between hard and soft economic data while discussing past trends and future earnings projections. The conversation emphasizes the importance of understanding valuation in the context of market uncertainty and investor perceptions.
Source: YAHOO
Reported about 1 month ago
French bank Societe Generale is set to introduce a dollar-backed stablecoin named 'USD CoinVertible' through its crypto subsidiary SG-FORGE. This initiative makes Societe Generale the first major European bank to enter the dollar-pegged stablecoin market. The cryptocurrency will be available on the Ethereum and Solana blockchains, with trading expected to begin in July, and will be managed by BNY Mellon as custodian for its reserves. Despite previously introducing a euro-based stablecoin in 2023, which saw limited adoption, Societe Generale aims to leverage this new offering for various financial transactions.
Source: YAHOO
Reported about 1 month ago
China is activating a $1.5 trillion housing provident fund to bolster its struggling housing market, providing an alternative to traditional bank mortgages. As banks become more cautious amid financial challenges, the fund offers lower interest loans, having surpassed banks in the volume of mortgages issued. Local governments are leveraging this initiative amid ongoing pressures in the real estate sector, although analysts caution it may not be sufficient to address the fundamental issues of demand driving market weakness.
Source: YAHOO
Reported about 1 month ago
British retailer Marks & Spencer has resumed online clothing orders after a 46-day suspension due to a cyberattack. The company is currently offering a selection of best-selling items and plans to expand its online range in the coming days. Although M&S aims to recover from an estimated £300 million loss due to the disruption, it faces challenges in restoring all services, including delivery to Northern Ireland and international orders.
Source: YAHOO
Reported about 1 month ago
比利时的Proximus与法国的Thales共同赢得了一项重要的北约合同，将负责到2029年底对北约的信息技术基础设施进行现代化升级。根据公告，Thales将提供安全的云基础设施，而Proximus将升级北约在荷兰海牙和比利时Braine l'Alleud的Wi-Fi网络，并提供5000台笔记本电脑。
Source: YAHOO
Reported about 1 month ago
Ryanair has agreed to acquire 30 LEAP-1B jet engines from CFM for $500 million, aiming to lower fuel consumption as it expands its fleet with 300 Boeing 737 MAX 10 aircraft starting in 2027. The new engines, which increase operational resilience and are expected to reduce fuel costs and CO2 emissions by up to 20%, will enhance Ryanair's position as Europe’s largest airline by passenger numbers.
Source: YAHOO
Reported about 1 month ago
Chinese state media has called for a crackdown on the practice of selling unused cars as second-hand vehicles, highlighting issues of price manipulation and market disruption. The People's Daily criticized this approach, known as zero-mileage used cars, for harming profits, distorting market data, and risking consumer benefits. Urging stricter regulations, the article emphasized the need for car manufacturers to focus on quality and innovation while combating excessive competition.
Source: YAHOO
Reported about 1 month ago
Macquarie Asset Management's South Korean industrial gas firm, DIG Airgas, valued at $3.6 billion, is attracting interest from prominent bidders including KKR, Brookfield, and Air Liquide, as the company prepares for a sale managed by Goldman Sachs and JPMorgan. With an EBITDA of approximately $170 million to $180 million, Macquarie expects non-binding bids this month from various infrastructure funds and global players in the gas industry.
Source: YAHOO
Reported about 1 month ago
Top Chinese beauty brands like Proya and S'Young are considering acquisitions of smaller foreign companies to expand their product offerings and mirror the success of global giants such as L'Oreal and Estée Lauder, especially as domestic growth slows due to economic challenges. Proya aims to enter the global top ten beauty firms with a revenue goal of $7 billion within ten years, while S'Young and Ushopal have already made notable international acquisitions. Analysts suggest that foreign acquisitions could diversify revenue but warn of the challenges encountered by Chinese firms in previous expansion attempts.
Source: YAHOO
Reported about 1 month ago
Hyundai Motor has secured a rare earths stockpile that can last approximately one year, insulating the company from current global supply chain disruptions linked to China's export restrictions. An insider revealed that Hyundai's proactive measures to diversify supply chains enable it to maintain stable production of electric and hybrid vehicles, outperforming competitors like Ford and BMW. The automaker also capitalized on a brief period when China relaxed its export limits to boost its inventories.
Source: YAHOO
Reported about 1 month ago
The American Chamber of Commerce in Taiwan has urged the U.S. government to treat Taiwan as a partner rather than an adversary, advocating for the removal of new tariffs, restoration of high-level cabinet visits, and a double taxation agreement. The Chamber emphasized Taiwan's role as a reliable ally in the Indo-Pacific and a significant investor in the U.S. economy. They plan to discuss these issues with U.S. officials to strengthen Taiwan-U.S. business relations amidst ongoing tariff negotiations.
Source: YAHOO
Reported about 1 month ago
As deflation grips China, consumers are increasingly opting for second-hand luxury items, with one store selling a Coach handbag for just $30. Factors such as wage cuts and declining property values are pushing shoppers to curtail spending, driving significant price competition across various sectors. The second-hand luxury market is booming, with discounts reaching unprecedented levels, raising concerns about its sustainability and the potential for deeper economic trouble.
Source: YAHOO
Reported about 1 month ago
Chinese electric vehicle manufacturers like BYD are not only leading in affordable EV production but are also becoming significant competitors in the self-driving car market. BYD's free 'God’s Eye' driver-assistance system has raised concerns for Tesla as its unique technology approach relies heavily on cameras, while competitor systems integrate various sensors at lower costs. As Tesla's sales decline amid a fierce price war in China, it faces increasing challenges from local brands, backed by government support and rapidly advancing technology, which threaten the company's future in the autonomous driving sector.
Source: YAHOO
Reported about 1 month ago
As US-China trade talks resume in London, investors are cautiously optimistic about potential improvements in the strained relations between the two economic powers. Asian stocks are on the rise, bolstered by President Trump's positive remarks following meetings with Chinese officials. With a looming deadline for tariff decisions and critical economic reports expected, market participants are closely watching for signs of progress, while the global economic impact of the trade war continues to be a concern.
Source: YAHOO
Reported about 1 month ago
In response to increasing anti-deportation protests in Los Angeles, the Trump administration deployed 700 Marines, heightening tensions with California officials, particularly Governor Gavin Newsom, who has initiated legal action against the federal mobilization. Protests, driven by fears of immigration raids, have spread to several major cities across the US, with accusations of the administration exacerbating the situation. While local officials argue that the military deployment is unnecessary and unconstitutional, Trump claims it is essential for restoring order.
Source: YAHOO
Reported about 1 month ago
China and the US continue trade talks to maintain a fragile truce, focusing on export controls and rare-earth materials. The US seeks to ease certain export restrictions in exchange for China's release of rare-earth minerals critical for electronics and manufacturing. As tensions rise over technology access and export licenses, experts highlight China's strategic control over rare earths as a significant bargaining chip. While China's economy faces challenges amid ongoing tariffs, officials have signaled willingness to enhance communication on trade-related issues.
Source: YAHOO
Reported about 1 month ago
High Liner Foods, a Canadian seafood company, is set to acquire the Mrs. Paul's and Van de Kamp's brands from Conagra Brands for $55 million, which includes about $36 million in inventory. This deal allows High Liner to fully own these established brands, enhancing its presence in the U.S. retail market. Conagra's decision to divest the brands is part of its strategy to focus on core business segments, especially after reporting a decline in sales and net income.
Source: YAHOO
Reported about 1 month ago
Woolworths has officially rebranded assets from Beak & Johnston as The Kitchenary, following regulatory approval for its acquisition. The Kitchenary consolidates various local convenience food brands and operates its production facility in Western Sydney, now producing over 800,000 chilled and frozen meals weekly for markets in Australia and New Zealand. The CEO announced that this change marks a significant step forward in Australian food manufacturing, backed by Woolworths' investment in local operations.
Source: YAHOO
Reported about 1 month ago
In its FY24 Sustainability Report, Tetra Pak announced a 25% reduction in greenhouse gas emissions across its value chain since 2019, and a 54% reduction in its operations. The company aims to achieve net-zero GHG emissions by 2030 and has launched initiatives, including new energy-efficient equipment, to support this goal. Additionally, Tetra Pak has invested in innovative packaging solutions and supported food production initiatives that improve energy efficiency and reduce waste.
Source: YAHOO
Reported about 1 month ago
UniCredit has received clearance from the European Commission for its proposed acquisition of Banco BPM, meaning no further in-depth investigation will occur. This approval follows earlier hurdles related to the Italian government's conditions under the Golden Power process. Despite this progress, UniCredit cannot finalize the takeover until these government-imposed constraints are resolved, as they could impact its operational freedom and compliance with both Italian and EU regulations.
Source: YAHOO
Reported about 1 month ago
Mexican beverage bottler Arca Continental has announced its acquisition of Tulsa-based vending business Imperial, though financial details remain undisclosed. This move is part of Arca's larger strategy to enhance its production and distribution capabilities, with significant investments planned for 2025, particularly focused on expanding operations in the US and Mexico. In 2024, the company reported a 10.9% increase in net sales, generating 237 billion pesos.
Source: YAHOO
Reported about 1 month ago
Kazakhstan is experiencing a consistent increase in electricity consumption due to industrial growth, urbanization, and rising living standards, with demand expected to reach 111 terawatt hours (TWh) by 2035. The industrial sector accounts for 56% of electricity usage, driven by mining, metallurgy, and oil refining, while the residential sector is also seeing a significant rise in energy needs. To meet this demand, the government plans to add at least 17.5 gigawatts of new power capacity by 2035, including contributions from gas, hydropower, coal, renewable energy, and nuclear sources.
Source: YAHOO
Reported about 1 month ago
Market Domination Overtime hosts Josh Lipton and Julie Hyman highlight important events on June 10, including GameStop's first-quarter earnings report, where the retailer has added over 4,700 bitcoins to its balance sheet. Additionally, the NFIB Small Business Optimism Index for May is expected to remain steady at 95.8, reflecting a cautious approach amidst current economic uncertainties. Apple’s Worldwide Developers Conference continues to showcase new innovations in its operating system.
Source: YAHOO
Reported about 1 month ago
Argentina's central bank has announced a repurchase agreement of up to $2 billion to bolster its foreign reserves, ahead of an impending review with the IMF regarding a newly signed $20 billion loan agreement. The initiative comes as the country reports $38.60 billion in reserves, just short of the $40 billion target.
Source: YAHOO
Reported about 1 month ago
United Natural Foods Inc, a major supplier for Whole Foods, revealed that a recent cyber incident disrupted its operations, leading the company to take certain systems offline after detecting unauthorized activity on June 5. This disruption has affected their ability to process and distribute customer orders, with expected ongoing impacts. The company's shares fell significantly following the announcement. United Natural Foods is the largest publicly traded distributor of healthy food options in the U.S. and Canada and recently extended its distribution agreement with Amazon-owned Whole Foods.
Source: YAHOO