Reported 30 days ago
In 2016, Donald Trump made various promises about tariffs and trade during his presidential campaign, pledging to impose tariffs on countries that manipulate trade to protect U.S. jobs. A review of his 2016 speeches reveals that, while some promises were fulfilled, such as introducing tariffs and renegotiating trade agreements, others, like specific duties on businesses moving jobs overseas, were not realized. Now running for president again, Trump plans to implement an expansive tariff agenda, signaling that trade remains a key part of his political strategy.
Source: YAHOO
Reported 30 days ago
For the first time, China's passive equity assets have outgrown those of active funds, reflecting a significant shift in investment trends as Chinese investors increasingly favor passive strategies amid frustrations with stock performance. As of the end of Q3, passive funds held 3.16 trillion yuan in onshore stocks compared to 2.84 trillion yuan in active mutual funds, driven largely by state funds and retail investors seeking opportunities in the market rebound.
Source: YAHOO
Reported 30 days ago
As Japan's Prime Minister Shigeru Ishiba faces potential ousting following the ruling party's poor electoral performance, various candidates are emerging as possible successors. Currently, Ishiba vows to stabilize the political landscape, but a critical leadership vote looms. Notable contenders from the Liberal Democratic Party and opposition include Sanae Takaichi, Yoshimasa Hayashi, Yoshihiko Noda, Yuichiro Tamaki, Katsunobu Kato, and Yoko Kamikawa, each bringing unique strengths and challenges to a potential new administration amid a shifting political environment.
Source: YAHOO
Reported 30 days ago
Warren Buffett's Berkshire Hathaway has 62% of its $313 billion portfolio invested in four major companies: Apple, American Express, Bank of America, and Coca-Cola. Apple, despite recent reductions in shares owned, remains the largest holding, followed by American Express, which has recently risen to second place. Bank of America has seen a decrease in its importance within the portfolio, while Coca-Cola, Buffett's longest-held investment, continues to be a reliable performer. These strategic choices reflect Buffett's value-driven investment philosophy.
Source: YAHOO
Reported 30 days ago
The UK's financial regulator has fined Wise Plc's CEO, Kristo Kaarmann, £350,000 ($453,565) for failing to disclose significant personal tax liabilities and being added to the public tax defaulters list. The Financial Conduct Authority noted Kaarmann's actions were 'careless' rather than deliberate, deriving from a fine imposed by HMRC for a capital gains tax oversight on a £10 million share sale in 2017. The investigation has been resolved, and the FCA confirmed Kaarmann remains fit to serve as CEO of Wise.
Source: YAHOO
Reported 30 days ago
Waaree Energies Ltd., India's largest solar panel manufacturer, saw its shares surge almost 56% in its trading debut following a successful $514 million IPO. The stock debuted at 1,503 rupees and peaked at 2,624.40 rupees, signaling a hopeful resurgence for the Indian IPO market after a previous setback. Investors are showing strong interest in the renewable energy sector, with Waaree's robust performance aligning with government goals to significantly increase renewable energy production.
Source: YAHOO
Reported 30 days ago
Nvidia's shares have seen a strong upward trend, with a 2.6% rise last week and a remarkable 186% increase in 2024. As the company moves to supply AI chips to tech firms in India and prepares for upcoming earnings reports from major players like Google, Apple, and Microsoft, the demand for its Blackwell chips is surging. Nvidia currently holds a market cap of $3.47 trillion, closely trailing Apple's, and is capitalizing on the ongoing AI boom with its dominant GPU technology.
Source: YAHOO
Reported 30 days ago
Cuckoo International, the Malaysian arm of South Korea's Cuckoo Holdings, intends to raise up to 750 million ringgit (approximately $172 million) through a planned initial public offering (IPO) in Kuala Lumpur next year. The IPO could value the company at around 3 billion ringgit, as it prepares to offer up to 222 million existing shares alongside 143 million new shares. This follows a strong performance of Cuckoo's shares in Seoul, which have appreciated by about 47% this year.
Source: YAHOO
Reported 30 days ago
Indian Prime Minister Narendra Modi and Spanish Prime Minister Pedro Sanchez inaugurated India's first private military aircraft plant in Vadodara, focusing on boosting local defense manufacturing. The Tata Aircraft Complex will produce the Airbus C-295 transport aircraft in partnership with Airbus Spain, enhancing India's aerospace capabilities and attracting further foreign investment. This move aligns with Modi's vision to transform India into a global industrial leader, as the country aims to increase private sector participation in defense manufacturing.
Source: YAHOO
Reported about 1 month ago
Republican vice presidential candidate JD Vance stated that Donald Trump would keep the United States in NATO if reelected, emphasizing the need for European allies, particularly Germany, to contribute more to defense. Vance highlighted that under Trump's pressure, NATO countries increased their defense budgets, but criticized the disproportionate burden on a few countries. He noted that Germany needs to enhance its security spending, underscoring that 23 out of 32 NATO members are expected to meet the alliance's defense spending goal of 2% of GDP this year.
Source: YAHOO
Reported about 1 month ago
Tropical Storm Trami has brought heavy rainfall to key coffee-growing regions in Vietnam just as the robusta bean harvest begins, with provinces like Gia Lai and Kon Tum experiencing up to 160mm of rain. While the coffee harvest season typically spans from October to April, farmers in Dak Lak province report that only 7% have started. The coffee association anticipates a production of about 27 million bags for the 2024-25 season, despite previous forecasts of 28 million by the USDA. The storm also followed severe flooding in the Philippines.
Source: YAHOO
Reported about 1 month ago
Lulu Retail Holdings Plc's initial public offering in Abu Dhabi, valued at $1.43 billion, sold out within an hour of opening, showcasing high demand that exceeded the available shares. This marks the largest IPO in the UAE for 2024, with the company planning to list 2.58 billion shares, aiming to grow its operations significantly in the Gulf region. Final pricing is set for November 6, while trading is expected to start on November 14.
Source: YAHOO
Reported about 1 month ago
Philips has significantly reduced its sales outlook for the year after experiencing a sharp decline in demand from China, prompting a 16% drop in its share prices. The company cited weakened consumer confidence and the effects of an anti-corruption campaign for the decreased orders, particularly in the personal health segment. Consequently, Philips now expects only modest sales growth for 2024, down from previous forecasts.
Source: YAHOO
Reported about 1 month ago
As car manufacturers Stellantis and Aston Martin face downgrades in their forecasts prior to earnings reports, the broader automotive industry faces challenges, particularly from weak demand in the US for Stellantis and downturns in China for Aston Martin. Additionally, UBS CEO evaluates future prospects following its Credit Suisse acquisition, while other companies, including BP, Novartis, and BASF, navigate their own hurdles in the evolving economic landscape.
Source: YAHOO
Reported about 1 month ago
Swiss firms, including ABB and Kuehne+Nagel, are increasingly investing in India, driven by a forthcoming $100 billion trade agreement that will reduce tariffs and support trade over a population market of 1.4 billion. As companies seek to diversify from China amid economic slowdowns, India's robust growth, supported by expectations of a 7% economic increase this year, positions it as an attractive destination. The trade deal aims to foster investments, potentially creating 1 million jobs, while Swiss businesses like ABB are expanding local manufacturing and R&D facilities.
Source: YAHOO
Reported about 1 month ago
Belgian central bank chief Pierre Wunsch stated that there is no urgency for the European Central Bank (ECB) to accelerate interest rate cuts, even suggesting a temporary undershoot of its inflation target could be acceptable. He emphasized strong employment and rising wages, asserting that the economy's performance does not necessitate immediate action. While some ECB policymakers support swift cuts due to inflation concerns, Wunsch believes a cautious approach is warranted and that underlying inflation indicators are more relevant for assessing monetary policy restrictions.
Source: YAHOO
Reported about 1 month ago
As online shopping continues to disrupt the retail landscape, Europe is witnessing a resurgence of physical stores, which are being recognized for their role in boosting both in-store and online sales. Retailers are investing in brick-and-mortar locations to meet the renewed consumer desire for shopping in person post-pandemic. Data show that the hybrid approach of maintaining physical storefronts significantly enhances local online sales, while new shopping experiences, such as interactive features and community engagement, attract customers back to stores.
Source: YAHOO
Reported about 1 month ago
China has cautioned the European Union against conducting separate talks with electric vehicle makers while concurrently negotiating with China, stating that such actions could undermine mutual trust and disrupt overall negotiations. This warning follows an earlier one and comes after both parties agreed to continue technical discussions on alternatives to tariffs on Chinese EVs.
Source: YAHOO
Reported about 1 month ago
Quantumscape Corporation is increasingly reliant on PowerCo, a subsidiary of Volkswagen, under an IP License Agreement to scale its technology, which poses significant business risks. This dependency limits Quantumscape's control over manufacturing decisions and ties it to PowerCo’s operational and financial stability, affecting technology development, capital acquisition, and execution of business plans. Additionally, the complexity of auditing royalty payments could further complicate Quantumscape's financial situation, leading to a Wall Street consensus rating of Hold for its stock.
Source: YAHOO
Reported about 1 month ago
After a significant loss in the recent elections where his ruling coalition failed to secure a majority for the first time since 2009, Japanese Prime Minister Shigeru Ishiba has vowed to restore political stability and address public dissatisfaction. Ishiba, newly appointed just four weeks prior, acknowledged the need for reforms amid growing criticism over the handling of political scandals. He aims to implement an economic package to alleviate rising costs and strengthen partnerships with other parties, while facing challenges ahead of next year’s upper house elections.
Source: YAHOO
Reported about 1 month ago
Goldman Sachs has refinanced Pallas Capital's A$500 million ($330 million) private credit fund for commercial real estate, named Pallas Funding Trust No. 2, aimed at mid-market companies struggling to secure financing. The fund, which has received investments from Ares Management Corp. and Pallas Capital, offers loans for pre-development and residual stock, typically ranging from A$2 million to A$20 million. This refinancing takes place amid a backdrop of cautious lending from local banks as regulatory scrutiny increases.
Source: YAHOO
Reported about 1 month ago
Uruguay's presidential election will proceed to a runoff next month after no candidate secured the necessary majority, while a proposed pension system reform was rejected. Opposition candidate Yamandu Orsi, representing the Broad Front, will face Alvaro Delgado of the ruling National Party on November 24. The pension reform initiative, which risked increasing budget deficits, garnered only 38% support from voters, leaving uncertainty over the country's economic direction.
Source: YAHOO
Reported about 1 month ago
Indonesia has blocked Apple Inc. from selling its iPhone 16 models, citing that the company has not met the local investment requirements necessary for marketing its latest smartphones. The regulation requires at least 40% domestic content, which Apple has failed to fulfill, despite having invested only 1.5 trillion rupiah out of its pledged 1.7 trillion rupiah. While older iPhone models can still be sold, this decision poses a significant hurdle for Apple, which seeks to expand in Indonesia's burgeoning tech market.
Source: YAHOO
Reported about 1 month ago
U.S. stocks saw gains driven by Big Tech on Monday, despite declines in oil prices, while Japan's Nikkei 225 rose 1.8% due to a drop in the yen after the ruling party lost its parliamentary majority. The S&P 500 hit near its all-time high, boosted by tech giants like Apple and Meta, while financial markets brace for upcoming U.S. elections and economic data that could impact interest rate forecasts.
Source: YAHOO
Reported about 1 month ago
Olympus Corp has terminated CEO Stefan Kaufmann following allegations of illegal drug purchases, causing the company's shares to drop by 6%. Kaufmann, who had just taken over in April, was found to have likely acted against the company's ethical standards, leading to his resignation. The company's former CEO Yasuo Takeuchi has stepped in temporarily as they navigate this scandal, marking yet another chapter in Olympus's history of corporate controversies.
Source: YAHOO