The escalation of the war in Middle East is reshaping Africa's credit outlook, exposing vulnerabilities and accelerating differentiation across credit ratings. Zahabia Gupta, S&P Global Ratings, Managing Director & Emerging Markets Credit Research Head spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa on the direct impact of the war on the continent. (Source: Bloomberg)
The escalation of the war in Middle East is reshaping Africa's credit outlook, exposing vulnerabilities and accelerating differentiation across credit ratings. Zahabia Gupta, S&P Global Ratings, Managing Director & Emerging Markets Credit Research Head spoke to Bloomberg’s Abeer Abu Omar on Horizons Middle East and Africa on the direct impact of the war on the continent. (Source: Bloomberg)
ismagilov/iStock via Getty Images Ocean Capital Acquisition Corporation ( OCACU ), a newly formed blank check company (SPAC), has announced the pricing of its initial public offering of 10M units at $10.00 per unit. The transaction is expected to generate gross proceeds of $100M before fees and offering expenses. The British Virgin Islands-incorporated blank check company was established for the p...
ismagilov/iStock via Getty Images Ocean Capital Acquisition Corporation ( OCACU ), a newly formed blank check company (SPAC), has announced the pricing of its initial public offering of 10M units at $10.00 per unit. The transaction is expected to generate gross proceeds of $100M before fees and offering expenses. The British Virgin Islands-incorporated blank check company was established for the purpose of effecting a merger, asset acquisition, share purchase, or similar business combination. Management plans to look for target businesses in any industry without limitation. The units are scheduled to begin trading on the New York Stock Exchange today, June 9, 2026, under the ticker symbol "OCACU." The offering is projected to close tomorrow, June 10, 2026, subject to customary conditions. Each $10.00 unit consists of: one ordinary share, one redeemable warrant (entitling the holder to purchase one ordinary share at an exercise price of $11.50), and one right to automatically receive one ordinary share upon the successful consummation of an initial business combination. Once the components separate for individual trading, the ordinary shares, warrants, and rights will trade on the NYSE under the symbols "OCAC", "OCACW", and "OCACR", respectively. The company has granted sole bookrunner A.G.P./Alliance Global Partners a 45-day option to purchase up to an additional 1.5M units to cover any over-allotments. Brookline Capital Markets is acting as co-manager. More on Ocean Capital Acquisition Corporation Financial information for Ocean Capital Acquisition Corporation
In this article BYDDF 1211-HK Follow your favorite stocks CREATE FREE ACCOUNT 08 September 2025, Bavaria, Munich: Stella Li, Vice President of the car manufacturer BYD, speaks during a presentation by the manufacturer BYD at the press day of the International Motor Show IAA (IAA Mobility, International Motor Show) at the company's stand in a hall of Messe München (Bavaria, Germany) on September 8,...
In this article BYDDF 1211-HK Follow your favorite stocks CREATE FREE ACCOUNT 08 September 2025, Bavaria, Munich: Stella Li, Vice President of the car manufacturer BYD, speaks during a presentation by the manufacturer BYD at the press day of the International Motor Show IAA (IAA Mobility, International Motor Show) at the company's stand in a hall of Messe München (Bavaria, Germany) on September 8, 2025. Picture Alliance | Picture Alliance | Getty Images At a time when electric vehicle sales growth in China has been slowing, BYD expects the country's EV market to expand — quite in contrast to smaller rival Nio that recently said the industry's " golden era " was over. "With all the innovation technology introduced to the market, China's market very quickly will push to ... close to 80% in EV penetration," BYD's Executive Vice President Stella Li told CNBC's Arjun Kharpal on Monday. Thanks to state support and a flood of car options, the penetration rate of hybrid and battery-only vehicles has grown rapidly in just a few years, exceeding half of new passenger cars sold in 2024 and a record 62.9% last month, according to the Chinese Passenger Car Association. The U.S. electric car penetration rate remains at just around 10% , while that figure is roughly 25% globally, the International Energy Agency said last month. U.S. tariffs of 100% on China-made electric cars have restricted local sales. BYD along with some other firms was put on the Pentagon's list of Chinese military-affiliated companies on Monday. The EV maker did not respond to a request for comment. watch now VIDEO 4:50 04:50 China's EV giants chase tech rebrands and foreign markets to survive: Expert The China Connection But BYD is optimistic about the domestic market, banking on improved battery technology. Domestic demand for BYD's EVs now stands at around double what the company can currently deliver, Li said, thanks to its fast-charging technology that is reportedly capable of achieving a 70% charge in j...
Vallourec ( VLOUF ) has signed a Memorandum of Understanding (MoU) with Ultra Corpotech Pvt Ltd, a supplier to major oilfield services companies based in India and the United States . The implementation of this MoU is planned for late 2026, with commissioning expected in early 2027, the company said on Tuesday. By establishing a "highly efficient and streamlined supply chain," this initiative will...
Vallourec ( VLOUF ) has signed a Memorandum of Understanding (MoU) with Ultra Corpotech Pvt Ltd, a supplier to major oilfield services companies based in India and the United States . The implementation of this MoU is planned for late 2026, with commissioning expected in early 2027, the company said on Tuesday. By establishing a "highly efficient and streamlined supply chain," this initiative will offer optimized access to VAM products through certified local production. The collaboration is intended to build a closer and sustainable cooperation to better serve oilfield services customers and partners in India . The agreement reflects a broader structural transformation of the oil & gas supply chain, as major oilfield services companies continue to rebalance their manufacturing footprint globally, the companies said. More on Vallourec S.A. Vallourec: I Moved To The Sidelines On Valuation (Rating Downgrade) Vallourec S.A. (VLOWY) Shareholder/Analyst Call Transcript Vallourec S.A. (VLOWY) Q1 2026 Earnings Call Transcript Seeking Alpha’s Quant Rating on Vallourec S.A. Historical earnings data for Vallourec S.A.
Israel’s latest strikes on Lebanon and Iran have made clear that US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, who started the war in lockstep, want different things. Trump had publicly warned Israel not to strike Beirut in its war with Iran-backed Hezbollah militants. When it did, on Sunday, Iran responded by firing ballistic missiles at Israel for the first time since ...
Israel’s latest strikes on Lebanon and Iran have made clear that US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu, who started the war in lockstep, want different things. Trump had publicly warned Israel not to strike Beirut in its war with Iran-backed Hezbollah militants. When it did, on Sunday, Iran responded by firing ballistic missiles at Israel for the first time since the April ceasefire. Israel then struck Iran, with which Trump has been engaged in weeks of...
Ratana21/iStock via Getty Images Securities lending revenues surpassed $1.7 billion during the month of May, the highest monthly total of the year so far and a 43% increase when compared with May 2025. H1 revenues also surpassed those seen in 2025 by 6.5% with June still to account for. Average fees climbed 6% year-on-year to 49 bps as balances continued to grow, topping $4.1 trillion. Average bal...
Ratana21/iStock via Getty Images Securities lending revenues surpassed $1.7 billion during the month of May, the highest monthly total of the year so far and a 43% increase when compared with May 2025. H1 revenues also surpassed those seen in 2025 by 6.5% with June still to account for. Average fees climbed 6% year-on-year to 49 bps as balances continued to grow, topping $4.1 trillion. Average balances for May 2026 were approximately $1.1 billion higher than those seen in May 2025. Across the equity markets, Asian equity revenues surpassed those of the Americas for the second month in succession, growing by 113% year over year to $487 million. Americas equities suffered from a 25% year-on-year decline in average fees, which weighed upon revenues. EMEA equity revenues continued to improve, growing 55% year on year to $266 million. Average fees and balances both trended higher, which supported returns. The increase in balances was roughly double the size of the percentage increase in lendable supply year over year, which suggests stronger demand and more limited supply. ETFs continued to show strong demand throughout the month as geopolitical events and AI investment themes remained key drivers of financial news. Revenues increased 81% to $162 million during the month of May as average fees remained elevated. Across fixed income markets, inflationary pressures as a result of the ongoing disruption in energy markets and the subsequent uncertainty being seen in future interest rate decisions pushed government bond revenues to some of the highest levels seen for many months. The asset class generated $254.3 million throughout May as average monthly balances surpassed $1.7 trillion. utilisation rates shifted higher as a result, surpassing 23.9%. Corporate bonds benefited from similar tailwinds throughout the month as revenues increased month on month to $99 million. Average fees remained flat when compared with April, but balances continued to grow, lifting revenues highe...
syahrir maulana/iStock via Getty Images Overview The U.S. stock market experienced elevated volatility in the first quarter of 2026, as investors struggled to assess a broad range of news events. The year began on an upbeat note on anticipation of improving economic growth and falling interest rates, leading to positive performance and broadening market leadership. However, the emergence of worrie...
syahrir maulana/iStock via Getty Images Overview The U.S. stock market experienced elevated volatility in the first quarter of 2026, as investors struggled to assess a broad range of news events. The year began on an upbeat note on anticipation of improving economic growth and falling interest rates, leading to positive performance and broadening market leadership. However, the emergence of worries about the private-credit space, uncertainty about the impact of artificial intelligence (AI) on the economy, and, most notably, the outbreak of the U.S. and Israel's war with Iran depressed investor sentiment and fueled a market downturn in the second half of the quarter. Despite these headwinds, the broader small-cap value category finished in positive territory on the strength of its earlier rally. Although the Wasatch Small Cap Value Fund—Investor Class gained 0.67%, it didn't keep pace with the Russell 2000® Value Index, which added 4.96%. The Fund had outpaced the Index prior to the beginning of the Iran conflict, led by holdings in more economically sensitive areas of the market. We subsequently gave back our performance advantage following the start of the war, when market leadership shifted toward commodity-driven stocks in the energy and materials sectors. We typically hold underweight positions in these areas, since it's challenging to identify companies with the ability to control their own destinies. As is always the case, we maintained steady positioning based on the fundamental outlook for our portfolio holdings, rather than attempting to chase news-driven rallies in specific areas of the market. Portfolio Managers Austin Bone Lead Portfolio Manager Gene Robin, CFA Portfolio Manager The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the data quoted. For the most recent month-end performance data, visit wasatchglobal.com . Investment returns and principal...