Investors led by buyout firm Advent International LP and FedEx Corp. agreed to buy Polish parcel-locker company InPost SA in a deal that values the business at €7.8 billion ($9.3 billion). The consortium will begin a public offer at €15.60 a share in cash, according to a statement Monday. The price is 50% above where the shares traded Jan. 2, just before InPost said it had received an indicative p...
Investors led by buyout firm Advent International LP and FedEx Corp. agreed to buy Polish parcel-locker company InPost SA in a deal that values the business at €7.8 billion ($9.3 billion). The consortium will begin a public offer at €15.60 a share in cash, according to a statement Monday. The price is 50% above where the shares traded Jan. 2, just before InPost said it had received an indicative proposal from an undisclosed party, sparking a rally in its Amsterdam-listed shares. The buyers’ group also includes Czech investment company PPF Group NV as well as InPost founder Rafal Brzoska . PPF already is InPost’s largest shareholder, according to data compiled by Bloomberg. InPost said that it will maintain head office in Poland. The company is also looking to link FedEx’s global network with its own parcel-locker infrastructure. The deal is expected to close in the second half of the year. InPost rose about 14% on Tradegate exchange versus the Amsterdam close. The company went public in 2021 at €16 a share.
China’s largest metal miner, Zijin Mining Group ( ZIJMF ), has increased its gold production target by almost 30% through 2028 amid sustained high prices for the precious metal. Mined gold output will rise to between 130 to 140 tons over the next three years, the Fujian-based miner said in exchange filings on Monday. The previous target, set in 2024 , called for output of 100 to 110 tons by 2028. ...
China’s largest metal miner, Zijin Mining Group ( ZIJMF ), has increased its gold production target by almost 30% through 2028 amid sustained high prices for the precious metal. Mined gold output will rise to between 130 to 140 tons over the next three years, the Fujian-based miner said in exchange filings on Monday. The previous target, set in 2024 , called for output of 100 to 110 tons by 2028. Targets for mined copper and silver remain unchanged at 1.5 million to 1.6 million tons and 600 to 700 tons, respectively. More on Zijin Mining Group Company Limited China’s Zijin Mining to buy Allied Gold in C$5.5B deal Seeking Alpha’s Quant Rating on Zijin Mining Group Company Limited Historical earnings data for Zijin Mining Group Company Limited Dividend scorecard for Zijin Mining Group Company Limited Financial information for Zijin Mining Group Company Limited
gremlin/E+ via Getty Images Brad Pitt’s World War Z film contains one of my favorite movie scenes. Amid a global apocalypse, Israel comes under siege from hordes of zombies, which have overwhelmed most cities and countries across the globe. Yet Israel saw what no one else saw and had earlier erected a wall around the country, thus keeping the hordes at bay. How’d this happen? According to (fiction...
gremlin/E+ via Getty Images Brad Pitt’s World War Z film contains one of my favorite movie scenes. Amid a global apocalypse, Israel comes under siege from hordes of zombies, which have overwhelmed most cities and countries across the globe. Yet Israel saw what no one else saw and had earlier erected a wall around the country, thus keeping the hordes at bay. How’d this happen? According to (fictional) Mossad agent Jurgen Warmbrunn, after the Yom Kippur War, Israel developed a 10th Man policy: If nine out of ten experts agree on something, the tenth must argue the opposite to challenge groupthink and identify overlooked threats. While most of the world assumed the rumors of zombies were make-believe, Israel questioned assumptions and concluded that the risk was real, and so they built a wall. I believe this doctrine is actually useful in the real-world, and thus from time to time I like to challenge widely held beliefs. The fears of an AI bubble popping are currently one of the most widely held (probably the most widely held) recession risks among investors. But is that widely held belief correct? Like many others, I’ve been operating under the assumption that the threat is real and substantial. Yet, especially amid a sharp stock sell-off, with AI bubble risks one of the biggest contributors, we should question these assumptions, as unwarranted fears can lead investors astray. Which brings us to this 10th Man Report: There may simply not be a substantial AI bubble risk, and even if some overpriced stocks retreat, it won’t pose a threat to the global economy. Since this is a 10th Man Report, the goal is to think of things from a different point-of-view rather than exploring my personal views. I’m not necessarily fully convinced that there is absolutely no risk, but writing this out has soothed some of my worries, and I increasingly believe the AI bubble risks are overstated. Crucially, even if it turns out to be true that there is no AI bubble, that doesn’t mean the gl...
China has been working to cut the use of soybean meal in animal feed – the primary end-use of imported soybeans – as part of its strategy to reduce external dependence, but the latest industry data suggests these efforts have made limited headway. Last year, the proportion of soybean meal in domestically produced feed stood at 13.4 per cent, unchanged from the previous year, according to data rele...
China has been working to cut the use of soybean meal in animal feed – the primary end-use of imported soybeans – as part of its strategy to reduce external dependence, but the latest industry data suggests these efforts have made limited headway. Last year, the proportion of soybean meal in domestically produced feed stood at 13.4 per cent, unchanged from the previous year, according to data released by the China Feed Industry Association (CFIA) last week. This indicates that the goal set by agricultural authorities three years ago – reducing soybean meal usage in feed from 14.5 per cent in 2022 to below 13 per cent by 2025 – remains unmet, adding pressure to a longer-term target of lowering the ratio to 10 per cent by 2030. Advertisement Despite efforts to find other protein sources to replace soybean meal since 2023, newly developed substitutions – mainly biosynthetic amino acids – have yet to be utilised at large scale, thereby making limited impact on China’s growing demand for soybeans, Wang Wenshen, an analyst from bulk commodity consulting service provider Sublime China Information, said. Advertisement “It’s meaningful for cutting import reliance and safeguarding national food security, but in practice, the new technologies are still too costly,” he said.
Vice Premier He Lifeng delivers a keynote speech on Jan. 20 at the World Economic Forum Annual Meeting 2026 in Davos, Switzerland. Photo: CCTV News China’s diplomacy started off the year at high tide in terms of high-profile arrivals from other countries. Leaders from France, Ireland, Canada, Finland, and the U.K. came to Beijing, producing a list of deliverables that has caught international atte...
Vice Premier He Lifeng delivers a keynote speech on Jan. 20 at the World Economic Forum Annual Meeting 2026 in Davos, Switzerland. Photo: CCTV News China’s diplomacy started off the year at high tide in terms of high-profile arrivals from other countries. Leaders from France, Ireland, Canada, Finland, and the U.K. came to Beijing, producing a list of deliverables that has caught international attention. Amid drastic shifts in global political and economic relations, the primary driver bringing these Western leaders to Beijing is the magnetic pull of the Chinese market and the country’s cemented status in global supply and value chains. By “managing its own affairs well” and actively pushing development and reform, China creates a better external environment for its own enterprises to go global while offering the world more “China opportunities.”
UniCredit S.p.A. press release ( UNCRY ): Q4 GAAP EPS of €1.22. Revenue of €5.69B (-5.3% Y/Y). Net revenues: €5.3 bn, down 11.9% Q/Q and down 5.6% Y/Y. Net Interest Income (NII): €3.4 bn, up 1.8% Q/Q and down 6.0% Y/Y. Fees & net insurance result: €2.1 bn, up 0.7% Q/Q and up 8.1% Y/Y. RoTE: 12.1%, down 6.9 p.p. Q/Q and up 0.6 p.p. Y/Y. Group CET1 ratio: 14.7%, down 2 bp Q/Q and down 1.1 p.p. Y/Y. ...
UniCredit S.p.A. press release ( UNCRY ): Q4 GAAP EPS of €1.22. Revenue of €5.69B (-5.3% Y/Y). Net revenues: €5.3 bn, down 11.9% Q/Q and down 5.6% Y/Y. Net Interest Income (NII): €3.4 bn, up 1.8% Q/Q and down 6.0% Y/Y. Fees & net insurance result: €2.1 bn, up 0.7% Q/Q and up 8.1% Y/Y. RoTE: 12.1%, down 6.9 p.p. Q/Q and up 0.6 p.p. Y/Y. Group CET1 ratio: 14.7%, down 2 bp Q/Q and down 1.1 p.p. Y/Y. Outlook: FY26 net revenue ambition >€25 bn up 5%, cost ≤€9.4 bn down 1%, net profit at c. €11 bn and >20%7 RoTE FY28 net revenue ambition at c. €27.5 bn growing at a 5% CAGR FY25-28, costs at c. €9.2 bn decreasing at a 1% CAGR FY25-28, net profit at c. €13 bn and RoTE >23%7 , resulting in a FY25-28 double digit EPS and DPS growth with a continued positive trajectory after that Total cumulative distributions at c. €30 bn8 and c. €50 bn8 in the next three years and five years respectively excluding any deployment or return of excess capital that shall be evaluated yearly. More on UniCredit S.p.A. UniCredit: A Bullish Growth Case For One Of Europe's Critical Banking Giants ClearBridge International Growth EAFE Strategy exits Novo Nordisk, adds Roche in Q4 Seeking Alpha’s Quant Rating on UniCredit S.p.A. Historical earnings data for UniCredit S.p.A. Dividend scorecard for UniCredit S.p.A.