Deutsche Bank AG named Joe Lai as head of investment banking and capital markets for Asia-Pacific, as part of a senior leadership shake‑up in the advisory business, according to a memo. Lai will succeed Mayooran Elalingam , who will focus on senior client relationships and strategy development, according to the memo. A media representative at the bank confirmed content of the memo and declined to ...
Deutsche Bank AG named Joe Lai as head of investment banking and capital markets for Asia-Pacific, as part of a senior leadership shake‑up in the advisory business, according to a memo. Lai will succeed Mayooran Elalingam , who will focus on senior client relationships and strategy development, according to the memo. A media representative at the bank confirmed content of the memo and declined to comment further. The changes come at a time when Hong Kong and mainland China have become the focal point of dealmaking and revenue generation for global banks in Asia. The appointment underscores Deutsche Bank’s intent to strengthen its leadership bench and sharpen its focus on China. Lai, who joined in 2023, was most recently chairman of Asia investment banking and chief executive officer of Deutsche Bank Hong Kong. He was among a score of senior bankers who departed Credit Suisse Group after its takeover by UBS Group AG.
Ant DM/iStock Editorial via Getty Images Introduction Back when I first covered Shake Shack ( SHAK ), I highlighted their solid foundation, strong brand, industry-leading store-level returns, and robust growth despite the ongoing macro headwinds. As their aggressive expansion is accelerating and profitability is improving, SHAK remains a Buy, with the current valuation reflecting a significant dis...
Ant DM/iStock Editorial via Getty Images Introduction Back when I first covered Shake Shack ( SHAK ), I highlighted their solid foundation, strong brand, industry-leading store-level returns, and robust growth despite the ongoing macro headwinds. As their aggressive expansion is accelerating and profitability is improving, SHAK remains a Buy, with the current valuation reflecting a significant discount given the company's long-term potential. Aggressive Expansion Accelerates Shake Shack IR SHAK reported mixed Q4 results, with a beat on EPS despite missing the market's revenue estimates by a bit, while restaurant-level profit margins remained solid despite the ongoing macro weakness and pressure, with the free cash flow continuing its inflection, reaching ~$56.51 million in 2025 (compared to $35.66 million in 2024 and -$14.03 million in 2023). Meanwhile, their aggressive expansion advanced on both fronts, developing domestically and internationally by adding 45 new company-operated stores and 40 licensed ones (with a total of 5 closures), growing to 659 stores at the end of 2025 compared to 579 in 2024. Shake Shack IR As for the guidance, SHAK sees an accelerated growth rate in new openings, expecting between 55 and 60 company-operated openings and 40 and 45 licensed openings in 2026, with a slight improvement in restaurant-level profit margin on top. Meanwhile, the three-year financial targets see low teens growth rates in revenue and system-wide unit growth with at least 50 bps growth per year in margins, which is great for a company that's developing so fast, potentially leading to significant bottom-line growth that would outpace top-line. Shake Shack IR Financially, based on SHAK's latest report , they remain in a strong position, with current assets above their current liabilities and a manageable amount of debt (~$250 million worth of 0% convertible notes issued by their parent, SSE Holdings, due in March 2028), going for an asset-light business model given th...
Global Energy Crisis Or Iranian Surrender In Five Weeks? Authored by Brandon Smith via Alt-Market.us The last time global energy markets witnessed a shock similar to what we might see this year was during the 1973 Arab Oil Embargo. Tensions were escalating in the aftermath of the Yom Kippur War when the Arab Coalition launched a surprise attack against Israel. OPEC nations joined forces to cut off...
Global Energy Crisis Or Iranian Surrender In Five Weeks? Authored by Brandon Smith via Alt-Market.us The last time global energy markets witnessed a shock similar to what we might see this year was during the 1973 Arab Oil Embargo. Tensions were escalating in the aftermath of the Yom Kippur War when the Arab Coalition launched a surprise attack against Israel. OPEC nations joined forces to cut off oil to Israeli allies including the US. This froze around 15% of oil exports to America, triggering market speculation, hording and price inflation. The infection spread to Asian markets long dependent on the Middle East for energy resources. This slowed industrial capacity and many governments imposed rationing and price controls. Images of long lines of cars at gas stations and people filling up extra containers remain burned into the collective memory of anyone who lived through that era. However, the real threat to the US was not supply shortages; rather, it was the prospect of a market cascade. Stagflation coupled with supply chain vulnerabilities were exacerbated by public panic. Stock markets also plunged into recession territory in the expectation of an industrial slowdown. The embargo lasted only five months, but the damage was extensive. Things have changed quite dramatically since the 1970s. The US is far less dependent on energy resources from the Middle East, though, any shocks to the global oil trade have the ability to ripple out and affect American markets. Furthermore, Arab oil producers are now largely allied with the US, which means there’s less risk of a prolonged shutdown due to conflict. In the case of the Strait of Hormuz, any direct damage to America is minimal. Only 7% of all oil shipments to the US actually travel through the Hormuz, and, Venezuelan oil is helping to fill that gap. The greater danger is rooted in globalism and the interdependent trade system. For example, US allies like Australia, India, Japan, and the Philippines are heavily expo...
vchal/iStock via Getty Images Welcome to the Vanadium miners news. March saw China and Europe spot vanadium pentoxide prices and ferrovanadium prices higher for the past month. Vanadium Uses Vanadium is traditionally used to harden steel. Chinese rebar standards are requiring more vanadium. Also, Vanadium Flow Batteries [VRFBs] are becoming increasingly popular, especially for commercial energy st...
vchal/iStock via Getty Images Welcome to the Vanadium miners news. March saw China and Europe spot vanadium pentoxide prices and ferrovanadium prices higher for the past month. Vanadium Uses Vanadium is traditionally used to harden steel. Chinese rebar standards are requiring more vanadium. Also, Vanadium Flow Batteries [VRFBs] are becoming increasingly popular, especially for commercial energy storage, most notably in China. Vanadium Pentoxide [V₂O₅] is used in VRFBs, and Ferrovanadium [FeV] is used in the steel industry. Vanadium Spot Price History China V₂O₅ prices were higher last month. The Shanghai Metal Market price on March 26 was US$10,421/t (VAT excluded) (~USD 4.65/lb) , up from US$10,041/t (VAT excluded) last month. Europe & China Vanadium Pentoxide [V2O5] Flake 98% one-year price chart (as of March 10, 2026) ( source ) Vanadiumprice.com As of mid-March 2026, Argus Media reports the China Ferrovanadium (80%V) FOB price at ~ US$27.50/kg , higher than the past month. Europe and China Ferrovanadium [FeV] 80% one-year price chart (as of March 9 and 10, 2026) ( source ) Vanadiumprice.com Vanadium Demand Versus Supply An April 2021 Wood Mackenzie report stated : Global energy storage deployment surged a remarkable 62% in 2020, with 5 GW/9 GWh of new capacity added. This brought the total energy storage market to more than 27 GWh. Furthermore, we expect the global (energy storage) market to grow 27-fold by 2030. Global VRFB forecast growth by region, 2022-2031 Guidehouse Insights Large-scale global deployments of VRFB's are becoming more common - chart sourced as of April 2025 ( source ) Vanadiumcorp Resource Inc . VRFB installations are rapidly appearing globally, notably in China ( source ) Vanadiumcorp Resource Inc . Vanadium (8.5x) & Lithium (10x) demand is forecast to surge the most under the IEA Net Zero Emission scenario ( source ) Neometals presentation courtesy IEA Vanadium Market News On March 5, Vanitec reported : China vanadium market enters new pha...