Nippon Steel Corp. dropped after the Japanese company was reported to be considering selling as much as 500 billion yen ($3.2 billion) of convertible bonds. The steelmaker is weighing a final decision as soon as this month, Reuters reported on Thursday, citing two unidentified people with knowledge of the matter. A company spokesperson told Bloomberg News that nothing has been decided. Its shares ...
Nippon Steel Corp. dropped after the Japanese company was reported to be considering selling as much as 500 billion yen ($3.2 billion) of convertible bonds. The steelmaker is weighing a final decision as soon as this month, Reuters reported on Thursday, citing two unidentified people with knowledge of the matter. A company spokesperson told Bloomberg News that nothing has been decided. Its shares fell as much as 7.6% before paring losses and are still set for the biggest drop since December. At $3.2 billion, the potential Nippon Steel convertible-bond sale would be among the largest by Asian companies involving bonds that can be converted into stock. Chinese delivery firm ZTO Express Cayman Inc. this week raised $1.5 billion from convertible bonds, and Alibaba Group Holding Ltd. last year also raised $3.2 billion from such instruments. Nippon Steel is planning to invest 6 trillion yen over the next five years, including in US Steel, which the Japanese company acquired last year. Capital needs are rising to support overseas expansion, particularly in the US, where demand is expected to grow.
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
This interactive model has a limit on the number of drivers that can be modified in a single scenario. When the limit is reached those drivers not yet modified become disabled for modification. Your options are: Create new scenarios to try different combinations of driver modifications Reset one of your driver modifications in this scenario in order to modify another driver
In their first call since November, Chinese leader Xi Jinping warned US president Donald Trump to be “prudent” about supplying arms to Taiwan, according to a readout of their call provided by China’s foreign ministry. “President Xi emphasised that the Taiwan question is the most important issue in China-US relations,” the readout said. “China must safeguard its own sovereignty and territorial inte...
In their first call since November, Chinese leader Xi Jinping warned US president Donald Trump to be “prudent” about supplying arms to Taiwan, according to a readout of their call provided by China’s foreign ministry. “President Xi emphasised that the Taiwan question is the most important issue in China-US relations,” the readout said. “China must safeguard its own sovereignty and territorial integrity, and will never allow Taiwan to be separated. The US must handle the issue of arms sales to Taiwan with prudence.” Hours later, the self-ruled island’s president, Lai Ching-te, said ties with the US were “rock solid”. “The Taiwan-US relationship is rock solid, and all cooperation projects will continue uninterrupted,” Taiwan’s president, Lai Ching-te, told reporters during a visit to textile merchants in western Taiwan on Thursday. Taiwan is a self-ruled democracy that China claims as its own territory, to be annexed by force if necessary. Beijing prohibits all countries it has diplomatic relations with – including the US – from having formal ties with Taipei. Still, while the US doesn’t officially recognise Taiwan as a country, it is the island’s strongest informal backer and arms supplier. In December, the US state department announced its largest-ever arms sales package to Taiwan, valued at more than $11.1bn and including missiles, artillery systems and drones. The package is yet to be approved by Congress. China reacted angrily to the proposed arms sales, conducting two days of military drills around the island in late December, for which it dispatched air, navy and missile units. The arms sales are also facing pushback from Taiwan’s opposition KMT party and some of its population, along with a proposed increase of defense spending to 3.3% of Taiwan’s gross domestic product. Taiwan’s opposition-controlled parliament has blocked Lai’s budget plan, including a $40bn special defense budget, proposing instead a much smaller defense spending plan. Late on Wednesday, Tr...
Police had already charged the man - whose identity has been suppressed by the courts for his safety - with committing an unlawful act with intent to harm and one count of making or possessing explosives under suspicious circumstances.
Police had already charged the man - whose identity has been suppressed by the courts for his safety - with committing an unlawful act with intent to harm and one count of making or possessing explosives under suspicious circumstances.
Shinhan Financial press release ( SHG ): FY GAAP EPS of ₩9812.00. Revenue of ₩7.02T (+8.7% Y/Y). More on Shinhan Financial Shinhan Financial: Watch Out For Positive Surprises Seeking Alpha’s Quant Rating on Shinhan Financial Historical earnings data for Shinhan Financial Dividend scorecard for Shinhan Financial Financial information for Shinhan Financial
Shinhan Financial press release ( SHG ): FY GAAP EPS of ₩9812.00. Revenue of ₩7.02T (+8.7% Y/Y). More on Shinhan Financial Shinhan Financial: Watch Out For Positive Surprises Seeking Alpha’s Quant Rating on Shinhan Financial Historical earnings data for Shinhan Financial Dividend scorecard for Shinhan Financial Financial information for Shinhan Financial
Thursday has come around again, and it’s time to find out whether you’re sharp, alert and on top of the news – or still staring into the coffee of mystery wondering what on earth happened this week. Fifteen questions on the week’s headlines, pop culture and general knowledge await. There are no prizes, but we always love hearing how you got on in the comments. Allons-y! The Thursday news quiz, No ...
Thursday has come around again, and it’s time to find out whether you’re sharp, alert and on top of the news – or still staring into the coffee of mystery wondering what on earth happened this week. Fifteen questions on the week’s headlines, pop culture and general knowledge await. There are no prizes, but we always love hearing how you got on in the comments. Allons-y! The Thursday news quiz, No 233 1. Italy has been agog after it turned out the restoration of a painting in the Basilica of St Lawrence in Lucina (not pictured, that is a different church) has left it with a cherub looking uncannily like … Silvio Berlusconi Totò Schillaci Sophia Loren Giorgia Meloni Reveal 2. The Greens have selected Hannah Spencer to run in the Gorton and Denton byelection. What is her trade? Electrician Carpenter Plumber Toolmaker Reveal 3. A record harvest has sparked a mass giveaway of what in Berlin? Potatoes Turnips Carrots Feral hogs Reveal 4. Talking of record harvests – see what we did there? – who became the most-awarded rapper in Grammy history at the weekend? Pharrell Williams Kanye West Eminem Kendrick Lamar Reveal 5. Historical art boffins (the correct technical term) have decided that the famous Hever 'Rose' portrait of Anne Boleyn (not pictured, that's her husband) was posed very specifically to debunk a specific claim about her. It shows that … Anne did not have a birthmark on her neck Anne did not have six fingers on one hand Anne did not have a squint Anne did not have a Leyton Orient tattoo Reveal 6. The mayor of Greenland’s capital, Nuuk, got a bit huffy after someone tried to raise a US flag there. Who? An Italian YouTuber A Canadian prankster A German comedian Donald Trump Jr Reveal 7. This week's guest canine is Reggie again, because the Thursday quiz keeps approaching him and his owner forgetting that they've already met. The restraining order is probably in the post. He wants to know who has been cast as Joni Mitchell in a forthcoming biopic of the singer-son...
champc/iStock via Getty Images Dispersion We believe we're entering a new era of dispersion in the performance of financial assets. Behind buoyant index averages are sharply bifurcated cohorts of winners and losers. Equities are flying high but remain mostly propelled by a handful of AI superstars. Credit appears healthy in aggregate, but there's a notable tail of unloved names. Economic growth lo...
champc/iStock via Getty Images Dispersion We believe we're entering a new era of dispersion in the performance of financial assets. Behind buoyant index averages are sharply bifurcated cohorts of winners and losers. Equities are flying high but remain mostly propelled by a handful of AI superstars. Credit appears healthy in aggregate, but there's a notable tail of unloved names. Economic growth looks robust but masks clear divergence in the experience of high- and low-income consumers, a phenomenon now termed the "k-shaped economy." These dynamics serve as a reminder that averages shouldn't be relied upon in a sophisticated investment process. During the low-interest-rate environment of 2009-2021, credit was "bunched up," with limited dispersion around the index spread. Now yields are much healthier, but a tougher backdrop (and perhaps the residual impact of the prior period being too easy) means we're returning to a world where mistakes are punished – and potentially capitalized on. As Howard Marks recently wrote , the next phase is set to be more "interesting." The U.S. Economy: K-Shaped U.S. economic data remains challenging to interpret, though the headline metrics appear mostly positive. GDP growth has certainly surprised to the upside, recording an annual rate of 4.4% in 3Q2025. Resilient consumer spending has been a big contributor, but there's a more complex picture behind the headlines. Aggregate consumption is reliant on a narrow cohort of high-income consumers, who've benefited the most from significant stock-market gains and continued to spend. (See Figure 1.) Meanwhile, the low-income consumer doesn't look quite so buoyant. This segment benefited from strong salary growth in the wake of the pandemic, but this has now tailed off, down to 1.4% YoY compared to 4.0% for high-income households. 1 Lower-income consumers have reduced their spending in several key categories, such as clothing and airlines, both categories in which high-income consumers have inc...
Sampo plc, financial statement release, 5 February 2026 at 8:30 am EET Sampo Group’s results for 2025 Like-for-like top-line growth came in at 8 per cent on the back of strong performance across private and SME lines both in the Nordics and in the UK. The underwriting result increased by 12 per cent on a currency adjusted basis to EUR 1,485 million, and the combined ratio improved by 0.7 percentag...
Sampo plc, financial statement release, 5 February 2026 at 8:30 am EET Sampo Group’s results for 2025 Like-for-like top-line growth came in at 8 per cent on the back of strong performance across private and SME lines both in the Nordics and in the UK. The underwriting result increased by 12 per cent on a currency adjusted basis to EUR 1,485 million, and the combined ratio improved by 0.7 percentage points to 83.6 per cent. Operating EPS strengthened by 7 per cent on the increase in the underwriting result. Reported EPS increased by 65 per cent, driven by EUR 540 million net gain on the Group’s investment in NOBA. Solvency II coverage stood at 174 per cent, net of the proposed dividend, and financial leverage amounted to 23.6 per cent. The Board proposes a regular dividend of EUR 0.36 per share, representing 6 per cent increase. Sampo expects to achieve an insurance revenue of EUR 9.5-9.8 billion and to deliver an underwriting result of EUR 1,485-1,600 million in 2026. “In 2025, Sampo delivered another year of consistent execution of our organic growth strategy. Our strong result shows that we continue to benefit from our scale and unique market positions, and that the investments we have made in digital sales and service capabilities are paying off. Looking to 2026, Sampo is in a good position to deliver on its financial targets and to continue to provide resilient value creation to shareholders,” says Morten Thorsrud, Sampo Group CEO. Key figures EURm 10-12/ 2025 10-12/ 2024 Change, % 2025 2024 Change, % Gross written premiums 2,277 2,212 3 10,738 9,931 8 Insurance revenue, net 2,322 2,172 7 9,078 8,386 8 Underwriting result 364 361 1 1,485 1,316 13 Net financial result 375 62 501 1,210 636 90 Profit before taxes 668 219 205 2,436 1,559 56 Net profit 538 180 198 1,998 1,154 73 Operating result 312 347 -10 1,343 1,193 13 Earnings per share (EUR) 0.20 0.06 216 0.74 0.45 65 Operating EPS (EUR) 0.12 0.13 -10 0.50 0.47 7 10-12/ 2025 10-12/ 2024 Change 2025 2024 Change R...
Sampo plc, stock exchange release, 5 February 2026 at 8.20 am EET Update in Sampo’s distribution policy To enable Sampo to continue to deliver an attractive mix of dividends and share buybacks as it...
Sampo plc, stock exchange release, 5 February 2026 at 8.20 am EET Update in Sampo’s distribution policy To enable Sampo to continue to deliver an attractive mix of dividends and share buybacks as it...
aquatarkus Workers at Volkswagen’s ( VWAGY ) Tennessee plant have won a 20% wage increase in a historic agreement with the United Auto Workers, marking a major victory for the union. The carmaker and UAW have reached a tentative contract deal covering around 3,000 employees at VW's plant in Chattanooga, a first for the facility, the parties said late Wednesday. After workers voted 3-to-1 to join t...
aquatarkus Workers at Volkswagen’s ( VWAGY ) Tennessee plant have won a 20% wage increase in a historic agreement with the United Auto Workers, marking a major victory for the union. The carmaker and UAW have reached a tentative contract deal covering around 3,000 employees at VW's plant in Chattanooga, a first for the facility, the parties said late Wednesday. After workers voted 3-to-1 to join the UAW in 2024, they elected a 20-member negotiating committee of their peers. “For years, Chattanooga workers were told to settle for less while Volkswagen made record profits. So, the workers stood together and won their union—and now they’ve secured a life-changing first agreement,” said UAW President Shawn Fain. Source: Press Release More on Volkswagen AG Seeking Alpha’s Quant Rating on Volkswagen AG Historical earnings data for Volkswagen AG Dividend scorecard for Volkswagen AG Financial information for Volkswagen AG
OR Images/DigitalVision via Getty Images Equity LifeStyle Properties ( ELS ) owns and operates a large portfolio of manufactured home (“MH”) communities, recreational vehicle (“RV”) resorts, and other recreational property across North America. The real estate investment trust (“REIT”) is also an S&P 500 ( SPY ) component that has outperformed the market index in total returns since its IPO in the...
OR Images/DigitalVision via Getty Images Equity LifeStyle Properties ( ELS ) owns and operates a large portfolio of manufactured home (“MH”) communities, recreational vehicle (“RV”) resorts, and other recreational property across North America. The real estate investment trust (“REIT”) is also an S&P 500 ( SPY ) component that has outperformed the market index in total returns since its IPO in the early 1990s. During this period, ELS has posted total returns of over 6,000% compared to the S&P returns of 2,800%. ELS Investor Presentation - Summary Of Total Return Performance Of ELS Compared To Broader Indexes In recent periods, however, the stock has lagged behind the broader indexes. Granted, shares are trading comparatively better relative to its immediate peers in Sun Communities ( SUI ) and UMH Properties ( UMH ). Seeking Alpha - YTD Share Performance Of ELS Compared To Peers Shares were recently upgraded following the release of strong quarterly results and the announcement of an over 5% increase to its annual dividend. While I agree with the sentiment, I do believe shares are fairly valued at current pricing and that the upside potential is limited. ELS Stock Key Metrics ELS currently trades at a multiple of 20x forward funds from operations (“FFO”). This is slightly higher but comparable to the valuation of its larger peer, SUI, which sits at around a 19x multiple. Seeking Alpha - Valuation Metrics Of ELS Compared To Peers The valuation for both REITs is appropriate, in my opinion. In the case of ELS, the REIT has grown FFO/share at an 8.4% CAGR for nearly 20 years, and it has grown its dividend by a 20% CAGR over the same period. In relation to SUI, ELS also has seen higher rental rate growth in both its MH and RV businesses over the last five years, particularly in the latter category. While I believe the valuation is justified, the Seeking Alpha (“SA”) quants see it differently. ELS is graded poorly on this metric, but this is primarily due to factors relat...