Positive topline data from Phase 2 HORIZON trial of MZE829 demonstrating first clinical proof-of-concept in patients with broad AMKD to support advancement into pivotal program; Maze to host conference call today at 8:00 am EDT
Positive topline data from Phase 2 HORIZON trial of MZE829 demonstrating first clinical proof-of-concept in patients with broad AMKD to support advancement into pivotal program; Maze to host conference call today at 8:00 am EDT
Five-year agreements with US$1,000t floor price, no discount to spot pricing and full upside exposure to support Project financingTORONTO, March 25, 2026 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) ("Lithium Ionic" or the "Company") is pleased to announce that it has executed binding multi-year offtake agreements with each of Sichuan Yahua Industrial Group Co., Ltd....
Five-year agreements with US$1,000t floor price, no discount to spot pricing and full upside exposure to support Project financingTORONTO, March 25, 2026 (GLOBE NEWSWIRE) -- Lithium Ionic Corp. (TSXV: LTH; OTCQX: LTHCF; FSE: H3N) ("Lithium Ionic" or the "Company") is pleased to announce that it has executed binding multi-year offtake agreements with each of Sichuan Yahua Industrial Group Co., Ltd. (“Yahua Group”) and Grand Chen Resources Pte. Ltd. (“Grand Chen”), two leading global lithium-ion b
US mortgage rates climbed for a third straight week, pushing home-financing costs to the highest since October and dealing a blow to both purchasing and refinancing activity. The contract rate on a 30-year mortgage rose 13 basis points to 6.43% in the week ended March 20, according to Mortgage Bankers Association data released Wednesday. In the last three weeks, the rate has climbed 34 basis point...
US mortgage rates climbed for a third straight week, pushing home-financing costs to the highest since October and dealing a blow to both purchasing and refinancing activity. The contract rate on a 30-year mortgage rose 13 basis points to 6.43% in the week ended March 20, according to Mortgage Bankers Association data released Wednesday. In the last three weeks, the rate has climbed 34 basis points, the most since November 2024. The group’s index of mortgage applications for home purchases fell 5.4% last week, the biggest drop since January. Refinancing applications tumbled another 14.6% after a steeper decline in the prior week. The pickup in home-financing costs and slowdown in mortgage activity illustrates a widening economic toll from the war in the Middle East. Mortgage rates are tied to movements in the US Treasury market, and the yield on the 10-year note has spiraled higher as the conflict stokes concerns about an oil-driven inflation resurgence. Higher borrowing costs represent a headwind for the long-suffering housing market as it heads into the crucial spring selling season. Builders had already been employing incentives and cutting prices to help drum up demand and reduce inventory. The MBA survey, which has been conducted weekly since 1990, uses responses from mortgage bankers, commercial banks and thrifts. The data cover more than 75% of all retail residential mortgage applications in the US.
PDD Holdings Inc. posted disappointing earnings and warned that growing investments in logistics will hurt its performance. The company posted an 11% fall in net income to 24.5 billion yuan ($3.6 billion) for the December quarter, falling short of the average analysts’ estimate by roughly 16%. Revenue grew 12%, about as anticipated. Its shares slid about 3% in pre-market US trading before recoupin...
PDD Holdings Inc. posted disappointing earnings and warned that growing investments in logistics will hurt its performance. The company posted an 11% fall in net income to 24.5 billion yuan ($3.6 billion) for the December quarter, falling short of the average analysts’ estimate by roughly 16%. Revenue grew 12%, about as anticipated. Its shares slid about 3% in pre-market US trading before recouping most of the losses. PDD, the biggest rival to Alibaba Group Holding Ltd. and JD.com Inc. in the Chinese online retail arena, is grappling with a domestic consumer downturn as well as regulatory scrutiny at home. Beijing agencies broadened a probe into PDD’s accounting and taxes after its employees exchanged blows with regulators in a highly publicized incident in December. “The external environment and competitive landscape are undergoing rapid changes. To meet the evolving needs of consumers, we must continually explore and make investments,” Jun Liu, VP of finance, said in a statement . “These investments are firm and long-term, and will inevitably affect our financial performance.” Read More: China Deepens PDD Probe After Fistfights With Regulators PDD has in the span of a few years grown from a scrappy VC-backed underdog into one of China’s leading e-commerce players, at one point even surpassing Alibaba in market value. Today, it is best known internationally as the owner of Temu, and competes with Shein across the US and Europe. But it’s also grappled with volatile Chinese consumption, escalating tariffs and the scrapping of a tax loophole that helped discount retailers like Temu and Shein flourish in the US.
Felipe Cruz/iStock Editorial via Getty Images Revisiting the Bear Case The last time I wrote about Cosan, I had summarized the bearish thesis as follows: “The company's thesis has been based on high leverage, since high-interest expenses accumulate as a result of the very high-interest rate scenario in Brazil, and dividend generation has been on the verge of insufficiency. Thus, Cosan is forced to...
Felipe Cruz/iStock Editorial via Getty Images Revisiting the Bear Case The last time I wrote about Cosan, I had summarized the bearish thesis as follows: “The company's thesis has been based on high leverage, since high-interest expenses accumulate as a result of the very high-interest rate scenario in Brazil, and dividend generation has been on the verge of insufficiency. Thus, Cosan is forced to divest to strengthen its cash position, something I do not see as healthy or sustainable for a holding company.” To make it clear, Cosan is a conglomerate of companies (Rumo ( RUMOF ), Compass, Moove, Radar, and Raízen) that basically lives off dividends and the appreciation of the equity of its holdings. The problem with the thesis is that Cosan has become an overly complex structure, mixing several cyclical and cash-intensive segments (sugar, ethanol, fuels), causing the market to apply a "conglomerate discount" to the thesis. The Numbers Don’t Tell a Clean Story The latest earnings print (4Q25 and FY25) highlighted some unresolved issues at Cosan in my view. Deleveraging improved, with a 3.3x pro-forma net debt-to-EBITDA ratio vs. 3.7x in 3Q25, with expanded net debt falling by 58% YoY despite the fact that dividends received also fell by 41% in the year, with an interest coverage of 0.9x—showing that Cosan still does not cover its interest expenses with its own cash flow. Cosan's IR The biggest problem, as I see it, is that this debt reduction did not come organically. Cosan carried out a capital increase of R$10.5 billion , diluting its shareholders, and sold core assets (stake in Vale ( VALE )). So, this "improvement" in Cosan's reported results came much more from balance sheet engineering than via cash generation. The structural risk for the holding company remains very high, as I view it, since with Cosan not fully controlling the flow, the dependence of Raízen, Rumo, and Compass on allocating their capital and eventually entering a bad cycle leaves Cosan "in the ...
'Reputation, trust, and confidence of the market is central to everything', says Hong Kong Financial Secretary Paul Chan as the government's number one priority is to ensure a continuous supply of quality issuers coming to the market. (Source: Bloomberg)
'Reputation, trust, and confidence of the market is central to everything', says Hong Kong Financial Secretary Paul Chan as the government's number one priority is to ensure a continuous supply of quality issuers coming to the market. (Source: Bloomberg)
MicroStockHub/iStock via Getty Images By Michiel Tukker, Senior UK & Eurozone Rates Strategist Ceasefire headlines offer hope, but market patience is wearing thin Recent signals that Iran may be open to negotiations, alongside talk of a one-month ceasefire, offer some hope. That said, a series of false starts and premature declarations of victory argue for continued caution. We're seeing euro rate...
MicroStockHub/iStock via Getty Images By Michiel Tukker, Senior UK & Eurozone Rates Strategist Ceasefire headlines offer hope, but market patience is wearing thin Recent signals that Iran may be open to negotiations, alongside talk of a one-month ceasefire, offer some hope. That said, a series of false starts and premature declarations of victory argue for continued caution. We're seeing euro rate markets getting increasingly impatient. Each day that oil trades close to $100, inflation risks increase, as does the probability of rate hikes. On Tuesday, we saw that despite oil trading broadly sideways, the 2Y swap rate still managed to climb throughout the day. ECB officials are not pushing back either, and if anything, seem to take a hawkish stance. Market positions now imply a 70% chance of an April hike and are back to an aggressive three hikes priced in for this year. Besides inflation risk concerns, other parts of the markets are flashing warning signs. Bunds, for example, are beginning to outperform swaps more materially. The 2Y Bund yield now trades more than 25bp below the swap rate, which suggests safe-haven flows are picking up. Those levels are on par with ‘Liberation Day’, and the momentum from the past few days suggests we may not have seen the end yet. The demand for safety and liquidity is also observed in the latest ECB refinancing operations. A total of €17bn of 7-day liquidity was allotted to banks this week, a sharp increase from the average this year of €11bn. This means banks are starting to rely more on relatively expensive funding from the central bank rather than market sources. These signs clearly suggest that markets are being pushed out of their comfort zone. Only a significant decline in uncertainty and energy prices can alleviate the pressure. If not, financial conditions will deteriorate further and in turn weigh on the economic outlook. With the growth backdrop in the eurozone already fragile, we think the back end of the euro swap curve...
The S&P 500 index is still close to all-time highs, despite current geopolitical upheaval. However, under the hood, there has been significant pain for investors not invested in the hottest artificial intelligence (AI) stocks over the last few years. Even Amazon (NASDAQ: AMZN) has significantly underperformed the index over the last five years, despite benefiting from the AI boom. With the stock s...
The S&P 500 index is still close to all-time highs, despite current geopolitical upheaval. However, under the hood, there has been significant pain for investors not invested in the hottest artificial intelligence (AI) stocks over the last few years. Even Amazon (NASDAQ: AMZN) has significantly underperformed the index over the last five years, despite benefiting from the AI boom. With the stock stuck around $200 -- close to where it traded in 2021 -- investors are likely growing impatient with the e-commerce and cloud computing giant. Is it time to bail on Amazon? Or is now the perfect time to buy the stock for your portfolio? Image source: Amazon. Continue reading
Russia Launches Largest One-Day Drone Blitz Of Ukraine War At least seven people were killed in Ukraine on Tuesday after Russia launched a truly massive drone attack that's said to be the largest of the four-year war. Counting both drones and cruise missiles, 979 warheads poured into Ukrainian airspace as diplomatic efforts at ending the war remain stalled and the world's attention focused almost ...
Russia Launches Largest One-Day Drone Blitz Of Ukraine War At least seven people were killed in Ukraine on Tuesday after Russia launched a truly massive drone attack that's said to be the largest of the four-year war. Counting both drones and cruise missiles, 979 warheads poured into Ukrainian airspace as diplomatic efforts at ending the war remain stalled and the world's attention focused almost entirely on the US-Israeli war on Iran. Daylight death from above: A Russian Shahed drone above central Lviv (Reuters via New York Times ) Ukrainian officials said it began with an overnight attack comprising almost 400 long-range drones and 23 cruise missiles. Then, in a surprise twist, Russia unleashed even more in broad daylight. Startled Ukrainians were sent rushing to bomb shelters after alarms rang out around noon, as a swarm of 556 drones hammered cities across the western part of the country, including Lviv, Ternopil, Vinnytsia, Ivano-Frankivsk, Zhytomyr, Zaporizhzhia and Dnipro. Ukraine's air force claimed it shot most of them down , with only 15 of the daytime drones supposedly hitting anything. Ukraine said the impacted structures included apartment buildings, hospitals and a UNESCO World Heritage site. Video captured the dramatic sound and site of a Shahed drone as it descended and then smashed into a what is said to be a residential building in Lviv: WATCH: The moment a Russian drone struck the center of Lviv. pic.twitter.com/QA3R1z4z0H — Clash Report (@clashreport) March 24, 2026 Beyond the broad-daylight aspect of the attacks, the onslaught was noteworthy for its inclusion of the historic city of Lviv in the targeting package . To this point, Lviv -- a city of 700,000 only 40 miles from Poland -- had gone relatively unscathed compared to many other Ukrainian cities. The region's governor, Maksym Kozytskyi struck an alarmed tone, posting, "The threat remains high. Stay in shelters!!!" "Iranian Shaheds, modernized by Russia, hit a church in Lviv -- it's absolut...
Stocks clawed back some losses while bonds rallied and oil prices eased as the Trump administration stepped up efforts to bring the war with Iran to a close. Traders are finding some relief after weeks of headline-driven volatility that have left the S&P 500 on track for its biggest monthly loss in a year. Despite Wednesday’s rebound, investors remain wary as Iran kept up attacks on neighboring st...
Stocks clawed back some losses while bonds rallied and oil prices eased as the Trump administration stepped up efforts to bring the war with Iran to a close. Traders are finding some relief after weeks of headline-driven volatility that have left the S&P 500 on track for its biggest monthly loss in a year. Despite Wednesday’s rebound, investors remain wary as Iran kept up attacks on neighboring states and several officials signaled that the Islamic Republic isn’t ready to negotiate. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards and Lizzy Burden. (Source: Bloomberg)