Poland is joining a group of countries that shield consumers from surging fuel prices with a plan to cut taxes and cap prices at the pump, according to Prime Minister Donald Tusk . The government will reduce the value-added tax and excise levies on fuels as well as impose a cap on retail prices that will be set daily in line with wholesale levels, Tusk told a news conference on Thursday. The moves...
Poland is joining a group of countries that shield consumers from surging fuel prices with a plan to cut taxes and cap prices at the pump, according to Prime Minister Donald Tusk . The government will reduce the value-added tax and excise levies on fuels as well as impose a cap on retail prices that will be set daily in line with wholesale levels, Tusk told a news conference on Thursday. The moves, which need parliamentary approval, are expected to slash fuel costs by 1.2 zloty ($0.32) per liter and could take effect by Easter, Tusk said. The cabinet is also preparing windfall tax on fuel refiners — a measure that’s set to impact Polish energy champion Orlen SA , the largest company in Warsaw’s benchmark WIG20 stock index. Its shares have lost as much as 6.7% in the wake of the announcement. The oil-importing nation has seen one of the sharpest increases in fuel prices among European Union members since the start of the Iran war. Unleaded gasoline costs have jumped 22%, while diesel by 40%, according to European Commission data . This compares with average increases of around 15% for gasoline and 26% for diesel across the 27-nation bloc. Concerns over rising inflationary pressures in Poland since the Iran conflict spiked global oil and gas costs have already wiped out traders’ bets on further monetary easing by the country’s central bank. The average price of unleaded gasoline now stands at 7.14 zloty per liter, while diesel is at 8.69 zloty, up from around 6 zloty before the start of the Middle East conflict, according to data from website e-Petrol.pl.
At least two bid-rigging syndicates could be linked to the HK$336 million (US$43 million) renovation bid for a housing estate destroyed in Hong Kong’s deadliest fire in decades, a lawyer for the competition watchdog has said at the fourth session of an evidential hearing. Lester Lee Hiu-leung, the Competition Commission’s executive director for legal services, also said on Thursday that the watchd...
At least two bid-rigging syndicates could be linked to the HK$336 million (US$43 million) renovation bid for a housing estate destroyed in Hong Kong’s deadliest fire in decades, a lawyer for the competition watchdog has said at the fourth session of an evidential hearing. Lester Lee Hiu-leung, the Competition Commission’s executive director for legal services, also said on Thursday that the watchdog had not ruled out applying to the Competition Tribunal for damages from Will Power Architects...
While Meta's reported layoff plans may look like a sign of weakness, there are reasons to believe the Mag 7 firm can make this move from a position of strength.
While Meta's reported layoff plans may look like a sign of weakness, there are reasons to believe the Mag 7 firm can make this move from a position of strength.
David Tran Adobe ( ADBE ) was downgraded by William Blair on Thursday, as the research firm cited “intense competition” in the creative market. “While we acknowledge that shares are inexpensive at 9 times free cash flow, our primary concern is around the intense competition Adobe faces, particularly in core Creative Cloud,” analyst Arjun Bhatia wrote in a note to clients. “The competitive environm...
David Tran Adobe ( ADBE ) was downgraded by William Blair on Thursday, as the research firm cited “intense competition” in the creative market. “While we acknowledge that shares are inexpensive at 9 times free cash flow, our primary concern is around the intense competition Adobe faces, particularly in core Creative Cloud,” analyst Arjun Bhatia wrote in a note to clients. “The competitive environment raises legitimate questions about what the future looks like for Adobe including what it means for pricing dynamics/pricing power, long-term economics, ability to differentiate, right to win the AI opportunity, the role of professional creators, and Adobe’s hefty margin profile. To be clear, we are not calling Adobe an 'AI loser' with this downgrade but acknowledging that the unknown answers to these questions are likely to keep the stock at least range-bound until there is more clarity.” Bhatia, who lowered the rating on Adobe to Market Perform from Outperform, added artificial intelligence has taken the creative market “by storm” and “essentially overnight, democratized the highly technical skills creative professionals had built.” He pointed to the fact that Canva and Figma ( FIG ) have started to gain traction on the edges of Adobe's core market of creative professionals. Canva has hit the low end, and Figma has gone after the user interface and user experience design market. And while Adobe's Digital Media segment is at a $19B revenue run rate, Canva is now at $4B and growing at more than 30%, while Figma is at $1.2B and growing at 40%. Other companies, such as Midjourney, Synthesia, Runway, and StabilityAI have also entered the market, putting further pressure on Adobe, Bhatia added, not to mention the various pushes from Google ( GOOG ) ( GOOGL ), OpenAI ( OPENAI ), and Apple ( AAPL ). “All of this points to a competitive environment that is not just intense, but also seems to be intensifying. It is early enough in the AI cycle that winners and losers are hard to...
Alones Creative The U.S. is moving military forces into the Persian Gulf region to gain leverage against Iran, but prospects for an early resolution to the conflict remain dim, according to Clay Seigle, senior fellow and James R. Schlesinger chair in energy and geopolitics at the Center for Strategic and International Studies. Following Iran’s flat rejection of President Trump’s peace proposal, Se...
Alones Creative The U.S. is moving military forces into the Persian Gulf region to gain leverage against Iran, but prospects for an early resolution to the conflict remain dim, according to Clay Seigle, senior fellow and James R. Schlesinger chair in energy and geopolitics at the Center for Strategic and International Studies. Following Iran’s flat rejection of President Trump’s peace proposal, Seigle said both nations appear to be “gearing up for the possibility of fighting to continue for a longer period of time.” In an interview with CNBC, Seigle described the current diplomatic standoff as a “giant game of chicken,” with each side waiting for the other to back down from maximalist positions. He noted that Iranian and U.S. demands show little common ground, making a breakthrough unlikely in the near term. The U.S. military buildup includes Marine units and at least one brigade from the 82nd Airborne Division, though not all forces have arrived in theater yet. “This is about increasing leverage in order to get the other guy, the other side, to capitulate,” Seigle explained, adding that the troop movements are a deliberate effort to pressure Iran ahead of the president’s five-day deadline. The ongoing conflict has severely disrupted global energy markets, with Seigle estimating that approximately 210 million barrels of crude have failed to reach markets over three weeks of effective outage from the Gulf. He expressed concern about an “unusual variance” between futures prices ( CL1:COM ), ( CO1:COM ) and the physical market, particularly in Asia, where real shortages are driving prices significantly higher. Seigle agreed with UAE Ambassador Youssef Al Otaiba’s assessment that a temporary ceasefire without addressing underlying issues would merely serve as “a hiatus until the next round of fighting.” Iran has demanded security guarantees against future attacks and the withdrawal of U.S. military personnel from regional bases—positions that face significant resistance...
Duolingo (NASDAQ: DUOL) delivered a strong set of results in its latest earnings report. Revenue grew about 35% year over year to roughly $283 million in the fourth quarter, while the company surpassed $1 billion in annual bookings for the first time. Profitability remained solid, with adjusted EBITDA margins near 30%. By most operating metrics, the business continues to execute well. Yet the stoc...
Duolingo (NASDAQ: DUOL) delivered a strong set of results in its latest earnings report. Revenue grew about 35% year over year to roughly $283 million in the fourth quarter, while the company surpassed $1 billion in annual bookings for the first time. Profitability remained solid, with adjusted EBITDA margins near 30%. By most operating metrics, the business continues to execute well. Yet the stock fell. That disconnect comes down to one thing: A change in investors' expectations. Let's see why. Image source: Getty Images. Continue reading