AlexSecret The U.S. PMI Composite slipped to 51.4 from 51.9 in February as the service PMI's decline more than offset the manufacturing sector's improvement, according to data released by S&P Global on Tuesday. U.S. business activity slowed to an 11-month low in March, reflecting slightly weaker new orders gains and a spike in prices after the outbreak of war in the Middle East. Manufacturing PMI ...
AlexSecret The U.S. PMI Composite slipped to 51.4 from 51.9 in February as the service PMI's decline more than offset the manufacturing sector's improvement, according to data released by S&P Global on Tuesday. U.S. business activity slowed to an 11-month low in March, reflecting slightly weaker new orders gains and a spike in prices after the outbreak of war in the Middle East. Manufacturing PMI of 52.4 in March, topping the. 51.5 consensus, increased from 51.6 in February, signaling an eighth straight month of improvement in factory business conditions. "Production growth accelerated slightly as new orders showed the largest rise since last October," S&P Global said. "Input inventories also contributed positively, rising again after falling for the first time in seven months in February as factories sought to ensure supply of inputs amid delivery worries." Services PMI dipped to 51.1 , missing the 52.0 consensus, from 51.7 prior. "Companies are reporting a hit to demand from the additional uncertainty and cost of living impact generated by the conflict," said Chris Williamson, chief business economist at S&P Global Market Intelligence. "Travel, transport, and tourism-related issues are compounded by financial market jitters and affordability constraints, notably including concern over the impact of higher interest rates, surging energy prices, and supply chain delays." More on the US Economy Yesterday's Optimism Turns More Guarded U.S. Debt Hits $39 Trillion: Post-WWII Playbook Revisited Productivity revised lower to 1.8% in Q4, while labor costs revised higher Chicago Fed National Activity Index dips in February
Exclusive: UK regulator makes U-turn over TalkTV and TalkRadio complaints after claims it let some broadcasters ‘spout dangerous climate lies’ A U-turn by the UK’s broadcasting regulator Ofcom means it will investigate complaints of climate change denial on television and radio for the first time since 2017. The move marks a victory for campaigners who have accused the regulator of allowing some b...
Exclusive: UK regulator makes U-turn over TalkTV and TalkRadio complaints after claims it let some broadcasters ‘spout dangerous climate lies’ A U-turn by the UK’s broadcasting regulator Ofcom means it will investigate complaints of climate change denial on television and radio for the first time since 2017. The move marks a victory for campaigners who have accused the regulator of allowing some broadcasters “to spout dangerous climate lies” and “flout” rules on accuracy and impartiality. Complaints about programmes on TalkTV and TalkRadio were assessed by Ofcom, which then decided not to investigate, the same result as more than 1,000 other climate complaints since 2020. However, after a letter from the Good Law Project (GLP) in January, requesting an explanation for the rejections, Ofcom said it had withdrawn its original decision and would “consider afresh” the complaints. Continue reading...
Significant regulatory milestone marks advancement into clinical-stage development of next-generation RNAi therapy featuring an innovative, integrated systemic treatment delivery approach targeting highly prevalent KRAS-driven cancers with significant unmet medical need
Significant regulatory milestone marks advancement into clinical-stage development of next-generation RNAi therapy featuring an innovative, integrated systemic treatment delivery approach targeting highly prevalent KRAS-driven cancers with significant unmet medical need
In recent months, I’ve argued that ASML (NASDAQ:ASML) should sit on every investor’s radar because of its near-monopoly in extreme ultraviolet (EUV) lithography — the critical technology powering the AI chip boom. When the stock dipped two weeks ago on fears of Chinese competition, I called those concerns overblown. Beijing’s domestic efforts remain years behind, ... ASML Lands Massive EUV Deal Cl...
In recent months, I’ve argued that ASML (NASDAQ:ASML) should sit on every investor’s radar because of its near-monopoly in extreme ultraviolet (EUV) lithography — the critical technology powering the AI chip boom. When the stock dipped two weeks ago on fears of Chinese competition, I called those concerns overblown. Beijing’s domestic efforts remain years behind, ... ASML Lands Massive EUV Deal Clearing Path to Double Revenue by 2030
Alvin Man United Airlines ( UAL ) is planning an ambitious expansion of its fleet and service with the addition of more than 250 aircraft over the next two years—the most by any airline during this timeframe. Since announcing its “United Next” growth strategy in 2021, the carrier has added 326 Boeing ( BA ) and Airbus ( EADSF ) ( EADSY ) aircraft to its fleet, completed 70% of its plan to retrofit...
Alvin Man United Airlines ( UAL ) is planning an ambitious expansion of its fleet and service with the addition of more than 250 aircraft over the next two years—the most by any airline during this timeframe. Since announcing its “United Next” growth strategy in 2021, the carrier has added 326 Boeing ( BA ) and Airbus ( EADSF ) ( EADSY ) aircraft to its fleet, completed 70% of its plan to retrofit its mainline, narrow-body fleet, replaced more than 100 regional jets, and increased premium seats by 40%. The new aircraft added to United’s ( UAL ) current fleet include the new Airbus ( EADSF ) ( EADSY ) A321neo Coastliner and A321XLR, the addition of which will mean United ( UAL ) now offers double the “lie-flat seats” of its closest competitor. The Coastline will be used primarily for transcontinental flights, while the A321XLR will be used for international routes. The company is also taking delivery of 47 Boeing ( BA ) 787-9 Dreamliners with an elevated interior. 33 of which will be configured with additional premium seats, becoming United’s ( UAL ) “most premium international aircraft yet.” The inaugural flight for this craft is scheduled for April 22 to fly from San Francisco to Singapore. "These new planes and products not only complement our fleet and network plans, but they also give our customers more premium amenity and seat choices,” United CEO Scott Kirby said in a statement . The new fleet comes at the same time as airlines are faced with higher fuel costs and the potential for travelers to reconsider flying amid security delays and tighter wallets. Recently, Kirby warned that higher jet fuel prices will impact the carrier’s bottom line “soon.” But although United is adding planes to its regional carrier and 119 Boeing 737 MAXs, it’s banking on its premium customers to drive profits. In its most recent quarterly results, United ( UAL ) said premium revenue increased 9% for the quarter and 11% for the year compared to +7% and +5% for basic economy, respecti...
Maksim Labkouski/iStock via Getty Images By Bert Colijn, Chief Economist, Netherlands Ahead of the Middle East conflict, optimism among European businesses was strong. Growth was maintaining a decent pace over previous quarters, and expectations of increased public investment were boosting hopes of a rebound among manufacturers. But the war has put paid to hopes of short-term growth acceleration. ...
Maksim Labkouski/iStock via Getty Images By Bert Colijn, Chief Economist, Netherlands Ahead of the Middle East conflict, optimism among European businesses was strong. Growth was maintaining a decent pace over previous quarters, and expectations of increased public investment were boosting hopes of a rebound among manufacturers. But the war has put paid to hopes of short-term growth acceleration. Businesses were much less optimistic in March, according to the Purchasing Managers' Index, and reported significant increases in input costs and supply chain disruptions. The bright spot was the manufacturing sector, where the output PMI remained broadly stable (51.7 compared to 51.9 in February). This still indicates decent output growth for now, but the mood among manufacturers for the months ahead has become more downbeat. The eurozone’s vulnerabilities are once again laid bare. For energy-intensive industry, this means that a recovery will be harder to achieve, which matters significantly for overall production. And consumers are less confident with prices at the pump having jumped, which means that household consumption could be under pressure despite decent wage growth. The services PMI already reported a big decline, from 51.9 to 50.1. For the eurozone economy, a return to strength depends very much on the length of the Middle East conflict. A fairly fast end would boost hopes of a more modest impact on consumer prices and would increase chances of a rebound for industry. But as today’s PMI illustrates, business conditions have worsened for the moment, and optimism is taking a hit. Content Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more . Original Post
Alones Creative Oil prices ( CL1:COM ), ( CO1:COM ) will take a couple of quarters to return to the comfortable $70-80 per barrel range even after a diplomatic agreement is reached on the Strait of Hormuz crisis, according to Aditya Saraswat, Rystad Energy’s Research Director for the MENA region. In an interview with CNBC, Saraswat cautioned that despite recent headlines suggesting negotiations be...
Alones Creative Oil prices ( CL1:COM ), ( CO1:COM ) will take a couple of quarters to return to the comfortable $70-80 per barrel range even after a diplomatic agreement is reached on the Strait of Hormuz crisis, according to Aditya Saraswat, Rystad Energy’s Research Director for the MENA region. In an interview with CNBC, Saraswat cautioned that despite recent headlines suggesting negotiations between the U.S. and Iran, the resumption of energy trade through the critical waterway remains months away. The current market volatility is being driven by “headline arbitrage” rather than fundamentals, Saraswat explained, pointing to the whiplash that followed President Trump’s Truth Social post suggesting negotiations with Iran were underway. Prices dropped nearly 10% before recovering when Iranian officials denied the talks were happening. The Rystad analyst emphasized that this is “a military and a political problem, which is something that energy markets and especially the oil and gas markets cannot solve on its own.” The disruption has already become the largest in the history of oil markets, with active field closures occurring across the region. The Strait of Hormuz accounts for approximately 20% of global oil and LNG trade, with the majority flowing toward Asian markets. “We are months away from resumption of energy trade through the Strait of Hormuz,” Saraswat said, noting that even once de-escalation begins, there will be an additional lag of about a month before supply resumption can follow. Operational challenges will further complicate any recovery. With storage facilities at full capacity, operators in the Gulf will need two to four weeks to bring shut-in fields back to pre-conflict production levels, depending on the maturity of the fields and any damages incurred during the shutdown process. Even after traffic begins to normalize, high premiums will persist as the market tests the durability of any political resolution. Saraswat expects shipping traffic to ...
A former Hong Kong civil servant has been jailed for 12 months for threatening to burn down the newsrooms of the South China Morning Post and five other media outlets if they refused to publish seditious material he had created to frame the husband of his former girlfriend. West Kowloon Court on Tuesday heard the guilty pleas from Tse Chun-pan, 43, who had set up a website selling merchandise them...
A former Hong Kong civil servant has been jailed for 12 months for threatening to burn down the newsrooms of the South China Morning Post and five other media outlets if they refused to publish seditious material he had created to frame the husband of his former girlfriend. West Kowloon Court on Tuesday heard the guilty pleas from Tse Chun-pan, 43, who had set up a website selling merchandise themed around the 2019 anti-government protests and demanded that six local media publish screenshots of...