In this article MBG-DE Follow your favorite stocks CREATE FREE ACCOUNT The Mercedes star, the brand logo of the vehicle manufacturer Mercedes-Benz, rotates on a building of a Mercedes-Benz car dealership. Picture Alliance | Picture Alliance | Getty Images Mercedes-Benz announced a partnership with German startup Tytan Technologies to produce anti-drone vehicles on Wednesday, becoming the latest au...
In this article MBG-DE Follow your favorite stocks CREATE FREE ACCOUNT The Mercedes star, the brand logo of the vehicle manufacturer Mercedes-Benz, rotates on a building of a Mercedes-Benz car dealership. Picture Alliance | Picture Alliance | Getty Images Mercedes-Benz announced a partnership with German startup Tytan Technologies to produce anti-drone vehicles on Wednesday, becoming the latest automaker to join forces with the defense industry. The German carmaker signed a memorandum of understanding at ILA 2026, the International Aerospace Exhibition, under which it will produce vehicles for a mobile air-defense system to target small drones. Mercedes will focus on "vehicle-based drone defense and mission platforms for the protection of people and critical infrastructure," based on the G-Class and Sprinter models, according to a company statement. It makes the Stuttgart-based firm the latest European carmaker to turn to the defense industry, as the auto industry struggles. Why European automakers are turning to defense In March, Renault announced it was developing a ground-based drone for military and civilian use and, in January, announced a partnership with defense group Turgis Gaillard to produce aerial drones in France. Meanwhile, Volkswagen has signed a letter of intent with Israeli defense firm Rafael to produce parts for missile defense systems, Reuters reported on April 30. The European car industry has found itself mired in a structural crisis , with slowing demand for electric vehicles, lost market share to Chinese competitors and higher borrowing costs. The defense sector has boomed after Russia launched a full-scale invasion of Ukraine in 2022 and necessitates Europe to become more self-sufficient in its defense production. The transition is achievable in part because many of the underlying skills of employees are highly transferable. Germany's Ministry of Defence has launched a matchmaking platform, which is "bringing established defense companies tog...
China’s rapid adoption of artificial intelligence in the workplace has prompted an unusually blunt call from a state-run newspaper to protect labor rights, as Beijing considers how to contain risks posed by the new technology. In an editorial published on Thursday, the Workers’ Daily — the official mouthpiece of China’s umbrella trade union organization — urged government agencies to mount an acti...
China’s rapid adoption of artificial intelligence in the workplace has prompted an unusually blunt call from a state-run newspaper to protect labor rights, as Beijing considers how to contain risks posed by the new technology. In an editorial published on Thursday, the Workers’ Daily — the official mouthpiece of China’s umbrella trade union organization — urged government agencies to mount an active response as new threats emerge to the rights of employees. It called on regulators to improve labor standards and strengthen oversight of AI algorithms, including by giving a greater say to trade unions and workers’ representatives. “The benefits of technological advancement should be shared by society as a whole, rather than becoming a tool for a small number of employers to undermine workers’ rights,” the editorial said. It was titled “With the AI wave surging, how can we build a strong ‘dam’ for workers’ rights?” The deployment of AI tools around the world presents an especial challenge for China, where employment is a politically sensitive issue and maintaining social stability is a priority for top leaders. Evidence is already mounting that the technology is causing heavy job losses in countries like the US. As AI spreads across workplaces, China is also having to contend with chronic weakness in the jobs market — a major obstacle for Beijing’s efforts to revive confidence among households. Citigroup Inc. has estimated that China’s “widespread but still shallow” adoption of AI eventually threatens to displace 70 million workers in the country. The looming disruption has prompted the Workers’ Daily to publish a series of reports devoted to labor protections during what it called the “AI wave.” The newspaper was founded in 1949 — the same year the Communists established the People’s Republic of China — to act as a “voice for China’s working class,” and it remains among the leading state media outlets in the country. China’s Tech Shift to Create Jobs But Leave Many B...
Traders work at the New York Stock Exchange on June 9, 2026. NYSE Stock futures rose early Thursday as the U.S. announced it has completed its strikes against Iran, though Gulf countries reported hostile activity from Tehran. S&P 500 futures gained 0.4%, and Nasdaq 100 futures added 0.6%. Futures tied to the Dow Jones Industrial Average rose 110 points, or 0.2%. Asia-Pacific markets opened lower T...
Traders work at the New York Stock Exchange on June 9, 2026. NYSE Stock futures rose early Thursday as the U.S. announced it has completed its strikes against Iran, though Gulf countries reported hostile activity from Tehran. S&P 500 futures gained 0.4%, and Nasdaq 100 futures added 0.6%. Futures tied to the Dow Jones Industrial Average rose 110 points, or 0.2%. Asia-Pacific markets opened lower Thursday, with South Korea's Kospi leading losses. The Kospi dropped 4.1% in early trading. Japan's Nikkei 225 declined 2.3% and Australia's benchmark S&P/ASX 200 was down 0.97%. Shares of Oracle dropped more than 11% in extended trading after the software giant announced plans to raise an additional $20 billion in equity and debt to pay for its artificial intelligence buildout. The decline weighed on S&P 500 futures and the iShares Expanded Tech-Software Sector ETF (IGV) , heralding potential losses in the tech sector in the upcoming session. U.S. Central Command forces launched more "self-defense strikes" against Iran late Wednesday, according to Centcom's post on social media platform X . The attacks came at the direction of President Donald Trump , according to the post. West Texas Intermediate crude futures advanced nearly 3% to trade around $92 a barrel. Stocks fell during Wednesday's regular trading session, thanks to another rout in the chip sector and a ramp-up in tensions with Iran. The Dow tumbled 953.33 points, or 1.87%, while the S&P 500 fell 1.62%. The tech-heavy Nasdaq Composite lost 1.98%. Victoria Fernandez, chief market strategist at Crossmark Global Investments, said that many investors are now buying into what they believe to be the opposite of the artificial intelligence trade that drove stocks for much of this year. "I think what people are saying are, where can we go that kind of hedges that tech trade? What would be the antithesis of the momentum and the beta?" she said on CNBC's " Closing Bell " on Wednesday afternoon. "We're seeing that rotation out...
Earnings Call Insights: Chewy (CHWY) Q1 2026 Management View "Chewy delivered solid results in Q1, continuing to outperform the broader pet category while further expanding profitability and free cash flow" (CEO & Director Sumit Singh), while noting "the consumer environment" that "weakened in the latter parts of the quarter" (CEO & Director Singh). "Q1 net sales grew 7.7% year-over-year to approx...
Earnings Call Insights: Chewy (CHWY) Q1 2026 Management View "Chewy delivered solid results in Q1, continuing to outperform the broader pet category while further expanding profitability and free cash flow" (CEO & Director Sumit Singh), while noting "the consumer environment" that "weakened in the latter parts of the quarter" (CEO & Director Singh). "Q1 net sales grew 7.7% year-over-year to approximately $3.36 billion" and "we ended the quarter with 21.5 million active customers" (CEO & Director Singh). He also highlighted that Autoship "reaching 84.4% of total net sales" (CEO & Director Singh). On profitability drivers and longer-term margin framing, Singh said "Q1 adjusted EBITDA margin reached 7.5%" and management "remain[s] on track to reach our 10% adjusted EBITDA margin target over time" (CEO & Director Singh). On Chewy Health and clinic expansion, Singh said Modern Animal "closed shortly after quarter end" and "accelerates the expansion of CVC" (CEO & Director Singh). He added, "Combined, we expect to operate approximately 60 clinics exiting fiscal 2026 with embedded revenue contribution approaching approximately $290 million at a steady state" (CEO & Director Singh). On AI, Singh said, "we continue to expect AI-driven efficiencies to contribute a low tens of millions of dollars benefit in fiscal 2026" (CEO & Director Singh). "During the quarter, we deployed capital across several strategic priorities, including the acquisition of SmartPak and approximately $200 million of share repurchases" (CFO Chris Deppe). Deppe also said Chewy "launched a $600 million Term Loan B transaction" and intends to "target net leverage below 2x adjusted EBITDA" over time (CFO Deppe). Outlook Analysts’ estimates JSON was provided, but it uses an invalid fiscal quarter format (numbers rather than Q1-Q4), so comparisons were not used. "For fiscal 2026, we now expect net sales of between approximately $13.40 billion and $13.55 billion" (CFO Deppe), including "approximately $80 milli...
FTSE 100 up 82 points to 10,336 Oil lifted as Trump threatens to take Iran oil sites ECB raises interest rates for first time since 2023 Halma plunges despite reporting record profit 2.58pm: Intel and semi stocks lead Nasdaq higher US stocks have joined in the day's positive mood,...
FTSE 100 up 82 points to 10,336 Oil lifted as Trump threatens to take Iran oil sites ECB raises interest rates for first time since 2023 Halma plunges despite reporting record profit 2.58pm: Intel and semi stocks lead Nasdaq higher US stocks have joined in the day's positive mood,...
Robeco's Thu Ha Chow sees Indonesia’s out-of-cycle interest rate hike this week as reflecting policymakers’ willingness to address investor concerns. Speaking on The China Show, Chow added that while Indonesia is at the beginning of a turnaround story, it’s not quite there yet. (Source: Bloomberg)
Robeco's Thu Ha Chow sees Indonesia’s out-of-cycle interest rate hike this week as reflecting policymakers’ willingness to address investor concerns. Speaking on The China Show, Chow added that while Indonesia is at the beginning of a turnaround story, it’s not quite there yet. (Source: Bloomberg)