A more rigorous appraisal system for Hong Kong’s civil servants aims to bolster public trust and support, but adjustment to the changes will take time, the city’s leader has said. Facing backlash from unions, Chief Executive John Lee Ka-chiu said on Tuesday that the government would provide further explanation of the revamped appraisal system, which he described as a “fair reward and punishment me...
A more rigorous appraisal system for Hong Kong’s civil servants aims to bolster public trust and support, but adjustment to the changes will take time, the city’s leader has said. Facing backlash from unions, Chief Executive John Lee Ka-chiu said on Tuesday that the government would provide further explanation of the revamped appraisal system, which he described as a “fair reward and punishment mechanism” to enhance morale within the civil service. The government unveiled enhancement measures...
AlexSecret/iStock via Getty Images S&P Global ( SPGI ) has had a very tough start to the year, down 17%. The decline was kickstarted in Q1 by a weaker-than-expected full-year guide, and while this guide was not bad in totality, it comes at a time when there are several AI fears surrounding this company and its peers, particularly as it relates to the Market Intelligence business. To complicate mat...
AlexSecret/iStock via Getty Images S&P Global ( SPGI ) has had a very tough start to the year, down 17%. The decline was kickstarted in Q1 by a weaker-than-expected full-year guide, and while this guide was not bad in totality, it comes at a time when there are several AI fears surrounding this company and its peers, particularly as it relates to the Market Intelligence business. To complicate matters further, the company is pursuing a spin-off of its Mobility business in the coming weeks. While this is absolutely a net positive for the company, I still don't see enough upside on the valuation front to warrant buying shares at this time, especially with the AI overhang. A Household Name in Flux S&P Global is a provider of benchmarks, data, analytics, and workflow solutions in the global capital, energy, commodity, and automotive markets. The data can be used in virtually every industry around the globe. The company has five core businesses - Market Intelligence, Ratings, Energy, Mobility and Indices. The segment revenue mix is approximately 31.2% for Ratings, 31.2% for Market Intelligence, 15.6% for Energy, 12.4% for Indices, and 10.9% for Mobility. As we begin to think about revenue type, 48% of sales come from Subscription, 24% come from non-subscription transactions, 13% are non-transaction, 8% are asset-linked fees, 4% are recurring variable fees, and the remainder at 3% are sales usage-based royalties. By geography, approximately 63% of sales come from the US, while 22% is in the European region, 10% is in Asia, and 5% is in Rest of World. All divisions and geographies grew in Q1. With a business like SPGI, AI becomes a primary concern, which is really worth digging into further. The stock is down a lot this year, primarily due to the fear that AI will start to eat away at market share. When the company initially unveiled its full-year guide back in Q1, the stock sold off since it was about ~3% below consensus. While that's not a lot to be concerned about, they...
(RTTNews) - European stocks are seen opening mixed on Tuesday as traders weigh a fragile ceasefire between Israel and Iran and look forward to upcoming ECB policy decision later this week for direction.
(RTTNews) - European stocks are seen opening mixed on Tuesday as traders weigh a fragile ceasefire between Israel and Iran and look forward to upcoming ECB policy decision later this week for direction.
(RTTNews) - Air Canada (AC.TO) said it has strengthened its licence verification procedures after Transport Canada imposed a monetary penalty on a former pilot who lacked the required certification to serve as a captain.
(RTTNews) - Air Canada (AC.TO) said it has strengthened its licence verification procedures after Transport Canada imposed a monetary penalty on a former pilot who lacked the required certification to serve as a captain.
South Korea's cabinet on Tuesday approved an enforcement decree to implement Seoul's $350B investment commitment in the U.S., a key part of a bilateral trade agreement that secured lower U.S. tariffs on South Korean exports. The decree will take effect on June 18 alongside the Special Act for Korea-U.S. Strategic Investment Management, which was passed by the National Assembly in March. The invest...
South Korea's cabinet on Tuesday approved an enforcement decree to implement Seoul's $350B investment commitment in the U.S., a key part of a bilateral trade agreement that secured lower U.S. tariffs on South Korean exports. The decree will take effect on June 18 alongside the Special Act for Korea-U.S. Strategic Investment Management, which was passed by the National Assembly in March. The investment package stems from a Korea-U.S. agreement reached last year and consists of two components: $200B earmarked for investments in strategic U.S. industries and $150B dedicated to shipbuilding cooperation. The new decree outlines criteria for evaluating projects, including their "commercial viability," and establishes procedures for managing and overseeing the investments. Under the regulations, projects will qualify as "commercially viable" if the total income allocated to South Korea over the life of the investment is sufficient to cover both the principal and interest. The interest rate used in that calculation will be based on the yield of 20-year U.S. Treasury bonds, plus an additional spread to be agreed upon by Seoul and Washington when each investment is initiated. In addition, Soeul will establish the Korea-U.S. Strategic Investment Corporation, a new entity that will operate for 20 years and be seeded with 2T won (~$1.3B) in government funding. More on South Korea South Korean stocks plunge as traders scale back AI bets Most global central banks remain above inflation targets, BofA says