Hi, this is Kati Pohjanpalo in Helsinki. Welcome to our weekly newsletter on what’s shaping economies and investments from the Arctic to the Baltic Sea. You can subscribe here . The Best Offense This week’s NATO summit in Ankara wasn’t only dominated by US President Donald Trump griping about Greenland. On the sidelines, two of the alliance’s newest members — Sweden and Finland — benefited from bi...
Hi, this is Kati Pohjanpalo in Helsinki. Welcome to our weekly newsletter on what’s shaping economies and investments from the Arctic to the Baltic Sea. You can subscribe here . The Best Offense This week’s NATO summit in Ankara wasn’t only dominated by US President Donald Trump griping about Greenland. On the sidelines, two of the alliance’s newest members — Sweden and Finland — benefited from big-ticket defense deals. NATO agreed to a $5 billion contract to purchase airborne radar-detection systems from Sweden’s Saab. And Finland, Norway and Denmark are among the nations planning to buy up to five Triton surveillance aircraft from Northrop Grumman at a cost of $2.7 billion. Finland’s President Alexander Stubb threw his support behind getting Ukraine a license to manufacture the air defense Patriot systems it desperately needs — and the push appears to have worked . In an interview with my colleague Kirsi Heikel, Finnish Defense Minister Antti Häkkänen said that with last year’s summit spent ironing out the details of future defense spending and this year’s gathering focused on ginning up €50 billion in deals for war gear, the “easy part” is now done. Europe’s next big task, he said, is finding enough soldiers willing to fight. “In Finland, we have regular fathers and mothers trained to serve in the military and defend their country when needed,” Häkkänen said. “But across Europe, finding people is a big challenge.” Finland, which guards half of the alliance’s border with Russia, can draw on its reserve of trained conscripts to muster a wartime force of about 280,000. That’s significantly higher than any other Nordic country — and many others — which begs the question of whether it will be enough for NATO to rely on active troops and member countries’ current conscription models. Sights and Smells of Ankara So what was it like on the ground during the NATO summit? The first thing visitors noticed was what wasn’t there: traffic. Miles of roads were cleared as motorc...
The European Union accused Meta Platforms Inc. of using addictive design and disregarding the risks it poses to children, as the bloc ramps up an investigation into the US social media company. The EU’s executive branch, the European Commission , issued preliminary findings on Friday that Meta’s Facebook and Instagram use personalized recommendations, autoplay and infinite scroll, contributing to ...
The European Union accused Meta Platforms Inc. of using addictive design and disregarding the risks it poses to children, as the bloc ramps up an investigation into the US social media company. The EU’s executive branch, the European Commission , issued preliminary findings on Friday that Meta’s Facebook and Instagram use personalized recommendations, autoplay and infinite scroll, contributing to compulsive use of the platforms. Time management tools for teens were easily dismissed, while parental controls required technical expertise, time and effort to use effectively, the commission said in a statement. The preliminary findings, which confirm a Bloomberg report last month, escalate a probe into Meta that began in May 2024 under the Digital Services Act, or DSA. A ruling has not yet been issued and Meta will be able to respond to the findings. Social media companies are coming under increasing pressure from regulators around the world to protect children, as parents and lawmakers worry about online bullying and exposure to adult content. The UK and other countries are seeking a range of restrictions on children’s use of social media platforms in the wake of curbs Australia introduced last year. In the US, Meta and other social media giants face thousands of lawsuits over similar claims that its products are addictive and causing a mental health crisis among teenagers. More than 1,300 school districts have filed complaints claiming that products like Instagram and Google’s YouTube are making school learning environments worse for students. Thousands of additional students, parents and other young adults have filed individual cases against the companies alleging harm. The first of these cases went to trial in Los Angeles earlier this year and a jury found that Instagram and YouTube were liable for harming a 20-year-old woman’s mental health; the companies had to collectively pay the woman $6 million. The commission’s preliminary findings accused Meta of disregarding...
To illustrate how uniquely challenging the restructuring experience is for the unacquainted, C Street Advisory Group founder and CEO Jon Henes recalled a client CEO’s sentiment after complex, hardball restructuring negotiations: “Every time we walk into a room ... I feel like I’m in one big game of poker. Except you know what your cards are and you know what my cards are and you know what everybod...
To illustrate how uniquely challenging the restructuring experience is for the unacquainted, C Street Advisory Group founder and CEO Jon Henes recalled a client CEO’s sentiment after complex, hardball restructuring negotiations: “Every time we walk into a room ... I feel like I’m in one big game of poker. Except you know what your cards are and you know what my cards are and you know what everybody in the room’s cards are and so do they. The only person who doesn’t know what anybody’s cards are
The stock market doesn't always get it right. Periodically, investors can find inefficiencies that can yield higher returns than the S&P 500 average. Sometimes the market notices underpriced assets right away, while in other cases it can take several months or even years. Investors who are looking for buy-the-dip opportunities in the tech sector may want to consider these three picks. Image source...
The stock market doesn't always get it right. Periodically, investors can find inefficiencies that can yield higher returns than the S&P 500 average. Sometimes the market notices underpriced assets right away, while in other cases it can take several months or even years. Investors who are looking for buy-the-dip opportunities in the tech sector may want to consider these three picks. Image source: Getty Images. Adobe (NASDAQ: ADBE) is one of the many software stocks that took a beating when Claude's artificial intelligence features fueled the plunge in the software as a service (SaaS) sector. Investors feared AI would replace many software businesses or stunt future growth, but that hasn't been the case for many companies, including Adobe. Continue reading
Two Chinese military pilots, including a high-ranking tactical commander, were killed during frontline flight training exercises last month, according to official regional government notices and local media tracking. Beijing, which seldom discloses military fatalities, has not made any statement about the deaths, and it is not known if the pilots were killed in the same incident. China, which is a...
Two Chinese military pilots, including a high-ranking tactical commander, were killed during frontline flight training exercises last month, according to official regional government notices and local media tracking. Beijing, which seldom discloses military fatalities, has not made any statement about the deaths, and it is not known if the pilots were killed in the same incident. China, which is aggressively modernising its armed forces, has intensified training on new tactics and hardware to...
After two years of almost uninterrupted downgrades, analysts are now raising European earnings estimates at the fastest pace since mid-2024. A Citigroup Inc. index shows that European analyst upgrades of profit estimates have exceeded downgrades for a 10th week in a row after being negative all of this year. The last time there was a sequence like this two years ago, forecasts started to drop in t...
After two years of almost uninterrupted downgrades, analysts are now raising European earnings estimates at the fastest pace since mid-2024. A Citigroup Inc. index shows that European analyst upgrades of profit estimates have exceeded downgrades for a 10th week in a row after being negative all of this year. The last time there was a sequence like this two years ago, forecasts started to drop in the weeks before the reporting period began. European profits are expected to rise 12% this season, the highest growth in more than three years, according to data compiled by Bloomberg Intelligence. Elevated oil prices are set to have boosted profits at energy companies while banks, among the beneficiaries of artificial intelligence adoption in Europe, are also projected to have another strong earnings season. While the high bar has raised concerns around potential disappointment in results that may play in out share prices, some market participants said Europe Inc. has enough fuel to power the next leg of the benchmark’s record-breaking equity rally. “European earnings are misunderstood and underappreciated, benefiting from inflation, AI and global diversification,” said Marina Zavolock , chief European equity strategist at Morgan Stanley. She raised her 2026 earnings growth forecast for MSCI Europe firms to 12.5%, and expects the benchmark to rally another 10% over the coming year. Cheap Stock Valuations Are Masking Lofty Earnings Expectations Goldman Says Earnings to Drive Next Leg of Rally in HALO Stocks UBS Strategists Turn Biggest European Stock Bulls With 8% Upside After trailing US peers since March, the Stoxx Europe 600 Index outperformed the S&P 500 Index last month as geopolitical risks eased following an interim Iran peace deal. While tensions have ratcheted up again in recent days, oil prices remain below levels seen at the height of the war. Investors are slowly returning to the region’s assets. European equity funds attracted inflows of about $400 million in t...
SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Tuesday, June 30, 2026. South Korean firms including Samsung and SK Hynix will spend at least 1,350 trillion won ($880 billion) on chips and data centers as the country seeks to maintain its edge in the AI era. Photographer: SeongJoon Cho/Bloomberg
SK Hynix Inc. signage at the company's office in Seongnam, South Korea, on Tuesday, June 30, 2026. South Korean firms including Samsung and SK Hynix will spend at least 1,350 trillion won ($880 billion) on chips and data centers as the country seeks to maintain its edge in the AI era. Photographer: SeongJoon Cho/Bloomberg
Police in Greece on Friday said they had arrested three people in connection to attacks this month that targeted ruling party politicians, killing a woman in a car explosion. Hours later, two more people were held over a 2010 deadly firebomb attack that left three dead. In the recent case, “three individuals have been arrested” by anti-terror police in Thessaloniki and the island of Crete, the pol...
Police in Greece on Friday said they had arrested three people in connection to attacks this month that targeted ruling party politicians, killing a woman in a car explosion. Hours later, two more people were held over a 2010 deadly firebomb attack that left three dead. In the recent case, “three individuals have been arrested” by anti-terror police in Thessaloniki and the island of Crete, the police said in a statement. The July 1 attacks at dawn in the northern city of Thessaloniki targeted...
Conor McGregor is welcomed back by fans as he rips Max Holloway's glasses off in an intense face-off before the pair's rematch at UFC 329 in Las Vegas on Saturday.
Conor McGregor is welcomed back by fans as he rips Max Holloway's glasses off in an intense face-off before the pair's rematch at UFC 329 in Las Vegas on Saturday.
Vitalij Sova New Hampshire has rejected a proposal for a $100M bitcoin ( BTC-USD )-backed municipal bond, which would've been the first of its kind issued under a state's authority. The state's Executive Council voted 3-2 against the proposal about three months after the bond received a provisional Ba2 rating from Moody's. The Business Finance Authority of the State of New Hampshire proposed selli...
Vitalij Sova New Hampshire has rejected a proposal for a $100M bitcoin ( BTC-USD )-backed municipal bond, which would've been the first of its kind issued under a state's authority. The state's Executive Council voted 3-2 against the proposal about three months after the bond received a provisional Ba2 rating from Moody's. The Business Finance Authority of the State of New Hampshire proposed selling $100M of taxable municipal bonds entirely backed by bitcoin. BitGo Trust would've served as custodian for the bitcoin collateral. CleanSpark ( CLSK ) would borrow the proceeds and deposit $175M of bitcoin ( BTC-USD ) collateral into a trust, from which bond payments would be paid, Bloomberg News reported. If the value of the bitcoin held as collateral dropped below $140M, the fund would be liquidated and bondholders would be paid in full. No taxpayer dollars would've been involved. But the Executive Council was concerned that the bonds wouldn't deliver concrete benefits to New Hampshire. "This is facilitating a private loan, essentially," Councilor Karen Liot Hill said. "We are being asked as a state to lend a kind of legitimacy to a financial transaction, which is an emerging asset class that's been shown to be very volatile." "It was an extremely short-sighted decision," Keith Ammon, majority floor leader in the New Hampshire House of Representatives, posted on X. "They should gather all relevant facts and information and reconsider their vote at a future meeting." More on bitcoin Strategy: A Good Pivot To Get Through The Bitcoin Winter Bitcoin Sentiment Is Dire Bitcoin steadies as ETF inflows absorb Strategy selling - Bitfinex Bitcoin slips as Trump says Iran ceasefire 'over'
(RTTNews) - French stocks turned in a mixed performance in cautious trade Friday morning with concerns about the ongoing conflict between Iran and the U.S., and AI valuations forcing investors to refrain from making big moves.
(RTTNews) - French stocks turned in a mixed performance in cautious trade Friday morning with concerns about the ongoing conflict between Iran and the U.S., and AI valuations forcing investors to refrain from making big moves.
Shifting market dynamics have raised an existential question: Does diversification, the cornerstone of portfolio management, still make sense when the world is undergoing seismic changes? Bloomberg Opinion columnist Shuli Ren explains. (Source: Bloomberg)
Shifting market dynamics have raised an existential question: Does diversification, the cornerstone of portfolio management, still make sense when the world is undergoing seismic changes? Bloomberg Opinion columnist Shuli Ren explains. (Source: Bloomberg)