(RTTNews) - Swiss wealth management firm Julius Baer Gruppe AG (JBAXY.PK, JBARF.PK, BAER.SW), in its four-month trading statement, on Friday reported all-time high assets under management and exceptional client activity. Net new money inflows were 3 billion Swiss francs in the period. Looking ahead, the company said it does not currently anticipate a return to the exceptionally high levels of clie...
(RTTNews) - Swiss wealth management firm Julius Baer Gruppe AG (JBAXY.PK, JBARF.PK, BAER.SW), in its four-month trading statement, on Friday reported all-time high assets under management and exceptional client activity. Net new money inflows were 3 billion Swiss francs in the period. Looking ahead, the company said it does not currently anticipate a return to the exceptionally high levels of client activity seen in the first quarter of 2026 in the coming months following the softening in client activity observed in April. However, the company projects substantially higher IFRS net profit for the first half of 2026 than the same period last year, with strong overall performance in the opening months - supported by the absence of significant one-off effects The firm also reconfirmed its net new money target of 4 percent to 5 percent by 2028. In the interim management statement for the first four months of 2026, the company reported gross margin increased to 90 basis points, compared to an underlying level of 80 bp in the second half of fiscal 2025, driven by a significant rise in client activity. The company noted that activity-driven income was particularly strong during the first three months of the year, before easing notably in April. Assets under management was 528 billion Swiss francs, reflecting a 1 percent increase since year-end 2025. The growth was driven by positive market performance and net new money inflows. The company also announced that it has appointed Thomas Frauenlob and Rajesh Manwani to its Executive Board, effective June 1. Frauenlob is Co-Head Region Western Markets & Switzerland, based in Zurich, and Manwani is Co-Head Global Products & Solutions, based in Singapore. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
In this article 7974.T-JP Follow your favorite stocks CREATE FREE ACCOUNT This photograph shows displayed collectible cards from the Pokemon Trading Card Game (TCG) at an amateur collector's appartment in Paris on March 11, 2026. Martin Lelievre | Afp | Getty Images When I was a kid in the late 90s, collecting Pokémon cards was a fun hobby. I'd buy packs, hoping to get the rarest "shinies," or hol...
In this article 7974.T-JP Follow your favorite stocks CREATE FREE ACCOUNT This photograph shows displayed collectible cards from the Pokemon Trading Card Game (TCG) at an amateur collector's appartment in Paris on March 11, 2026. Martin Lelievre | Afp | Getty Images When I was a kid in the late 90s, collecting Pokémon cards was a fun hobby. I'd buy packs, hoping to get the rarest "shinies," or holographic cards. We'd trade with friends and even go to meet-ups to trade cards trying to "catch 'em all" —a catchphrase that defined the franchise that had gone from Nintendo Game Boy to an anime TV show. When I started collecting again two years ago, things had changed. I've stood in line with 100 people in a parking lot outside a toy store for the latest restock of cards. I've seen four men huddled around their car talking about how much they could make by selling the trunk of cards they bought during a morning hitting different stores. New cards can sell out in minutes. People coordinate on X and Discord to know where to go. There are similar scenes in the U.S. Videos have circulated on social media of people stampeding over each other to get their hands on card packs. There have even been reports of smash-and-grab thefts of stores that stock cards. Prized cards resell at multiples of what they retail for. The rarest can sell for millions of dollars. It's a stark contrast from when I could walk into any store and buy however many I wanted. A long line of people had formed outside Smyths toy store in Staines, U.K., before the store had opened as fans looked to get their hands on the latest restock of Pokemon cards on March 28, 2026. Arjun Kharpal | CNBC From 2004 to 2020, Pokémon card prices rose 282%, according to an index compiled by Collectors, which owns card grading agency Professional Sports Authenticator (PSA). Since 2020, prices have risen by an incredible 1,350%, per the index. Prices have surged and even outperformed traditional asset classes, attracting the att...
Elon Musk-led commercial spaceflight giant SpaceX‘s IPO could become a problem for Tesla Inc. (NASDAQ:TSLA) investors and shareholders as the market readies itself for the June IPO date. Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot ...
Elon Musk-led commercial spaceflight giant SpaceX‘s IPO could become a problem for Tesla Inc. (NASDAQ:TSLA) investors and shareholders as the market readies itself for the June IPO date. Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot be a positive for Tesla,” Joe Gilbert, a portfolio manager at Integrity Asset Management, cited in the report, said, expressing concern for Tesla shares. Read Also: Elon Musk's Tesla Army Faces Space X IPO: Will Capital Rotate From TSLA Into SPCX? Gilbert said that SpaceX will be Musk’s “new baby” at Tesla’s “expense” despite the billionaire having shown that he can manage multiple businesses at the same time in the past, the report said. The expert also said he expects SpaceX to have an “astronomical valuation.” The IPO could also give investors an alternative way into the “Muskonomy,” which is a colloquial term used to describe all of Musk-led businesses, including Tesla, SpaceX, Brain-Chip Interface company Neuralink, as well as the tunneling startup The Boring Co. SpaceX-Tesla Merger Nicholas Colas, the co-founder of DataTrek Research, cited in the report, said that the IPO’s effects on Tesla shares wouldn’t be felt until at least three months following the listing, but it could initially benefit via S&P 500 passive investments. Colas then touted merging Tesla with SpaceX. “If I were advising anyone, I'd be like, let's just get all this under one roof,” he said, outlining that Tesla’s investors hinged investments on Musk’s future goals and his leadership. “The best approach is to have one company,” Colas said. Investor Dan Ives, who is the managing director of Wedbush Securities and a Tesla bull, has advocated for a merger between the two entities in the past. Most recently, Ives said that there was an 80% chance that the two companies would merge following SpaceX’s S-1...
Elon Musk-led commercial spaceflight giant SpaceX‘s IPO could become a problem for Tesla Inc. (NASDAQ:TSLA) investors and shareholders as the market readies itself for the June IPO date. Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot ...
Elon Musk-led commercial spaceflight giant SpaceX‘s IPO could become a problem for Tesla Inc. (NASDAQ:TSLA) investors and shareholders as the market readies itself for the June IPO date. Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot be a positive for Tesla,” Joe Gilbert, a portfolio manager at Integrity Asset Management, cited in the report, said, expressing concern for Tesla shares. Read Also: Elon Musk's Tesla Army Faces Space X IPO: Will Capital Rotate From TSLA Into SPCX? Gilbert said that SpaceX will be Musk’s “new baby” at Tesla’s “expense” despite the billionaire having shown that he can manage multiple businesses at the same time in the past, the report said. The expert also said he expects SpaceX to have an “astronomical valuation.” The IPO could also give investors an alternative way into the “Muskonomy,” which is a colloquial term used to describe all of Musk-led businesses, including Tesla, SpaceX, Brain-Chip Interface company Neuralink, as well as the tunneling startup The Boring Co. SpaceX-Tesla Merger Nicholas Colas, the co-founder of DataTrek Research, cited in the report, said that the IPO’s effects on Tesla shares wouldn’t be felt until at least three months following the listing, but it could initially benefit via S&P 500 passive investments. Colas then touted merging Tesla with SpaceX. “If I were advising anyone, I'd be like, let's just get all this under one roof,” he said, outlining that Tesla’s investors hinged investments on Musk’s future goals and his leadership. “The best approach is to have one company,” Colas said. Investor Dan Ives, who is the managing director of Wedbush Securities and a Tesla bull, has advocated for a merger between the two entities in the past. Most recently, Ives said that there was an 80% chance that the two companies would merge following SpaceX’s S-1...
Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot be a positive for Tesla,” Joe Gilbert, a portfolio manager at Integrity Asset Management, cited in the report, said, expressing concern for Tesla shares. Gilbert said that SpaceX will be ...
Muskonomy The upcoming IPO could take investors’ appetite away from Tesla and onto SpaceX, while also shifting Musk’s efforts and focus from the EV giant, experts cited by Bloomberg on Thursday said. “This cannot be a positive for Tesla,” Joe Gilbert, a portfolio manager at Integrity Asset Management, cited in the report, said, expressing concern for Tesla shares. Gilbert said that SpaceX will be Musk’s “new baby” at Tesla’s “expense” despite the billionaire having shown that he can manage multiple businesses at the same time in the past, the report said. The expert also said he expects SpaceX to have an “astronomical valuation.” The IPO could also give investors an alternative way into the “Muskonomy,” which is a colloquial term used to describe all of Musk-led businesses, including Tesla, SpaceX, Brain-Chip Interface company Neuralink, as well as the tunneling startup The Boring Co. SpaceX-Tesla Merger Nicholas Colas, the co-founder of DataTrek Research, cited in the report, said that the IPO’s effects on Tesla shares wouldn’t be felt until at least three months following the listing, but it could initially benefit via S&P 500 passive investments. Colas then touted merging Tesla with SpaceX. “If I were advising anyone, I'd be like, let's just get all this under one roof,” he said, outlining that Tesla’s investors hinged investments on Musk’s future goals and his leadership. “The best approach is to have one company,” Colas said. Check out more of Benzinga's Future Of Mobility coverage by following this link.
Richemont ’s full-year sales rose more than expected as shoppers splurged on its pricey Cartier bracelets and rings, helping the Swiss group weather a luxury market slowdown better than most rivals. Sales climbed 11% on a constant currency basis in the fiscal year ended in March, the company said Friday, compared with the 9.78% estimate of analysts surveyed by Bloomberg. Richemont has proved resil...
Richemont ’s full-year sales rose more than expected as shoppers splurged on its pricey Cartier bracelets and rings, helping the Swiss group weather a luxury market slowdown better than most rivals. Sales climbed 11% on a constant currency basis in the fiscal year ended in March, the company said Friday, compared with the 9.78% estimate of analysts surveyed by Bloomberg. Richemont has proved resilient during the luxury downturn in part because of its focus on fine jewelry, which is often viewed as a better store of value than expensive apparel and leather goods. Hopes earlier this year that the broader industry was poised to emerge from its slump evaporated with the war in the Middle East, which reduced demand in the region and darkened the global economic outlook. UBS analyst Zuzanna Pusz estimates Richemont gets about 9% of its revenue from the Middle East, where the onset of the conflict affected sales in high-end shopping hubs like Dubai. Luxury groups LVMH Moet Hennessy Louis Vuitton SE , Gucci-owner Kering SA and Hermes International SCA all reported weaker-than-expected first-quarter sales. Richemont shares have fallen 9% this year in Zurich, compared with a 27% decline in LVMH, whose brands include Louis Vuitton and Christian Dior.
(RTTNews) - European stocks are seen opening higher on Friday amid renewed optimism about U.S.-Iran talks. As peace talks continue with Pakistan's mediation, both sides are still at odds over Tehran's uranium stockpile and future control of the Strait of Hormuz. As Iranian officials review Washinton's latest peace proposal, U.S. Secretary of State Macro Rubio said there were "some encouraging sign...
(RTTNews) - European stocks are seen opening higher on Friday amid renewed optimism about U.S.-Iran talks. As peace talks continue with Pakistan's mediation, both sides are still at odds over Tehran's uranium stockpile and future control of the Strait of Hormuz. As Iranian officials review Washinton's latest peace proposal, U.S. Secretary of State Macro Rubio said there were "some encouraging signs" but warned of "other options" if talks fail. Rubio criticized Iran's efforts to regulate vessel movement through the Strait of Hormuz after reports emerged that Iran is discussing a permanent toll arrangement with Oman for ships transiting the crucial waterway. While Asian markets extended gains from the previous session, the dollar held near six-week highs amid expectations that elevated oil prices due to the near closure of the Strait of Horuz will fuel inflation and force central banks to keep interest rates elevated. Brent crude futures were up nearly 2 percent above $104 a barrel but were set for a 6 percent drop this week. Gold prices were subdued at $4,530 an ounce on increased expectations for Federal Reserve rate hikes. U.S. stocks ended a choppy session slightly higher overnight as oil prices and bond yields retreated on hopes for a diplomatic way out of the war in Iran. Investors reacted to reports suggesting that Iran's Supreme Leader has issued a directive that the country's near-weapons-grade uranium should not be sent abroad. Later, a senior Iranian official said no new order has been issued, calling the reports "propaganda by the enemies of the deal." On the earnings front, chip giant Nvidia reported better than expected first quarter results, but the focus was on how long it can sustain rapid growth. Walmart reported its slowest growth in a key sales metric in two years and issued a profit warning for the current quarter. The Dow rose 0.6 percent to reach a new record closing high while the S&P 500 added 0.2 percent and the tech-heavy Nasdaq Composite fi...
Hong Kong’s anti-corruption watchdog has charged a 62-year-old woman with allegedly bribing a Legal Aid Department clerk to secure custody of her grandson. The Independent Commission Against Corruption (ICAC) said on Thursday that Wen Congmei allegedly offered HK$10,000 (US$1,280) to the clerk in September last year. She faces one count of offering an advantage to a public servant. Wen has been re...
Hong Kong’s anti-corruption watchdog has charged a 62-year-old woman with allegedly bribing a Legal Aid Department clerk to secure custody of her grandson. The Independent Commission Against Corruption (ICAC) said on Thursday that Wen Congmei allegedly offered HK$10,000 (US$1,280) to the clerk in September last year. She faces one count of offering an advantage to a public servant. Wen has been released on bail and is due to appear at West Kowloon Court on Friday for mention. Advertisement According to the ICAC, Wen’s son – who was receiving legal aid – was involved in custody proceedings concerning her grandson. Wen had been in contact with a department clerk handling the case and allegedly handed over an envelope containing HK$10,000 in cash. Advertisement She later phoned to ask the clerk to grant her son custody of her grandson.
Kagenmi Japan's annual inflation decreased to 1.4% in April 2026 from 1.5% in the previous month. The core consumer price index, excluding fresh food but including energy, also went up by 1.4% year-on-year, down from 1.8% and below market expectations of 1.7%. This is the lowest level since March 2022 and has stayed under the Bank of Japan's 2% target for three months. Food prices increased by 3.5...
Kagenmi Japan's annual inflation decreased to 1.4% in April 2026 from 1.5% in the previous month. The core consumer price index, excluding fresh food but including energy, also went up by 1.4% year-on-year, down from 1.8% and below market expectations of 1.7%. This is the lowest level since March 2022 and has stayed under the Bank of Japan's 2% target for three months. Food prices increased by 3.5% year-on-year in April, slightly lower than the previous month’s rise of 3.6% and marking the mildest pace since October 2024. The Nikkei 225 Index jumped 1.7% to above 62,700, while the broader Topix Index rose 0.7% to 3,880, and the Japanese yen slipped to around 159 per dollar, as softer domestic inflation eased pressure on the Bank of Japan to tighten monetary policy in the near term. More on Japan economy DXJ: Japanese Equities Remain Attractive; Positive Carry Enhances The Appeal EWJ: The Land Of The Rising Sun Is Set For Continued Growth JPY Intervention - Unilateral Or Joint Will Be Key Japan Economic Update: Exports drive surprise trade surplus; core orders and May PMI slip Asian tech stocks rally following Nvidia blockbuster and Samsung strike reprieve
Republicans call off vote on Iran war resolution that was on the verge of passing toggle caption Mariam Zuhaib/AP WASHINGTON — Republicans struggled Thursday to find the votes to dismiss legislation that would compel President Donald Trump to withdraw from the war with Iran, delaying planned votes on the matter into June. The House had scheduled a vote on a war powers resolution, brought by Democr...
Republicans call off vote on Iran war resolution that was on the verge of passing toggle caption Mariam Zuhaib/AP WASHINGTON — Republicans struggled Thursday to find the votes to dismiss legislation that would compel President Donald Trump to withdraw from the war with Iran, delaying planned votes on the matter into June. The House had scheduled a vote on a war powers resolution, brought by Democrats, that would rein in Trump's military campaign. But as it became clear that Republicans would not have the numbers to defeat the bill, GOP leaders declined to hold a vote on it. It was the latest sign of the slipping support in Congress for a war that Trump launched more than two months ago without congressional approval. Sponsor Message "We had the votes without question and they knew it, and as a result they're playing a political game," said Democratic Rep. Gregory Meeks, who sponsored the bill. Republicans in the Senate are also working to ensure they have the votes to dismiss another war powers resolution that advanced to a final vote earlier this week, when four GOP senators supported the resolution and three others were absent from the vote. The actions by congressional leaders showed Republicans are struggling to maintain political backing for Trump's handling of the war. Rank-and-file Republicans are increasingly willing to defy the president over the conflict. House Republican Leader Steve Scalise told reporters that the vote was delayed to give lawmakers who were absent a chance to vote. House Speaker Mike Johnson did not answer questions from reporters as he exited the House chamber. Frustration with Iran war grows on Capitol Hill On Capitol Hill, patience with the war has worn thin as the stalemate in the Strait of Hormuz disrupts global shipping and elevates gas prices in the U.S. Another House war powers resolution nearly passed last week, falling on a tie vote as three Republicans voted in favor. Meeks, the top Democrat on the House Foreign Affairs Commit...
Robert Way/iStock Editorial via Getty Images I'm keeping Vipshop Holdings Limited ( VIPS ) as a "Buy"-rated name. VIPS's 1Q2026 operating income and earnings per share surpassed expectations. Looking ahead, I see it returning to positive revenue/earnings growth on a full-year basis in FY26. The group's promising near-term outlook and solid stockholder returns were the focus of my prior March 2, 20...
Robert Way/iStock Editorial via Getty Images I'm keeping Vipshop Holdings Limited ( VIPS ) as a "Buy"-rated name. VIPS's 1Q2026 operating income and earnings per share surpassed expectations. Looking ahead, I see it returning to positive revenue/earnings growth on a full-year basis in FY26. The group's promising near-term outlook and solid stockholder returns were the focus of my prior March 2, 2026, write-up . Positive on Profit Outperformance VIPS revealed the latest financial numbers in a press release issued this Thursday. Its year-on-year EBIT increase improved from 4Q25's +1.7% to 1Q26's +9.7%. According to S&P Capital IQ, the recent three-month figure of CNY2,498M beat the consensus forecast by 5%. The firm's Jan-Mar '26 bottom line of CNY4.68/share was also 2% above the sell-side's projection. It recovered from a 3.9% YoY earnings contraction in 4Q2025 to register flattish growth in 1Q2026. In my view, VIPS's above-expectations showing was attributable to the success of its loyalty program, higher gross profit margin (GPM), and leaner operations. My early-March article noted that "Vipshop's Super VIP, or SVIP, members are a high-value segment" boasting superior "average shopping frequency and ARPU." The number of clients in this category rose 9% last quarter on a YoY basis. Their contribution to aggregate expenditures on VIPS's portal also went up 3 ppts QoQ to 55% for the first three months of this year. Separately, multiple factors drove a widening of the company's 1Q26 GPM by 120 bps year-on-year to 24.4%. At the analyst briefing , the CFO highlighted VIPS's "margins remain healthy and stable, underpinned by highly favorable category mix." It's reasonable for me to assume that it sold a greater proportion of high-value apparel in the first quarter. I'm impressed with the enterprise's procurement strategy too. The CEO's results meeting commentary drew attention to the accumulation of "exclusive low-priced inventory that is now flowing through the platform....