(RTTNews) - European stocks traded higher on Thursday as U.S.-China talks got underway and official data showed the U.K. economy grew at a faster pace in the first quarter, driven by contribution from all three sectors.
(RTTNews) - European stocks traded higher on Thursday as U.S.-China talks got underway and official data showed the U.K. economy grew at a faster pace in the first quarter, driven by contribution from all three sectors.
A fertilizer producer in Oman is considering plans to raise several hundred million dollars in one of the biggest initial public offerings in the Middle East since the regional war began. Oman India Fertiliser Co. is targeting a valuation of at least $2.5 billion in a planned listing, according to people familiar with the matter, who declined to be identified discussing confidential information. T...
A fertilizer producer in Oman is considering plans to raise several hundred million dollars in one of the biggest initial public offerings in the Middle East since the regional war began. Oman India Fertiliser Co. is targeting a valuation of at least $2.5 billion in a planned listing, according to people familiar with the matter, who declined to be identified discussing confidential information. The deal could launch as early as June and would see shareholders sell a combined stake of about 25%, some of the people said. The IPO will come as a welcome boost to both the Muscat exchange and the wider Middle East region, where dealflow had started to taper off even before the war began. A successful listing from the Omani firm, alongside a handful of planned Saudi offerings , could help revive issuance across the region. Read More: Billionaire Olayans, Tech Firms Look to Ignite Saudi IPO Revival Oman’s state energy group OQ SAOC owns 50% of OMIFCO, as the company is known, with the remaining shareholding split equally between Indian agricultural cooperatives IFFCO and Kribhco. The three shareholders are expected to reduce their stakes proportionately, people familiar with the matter said. Discussions are ongoing and no final decisions have been made on the timing or size of any deal. OQ declined to comment, while the two Indian cooperatives did not respond to requests for comment. The planned deal comes amid a rally in fertilizer prices on the back of the regional conflict, as part of which Iran has effectively shuttered the Strait of Hormuz. At the same time, Omani asset prices have rallied as investors bet the sultanate would benefit from export routes that bypass the waterway. Muscat’s bourse has outperformed regional peers since the war began on Feb. 28, rising over 9%. The benchmark index is up about 38% this year, extending gains initially driven by expectations of a possible MSCI upgrade. Societe Generale SA , Arqaam Capital Ltd. and Bank Muscat SAOG are among th...
In this article PSNYW Follow your favorite stocks CREATE FREE ACCOUNT Electric-vehicle maker Polestar told CNBC Thursday that "range anxiety" has been replaced by "pump anxiety," amid worries around a Middle East crisis that has global energy prices soaring. "People are concerned, 'how much do I pay at the gas station?'" Polestar CEO Michael Lohscheller told CNBC's "Squawk Box Europe." The company...
In this article PSNYW Follow your favorite stocks CREATE FREE ACCOUNT Electric-vehicle maker Polestar told CNBC Thursday that "range anxiety" has been replaced by "pump anxiety," amid worries around a Middle East crisis that has global energy prices soaring. "People are concerned, 'how much do I pay at the gas station?'" Polestar CEO Michael Lohscheller told CNBC's "Squawk Box Europe." The company is seeing increased demand for both used and new EVs as fuel prices have risen following the disruption at the Strait of Hormuz, a narrow waterway that normally carries around a fifth of the world's oil supply. "In the past, people considered EVs for idealistic reasons, and now the decision is all about money," Lohscheller said. watch now VIDEO 10:32 10:32 Polestar CEO sees strong EV demand since Hormuz crisis Squawk Box Europe His comments come a week after the Chinese-owned, Sweden-based company reported a widening net loss of $383 million in the first quarter, hurt by pricing pressures, intensified competition, and EU and U.S. tariffs, even as volumes rose by 7% year-on-year. "[The] automotive industry is super competitive... Look at what is happening in China, the market becomes hyper competitive," Lohscheller said on Thursday, adding that Europe needs to "speed up." He also highlighted uncertainty in the U.S. market, including disappearing tax incentives and consumer concerns about rising costs. Oil prices have soared since the U.S. and Israel attacked Iran in late February. On Thursday morning, U.S. West Texas Intermediate futures with June delivery were at $101.27 a barrel, and the international benchmark Brent crude futures were at $106.31, up about 50% each since Feb. 27 Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Designer suggests decision to stage show in Los Angeles is part of strategy to deepen label’s cinema presence Like Christian Dior, the founder of the house he now leads, fashion designer Jonathan Anderson’s ambition is to be not just a Parisian couturier but a Hollywood power player. “We think of Dior as this romantic character, but he was also a very savvy businessman,” said Anderson before a blo...
Designer suggests decision to stage show in Los Angeles is part of strategy to deepen label’s cinema presence Like Christian Dior, the founder of the house he now leads, fashion designer Jonathan Anderson’s ambition is to be not just a Parisian couturier but a Hollywood power player. “We think of Dior as this romantic character, but he was also a very savvy businessman,” said Anderson before a blockbuster catwalk show in Los Angeles. Stage Fright, the Hitchcock caper-noir for which Dior dressed Marlene Dietrich, was the show’s origin story. “There is all this amazing correspondence between Dior, Dietrich and Hitchcock, which shows how he navigated the money that it cost to make that film. I think we underestimate how much negotiation Dior did with studio executives. He was very smart in that way.” Anderson, 41, who was born in Northern Ireland but since being appointed to Dior splits his time between London and Paris, has his own Hollywood side hustle as the costume designer for Luca Guadagnino’s films, and is set on reinvigorating Dior’s relationship with the film industry. Continue reading...
Earnings Call Insights: MicroVision (MVIS) Q1 2026 Management View "Over the first quarter, we made significant progress integrating these technologies, teams, operations and customer relationships acquired through Luminar and Scantinel." (CEO & Director Glen DeVos) "What we have today is one MicroVision organization." "We have successfully restarted key Luminar commercial programs." (CEO & Direct...
Earnings Call Insights: MicroVision (MVIS) Q1 2026 Management View "Over the first quarter, we made significant progress integrating these technologies, teams, operations and customer relationships acquired through Luminar and Scantinel." (CEO & Director Glen DeVos) "What we have today is one MicroVision organization." "We have successfully restarted key Luminar commercial programs." (CEO & Director DeVos) "We resumed shipments across multiple customer engagements, continue receiving repeat orders from existing customers and expanded work with prospective customers across industrial, security and defense and automotive applications, our 3 key end markets." "Customer feedback of our MOVIA S has been incredibly positive, and we are on schedule for a planned production launch later this year." (CEO & Director DeVos) "We have just announced our collaboration with Avular on a fully integrated payload to further expand our capability and access to markets for drones." (CEO & Director DeVos) "No, it's not an exclusive arrangement." (CEO & Director DeVos) "Third, we closed on a $43 million financing deal in February" and "a portion of the funds raised used to repay the $19.5 million of outstanding principal balance and interest on a previous note." (Interim Chief Financial Officer Stephen Hrynewich) "The company has the flexibility to pay the new notes in cash or common stock." Outlook "In terms of revenue, we are maintaining our projection of $10 million to $15 million." (Interim Chief Financial Officer Hrynewich) "As mentioned on our last call, we expect most of our revenue to come in the second half of the year." "Regarding cash burn from operations plus CapEx, we are improving our guidance to approximately $60 million for the year from our previous guidance of $65 million to $70 million as we are seeing the benefits of our integration activities and synergy cost reduction actions." (Interim Chief Financial Officer Hrynewich) "And finally, we are elevating our gross marg...
(RTTNews) - German stocks moved higher on Thursday with investors focusing on the two-day summit in Beijing where U.S. President Donald Trump and Chinese President Xi Jinping are set to discuss various issues, including trade, security and try to strengthen economic cooperation.
(RTTNews) - German stocks moved higher on Thursday with investors focusing on the two-day summit in Beijing where U.S. President Donald Trump and Chinese President Xi Jinping are set to discuss various issues, including trade, security and try to strengthen economic cooperation.
The yuan recorded its longest stretch of gains against the dollar in nearly a decade in offshore trading, following positive signs from the first day of a key US-China summit. The freely-traded offshore yuan advanced as much as 0.1% to 6.7816 per dollar Thursday, marking its strongest level since February 2023. It has gained for 11 sessions. The Chinese currency also rose for an eighth consecutive...
The yuan recorded its longest stretch of gains against the dollar in nearly a decade in offshore trading, following positive signs from the first day of a key US-China summit. The freely-traded offshore yuan advanced as much as 0.1% to 6.7816 per dollar Thursday, marking its strongest level since February 2023. It has gained for 11 sessions. The Chinese currency also rose for an eighth consecutive day onshore, where its daily movement is confined to a 2% trading band around a reference rate. The yuan’s extended appreciation came after President Donald Trump and his Chinese counterpart Xi Jinping held a closely-watched meeting in Beijing, with the US leader predicting a “fantastic” future for the two nations. Meanwhile, Xi signaled China is moving toward greater openness during his meeting with visiting US business leaders. Xi’s latest pledge to further open up the world’s second-largest economy may strengthen the yuan’s appeal as an international currency, according to Elias Haddad , global head of markets strategy at Brown Brothers Harriman & Co. “International usage of the yuan is very low compared to China’s share of world GDP and world trade, implying potential for usage increase,” said Haddad. “We will continue to be long-term bulls on CNH, reflecting its internationalization potential and China’s internal rebalancing story.” Deutsche Bank AG also turned more bullish on the Chinese currency, lifting its yuan forecast to 6.55 per dollar from 6.7 by the end of 2026. “History and our analysis suggest that a surge in China’s imports of upstream products will likely be followed by a further pickup in export orders, or a recovery of domestic demand, or both,” the bank’s economists led by Yi Xiong wrote in a note.
Russia unleashed the largest aerial attack on Ukraine over a two-day period since the war began, pounding the capital Kyiv and other cities across the country with hundreds of drones, Ukrainian officials said on Thursday. President Volodymyr Zelensky said that Russia had launched more than 1,560 drones since the start of Wednesday. Overnight on Thursday, Moscow fired more than 670 attack drones a...
Russia unleashed the largest aerial attack on Ukraine over a two-day period since the war began, pounding the capital Kyiv and other cities across the country with hundreds of drones, Ukrainian officials said on Thursday. President Volodymyr Zelensky said that Russia had launched more than 1,560 drones since the start of Wednesday. Overnight on Thursday, Moscow fired more than 670 attack drones and 56 missiles against Ukraine, he said. Air defence units shot down 41 missiles and 652 drones...
Shares of New World Development (NWD) – the beleaguered property developer owned by one of Hong Kong’s richest families – fell on Thursday, after the firm acknowledged it had made no progress on plans to dispose of a mega shopping centre project and introduce new investors. The stock tumbled by as much as 4.7 per cent in Hong Kong, before paring some of the losses to close 4.3 per cent lower at HK...
Shares of New World Development (NWD) – the beleaguered property developer owned by one of Hong Kong’s richest families – fell on Thursday, after the firm acknowledged it had made no progress on plans to dispose of a mega shopping centre project and introduce new investors. The stock tumbled by as much as 4.7 per cent in Hong Kong, before paring some of the losses to close 4.3 per cent lower at HK$8.95. The Hang Seng Index remained largely unchanged for the day. NWD was still in talks with Hong...