Proxy advisers ISS and Glass Lewis have warned Starbucks ( SBUX ) that it may be underestimating the financial and reputational risks from its prolonged labor disputes and weakening board oversight. The firms argued that dismantling a dedicated labor-oversight committee, alongside continued strikes and legal exposure, raises governance concerns ahead of the key March 25 shareholder meeting. ISS hi...
Proxy advisers ISS and Glass Lewis have warned Starbucks ( SBUX ) that it may be underestimating the financial and reputational risks from its prolonged labor disputes and weakening board oversight. The firms argued that dismantling a dedicated labor-oversight committee, alongside continued strikes and legal exposure, raises governance concerns ahead of the key March 25 shareholder meeting. ISS highlighted “ongoing controversies” around labor disputes, including repeated work stoppages and a $38.9M Fair Workweek settlement in New York over scheduling violations, as evidence that oversight may be insufficient. Meanwhile, Glass Lewis criticized Starbucks' ( SBUX ) decision to dissolve the Environmental, Partner, and Community Impact Committee, formed in 2023 to supervise labor relations and social impact, and now recommends voting against director Beth Ford, who oversees the nominating and governance committee. Starbucks ( SBUX ) has also been under pressure from investor groups such as the New York State Comptroller’s Office and SOC Investment Group, who have also warned that unresolved conflicts could undermine CEO Brian Niccol's turnaround strategy. For its part, Starbucks ( SBUX ) responded that these critics represent only a minority of shareholders and noted labor oversight has shifted to the full board as part of a streamlined governance structure. It was also noted that with unions representing roughly 6% of U.S. stores, the recent strikes have been limited and temporary. The labor clash traces all the way back to late 2021, when a Buffalo, New York store became the first U.S. Starbucks to unionize with Workers United. A rapid organizing wave reached more than 50 unionized locations by mid-2022 and over 350 by late 2023. During the period, workers filed hundreds of unfair labor practice charges, and the NLRB found multiple violations, while high-visibility strikes such as Red Cup Day walkouts attracted media attention. Starbucks ( SBUX ) and the union agreed o...
SSE Business Lab CEO Isabel Keulen speaks with Bloomberg’s Tom Mackenzie about how Sweden is “punching above its weight” in tech—producing more unicorns per capita than any European country. She reveals the founder networks, global mindset, and culture that power Sweden’s startup ecosystem. (Source: Bloomberg)
SSE Business Lab CEO Isabel Keulen speaks with Bloomberg’s Tom Mackenzie about how Sweden is “punching above its weight” in tech—producing more unicorns per capita than any European country. She reveals the founder networks, global mindset, and culture that power Sweden’s startup ecosystem. (Source: Bloomberg)
High-efficiency screen highlights BVN, VECO, BLBD and E as potential outperformers, backed by strong earnings surprise trends and solid operational metrics.
High-efficiency screen highlights BVN, VECO, BLBD and E as potential outperformers, backed by strong earnings surprise trends and solid operational metrics.
Eli Lilly's major investment in China's manufacturing capacity is a strategic move to secure its supply chain and capture a vast, untapped growth market.
Eli Lilly's major investment in China's manufacturing capacity is a strategic move to secure its supply chain and capture a vast, untapped growth market.
Hewlett Packard Enterprise Company (NYSE:HPE) is on our list of the 11 best value stocks to invest in according to billionaires. Stemming from the growing demand for networking infrastructure and AI-optimized systems, Hewlett Packard Enterprise (NYSE:HPE) is attracting investor interest after reporting solid quarterly profitability and a bullish outlook. The company’s Q1 sales of $9.30 […]
Hewlett Packard Enterprise Company (NYSE:HPE) is on our list of the 11 best value stocks to invest in according to billionaires. Stemming from the growing demand for networking infrastructure and AI-optimized systems, Hewlett Packard Enterprise (NYSE:HPE) is attracting investor interest after reporting solid quarterly profitability and a bullish outlook. The company’s Q1 sales of $9.30 […]
ASphotowed/iStock Editorial via Getty Images I've kept Renault SA ( RNSDF )( RNLSY )(RNO.FP) as a buy-rated name. RNSDF hosted a "Strategy Day" branded as "futuREady" (S&P Capital IQ transcript) on Tuesday, March 10, 2026. Disclosures from this event have made me more confident about its prospects. If you were considering a potential investment in Renault, its favorable margin and dividend outlook...
ASphotowed/iStock Editorial via Getty Images I've kept Renault SA ( RNSDF )( RNLSY )(RNO.FP) as a buy-rated name. RNSDF hosted a "Strategy Day" branded as "futuREady" (S&P Capital IQ transcript) on Tuesday, March 10, 2026. Disclosures from this event have made me more confident about its prospects. If you were considering a potential investment in Renault, its favorable margin and dividend outlook would have made a strong case for its attractiveness. A 50bps EBIT-to-revenue expansion is expected in the coming years. The stock should be able to maintain a high single-digit dividend yield, considering the capital returns policy. The company's above-consensus 3Q25 topline and potential H2 financial improvement were outlined in my earlier October 27, 2025 write-up . Management Reaffirms Key Goals At February's 4Q25 results briefing , RNSDF disclosed its aim to register a " 5% to 7% operating profit margin (OPM)" for "the midterm." The firm also committed to "deliver every year a EUR 400 cost reduction per vehicle." The above-mentioned objectives were echoed at "futuREady" this week. I'm encouraged by the continued focus on profitability. The group's FY2026 EBIT-to-sales guide is 5.5%. As per S&P Capital IQ, analysts are projecting that OPM will improve to 5.8% and 6.0% in FY28 and FY29, respectively. This is consistent with RNSDF's aspirations. Also, the enterprise's Q4 call commentary emphasized its shareholder return policy involving a "progressive increase in dividend per share." That will be supported by the targeted yearly "Free Cash Flow/FCF" expansion from 2026's €1.0B to €1.5B over the intermediate-term. It's reassuring for me to learn that these remain unchanged at the recent investor event. The stock's trailing dividend-to-price is 7.6% based on an FY25 payout of EUR 2.2/share. Its forward yields look even more appealing with the assumption of growing cash distributions. Multiple Levers For Margin Accretion And Cash Flow Generation My take is that RNSDF's targ...
BNP Paribas SA is holding discussions with investors about a potential significant risk transfer tied to about €2.5 billion ($2.9 billion) of corporate loans, according to people familiar with the matter, as the war in the Middle East tests risk appetite. Marketing is at an early stage and the terms are subject to change, said the people, who declined to be identified because the discussions are p...
BNP Paribas SA is holding discussions with investors about a potential significant risk transfer tied to about €2.5 billion ($2.9 billion) of corporate loans, according to people familiar with the matter, as the war in the Middle East tests risk appetite. Marketing is at an early stage and the terms are subject to change, said the people, who declined to be identified because the discussions are private. The deal, under BNP Paribas’s Resonance program, comes amid rising anxiety of a global stagflationary shock. A sustained increase in the price of oil threatens to ignite inflation and sap growth at the same time. That would leave central banks hamstrung to respond with either rate increases to temper price growth, or rate cuts to stimulate economies. Euribor, a widely-used benchmark for floating-rate credit including SRTs, is trading near a one-year high as traders price out the likelihood of rate cuts in the Eurozone. The iTraxx Crossover index of junk-rated credit default swaps , a gauge of risk aversion, is near the highest in almost nine months, according to data compiled by Bloomberg. A representative for BNP Paribas declined to comment. Read more: SRT Sales Cost Likely to Rise as War Fuels Economic Concerns Banks use SRTs as a way to insure loans against default, typically obtaining protection for between 5% and 15% of the loan value. That allows them to increase their solvency ratios and reduce reliance on less shareholder-friendly options such as issuing new equity. It also increases their leeway for new lending, acquisitions or shareholder payouts. BNP Paribas has discussed an SRT tied to about €1.5 billion of leveraged buyout debt , according to people familiar with the matter said last month. The French bank is also considering another transaction tied to a portfolio of so-called Lombard loans , a type of financing typically extended to high-net-worth clients and backed by liquid assets such as equities or bonds, said the people. BNP Paribas used signific...
imaginima/iStock via Getty Images There are numerous tailwinds that appear poised to benefit infrastructure spending around the world for the next several years. In the US, we often hear about the importance of grid modernization, the growth of AI that is fueling data center expansions, and the need for increased investments in renewable energy. In other parts of the world, infrastructure for tran...
imaginima/iStock via Getty Images There are numerous tailwinds that appear poised to benefit infrastructure spending around the world for the next several years. In the US, we often hear about the importance of grid modernization, the growth of AI that is fueling data center expansions, and the need for increased investments in renewable energy. In other parts of the world, infrastructure for transportation, water, and housing are being driven by urban expansion and increased government spending. A recent report from Bank of New York Mellon ( BK ) also pointed to extreme weather events as a possible cause for infrastructure investments and upgrades. The iShares Global Infrastructure ETF ( IGF ) should sit at the sweet spot for most of these trends. The fund invests in companies that are involved in almost all aspects of infrastructure spending - from communication to electricity to even water and transportation. While there are other ETFs that attempt to do this for domestic equities only, IGF has adopted what its manager calls a "global sector view" to address the needs for expansion on almost every continent. The fund has put together several strong years of returns. Its international exposure boosted its returns in 2025, a year when US equities trailed many of their overseas counterparts. IGF may be worth holding in an investment portfolio that is looking for a conservative way to play many of the trends mentioned here, but other options exist that may be better suited to a more risk-tolerant approach. ETF Overview Managed by Blackrock Fund Advisors , the iShares Global Infrastructure ETF attempts to track the returns of the S&P Global Infrastructure Index. This collection of about 75 stocks is designed to represent three key segments of the infrastructure industry - energy, transportation, and utilities. The fund was opened in December of 2007 and has $10 billion in assets under management. It is rebalanced on a quarterly basis. The top 10 holdings from the fund...
US President Donald Trump threatened Iran with further attacks after the Islamic Republic’s new leader signaled defiance and suggested there would be no easing of a war that’s upending energy flows and global markets. Europe’s Stoxx 600 index slumped putting the benchmark on course for a second week of losses. US futures retreated after the S&P 500 Index slid to its lowest since November. Brent cr...
US President Donald Trump threatened Iran with further attacks after the Islamic Republic’s new leader signaled defiance and suggested there would be no easing of a war that’s upending energy flows and global markets. Europe’s Stoxx 600 index slumped putting the benchmark on course for a second week of losses. US futures retreated after the S&P 500 Index slid to its lowest since November. Brent crude edged higher after rallying over 9% on Thursday. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Lizzy Burden and Tom Mackenzie. (Source: Bloomberg)
Ten Maersk Ships 'Trapped' In Persian Gulf Authored by Stuart Chirls va Freightwaves.com, The closure of the Strait of Hormuz by Iran has effectively trapped 10 Maersk ships in the Persian Gulf, its chief executive said. In separate interviews with CNN and the Wall Street Journal, Vincent Clerc said the Danish carrier’s ships “cannot get out,” are “stuck in the Upper Gulf” and cannot leave the reg...
Ten Maersk Ships 'Trapped' In Persian Gulf Authored by Stuart Chirls va Freightwaves.com, The closure of the Strait of Hormuz by Iran has effectively trapped 10 Maersk ships in the Persian Gulf, its chief executive said. In separate interviews with CNN and the Wall Street Journal, Vincent Clerc said the Danish carrier’s ships “cannot get out,” are “stuck in the Upper Gulf” and cannot leave the region . As a safety measure, Clerc said the vessels have been grouped offshore and away from ports under attack. At least one ship is under contract to the U.S. government’s Military Sealift Command, according to data on maritime identification websites. Even if a ceasefire allowed vessel traffic to begin moving, Clerc said it would take a week to 10 days for the world’s second-largest liner ( MAERSK-B.CO ) to resume normal operations. Clerc’s comments underscore the frustrations of shipping lines who have requested and repeatedly been denied naval escorts by the Trump administration. Carriers have been told in briefings that the Strait is still too dangerous for transit. Iran on Wednesday used unmanned boats to attack two tankers, and also deployed missiles and drones to attack ports, airports and other landside targets in the Gulf region. A ONE container ship sustained damage from unidentified projectiles. Maersk is prioritizing the safety of crews, ships, and customers’ cargo, said Clerc, and will only restart voyages if that safety is guaranteed. Shipping executives gathered in Connecticut for an industry conference said that the Iran war has idled 10,000 merchant crew and hundreds of vessels in the Persian Gulf. Mariners have little choice but to stay with their ships, since most airlines have suspended flights into and out of the area. Maersk, like others major carriers, has suspended or re-routed some services to and from Gulf states and is rerouting vessels via alternate hubs, to stage cargo until the strait is re-opened. It has also assessed shippers with a number of...
Bonjour et Bienvenue to the Paris Edition. I’m Paris Bureau Chief Alan Katz . If you haven’t yet, subscribe now to the Paris Edition newsletter . Private Credit Blues Much of the coffee-break chatter took a slightly nervous, look-over-your-shoulder turn at Bloomberg’s Future of Finance conference in Paris on Thursday as conversation after conversation turned to private credit. The topic had long b...
Bonjour et Bienvenue to the Paris Edition. I’m Paris Bureau Chief Alan Katz . If you haven’t yet, subscribe now to the Paris Edition newsletter . Private Credit Blues Much of the coffee-break chatter took a slightly nervous, look-over-your-shoulder turn at Bloomberg’s Future of Finance conference in Paris on Thursday as conversation after conversation turned to private credit. The topic had long been on the formal agenda. But as Bloomberg’s Laura Noonan noted when she opened her panel, the headline — Are Private Markets Taking Over the World? — had obviously been written before the tumult of the past week. And when I asked one private bank executive what had most interested him among the topics discussed, he said private credit was taking up most of his mind-space and was the main subject at a lunch of chief investment officers he’d attended this week. Although Paris is far from the center of the private credit boom, it isn’t avoiding the blowback. The issue has become such a pervasive worry that France’s central banker made it the main focus of his closing speech at the event, using language that one attendee said harkened back to financial crises of the past. “Debt strategies relying on complex, opaque and increasingly leveraged financing structures, notably in private credit, can also conceal the vulnerabilities of some borrowers,” said Bank of France Governor Francois Villeroy de Galhau. “These vulnerabilities may be amplified by the rising interconnectedness between private markets and other financial institutions,” he added. Comparing current private credit market concerns with past crises is of course a fraught exercise, but the words used by Villeroy show why some people do and why they’re concerned regardless of geography: they don’t really know who is exposed to what. Tikehau Capital private debt head Cécile Mayer-Lévi was perhaps the most evocative in her description of what’s really going on in that market, comparing it to getting stuck at a soirée you w...