Weak and sick mammal has twice become stuck on a sandbank, with news of the rescue efforts captivating the German public The fate of a humpback whale stranded in shallow bays off Germany ’s Baltic coast hangs in the balance after several rescue attempts. The roughly 10-metre-long (33ft) mammal appeared weakened and sick on Sunday and was struggling to find a route back to the Atlantic. Continue re...
Weak and sick mammal has twice become stuck on a sandbank, with news of the rescue efforts captivating the German public The fate of a humpback whale stranded in shallow bays off Germany ’s Baltic coast hangs in the balance after several rescue attempts. The roughly 10-metre-long (33ft) mammal appeared weakened and sick on Sunday and was struggling to find a route back to the Atlantic. Continue reading...
Lyric Hammersmith, London Jocelyn Bioh’s comedy – following a day in the life of a Harlem braiding salon – is filled with humour and hijinks ‘Don’t touch my hair” is a racially-charged statement of Black femininity, encapsulating the personal as political. Hair is political here too, though there is plenty of consenting touching in Jocelyn Bioh’s comedy following a day in the life of a Harlem brai...
Lyric Hammersmith, London Jocelyn Bioh’s comedy – following a day in the life of a Harlem braiding salon – is filled with humour and hijinks ‘Don’t touch my hair” is a racially-charged statement of Black femininity, encapsulating the personal as political. Hair is political here too, though there is plenty of consenting touching in Jocelyn Bioh’s comedy following a day in the life of a Harlem braiding salon. Bioh’s follow-up to School Girls; Or, The African Mean Girls Play , is again directed by Monique Touko and has dazzled audiences on Broadway. You can see why: it contains such abundant charm, humour and insuppressible, crowd-pleasing energy that it is hard to be anything but seduced by its radiating warmth. Continue reading...
For the first time in over 50 years, NASA is preparing to send astronauts back to the moon. Bloomberg Technology Co-host Ed Ludlow joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss NASA’s long-awaited Artemis II moon mission scheduled for Wednesday night. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morn...
For the first time in over 50 years, NASA is preparing to send astronauts back to the moon. Bloomberg Technology Co-host Ed Ludlow joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss NASA’s long-awaited Artemis II moon mission scheduled for Wednesday night. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
espiegle/iStock via Getty Images Newmont Corporation ( NEM ) is the world's largest gold miner with multi-metal assets including copper, silver, zinc, and lead. It often suffers from comparisons with (relatively) leaner and meaner operations like Agnico and criticised for being inefficient - with increasing costs, riskier multi-jurisdictional assets, and low returns per share over the last couple ...
espiegle/iStock via Getty Images Newmont Corporation ( NEM ) is the world's largest gold miner with multi-metal assets including copper, silver, zinc, and lead. It often suffers from comparisons with (relatively) leaner and meaner operations like Agnico and criticised for being inefficient - with increasing costs, riskier multi-jurisdictional assets, and low returns per share over the last couple of decades. While there is merit to this criticism, it overlooks the fact that an existing behemoth's playbook is necessarily different, and often singularly unique, from that of a player from a newer generation, like Agnico. Further, it looks like Newmont is wrapping up a nearly two-decade period of spending and dilution and is ready to start generating value - which is good news for investors who have been waiting a long time to see growth in this stock. NEM's empire-building years, and their cost Newmont's main rivals in the gold mining business are Agnico, Barrick, and AngloGold. At 5.3 million ounces, NEM's gold production guidance for 2026 far exceeds its rivals, who are expected to produce roughly between 3-3.5 million ounces. However, it has the least profitable operating margin of the lot at ~29%. By comparison, Agnico, famous for its efficiency, has a margin of ~49%, while the other two are between 25% and 30%. Meanwhile, the total shareholder return (TSR i.e., growth and re-invested dividend ) over 10 years is calculated in the table below: Asset/Company 10-Year Total Return CAGR Agnico Eagle ( AEM ) +442% ~18.4% Spot Gold ( USD ) +260% ~13.7% Newmont +258% ~13.6% S&P 500 (Total Return) +285% ~14.4% AngloGold Ashanti ( AU ) +232% ~12.7% Barrick Gold ( GOLD ) +188% ~11.2% Click to enlarge Most of the usual criticism of NEM is aimed at the lacklustre TSR and low profit margins. As a separate point, we can also add the jurisdictional risk of nearly half of its revenue generation being from non-Tier 1 jurisdictions like Papua New Guinea (PNG), Ghana, and Mexico. Firs...
gorodenkoff/iStock via Getty Images Market Brief - A Tough Market Week This past week was another disappointing one. Markets opened the week surging after President Trump posted on Truth Social that U.S.-Iran talks had been “very good and productive” and that he was halting strikes on Iranian power plants. Brent crude fell more than 10% in a single session, its biggest single-day drop since early ...
gorodenkoff/iStock via Getty Images Market Brief - A Tough Market Week This past week was another disappointing one. Markets opened the week surging after President Trump posted on Truth Social that U.S.-Iran talks had been “very good and productive” and that he was halting strikes on Iranian power plants. Brent crude fell more than 10% in a single session, its biggest single-day drop since early March, while the S&P 500 ( SPX ) gained 1.15%. It was the kind of relief rally that tempts investors into believing a corner has been turned. It wasn’t. By Wednesday, Iran had rejected the U.S. ceasefire proposal as “one-sided and unfair.” Oil reversed and climbed higher. Then, Thursday delivered the gut punch with the S&P 500 falling 1.7%, its worst single-session decline since the war began. With that, the market failed to hold the 200-day moving average on the retest. Investors hit the “sell” button across asset classes in a rush for liquidity. It was a tough week all around. The macro backdrop darkened further. Futures markets pushed the probability of a Fed rate hike by year-end to 52%, which is the first time it has crossed the 50% threshold, as Brent topped $110 and inflation fears intensified. The OECD also sharply revised its 2026 U.S. inflation forecast to 4.2%, up from the Fed’s 2.7% projection. Consumer sentiment reflected the pain, with the University of Michigan’s final March reading falling to 53.3. Year-ahead inflation expectations also stalled at 3.4% after six consecutive months of declines, driven almost entirely by the post-conflict gasoline shock. Outside of Iran, the news didn’t get much better. The ongoing private credit deterioration, the subject of today’s commentary, continued. Apollo Global Management ( APO ) capped redemptions on its $25 billion Apollo Debt Solutions BDC after withdrawal requests reached 11.2% of shares, more than double its 5% quarterly limit, and paid investors roughly 45 cents on the dollar for deferred requests. Ares Capital ...
Bloomberg News White House Correspondent Jeff Mason reports from the CPAC conference held at the Gaylord Hotel in Texas. He joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to explain how, despite strong support for President Trump, attendees expressed unease. (Source: Bloomberg)
Bloomberg News White House Correspondent Jeff Mason reports from the CPAC conference held at the Gaylord Hotel in Texas. He joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to explain how, despite strong support for President Trump, attendees expressed unease. (Source: Bloomberg)
Croat failed to win a league match as interim head coach Had been away from post following death of father Tottenham have parted company with Igor Tudor after seven games and 44 days in a desperate attempt to halt their slide towards relegation from the Premier League. According to the club, the decision was mutually agreed. Tudor took one point from his five league matches to leave Tottenham one ...
Croat failed to win a league match as interim head coach Had been away from post following death of father Tottenham have parted company with Igor Tudor after seven games and 44 days in a desperate attempt to halt their slide towards relegation from the Premier League. According to the club, the decision was mutually agreed. Tudor took one point from his five league matches to leave Tottenham one above the bottom three, the final straw coming in Sunday’s 3-0 home defeat by Nottingham Forest . A previously unthinkable demotion to the Championship would be devastating for prestige and revenues. Continue reading...
tupungato/iStock Editorial via Getty Images Introduction Beiersdorf ( BDRFF ) ( BDRFY ) is one of the world’s consumer goods companies with some iconic brands in its portfolio that is geared towards protecting and expanding its position in the skin care industry. The brand names NIVEA, Hansaplast, and Eucerin enjoy worldwide brand recognition and are the cornerstone brands in Beiersdorf’s portfoli...
tupungato/iStock Editorial via Getty Images Introduction Beiersdorf ( BDRFF ) ( BDRFY ) is one of the world’s consumer goods companies with some iconic brands in its portfolio that is geared towards protecting and expanding its position in the skin care industry. The brand names NIVEA, Hansaplast, and Eucerin enjoy worldwide brand recognition and are the cornerstone brands in Beiersdorf’s portfolio. Meanwhile, the Tesa tape brand enjoys a good reputation in the business segment. In order to maintain its position in its core markets, Beiersdorf has to continue to invest in R&D, which is one of the main expenses that are not directly related to SG&A or the actual COGS. These continued R&D efforts will allow Beiersdorf to launch new products this year. Yahoo Finance Beiersdorf has its primary listing in Germany, where it is trading on Deutsche Boerse with BEI as its ticker symbol . The average daily volume in Germany is approximately half a million shares per day. Beiersdorf’s current market capitalization after the share price drop is approximately 16.1B EUR. I will use the Euro as base currency throughout this article. Looking back at the 2025 results Beiersdorf reported a pretty flat revenue in 2025, at 9.85B EUR . Unfortunately, the COGS increased by approximately 2% to 4.17B EUR, resulting in a 1.5% decrease in the gross profit. As the income statement below shows, the marketing and selling expenses remain a very important cost. Fortunately, Beiersdorf was able to slightly reduce those expenses, and as you can see below, it was successful in keeping all of its operating expenses under control. Beiersdorf Investor Relations That helped to record a 2% EBIT increase, although that was mainly caused by a substantially lower ‘other operating expense,’ which decreased from exceeding half a billion Euro in the preceding year. As you can see below, a substantial portion of the other operating expenses are related to FX expenses (but this is compensated by a FX gain in the...
Bloomberg News Senior Editor Chris Anstey joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss what the 'secret sauce' that's missing in the AI revolution. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)
Bloomberg News Senior Editor Chris Anstey joins David Gura and Christina Ruffini this morning on Bloomberg This Weekend to discuss what the 'secret sauce' that's missing in the AI revolution. Watch the full interview on Bloomberg This Weekend and watch the show LIVE every Saturday and Sunday morning. (Source: Bloomberg)