The US military is stationing a vast array of forces in the Middle East, including two aircraft carriers, fighter jets and refueling tankers, with President Donald Trump saying that Iran had 10 to 15 days at most to strike a deal over its nuclear program. Britain recorded the biggest budget surplus on record as a bumper month for the public finances was augmented by a surge in inflows of capital g...
The US military is stationing a vast array of forces in the Middle East, including two aircraft carriers, fighter jets and refueling tankers, with President Donald Trump saying that Iran had 10 to 15 days at most to strike a deal over its nuclear program. Britain recorded the biggest budget surplus on record as a bumper month for the public finances was augmented by a surge in inflows of capital gains tax and lower debt payments. Revenue exceeded spending by £30.4 billion ($41 billion) in January — £15.9 billion more than the gap a year earlier, according to official statistics released Friday. The figure was higher than the £24 billion forecast by economists and the Office for Budget Responsibility. (Source: Bloomberg)
(RTTNews) - Positive sentiment prevails in the German stock market, lifting the DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange more than a quarter percent. Markets cheered the higher-than-expected levels of manufacturi
(RTTNews) - Positive sentiment prevails in the German stock market, lifting the DAX benchmark that tracks the performance of the 40 largest companies listed on the Frankfurt Stock Exchange more than a quarter percent. Markets cheered the higher-than-expected levels of manufacturi
Bonjour et Bienvenue to the Paris Edition. I’m Bloomberg Opinion columnist Lionel Laurent . If you haven’t yet, subscribe now to the Paris Edition newsletter . Reshuffling the Ranks The campaign to succeed Emmanuel Macron in 2027 has yet to begin in earnest. But the establishment drive to effectively Le Pen-proof the machinery of government in case of a far-right win is well underway , as seen in ...
Bonjour et Bienvenue to the Paris Edition. I’m Bloomberg Opinion columnist Lionel Laurent . If you haven’t yet, subscribe now to the Paris Edition newsletter . Reshuffling the Ranks The campaign to succeed Emmanuel Macron in 2027 has yet to begin in earnest. But the establishment drive to effectively Le Pen-proof the machinery of government in case of a far-right win is well underway , as seen in Christine Lagarde’s possible exit from the European Central Bank well ahead of schedule. It would be the latest in a swathe of key powerful civil-service jobs coming up for grabs earlier than planned. Together they have the cumulative effect of battening down the hatches ahead of an election that may put populists atop euro area’s No. 2 economy. Last week, Bank of France Governor Francois Villeroy de Galhau said he was stepping down a year early, an announcement that allows incumbent Macron to choose his successor and prevent a far-right or far-left party scuppering technocratic continuity. Elsewhere, Amelie de Montchalin’s move from budget minister to head of France’s national audit court – a job whose term officially ends in September — has also drawn accusations of being part of an “institutional barricade.” The fact that her new home will be in the position of passing judgment on her own budget record is also not a great look. One could also point to the appointment of a new head at national statistics agency INSEE last year. Outgoing head Jean-Luc Tavernier made a point of underlining the importance of his agency’s institutional independence. Is this accelerated game of musical chairs worth the poor political optics of what looks like a jobs stitch-up? One can argue that there is a real risk of institutional corrosion from political extremes. Few voters are likely to feel cheated over credible or independent statistics; far-right parties might secretly be relieved at having one less corner of the financial market to worry about. But throwing ECB’s Lagarde into the mix ...
Restaurant delivery giant DoorDash (NASDAQ: DASH) missed analyst expectations with its fourth-quarter report on Wednesday, but growth is accelerating. The number of orders rose 32% year over year to 903 million, marketplace gross order value soared 39% to $29.7 billion, and net income jumped 51%. While the core restaurant delivery business is performing well, DoorDash is on the cusp of turning a p...
Restaurant delivery giant DoorDash (NASDAQ: DASH) missed analyst expectations with its fourth-quarter report on Wednesday, but growth is accelerating. The number of orders rose 32% year over year to 903 million, marketplace gross order value soared 39% to $29.7 billion, and net income jumped 51%. While the core restaurant delivery business is performing well, DoorDash is on the cusp of turning a profit in its grocery and retail delivery business. The company has been diversifying into new delivery types, absorbing losses as it gains ground in a highly competitive market. With an inflection point coming, non-restaurant delivery could be a major growth driver for DoorDash in the years ahead. Image source: Getty Images. Continue reading
Hi, this is Charles in Stockholm. Welcome to our weekly newsletter on what’s shaping economies and investments from the Arctic to the Baltic Sea. You can subscribe here . Mood Music While the Danish economy looks strong on paper, Danes are increasingly nervous about the labor market in light of pharmaceutical giant Novo Nordisk’s move to axe 5,000 jobs in the country last year. The layoffs didn’t ...
Hi, this is Charles in Stockholm. Welcome to our weekly newsletter on what’s shaping economies and investments from the Arctic to the Baltic Sea. You can subscribe here . Mood Music While the Danish economy looks strong on paper, Danes are increasingly nervous about the labor market in light of pharmaceutical giant Novo Nordisk’s move to axe 5,000 jobs in the country last year. The layoffs didn’t stop there: Blue-chip firms Lundbeck, Nykredit, Tryg, Nordea Bank followed with cuts of their own, and by the end of the year, Denmark had recorded its highest level of layoffs since the Covid-19 pandemic. To make matters even more nerve wracking, Orsted and Maersk have warned that further cuts are coming. In a small country like Denmark with a population of just six million, the effects of mass layoffs ripple out quickly. Consumer confidence has plummeted, and beyond the headlines, many Danes have a friend, neighbor or family member who has been directly affected, according to Malene Gude, who oversees outplacement services at HR company Randstad. The situation has also drawn renewed attention to the outsized role that flagship companies such as Novo play in Denmark’s economy. “Novo essentially kept the whole market afloat,” Rasmus Meyhoff, a managing partner at recruitment firm Compass, said of the company’s role just one year ago. Even the OECD has weighed in, warning that the Danish economy has become increasingly reliant on a small number of multinationals for jobs, investment and tax revenues. Now, with a general election on the horizon, the government is trying to mitigate the effects of the layoffs by pouring money into municipalities hit hard by the Novo downsizing. Euro Bonding In light of escalating threats from Russia and US President Donald Trump’s aggressive approach to foreign policy, Sweden is once again entertaining the idea of joining the euro. Two academics gently raised the topic this week as part of a presentation to lawmakers about Sweden’s monetary po...
AngloGold Ashanti press release ( AU ): Q4 Non-GAAP EPS of $1.90 misses by $0.04 . Revenue of $3.03B (+76.2% Y/Y) beats by $40M . Outlook: Gold production for the Group is forecast to range between 2.80Moz and 3.17Moz in 2026. Total cash cost per ounce* for the Group is forecast to range between $1,315/oz and $1,430/oz. The midpoint of these range represents an approximate 11% increase (or $130/oz...
AngloGold Ashanti press release ( AU ): Q4 Non-GAAP EPS of $1.90 misses by $0.04 . Revenue of $3.03B (+76.2% Y/Y) beats by $40M . Outlook: Gold production for the Group is forecast to range between 2.80Moz and 3.17Moz in 2026. Total cash cost per ounce* for the Group is forecast to range between $1,315/oz and $1,430/oz. The midpoint of these range represents an approximate 11% increase (or $130/oz) compared to 2025, with approximately 50% of the increase reflecting higher royalty costs and 50% of the increase reflecting cost inflation. AISC per ounce* for the Group is forecast to range between $1,780/oz and $1,990/oz in 2026. More on AngloGold Ashanti AngloGold Ashanti: 'Gold Is The Money Of Kings,' Be A King Still Ascending Is AngloGold Ashanti AngloGold Ashanti Q3 2025 Earnings Preview From Gold to Chips: Large-Cap names with the most days at bullish Quant ratings Seeking Alpha’s Quant Rating on AngloGold Ashanti
HSBC has cut about 10 per cent of its US-based debt capital markets team as part of an ongoing cost-cutting drive and broader restructuring announced in October 2024, according to media reports. At least six staff in New York were laid off on Thursday, Bloomberg reported, citing people familiar with the matter. Those affected included a managing director, two directors, two associates and an analy...
HSBC has cut about 10 per cent of its US-based debt capital markets team as part of an ongoing cost-cutting drive and broader restructuring announced in October 2024, according to media reports. At least six staff in New York were laid off on Thursday, Bloomberg reported, citing people familiar with the matter. Those affected included a managing director, two directors, two associates and an analyst. Europe’s largest lender by assets, and one of Hong Kong’s biggest banks, unveiled a sweeping...
Alfa Gomma SpA ’s chief executive officer has teamed with asset manager ICG Plc to prepare a joint offer for the Italian industrial group that could value it at more than €1 billion ($1.2 billion), according to people familiar with the matter. Enrico Gennasio , who owns a 50% stake in Alfa Gomma, would remain CEO as part of the proposal, said the people, who asked not to be named as the plan isn’t...
Alfa Gomma SpA ’s chief executive officer has teamed with asset manager ICG Plc to prepare a joint offer for the Italian industrial group that could value it at more than €1 billion ($1.2 billion), according to people familiar with the matter. Enrico Gennasio , who owns a 50% stake in Alfa Gomma, would remain CEO as part of the proposal, said the people, who asked not to be named as the plan isn’t public. London-listed ICG would co-invest alongside the CEO as part of a court-supervised process to stabilize governance and secure the firm’s ownership. A strategy dispute between Enrico Gennasio and his brother Guido, who is chairman of Alfa Gomma and also owns 50%, forced a Milanese court to intervene over governance and other issues. In May, the court appointed three liquidators producer of rubber tubes and other components, according to a company filing . ICG has signed an exclusivity agreement with Enrico Gennasio to participate in the competitive process managed by Lazard Inc. , the people said. Non-binding offers are due by Feb. 20, noon local time, under the formal timetable. Representatives for ICG, Lazard and Enrico Gennasio declined to comment. The process has drawn interest from international industrial groups and private equity firms, the people said. In December, newspaper Corriere della Sera reported Michelin had made an offer of €1.2 billion for the group. Il Sole 24 Ore also reported interest from other parties including Sweden’s Trelleborg AB , Denmark’s Danfoss A/S and US firms Parker-Hannifin Corp. and Gates Industrial Corp. Alfa Gomma, based the northern Italian region of Lombardy, counts major firms such as Caterpillar Inc. as customers. It reported revenue of €648 million in 2023 and net profit of €34.2 million, according to its annual financial statements. The potential acquisition would add to ICG’s recent investments in Italy, including DOC Pharma , Nadella and Vision Group, and expand its footprint in the country’s mid-market segment.
Vitaliy_ph/iStock via Getty Images By Carsten Brzeski, Global Head of Macro A comeback for German manufacturing has sparked new momentum in the eurozone economy, brightening the short-term outlook The eurozone PMI increased to 51.9 in February from 51.3 in January. This is the highest level since November last year. While the manufacturing PMI surged to 50.8 from 49.5 in January, the services PMI ...
Vitaliy_ph/iStock via Getty Images By Carsten Brzeski, Global Head of Macro A comeback for German manufacturing has sparked new momentum in the eurozone economy, brightening the short-term outlook The eurozone PMI increased to 51.9 in February from 51.3 in January. This is the highest level since November last year. While the manufacturing PMI surged to 50.8 from 49.5 in January, the services PMI improved only marginally to 51.8 from 51.6. Looking at the larger eurozone countries, the silent rebound of the German economy occurring under the surface continues, with the PMI composite reaching a four-month high and the PMI manufacturing crossing the magic 50-threshold for the first time in almost four years. As business sentiment in France basically stagnated, it indeed looks as if the two largest eurozone economies could swap their roles for eurozone growth, with Germany becoming a growth driver and France, in turn, proving a drag on eurozone growth. And as the economic rebound in the eurozone appears to gain momentum, inflation – at least as measured in the PMI surveys – is also on the rise again. Both input costs and selling prices were raised in February, with a faster rise in manufacturing selling prices than in services. Overall, at the end of a week that was dominated by the aftermath of last week’s informal European summit and this week’s rumours of a possible early exit for Christine Lagarde from the ECB, this morning’s PMI readings bring back some economic normality. And it’s a pleasant reality. We've previously discussed the German ketchup bottle effect; it now finally seems to be happening. Driven by a rebound in German manufacturing, the eurozone economy is gaining momentum, leaving the geopolitical tensions of the past behind – at least for now. Content Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not consti...
Nvidia is reportedly close to agreeing a $30 billion investment into ChatGPT-developer OpenAI. Nvidia shares were up 0.4% to $186.66 in premarket trading Friday. The stock has risen 2.8% over the past five trading sessions.
Nvidia is reportedly close to agreeing a $30 billion investment into ChatGPT-developer OpenAI. Nvidia shares were up 0.4% to $186.66 in premarket trading Friday. The stock has risen 2.8% over the past five trading sessions.