The U.S. has no intention of abandoning its deep alliance with Europe and wants the region to succeed, U.S. Secretary of State Marco Rubio said on Saturday. "We care deeply about your future and ours," Rubio told the Munich Security Conference. "We want Europe to be strong. We believe that Europe must survive, because the two great wars of the last century serve, for us, as history's great reminde...
The U.S. has no intention of abandoning its deep alliance with Europe and wants the region to succeed, U.S. Secretary of State Marco Rubio said on Saturday. "We care deeply about your future and ours," Rubio told the Munich Security Conference. "We want Europe to be strong. We believe that Europe must survive, because the two great wars of the last century serve, for us, as history's great reminder, that ultimately, our destiny is, and will always be, intertwined with yours." -- This is a developing story. Check back for updates.
Chinese Foreign Minister Wang Yi on Saturday called for global governance to be reformed amid global turbulence. “We should reform and improve global governance, to set the shift of history of a private course in reforming and improving global governance. The priority is to revitalise the UN system,” he said. “The founding of the UN is an important outcome of the victory of the world anti-fascist ...
Chinese Foreign Minister Wang Yi on Saturday called for global governance to be reformed amid global turbulence. “We should reform and improve global governance, to set the shift of history of a private course in reforming and improving global governance. The priority is to revitalise the UN system,” he said. “The founding of the UN is an important outcome of the victory of the world anti-fascist war.” Wang made the comments during a speech at the Munich Security Conference, which has typically...
Hanizam/iStock via Getty Images Introduction Intrum ( ITJTY ) ( INJJF ) is down 80% the past 5 years, mainly due to its high leverage and the rising interest expenses that put pressure on Intrum's solvency. There have been some improvements and more clarity around their debt issues lately, and Intrum has also seen growth accelerating in Servicing segment, which is a positive. However, there are st...
Hanizam/iStock via Getty Images Introduction Intrum ( ITJTY ) ( INJJF ) is down 80% the past 5 years, mainly due to its high leverage and the rising interest expenses that put pressure on Intrum's solvency. There have been some improvements and more clarity around their debt issues lately, and Intrum has also seen growth accelerating in Servicing segment, which is a positive. However, there are still concerns regarding the debt issue, and that is still priced into the company. In this article I will go through why I believe Intrum is a HOLD, despite positive improvements lately. What has happened? Over the past years, Intrum has had flat growth. To understand that, we have to understand Intrum's business model. Intrum's credit management services, also called CMS or Servicing, collect revenue by servicing and collecting credit on behalf of banks, telecoms, corporations, and other businesses. Servicing is their asset-light business, and Intrum earns revenue from recurring fees from the services they provide. The past couple of years, more companies have had debt and credit challenges due to increasing interest rates and inflation, and this, in theory, would have driven more growth, but that has not been the case. This is due to two main factors: Servicing is a stable business and there is lower investment into NPL portfolios. Servicing has long-term contracts, and fees are stable and recurring. Servicing revenue streams have been stable and have not had a big impact from increasing interest rates. Also, PI investments are down because Intrum has been focusing more on balance sheets and deleveraging. Lower focus on investments has improved cash flows, but it is impacting growth with lower gross collections. Intrum sold parts of its back book back in 2024, and this has driven growth down but improved the balance sheet. This choice was ultimately the right decision, as Intrum struggled with high leverage and interest payments. They changed from short-term growth but wit...
One company hopes it can use big data to reshape the foundation of property development in China. Gone are the days of speculative frenzies. In its place is a climate of risk aversion where developers are desperate for any semblance of certainty. Beihaojia, a new unit of leading real estate transaction platform KE Holdings Inc.-owned Beike, is stepping into this void, offering a data-driven path f...
One company hopes it can use big data to reshape the foundation of property development in China. Gone are the days of speculative frenzies. In its place is a climate of risk aversion where developers are desperate for any semblance of certainty. Beihaojia, a new unit of leading real estate transaction platform KE Holdings Inc.-owned Beike, is stepping into this void, offering a data-driven path forward.
Group C game at Eden Gardens, 9.30am (GMT) start Follow us over on Bluesky | And get in touch: email Tim Morning everyone and Happy Valentine’s! What could be more romantic than England and Scotland, that old pair of exes, bumping into each other in a World Cup? Well, one thing that would be even more romantic is if they were to meet in Kolkata on the very same day that they are also meeting in th...
Group C game at Eden Gardens, 9.30am (GMT) start Follow us over on Bluesky | And get in touch: email Tim Morning everyone and Happy Valentine’s! What could be more romantic than England and Scotland, that old pair of exes, bumping into each other in a World Cup? Well, one thing that would be even more romantic is if they were to meet in Kolkata on the very same day that they are also meeting in the Calcutta Cup. And lo, it is coming to pass. It’s so improbable, it’s practically a rom-com already. For Scotland’s cricketers, who only got their invitation to this party at the last minute, there is, as always, a burning desire to beat the Sassenachs. For the England team, as in all walks of life at all times, there’s a burning desire not to be embarrassed. Continue reading...
Revelations over Peter Mandelson’s links to convicted sex offender Jeffrey Epstein have raised questions about how he became ambassador. Our Analysis Editor Ros Atkins reports.
Revelations over Peter Mandelson’s links to convicted sex offender Jeffrey Epstein have raised questions about how he became ambassador. Our Analysis Editor Ros Atkins reports.
yalcinadali/iStock via Getty Images With risk aversion gathering momentum, deleveraging looms. "US Financial Shares Extend Selloff on Continued AI Concerns." "US Brokerage Shares Slide in Latest Sell-off Driven by New AI Tool." "Wealth Manager Stocks Sink as Investors Flee AI's Next Casualty." "Insurance Broker Stocks Plunge as New App Sparks AI Risk Fears." "AI 'Scare Trade' Hits Real Estate Stoc...
yalcinadali/iStock via Getty Images With risk aversion gathering momentum, deleveraging looms. "US Financial Shares Extend Selloff on Continued AI Concerns." "US Brokerage Shares Slide in Latest Sell-off Driven by New AI Tool." "Wealth Manager Stocks Sink as Investors Flee AI's Next Casualty." "Insurance Broker Stocks Plunge as New App Sparks AI Risk Fears." "AI 'Scare Trade' Hits Real Estate Stocks." "Real Estate Services Stocks Sink in Latest 'AI Scare Trade'." "Tech Rout Intensifies As Angst Over AI Deepens." "Biotech Contractors Extend Slump Amid AI Fears, Weak Earnings." "Logistics Stocks Sink on AI Fear Trade." "AI Panic Hits Trucking, Transport Stocks." "Stocks Have Few Pockets of Calm Amid AI Worries." "Wall Street's New Trade is Dumping Stocks in AI's Crosshairs." February 13 - Bloomberg (Carmen Reinicke): "For three years, AI was the stock market's savior. Suddenly, it's become a marauder, and virtually no corner of the equity market looks safe from its impact. Just in the past 10 days, investors have delivered swift routs to companies toiling in industries as disparate as logistics, real estate, software, private credit, insurance and wealth management. In each case, the release of a new artificial intelligence tool, most famously from Anthropic PBC but also from small, lesser-known startups, prompted a rapid reassessment of business prospects… 'All we have done and seen in the past few weeks is the market torch the perceived AI losers. Obviously the definition of AI losers is changing almost daily to the point where you can't track it via themes or baskets,' said David Wagner, portfolio manager at Aptus Capital Advisors. The one constant is that AI applications have become the market's bogeyman, capable of erasing billions in value in a matter of hours as investors question the very viability of large swaths of the corporate landscape… 'The perception is spreading like a wildfire, and it's spreading horizontally,' Joseph Shaposhnik, portfolio manager at ...