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  • Chinese Electronics Firm Misses Repayment of Local Bonds

    Chinese Electronics Firm Misses Repayment of Local Bonds(Bloomberg) -- A Chinese maker of electronic display panels has missed payment on two of its yuan bonds, a sign that the nation’s private firms continue to face a funding crunch amid an economic slowdown.Tunghsu Optoelectronic Technology Co., a Shenzhen-listed unit of Tunghsu Group Co. said in a stock exchange announcement on Monday that it failed to repay 1.97 billion yuan ($280 million) principal and interest on a note due to tight liquidity, after its bondholders exercised a put option. It also missed interest payment on another bond.A Tunghsu Group official as well as an underwriter of the overdue bond said the company is talks with bondholders to extend the repayment deadline by six months. The company official also said the firm was looking to extend the coupon repayment deadline on a separate bond by a period longer than six months.Bondholders haven’t reached an agreement on the deadline extensions yet, according to the company official and bond underwriter.Private Sector ProblemsThe missed payments underscore rising credit risks among Chinese private sector firms, which form the majority of the country’s bond defaulters. Onshore defaults in China excluding Tunghsu were at 110 billion yuan, close to last year’s full-year record of 122 billion yuan, according to data compiled by Bloomberg.Tunghsu Group’s parent Dongxu Optoelectronic Investment Co. is now planning to sell its 51.46% stake in the company to State-owned Assets Supervision and Administration of Shijiazhuang Municipal Government, according to a statement on the Shenzhen stock exchange. Trading in the shares of Tunghsu Group’s two listed units were halted on Tuesday.The stake transfer is “highly uncertain” and could constitute a change of control under the group’s guaranteed U.S. dollar notes, S&P Global Ratings said in a note on Tuesday as it downgraded Tunghsu Group’s credit rating to CCC- from B-.It cited the company’s deteriorating liquidity profile and increasing refinancing pressure for the rating cut. “We believe a default or distressed exchange is highly likely within the next six months, absent significantly favorable changes in Tunghsu’s circumstances,” S&P said.Tunghsu Group’s dollar bond due 2020 was indicated at around 44 cents on the dollar on Tuesday. Its offering memorandum states that a cross-default will be triggered on the note if the firm’s parent guarantor or any restricted subsidiary fails to repay principal amount of $10 million or more when due.Tunghsu Group had 50.9 billion yuan cash and cash equivalent assets as of the end of June, and a total liability of 129.1 billion yuan, according to its interim financial results.(Adds S&P comments and rating change in 7th and 8th paragraphs, updated dollar bond price in penultimate paragraph)\--With assistance from April Ma.To contact Bloomberg News staff for this story: Tongjian Dong in Shanghai at tdong28@bloomberg.net;Ina Zhou in Hong Kong at hzhou179@bloomberg.net;Yuling Yang in Beijing at yyang329@bloomberg.netTo contact the editors responsible for this story: Neha D'silva at ndsilva1@bloomberg.net, Chan Tien HinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • Taiwan president says China interfering in election 'every day'

    Taiwan president says China interfering in election 'every day'China is interfering in Taiwan's elections "every day" as it seeks to damage the island's democracy, Taiwan President Tsai Ing-wen said on Tuesday, after China sailed an aircraft carrier group near the self-ruled island on the weekend. The election campaign, which is also for Taiwan's legislature, has kicked into high gear, and is being closely watched by Taiwan's giant neighbour China, which claims Taiwan as sacred Chinese territory, to be brought under its control by force if needed.


  • What Kind Of Shareholder Appears On The SKF India Limited's (NSE:SKFINDIA) Shareholder Register?

    What Kind Of Shareholder Appears On The SKF India Limited's (NSE:SKFINDIA) Shareholder Register?If you want to know who really controls SKF India Limited (NSE:SKFINDIA), then you'll have to look at the makeup of...


  • Should You Be Concerned About Siyaram Silk Mills Limited's (NSE:SIYSIL) Earnings Growth?

    Should You Be Concerned About Siyaram Silk Mills Limited's (NSE:SIYSIL) Earnings Growth?After looking at Siyaram Silk Mills Limited's (NSEI:SIYSIL) latest earnings announcement (30 September 2019), I found...


  • Evaluating Security and Intelligence Services (India) Limited’s (NSE:SIS) Investments In Its Business

    Evaluating Security and Intelligence Services (India) Limited’s (NSE:SIS) Investments In Its BusinessToday we'll evaluate Security and Intelligence Services (India) Limited (NSE:SIS) to determine whether it could have...


  • Tata Steel to Cut 3,000 Jobs as Crisis Rips Through Europe

    Tata Steel to Cut 3,000 Jobs as Crisis Rips Through Europe(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tata Steel Ltd. plans to cut as many as 3,000 jobs across its European operations to cut costs in the latest blow to the region’s industry, with the move coming amid a heated general election campaign in the U.K.About two-thirds of the reductions would be office-based staff, the company said in a statement. While the steelmaker didn’t give a detailed breakdown, Tata Steel Works Council said more than half of the planned cuts would be in the Netherlands. The company also has facilities in the U.K.“Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts, which have turned the European market into a dumping ground for the world’s excess steel capacity,” Mumbai-based Tata Steel said.The European steel industry has faced growing headwinds this year amid declining demand, slowing economic growth and the consistent threat of overseas supplies, including exports from Turkey, Russia and China. British Steel Ltd., the U.K.’s No. 2 steelmaker was put into liquidation in May, and has been taken over China’s Jingye Group Co. Apparent demand in the European Union will contract 3.1% this year, lobby group Eurofer warned last month.The steelmaker’s European operations are facing conditions that are “unprecedented,” said Henrik Adam, chief executive officer of Tata Steel in Europe. Other steps to improve performance include boosting sales of higher-value steels, aiding efficiency and cutting procurement costs.The company plans to cut 1,650 jobs in the Netherlands, said Frits van Wieringen, chairman of both the European and Netherlands’ Tata Steel Works Council. He expects the move to lead to a conflict after an accord last year that no jobs would be cut until 2021.Tata Steel fell 1.3% in Mumbai trading, taking this year’s decline to 22%.General ElectionVoters in the U.K. go to the polls next month in a rare winter general election, and Tata Steel’s move is likely to feature as an issue in the showdown, which has been dominated by the Brexit crisis. In the contest, Conservative Prime Minister Boris Johnson is squaring off against Labour leader Jeremy Corbyn.Tata Steel, which bought Corus Group Plc for about $13 billion in 2007, has been closing and selling plants in the U.K. since the 2008 financial crisis to make the business more profitable. The company is focusing on growing in India, where Chairman N. Chandrasekaran aims to ramp up capacity as the nation’s demand is set to expand as much as 7% in the coming years.Tata Steel Europe’s Ebitda sank 90% to 31 million pounds ($40 million) in the first six months of the current financial year from April on revenue of 3.25 billion pounds, according to the statement. The job cuts and other moves target positive cash flow by the end of the year to March 2021.‘Difficult Market’“Europe remains a difficult market but this is how they can deal with the challenges there,” Amit A. Dixit, an analyst at Edelweiss Financial Services Ltd., said from Mumbai, citing problems also faced by peers including ArcelorMittal. “The market will likely react to this proposal in a hugely positive way.”Earlier, Tata Steel had tried to address its position in Europe through a proposed venture with German rival Thyssenkrupp AG. But that initiative was blocked by the EU’s antitrust officials, who said allowing the deal would have reduced the number of suppliers and increased prices.In a measure of the challenge facing local mills, steel production in the EU slumped in August to the lowest since the financial crisis amid a record jump in imports. The bloc’s output dropped to 11.45 million tons that month, according to World Steel Association data. That’s the lowest level since 2009.ArcelorMittal, the world’s top steelmaker, said this month that European steel consumption will drop by up to 3% this year, the most since 2012. Austrian steelmaker Voestalpine AG has also been lowering its profit outlook as the industry downturn spreads.(Updates with details on job cuts in the Netherlands in second and sixth paragraphs)\--With assistance from Ellen Proper and Elena Mazneva.To contact the reporters on this story: Swansy Afonso in Mumbai at safonso2@bloomberg.net;Ronojoy Mazumdar in Mumbai at rmazumdar7@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • Tata Steel to Cut 3,000 Jobs as Crisis Rips Through Europe

    Tata Steel to Cut 3,000 Jobs as Crisis Rips Through Europe(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Tata Steel Ltd. plans to cut as many as 3,000 jobs across its European operations to cut costs in the latest blow to the region’s industry, with the move coming amid a heated general election campaign in the U.K.About two-thirds of the reductions would be office-based staff, the company said in a statement. While the steelmaker didn’t give a detailed breakdown, Tata Steel Works Council said more than half of the planned cuts would be in the Netherlands. The company also has facilities in the U.K.“Stagnant EU steel demand and global overcapacity have been compounded by trade conflicts, which have turned the European market into a dumping ground for the world’s excess steel capacity,” Mumbai-based Tata Steel said.The European steel industry has faced growing headwinds this year amid declining demand, slowing economic growth and the consistent threat of overseas supplies, including exports from Turkey, Russia and China. British Steel Ltd., the U.K.’s No. 2 steelmaker was put into liquidation in May, and has been taken over China’s Jingye Group Co. Apparent demand in the European Union will contract 3.1% this year, lobby group Eurofer warned last month.The steelmaker’s European operations are facing conditions that are “unprecedented,” said Henrik Adam, chief executive officer of Tata Steel in Europe. Other steps to improve performance include boosting sales of higher-value steels, aiding efficiency and cutting procurement costs.The company plans to cut 1,650 jobs in the Netherlands, said Frits van Wieringen, chairman of both the European and Netherlands’ Tata Steel Works Council. He expects the move to lead to a conflict after an accord last year that no jobs would be cut until 2021.Tata Steel fell 1.3% in Mumbai trading, taking this year’s decline to 22%.General ElectionVoters in the U.K. go to the polls next month in a rare winter general election, and Tata Steel’s move is likely to feature as an issue in the showdown, which has been dominated by the Brexit crisis. In the contest, Conservative Prime Minister Boris Johnson is squaring off against Labour leader Jeremy Corbyn.Tata Steel, which bought Corus Group Plc for about $13 billion in 2007, has been closing and selling plants in the U.K. since the 2008 financial crisis to make the business more profitable. The company is focusing on growing in India, where Chairman N. Chandrasekaran aims to ramp up capacity as the nation’s demand is set to expand as much as 7% in the coming years.Tata Steel Europe’s Ebitda sank 90% to 31 million pounds ($40 million) in the first six months of the current financial year from April on revenue of 3.25 billion pounds, according to the statement. The job cuts and other moves target positive cash flow by the end of the year to March 2021.‘Difficult Market’“Europe remains a difficult market but this is how they can deal with the challenges there,” Amit A. Dixit, an analyst at Edelweiss Financial Services Ltd., said from Mumbai, citing problems also faced by peers including ArcelorMittal. “The market will likely react to this proposal in a hugely positive way.”Earlier, Tata Steel had tried to address its position in Europe through a proposed venture with German rival Thyssenkrupp AG. But that initiative was blocked by the EU’s antitrust officials, who said allowing the deal would have reduced the number of suppliers and increased prices.In a measure of the challenge facing local mills, steel production in the EU slumped in August to the lowest since the financial crisis amid a record jump in imports. The bloc’s output dropped to 11.45 million tons that month, according to World Steel Association data. That’s the lowest level since 2009.ArcelorMittal, the world’s top steelmaker, said this month that European steel consumption will drop by up to 3% this year, the most since 2012. Austrian steelmaker Voestalpine AG has also been lowering its profit outlook as the industry downturn spreads.(Updates with details on job cuts in the Netherlands in second and sixth paragraphs)\--With assistance from Ellen Proper and Elena Mazneva.To contact the reporters on this story: Swansy Afonso in Mumbai at safonso2@bloomberg.net;Ronojoy Mazumdar in Mumbai at rmazumdar7@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • Stocks Climb With U.S. Futures; Treasuries Steady: Markets Wrap

    Stocks Climb With U.S. Futures; Treasuries Steady: Markets Wrap(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Stocks in Europe rose with U.S. futures after a mixed session in Asia as investors kept an eye out for signs of progress in America-China trade negotiations. Treasuries steadied alongside the dollar.Automaker shares led the Stoxx Europe 600 Index higher, boosted by data showing the region’s car sales jumped in October. Contracts on the S&P 500 Index rose, signaling the underlying gauge will head toward a fifth record on Tuesday. In Asia, equities fell in Tokyo and climbed in Shanghai. Hong Kong’s Hang Seng benchmark increased despite continuing unrest in the city, further recouping some of last week’s 4.8% drop. Government bonds in Europe were mixed, while the pound held gains from Monday. Oil futures slipped for a second day.Markets around the world are in a holding pattern, sensitive to any developments on trade after months of closely watched negotiations. Word that the White House would extend a license to allow U.S. companies to do business with Chinese telecom firm Huawei competed with reports suggesting Beijing was skeptical about reaching a broad deal anytime soon. One challenge for stocks comes from the MSCI World Index’s 21% advance this year, which has propelled the benchmark to its highest estimated price-earnings ratio since 2017.“We don’t think that there is much scope for global equities to receive a further boost from a trade deal along the lines of what is being reported,” Simona Gambarini, a markets economist at Capital Economics, wrote in a note.The dollar fluctuated a day after news that Federal Reserve Chairman Jerome Powell met with President Donald Trump at the White House. Trump tweeted that topics discussed included dollar strength and negative interest rates. The Fed said Powell’s remarks were “consistent” with his recent public comments.Here are some key events coming up this week:U.S. economic indicators due for release include housing starts Tuesday and initial jobless claims on Thursday.Britain holds its first televised leadership debate before next month’s election Tuesday.Federal Reserve speakers this week include district bank presidents John Williams, Loretta Mester and Neel Kashkari.European central bankers speaking this week include European Central Bank President Christine Lagarde, Bundesbank chief Jens Weidmann, along with Yves Mersch, Luis de Guindos, Pablo Hernandez de Cos and Philip Lane.China announces its loan prime rates, a benchmark for borrowing costs, on Wednesday.These are the main moves in markets:StocksThe Stoxx Europe 600 Index jumped 0.5% as of 9:24 a.m. London time.Futures on the S&P 500 Index advanced 0.2%.Italy’s FTSE MIB Index rose 0.8%.Hong Kong’s Hang Seng Index jumped 1.5%.CurrenciesThe Bloomberg Dollar Spot Index was little changed.Sterling increased 0.1% to 0.8544 per euro.The Japanese yen declined 0.1% to 108.78 per dollar.BondsThe yield on 10-year Treasuries climbed one basis point to 1.82%.Germany’s 10-year yield increased one basis point to -0.33%.Italy’s 10-year yield fell one basis point to 1.202%.Australia’s 10-year yield declined four basis points to 1.1325%.CommoditiesWest Texas Intermediate crude fell 0.2% to $56.96 a barrel.LME nickel dipped 1.8% to $14,575 per metric ton.Gold decreased 0.3% to $1,467.47 an ounce.Iron ore increased 1% to $84.15 per metric ton.\--With assistance from Andreea Papuc and Michael Msika.To contact the reporter on this story: Todd White in Madrid at twhite2@bloomberg.netTo contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Yakob PeterseilFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • US extends license for businesses to work with Huawei by 90 days

    US extends license for businesses to work with Huawei by 90 daysThe United States on Monday granted another 90 days for companies to cease doing business with China's telecoms giant Huawei, saying the move would allow service providers to continue to offer coverage in rural areas. President Donald Trump in May effectively barred Huawei from American communications networks after Washington found the company had violated US sanctions on Iran and attempted to block a subsequent investigation. Huawei said Monday the decision did nothing to alter the company's view that Washington has treated it unfairly and called on the Trump administration to remove Huawei from a foreign technology blacklist.


  • Imagine Owning NFON (ETR:NFN) And Wondering If The 16% Share Price Slide Is Justified

    Imagine Owning NFON (ETR:NFN) And Wondering If The 16% Share Price Slide Is JustifiedIt's easy to match the overall market return by buying an index fund. But if you buy individual stocks, you can do...


  • Is JD Sports Fashion plc (LON:JD.) Worth UK£7.7 Based On Its Intrinsic Value?

    Is JD Sports Fashion plc (LON:JD.) Worth UK£7.7 Based On Its Intrinsic Value?In this article we are going to estimate the intrinsic value of JD Sports Fashion plc (LON:JD.) by taking the foreast...


  • Does The Groupe CIOA (EPA:MLCIO) Share Price Tend To Follow The Market?

    Does The Groupe CIOA (EPA:MLCIO) Share Price Tend To Follow The Market?If you're interested in Groupe CIOA (EPA:MLCIO), then you might want to consider its beta (a measure of share price...


  • Why Silver Touch Technologies Limited's (NSE:SILVERTUC) High P/E Ratio Isn't Necessarily A Bad Thing

    Why Silver Touch Technologies Limited's (NSE:SILVERTUC) High P/E Ratio Isn't Necessarily A Bad ThingThe goal of this article is to teach you how to use price to earnings ratios (P/E ratios). We'll apply a basic P/E...


  • How Should Investors React To Poxel SA's (EPA:POXEL) CEO Pay?

    How Should Investors React To Poxel SA's (EPA:POXEL) CEO Pay?The CEO of Poxel SA (EPA:POXEL) is Thomas Kuhn. First, this article will compare CEO compensation with compensation at...


  • Is Sampo Oyj's (HEL:SAMPO) 10% ROE Better Than Average?

    Is Sampo Oyj's (HEL:SAMPO) 10% ROE Better Than Average?While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...


  • Dollar Roadblock From Fed’s Balance Sheet Sets Up Euro Rally

    Dollar Roadblock From Fed’s Balance Sheet Sets Up Euro Rally(Bloomberg) -- It doesn’t look good for the dollar. Morgan Stanley sees a glut looming, while Standard Chartered Plc says the growing U.S. monetary base will undercut the greenback.There’s a rising tide of supply as the Federal Reserve pumps dollars into bank-funding markets in the wake of September’s upheaval. That has the potential to dent the yield advantage that U.S. markets offer just as a change of management at the European Central Bank could draw a line under monetary easing in the euro’s home region.“So far, the Fed’s liquidity-add has been absorbed by commercial banks’ year-end-related liquidity demand,” say Morgan Stanley strategists including Hans Redeker. “Once the year-end turn has passed, dollar scarcity may turn into a dollar glut.”That, coupled with stronger global growth outside of the U.S. and dwindling portfolio inflows, makes a decline in the value of the dollar one of Morgan Stanley’s top trends to watch next year. While the world’s gross domestic product growth may slow to 3.1% this year, that’s around a percentage point higher than the U.S., according to estimates compiled by Bloomberg.Research from Standard Chartered analysts including Steve Englander shows that since 2011, a rapidly growing U.S. monetary base has been a good indicator of euro strength.Meanwhile, the uncertainty posed by a public impeachment inquiry into U.S. President Donald Trump’s actions involving Ukraine and the 2020 American elections could hurt the dollar’s appeal, which may dim relative to the euro. The White House’s criticism of the Fed’s monetary policy returned to the fore in Washington, when Trump said he “protested” to Chairman Jerome Powell about interest rates, which the president considers to be too high relative to other developed countries. The shared currency held steady at $1.1070 Tuesday, after Monday’s gain of 0.2% trimmed its 2019 decline to 3.5%.Credit Agricole SA says the worst may be over for the euro-dollar cross because the economic downturn in the euro area may have bottomed out. Morgan Stanley sees the euro rallying in the first quarter because of “narrowing U.S.-Europe growth differentials” and improving political factors, while Deutsche Bank AG’s euro-area data-surprise indicator turned positive for the first time in 20 months.That makes euro-area purchasing managers’ indexes due Friday all the more important. A confirmation that the region’s economies aren’t as pressured as previously feared could boost the common currency.The caveat that most analysts point to is potential progress in trade talks between the U.S. and China. If there’s no deal, and more tariffs are imposed, then the dollar could win out and risks to global economic growth may ramp up.Questions over possible fiscal stimulus from Germany and uncertainty over the ECB’s path are also wild cards for the euro. Growth that continues to muddle along risks keeping calls for a fiscal boost in check and ECB accommodation in limbo, sapping support for the currency.“With the ECB racked by internal disagreement on monetary policy as the Christine Lagarde era commences, policy in the euro zone is as stalled and unclear as ever,” according to John Velis, a foreign exchange and macro strategist at Bank of New York Mellon Corp.(Adds detail on Trump’s meeting with Powell in sixth paragraph, updates euro price)\--With assistance from Alyce Andres.To contact the reporter on this story: Michael Hunter in London at mhunter72@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Benjamin Purvis, Anil VarmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • Israel intercepts rocket fire from Syria, reportedly hits back

    Israel intercepts rocket fire from Syria, reportedly hits backIsrael's air defences intercepted four rockets fired from neighbouring Syria on Tuesday, the army said, prompting reported retaliatory missile strikes against the source of the fire. The Syrian Observatory for Human Rights said the rockets were fired from positions around the capital held by groups loyal to the Damascus government. It did not elaborate on which group had launched the rockets or whether there had been any casualties in the retaliatory strikes.


  • Do Insiders Own Lots Of Shares In Gfinity plc (LON:GFIN)?

    Do Insiders Own Lots Of Shares In Gfinity plc (LON:GFIN)?A look at the shareholders of Gfinity plc (LON:GFIN) can tell us which group is most powerful. Institutions will often...


  • A 10-point plan to reboot the data industrial complex for the common good

    A 10-point plan to reboot the data industrial complex for the common goodA posthumous manifesto by Giovanni Buttarelli, who until his death this summer was Europe's chief data protection regulator, seeks to join the dots of surveillance capitalism's rapacious colonization of human spaces, via increasingly pervasive and intrusive mapping and modelling of our data, with the existential threat posed to life on earth by manmade climate change. In a dense document rich with insights and ideas around the notion that "data means power" -- and therefore that the unequally distributed data-capture capabilities currently enjoyed by a handful of tech platforms sums to power asymmetries and drastic social inequalities -- Buttarelli argues there is potential for AI and machine learning to "help monitor degradation and pollution, reduce waste and develop new low-carbon materials".


  • Calculating The Intrinsic Value Of Maps S.p.A. (BIT:MAPS)

    Calculating The Intrinsic Value Of Maps S.p.A. (BIT:MAPS)Does the November share price for Maps S.p.A. (BIT:MAPS) reflect what it's really worth? Today, we will estimate the...


  • What Kind Of Shareholders Own Public Joint Stock Company Gazprom (MCX:GAZP)?

    What Kind Of Shareholders Own Public Joint Stock Company Gazprom (MCX:GAZP)?If you want to know who really controls Public Joint Stock Company Gazprom (MCX:GAZP), then you'll have to look at the...


  • Popeyes signs first lease for China market as it seeks to take on KFC

    Popeyes signs first lease for China market as it seeks to take on KFCU.S. fried chicken chain Popeyes wants to become the top chicken brand in China, the chief executive of its parent company said on Tuesday, as it prepares to take on KFC, the no.1 player in the world's most populous market. Popeyes signed a lease in Shanghai for its first store in China on Monday, which is slated to open next year. The company outlined plans in July to build 1,500 restaurants in China in the coming decade, becoming the last of Toronto-based Restaurant Brands International Inc's main brands to enter the country.


  • PJSC Russian Aquaculture (MCX:AQUA) Delivered A Better ROE Than Its Industry

    PJSC Russian Aquaculture (MCX:AQUA) Delivered A Better ROE Than Its IndustryMany investors are still learning about the various metrics that can be useful when analysing a stock. This article is...


  • Is Peach Property Group AG's (VTX:PEAN) CEO Paid Enough Relative To Peers?

    Is Peach Property Group AG's (VTX:PEAN) CEO Paid Enough Relative To Peers?Thomas Wolfensberger became the CEO of Peach Property Group AG (VTX:PEAN) in 2006. This analysis aims first to...


  • Is There An Opportunity With New Wave Group AB (publ)'s (STO:NEWA B) 30% Undervaluation?

    Is There An Opportunity With New Wave Group AB (publ)'s (STO:NEWA B) 30% Undervaluation?Does the November share price for New Wave Group AB (publ) (STO:NEWA B) reflect what it's really worth? Today, we will...


  • India may extend onion export ban to February to cap domestic prices

    India may extend onion export ban to February to cap domestic pricesIndia may keep a ban on onion exports until February because domestic prices have risen after the harvest of summer-sown crops, which were expected to augment supplies, was delayed and damaged by untimely rains, a government official said. The ban on overseas sales by India, the world's biggest exporter of the bulb, will keep prices elevated in Asia and require importers in Nepal, Bangladesh and Sri Lanka to find other sources to fulfil their demand. Despite the export ban enacted in September to keep domestic supply inside India, prices have surged after rain and floods during October and November limited onion supply, especially in Maharashtra, the country's biggest producer.


  • Interested In Compagnie Plastic Omnium SA (EPA:POM)? Here's What Its Recent Performance Looks Like

    Interested In Compagnie Plastic Omnium SA (EPA:POM)? Here's What Its Recent Performance Looks LikeAfter looking at Compagnie Plastic Omnium SA's (ENXTPA:POM) latest earnings announcement (30 June 2019), I found it...


  • Some Meyer Burger Technology (VTX:MBTN) Shareholders Have Taken A Painful 95% Share Price Drop

    Some Meyer Burger Technology (VTX:MBTN) Shareholders Have Taken A Painful 95% Share Price DropMeyer Burger Technology AG (VTX:MBTN) shareholders should be happy to see the share price up 16% in the last quarter...


  • Is Mayr-Melnhof Karton AG's (VIE:MMK) ROE Of 13% Impressive?

    Is Mayr-Melnhof Karton AG's (VIE:MMK) ROE Of 13% Impressive?While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...


  • Siemens Limited (NSE:SIEMENS) Delivered A Better ROE Than Its Industry

    Siemens Limited (NSE:SIEMENS) Delivered A Better ROE Than Its IndustryWhile some investors are already well versed in financial metrics (hat tip), this article is for those who would like...


  • What Type Of Shareholder Owns Balkrishna Industries Limited's (NSE:BALKRISIND)?

    What Type Of Shareholder Owns Balkrishna Industries Limited's (NSE:BALKRISIND)?If you want to know who really controls Balkrishna Industries Limited (NSE:BALKRISIND), then you'll have to look at...


  • Is IQE (LON:IQE) Using Too Much Debt?

    Is IQE (LON:IQE) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...


  • Nativity on the run, ‘Bag O’Slag,’ kapu aloha: News from around our 50 states

    Nativity on the run, ‘Bag O’Slag,’ kapu aloha: News from around our 50 statesHigh temp, snowfall records set on same day in Alaska city; museum vows to add only art by women next year in Maryland; and more


  • Why You Should Like Aena S.M.E., S.A.’s (BME:AENA) ROCE

    Why You Should Like Aena S.M.E., S.A.’s (BME:AENA) ROCEToday we'll look at Aena S.M.E., S.A. (BME:AENA) and reflect on its potential as an investment. In particular, we'll...


  • Estée Lauder Companies acquires K-beauty skincare brand Dr. Jart+

    Estée Lauder Companies acquires K-beauty skincare brand Dr. Jart+The Estée Lauder Companies Inc. is investing in K-beauty. The cosmetics giant has announced the imminent acquisition of Have & Be Co. Ltd., the Seoul-based, skincare company behind the cult beauty brand Dr. Jart+ (the company also owns the men's grooming brand Do The Right Thing). The deal, which is expected to close next month, marks Estée Lauder's first acquisition of an Asia-based business.


  • 3 ‘Perfect 10’ Stocks With Plenty of Upside Ahead

    3 ‘Perfect 10’ Stocks With Plenty of Upside Ahead10 is a majestic number. Used to bestow a quality of unmatched excellence, be it as a score in a gymnastics routine, or as a number on the back of a sportsman/woman’s shirt, indicating leadership and guru-like status.TipRanks makes good use of the aspirational number too. The Smart Score tool combines 8 key metrics that can indicate a stock’s long-term growth potential. The data is analyzed, and the stock is given a score accordingly. The highest score, naturally, is a “Perfect 10”.Setting out on our quest for perfection, with the Smart Score’s assistance, we homed in on 3 Perfect 10 Stocks with plenty of room for growth ahead. Let’s take a look.Yeti Holdings (YETI)Unicorn brands are a rare sight; hence they’re called - you guessed it - unicorn brands. The title refers to a privately held company that reaches a value of $1 billion. One such brand making quite a splash since going public is Yeti Holdings.The outdoor product manufacturer held its IPO in October 2018 and has mostly been on a cool upward trend ever since. It has made excellent progress in building its brand identity, seducing lovers of the outdoor lifestyle with its varied line of products. As a result, it now boasts 1.3 million followers on Instagram. Following previous strong quarters, 3Q continued the trend. Sales came in at $229M beating the $222M estimate, alongside increasing sales growth. Yeti delivered on EPS too - at $0.30 it beat the Street’s estimate of $0.26.Looking ahead, Jefferies’ 4-star analyst Randal Konik thinks the growth is set to continue, noting, “YETI is a brand that consumers (Pros/ Joes) love & also see as a gifting destination.” He adds, “We see significant opportunity for YETI to expand its TAM as it broadens its exposure to non-heritage markets in the US and international over the long-term. With continuous innovation in new and existing product categories, and a quickly growing margin-enhancing DTC channel, we believe top-line and margin opportunities are significant.” On the back of his analysis, Konik reiterated a Buy rating on Yeti, with a price target of $47.00, providing potential upside of almost 60%. (To watch Konik’s track record, click here)Another analyst singing YETI’s praises is Piper Jaffrey’s Peter Keith, who said, “Business momentum remains strong and we see upside to implied Q4 guidance. Importantly, we believe YETI is demonstrating longer-term growth potential, considering success with new product launches, steady/consistent gross margin expansion, intriguing store expansion opportunity both w/ Wholesale and DTC, and engaging marketing.” Like Konik, Keith reiterated a Buy on the stock, with a price target of $39.00. (To watch Keith’s track record, click here)The analysts’ positive sentiment is shared by the Street, as Yeti currently ranks as a Strong Buy. The cooler manufacturer has a consensus of 7 Buys and 1 Hold with an average price target of $40.50. This implies handsome potential upside of over 37% from its current price of $29.41. (See Yeti stock analysis on TipRanks)CryoPort (CYRX)With a motto of “Science. Logistics. Certainty.” CryoPort, which provides cold chain logistics solutions to the life sciences industry, presents itself boldly.In layman’s terms, it is a frozen shipping container company moving biological specimens around the world in sub-zero temperatures. Its clients include biopharmaceutical, IVF and surrogacy as well as animal health organizations across the globe.The company recently posted strong 3Q19 results, with revenue up 81% year-over-year, and positive adj. EBITDA for the second consecutive quarter. Among the highlights in the report were increased market share in the regenerative medicine clinical trial sector and a strategic partnership with Lonza. Lonza provides product development services to the pharmaceutical and biologic industries and is considered one of the largest players in the field. Needham’s 4-star analyst Stephen Unger thinks the partnership is good news for CryoPort, noting, “The goal of the partnership is to provide customers developing cell and gene therapies with a fully integrated solution for outsourced manufacturing and cold-chain logistics, which we see increasing customer visibility of CYRX's best-in-class logistics solutions earlier in the therapy development process.” Following the quarterly report and positive developments, Unger maintained his Buy rating on CYRX. His price target is $24.00. (To watch Unger’s track record, click here)B.Riley FBR’s Andrew D'Silva is also impressed with the partnership. The analyst said, “We believe Lonza has positioned itself as one of the cell and gene therapy industry's leading contract development and manufacturing organizations (CDMOs). As a result, we believe CYRX being selected as Lonza's preferred partner is another substantial validation for the company and should help further increase CYRX's logistics volumes.”To this end, D’Silva reiterated his Buy rating on CYRX stock, along with a price target of $26.00, providing potential upside of 70%. (To watch D’Silva’s track record, click here) Not many analysts have presently weighed in on the small cap’s potential for the year ahead. With a consensus of 2 Buys, CYRX currently ranks as a Moderate Buy. That being said, the average price target is $25.00, implying nice upside of almost 64% from its current price of $15.56. (See Cryoport stock analysis on TipRanks)Sonos (SONO)Speakers act louder than words, so the phrase goes. Well, not quite, but it does lead us nicely to our final choice.Consumer electronics company Sonos is mostly known for its smart speakers. Apart from the excellent sound quality, Sonos’ Sonoset system creates a custom Wi-Fi network, eliminating the need for old fashioned wires and allowing for music to be played simultaneously in different rooms. This is great for household systems, and earlier this year Sonos partnered with furniture giant Ikea on a new line of products, an alliance RBC Capital’s Robert Muller thinks has the potential to drive new customer adoption. The analyst said, “We believe the true value of Sonos lies in the family ecosystem whereby additional speakers complement one another. Once exposed to Sonos, we expect new customers to quickly envision the benefits of additional speakers throughout their homes. If SONO is able to expand the number of homes it's in (currently in ~8MM worldwide with nearly 4MM in the US), we should see a wave of secondary purchases.”Emphasizing this thesis, Muller says almost 4 out of 10 new purchases are from existing Sonos customers. Furthermore, the analyst also views SONO as a potential acquisition target for one of the tech giants, adding, “We do not believe current valuation adequately captures acquisition potential, expansion opportunities, or current baseline growth”. Following his analysis, Muller initiated coverage, along with a price target of $18.00. (To watch Muller’s track record, click here). A consensus rating of 3 Buys and 1 Hold means the Street is ready to turn the volume up on Sonos, rating the speaker manufacturer as a Strong Buy. The average price target is $18.25, providing upside of 24% from its current price of $14.70. (See Sonos stock analysis on TipRanks)


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    Aroundtown Agrees to Buy TLG Immobilien in $3.4 Billion Deal(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Aroundtown SA agreed to buy TLG Immobilien AG for 3.1 billion euros ($3.4 billion) in stock to create Germany’s biggest commercial landlord.The deal values TLG shares at 27.66 euros each, 3.2% more than Monday’s closing price, Luxembourg-based Aroundtown said in a statement. A tie-up would create a company with more than 25 billion euros of assets, bringing together the deal-making acumen of Aroundtown with the development expertise of TLG.“The transaction with Aroundtown is a unique opportunity for TLG to strengthen our presence in key cities in Germany as well as access new markets,” TLG said in the statement. The firm will be able to “attain a financial profile that would have been hard to achieve on our own.”Germany is set to knock the U.K. off its perch as Europe’s most active property market, as yield-hungry investors bet the region’s traditional growth engine will bounce back from its current economic malaise. Investors poured 49.4 billion euros into German commercial real estate in the 10 months through October, surpassing the 35.1 billion euros of deals in the U.K.A merger could improve share liquidity and lead to a potential inclusion in the DAX index, says analyst Tim Leckie of JPMorgan Securities Plc. A deal would also create savings and prevent rivals from scaling up through similar mergers, he said when talks started in September.TLG climbed 2.4% to 27.45 euros at 9:23 a.m. on Tuesday, while Aroundtown was little changed. The combined company will be renamed, but continue to have its German headquarters in Berlin. Ouram Holding SA, TLG’s largest shareholder with a 28% stake, has accepted the bid.“In Germany, construction is unable to keep up with demand in almost all major cities,” Marcus Lemli, head of Savills Plc’s German operation, said last week.For more details on the deal, click here(Adds more details throughout)To contact the reporter on this story: Andrew Blackman in Berlin at ablackman@bloomberg.netTo contact the editors responsible for this story: Shelley Robinson at ssmith118@bloomberg.net, Chris Bourke, Jack SiddersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


  • FCC Chairman Calls for Public Auction of C-Band Airwaves

    FCC Chairman Calls for Public Auction of C-Band Airwaves(Bloomberg) -- The Federal Communications Commission decided to sell lucrative airwaves through a public auction rather than letting Intelsat SA and SES SA conduct a private sale of the frequencies as they had proposed.The FCC’s plan, which could slash the satellite companies’ take by billions of dollars, was announced in a tweet by FCC Chairman Ajit Pai, who, according to agency officials, had earlier discussed the matter with President Donald Trump.Shares in both companies suffered their biggest ever declines, with Intelsat slumping 40% on Monday and SES down as much as 23% in early trading on Tuesday. Pai said the sale should free airwaves for 5G wireless use, do so quickly and generate revenue for the U.S. government. He didn’t say if any proceeds would be earmarked for the companies. The FCC could vote to adopt the plan early next year.“I’ve concluded that the best way to advance these principles is through a public auction,” Pai said in a tweet.The satellite companies signaled resistance, saying in a statement they would work toward an alternative and calling Pai’s plan “a significant departure” that “does not address the critical involvement of the incumbent satellite operators” in reconfiguring the uses of airwaves.“Intelsat is significantly over-levered. They need a major spectrum windfall to right-size their balance sheet and end up with a capital structure that’s tenable,” said Stephen Flynn, a telecom analyst at Bloomberg Intelligence. “The more uncertainty and the longer it takes, it adds more risk.”SES also needs the frequency income to cut debt ahead of a jump in capital spending expected in 2021, BI said. SES stock was down 21% at 10:46 a.m. in Paris, while its EU500m 2027 notes fell the most since pricing in late October. SES 5-year senior credit default swaps widened 19 basis points to 90 basis points, the most since 2009. Intelsat and SES -- both based in Luxembourg -- want to sell some of the airwaves they now use to send shows to TV stations across the U.S. Wireless providers gearing up for fast 5G networks are seeking additional capacity and might buy them. The satellite companies plan to retain enough airwaves to continue servicing TV stations.The satellite providers’ plan provoked opposition among lawmakers who expressed concern about European companies profiting from the sale of U.S. airwaves, including Senator John Kennedy, a Louisiana Republican who said he called Trump to raise an alarm. Trump called Pai on Oct. 30 and while the issue was discussed, the president didn’t direct the agency on what to do, said an FCC official who spoke on condition of anonymity.Kennedy told reporters that Pai was “putting both the American taxpayer and our 5G effort first” with Monday’s announcement.The senator said there “are some swamp creatures in the government who were trying to help some of their telecommunications buddies put all four feet and their snout into the trough -- and the FCC today said, ‘Nope, we’re going to do this right.’”Also Monday, leading Republicans introduced legislation requiring a C-band sale to begin by the end of next year, with taxpayers getting at least 50% of the airwaves’ market value.“This legislation would get crucial mid-band spectrum into the market to benefit the American people and secure our position as the leaders in the race to 5G,” Senator Roger Wicker, chairman of the Senate Commerce Committee, said in an emailed news release.Kennedy, who spoke in a telephone call, said he opposes the Wicker bill and wants taxpayers to harvest a higher percentage. He didn’t offer a figure.FCC officials declined to discuss what portion of sales the satellite companies might get under a public auction. They said the agency intends to begin the sale in 2020.JPMorgan said in a note that it appears “the private auction process is officially dead, but there is still no consensus of how to get to a public auction.”Intelsat wants to use proceeds to reduce some of its $14 billion debt load, otherwise its leverage could rise to a potentially unbearable level by the end of this year, according to Bloomberg Intelligence.An array of Intelsat notes sank on the news, with some 2025 maturities hitting their lowest level in more than a year and a 2024 bond setting an all-time low.Intelsat bonds led high-yield declines Monday, with its 8.125% notes maturing June 2023 dropping 9.25 cents on the dollar to 60.25 cents. The debt yields about 26%. Its 9.5% notes due February 2023 fell 8.1 cents on the dollar to 73.4 cents.On Nov. 15, the C-Band Alliance group made up of Intelsat, SES and Ottawa-based Telesat offered to voluntarily pay the U.S. Treasury 30% to 75% of the billions of dollars they could reap if they’re allowed to sell airwaves in a private auction.The airwaves in question are in the 3.7 gigahertz-to-4.2 gigahertz area of spectrum, known as the C-band. Intelsat and SES dominate that patch of airwaves, which are considered well-suited for 5G networks.Proponents say the frequencies are needed to help the U.S. beat China in a so-called race to 5G. The alliance that includes Intelsat and SES said its proposal would be quicker than an FCC-run auction.The C-Band Alliance in its statement Monday said that “the full cooperation of the satellite operators will be required to ensure the successful clearing of the C-band while protecting the incumbent broadcast services enjoyed by millions of U.S. households.”(Updates with SES bonds and CDS in eighth paragraph)\--With assistance from Susan Decker.To contact the reporters on this story: Todd Shields in Washington at tshields3@bloomberg.net;Allison McNeely in New York at amcneely@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Thomas Pfeiffer, Gregory MottFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.


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