By Valentina Za, Tom Sims and Andreas Rinke MILAN/FRANKFURT (Reuters) -German Chancellor Olaf Scholz slammed as “an unfriendly attack” UniCredit’s move to become the biggest investor in rival Commerzbank (ETR:) with a potential 21% stake, marking growing hostility towards the Italian bank. The German establishment’s ire towards UniCredit using derivatives to more than double its potential stake before obtaining regulatory clearance for an actual holding of more than 9.9% piles pressure on European Central Bank supervisors. Led by German academic Claudia Buch, they are now called to rule on UniCredit’s request to buy up to 29.9% of Commerzbank. “Unfriendly attacks,…
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The price of gold is sitting at a new record high — but there are still big benefits to buying in. Getty Images/iStockphoto Gold prices are making headlines yet again this week after breaking through the $2,600 per ounce barrier — marking a new all-time high for the precious metal. This latest price milestone is another chapter in gold’s impressive rally, which has led the precious metal to consistently outperform expectations since the start of the year. Gold’s price has hit a handful of new highs so far in 2024 — the first of which occurred in March, when gold prices climbed…
A Southwest Airlines plane takes off from Hollywood Burbank Airport on July 25, 2024 in Burbank, California. Mario Tama | Getty ImagesSouthwest Airlines has warned employees that it will have to make “difficult decisions” ahead to boost profits as the carrier faces pressure from activist Elliott Investment Management, which has sought leadership changes at the company.Southwest over the summer announced a host of major changes to its more than 50-year-old business model to drum up revenue. It plans to ditch open seating for assigned seats, offer seats with more legroom that fetch a higher fare and start red-eye flights.It has also…
Image source: Getty Images The IAG (LSE:IAG) share price was vastly undervalued, according to City and Wall Street analysts. When I covered the stock in early August, the airline operator was trading at a 42.8% discount to the average share price target. So, why has the stock started moving toward its share price target? And will it go higher from here? Let’s explore. New catalysts There are several reasons the IAG share price is trading higher. First is the decision, reported on 1 August, to scrap the proposed takeover of Air Europa. This removes significant regulatory risks, particularly from the…
China Raises Retirement Age For The First Time In Decades: What It Means For Global Pension SystemsChina, a country with one of the lowest retirement ages in the world, will raise its retirement age starting in January 2025. At that time, China will gradually increase its retirement age over the next 15 years.Currently, the retirement ages in China are 60 for men and 50 for women in blue-collar jobs and 55 for women in white-collar jobs. The increase will put the retirement age for men at 63 and for women, it will be 55 for blue-collar workers and 58 for…
Neodymium is displayed at the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. factory in Baotou, Inner Mongolia, China.Nelson Ching | Bloomberg | Getty ImagesMining firm Rare Earths Norway says it has discovered Europe’s largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region.One of the few deposits not owned or controlled by China, the discovery of continental Europe’s largest rare earths deposit is considered a welcome boost in Europe’s bid to break China’s rare earths dominance.Demand for rare earths and critical minerals is expected to grow exponentially…
In a challenging year for the automotive industry, Ford Motor Company (NYSE:)’s stock has reached a 52-week low, dipping to $3.33. This price level reflects a significant downturn from the company’s performance over the past year, with Forward Industries experiencing a 1-year change of -56.58%. The decline in Ford’s stock price is indicative of broader market trends and specific hurdles facing the company, including supply chain disruptions, increased competition, and a shift in consumer demand towards electric vehicles. Investors and analysts are closely monitoring Ford’s strategic moves to navigate these headwinds as the company aims to revitalize its market position…
The Commodity Futures Trading Commission (CFTC) has approved final guidance for designated contract markets (DCMs) regarding the listing of voluntary carbon credit (VCC) derivative contracts. The guidance provides factors for DCMs to consider when assessing compliance with relevant regulations and outlines considerations for submitting new derivative contracts or contract amendments to the CFTC.CFTC Chairman Rostin Behnam emphasized the importance of this guidance in promoting transparency, liquidity, and market integrity in VCC derivatives markets. “Carbon credit quality is determined by data integ | RSS.com“The CFTC’s unique mission focused on risk mitigation and price discovery puts us on the front lines of the…
Image source: Getty Images What do we want from a passive income stock? First we want a good dividend to create the income. And it’s passive because, well, we don’t have to do any work once we’ve bought it. But then I want a stock that I believe will keep its dividend growing, at least in line with inflation, for the next 10 or 20 years. And I want it to look cheap on fundamental measures. I know a sustainable high dividend yield can imply that. But I want a chance of stock price appreciation too, as a bonus. Insurance…
Kamala Harris’ core economic objective is to build an “opportunity economy” for America. In August, she told the Democratic National Convention that she would “bring together labor and workers and small-business owners and entrepreneurs and American companies to create jobs.” There is another constituent that will be important in determining the success, or failure, of the Harris goals—namely, the capital markets. If elected, the challenge to the Harris Administration will be to craft policies that cause global investors to embrace the “opportunity economy.”The two most important factors for investors are first, a growing economy and second, an increasing stock market.…