(Bloomberg) — When Brazil’s interest rates hit 12.25% in December, it soon became clear that even billionaires couldn’t make the market work for them.Rubens Ometto said the latest increase in borrowing costs was behind his decision to sell his 9 billion reais ($1.58 billion) stake in mining giant Vale SA the following month. He said he had to reduce his conglomerate Cosan SA’s leverage and pay down debt. Rates have since gone up to 13.25%.Leia também a versão em português: clique aqui.That very environment — along with forecasts of higher inflation, a weaker real and growing public debt — has…
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Image source: Getty Images The share price of the UK’s largest defence contractor, BAE Systems (LSE: BA.), suffered minor losses this morning (19 February) after posting its full-year 2024 results. It had started the year with exceptional growth, up 16% year-to-date when markets opened on Monday this week. Then this morning it announced its full-year 2024 results. Despite strong sales and revenue, some figures missed analyst expectations. Even though the news was positive overall with an increase in cash flow guidance, the shares slipped 3% in early morning trading. The numbers Today’s earnings report covered the 12-month period ending 31…
Shoes are seen for sale in a Stuart Weitzman store, owned by Tapestry, Inc., in Manhattan, New York, U.S., November 19, 2021.Andrew Kelly | ReutersCoach parent Tapestry will sell its Stuart Weitzman brand to Dr Scholl’s footwear owner Caleres for $105 million in cash, the companies said on Wednesday.The divestment comes months after Tapestry said it was focused on driving growth for its organic business and had “significant runway ahead” following a derailed $8.5 billion merger deal with Michael Kors-owner Capri.While Tapestry witnessed strong demand for Coach’s Tabby handbags in the holiday quarter, Kate Spade and Stuart Weitzman struggled due…
Image source: Getty Images Disruptive growth stocks trading for a few dollars have the potential to generate life-changing returns. One that’s been getting a lot of attention from investors is Recursion Pharmaceuticals (NASDAQ: RXRX). Recently, the stock soared almost 24% in a single day (14 February). The company is backed by Nvidia, as well as Scottish Mortgage Investment Trust, and Softbank. So there’s a lot of smart institutional backing here. Let’s take a closer look at this under-the-radar $10 stock. The company at a glance Recursion is a clinical-stage biotech firm that’s attempting to industrialise drug discovery by using artificial…
At the end of January, Vingroup’s V-Green Charging Stations Company signed an agreement with eTreego, a Taiwanese company specialising in charging equipment and management systems, to develop the VinFast electric vehicle (EV) charging network in Indonesia, the Philippines, and Vietnam. According to V-Green representatives, in addition to installing 100,000 charging portals in three key ASEAN markets by 2030, the two sides have also agreed to encourage green conversion initiatives, including the development of carbon credit certification for V-Green’s charging stations. The two companies will also discuss the development of the VinFast EV supply chain and expanding operations to other markets…
Ankit Metal & Power, a microcap in the steel industry, has hit a new 52-week low, reflecting significant volatility and a 47.98% decline over the past year. The stock has consistently underperformed its sector and is trading below key moving averages, indicating ongoing challenges in the market. Source link
The Trump administration is fully engaged in a drive to eliminate virtually any government activity or mention related to climate change—with a few notable exceptions. Take, for example, a single tax credit in Joe Biden’s signature climate law that may have the best chance of survival out of any climate-coded policy.A provision in the Inflation Reduction Act, known as 45Q, enlarged a tax credit for any company willing to capture carbon dioxide. A version of this credit has been in place since George W. Bush’s presidency, and in its current iteration, it represents billions of dollars in federal incentives. If…
Image source: Getty Images Arguably the largest event for the S&P 500 last year was the US presidential election, held in early November. We’re now over three months past that date, with Donald Trump implementing early policy actions. Investors have already experienced high volatility in the market during this period, with tariff talk and other actions in focus. Yet if someone had invested £10k the day before the election, here’s how things would be looking now. Details of the performance On the day before the election, the S&P 500 was trading at 5,712 points. It’s now at 6,129 points. This…
West Lancashire-based company LJ Mining is launching a new sustainable cloud mining innovation that champions eco-friendly practices while ensuring high profitability for businesses. The brand’s cloud mining platform is suitable for investors of all experience levels, ensuring everyone can use crypto mining to gain a passive income stream. LJ Mining offers a signup bonus of $10, daily high-profit payouts with no hidden fees, multi-cryptocurrency support, a referral program, and other benefits that set it apart from competitors. Notably, LJ Mining’s affiliate program can earn users up to $70,000 in commissions, and the business prides itself on its compliance with industry…
Image source: Getty Images A weak period for commodity markets has proved catastrophic for Glencore (LSE:GLEN) and its share price. At 329.6p per share, the FTSE 100 company is down 16.3% over the past year. It’s nearly 7% lower today (19 February) after announcing a second straight year of sinking earnings. Due predominantly to falling coal prices, Glencore said that adjusted EBITDA dropped 16% over the course of 2024, to $14.4bn. The miner also crashed to a loss before tax of $998m from a profit of $5.4bn the year before. 2024 was another year of operational robustness, with production across…