europe
Hyatt Hotels Corporation (NYSE: H) is in focus this morning after revealing it has bought me and all hotels brand to expand its footprint in Germany. Shares of the hospitality giant are up more than 1.0% on Friday. Hyatt inked a deal with Lindner HotelsHyatt announced a deal with Lindner Hotels to add seven boutique hotels today. Arno Schwalie – the chief executive Lindner said in a press release today: We are thrilled to deepen our successful collaboration and shift into high-growth gear for me and all hotels, backed by Hyatt’s global distribution engine. The Hyatt-Lindner transaction closed ...
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Infinera Corp (NASDAQ: INFN) is up 20% on Friday after Nokia Oyj disclosed plans of buying the California-based company for $2.3 billion. Shares of the telecommunications giant are roughly flat at writing. Infinera stock valued at 27% premiumNokia expects the Infinera acquisition to help strengthen its hold on the optical network space. Buying the Nasdaq-listed firm is also means for it to expand its footprint in North America. The deal values each share of Infinera at $6.65 – about a 27% premium versus their previous close. Pekka Lundmark – the chief executive of Nokia said in a press release...
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Germany’s unemployment rate increased to 6% in June, reaching its highest level since May 2021, according to a report released by the Federal Employment Agency on Friday. This rise reflects growing concerns about the country’s economic stability amid global uncertainties. Unemployment numbers increase The number of unemployed people in Germany grew by 19,000 in June, exceeding analysts’ predictions. This follows a similar increase in May, when the number of unemployed people rose by 25,000. The steady rise in unemployment highlights ongoing challenges in the German labour market, potentially i...
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Whirlpool Corporation (NYSE: WHR) is up 20% today following a report that Robert Bosch may be interested in buying the home appliances company. Shares of the potential acquiree are still down some 15% versus the start of 2024. Why does Bosch want to acquire Whirlpool?Anonymous sources told Reuters this morning that Bosch may soon bid for Whirlpool to expand its footprint in household appliances. The German engineering group is already in talks with advisers to explore the possibility of formally proposing a buyout, they added. Whirlpool Corporation is currently valued at about $4.8 billion. No...
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Novo Nordisk A/S (CPH: NOVO-B) climbed 3.0% to an all-time high on Tuesday after China approved the sale of its weight-loss treatment Wegovy. Year-to-date, shares of the pharmaceutical giant are now up a whopping 45%. Why is it a big deal for Novo Nordisk stock?Novo Nordisk is yet to reveal the details of its launch plan. How much will its weight-loss drug cost in China remains unknown as well. Nonetheless, the announcement is significant for Novo Nordisk stock as it clears the path for Wegovy to generate sales from the world’s second largest economy. Initially, the weekly injectable will be a...
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The German business climate saw a decline in June, with the Business Climate Index dropping from 89.3 in May to 88.6, according to the Institute for Economic Research (Ifo) report released on Monday. This dip indicates ongoing difficulties in the German economy as it struggles to overcome stagnation. Business climate index declines The Business Climate Index, a crucial indicator of business sentiment in Germany, fell to 88.6 in June, down from 89.3 in May. This decline reflects growing concerns among businesses about the current economic environment and their future prospects. The index’s drop...
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China wants the European Union to scrap its preliminary tariffs on Chinese EVs by July 4, China’s state-controlled Global Times said citing observers, as both countries agreed to launch consultations on the anti-subsidy investigation. “Observers said the best outcome the Chinese side wants is that the EC, the executive body of the EU, scrap its tariff decision before July 4 and abide by WTO rules,” Global Times said. Earlier this month, the EU announced that it would impose tariffs of up to 38% on electric cars produced in China, effective from July 4, if ongoing talks with Chinese authorities...
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The DAX has started to pick up pace again on Monday morning, after a mixed-bag performance late last week resulted in the index gaining 1%, then losing half of it, within the space of 24 hours. On the morning of June 24, within the first couple of hours of German markets opening, the index had gained 0.53% to trade at around $18295.61. The DAX was at approximately $18271.61 at the time of this article going to press. This reversed losses when the DAX fell 0.50% to 18,164 points on Friday June 21, after rising 1.03% to 18254.18 points on June 20. The IFO Business Climate IndexCrucial for DAX pe...
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The European Union (EU) regulators announced on Monday that Apple is in breach of the Digital Markets Act (DMA), a set of new tech regulations. This decision follows an investigation that highlighted Apple’s restrictive practices on its App Store, preventing customers from being directed to alternative purchasing options. EU’s findings on App Store practices The European Commission stated that Apple’s App Store rules prevent app developers from freely steering consumers to alternative channels for offers and content. This preliminary finding is part of a broader investigation under the DMA, wh...
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M Science published a cautious report against On Holding AG (NYSE: ONON) on Friday. Shares of the sneaker company are in the red at writing. On Holding stock does not currently pay a dividend either. Why is M Science cautious on On Holding stock?On Holding is facing a slow down in the second quarter in two of its largest markets: Europe and the United States, as per M Science. Earlier in June, the Swiss firm named Zendaya a brand partner for On Running and confirmed that the Spiderman lead has agreed to a multi-year collaboration with the sportswear company. But the related boost is proving to...
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