Turkish banks are facing a constrained margin outlook due to high interest rates and strict lending policies, leading analysts to forecast a delayed recovery in profits. Earnings estimates for these lenders have fallen by approximately 28% since late September, marking the first decline since March 2021, according to data compiled by Bloomberg.
Tim Cook's recent visit to China aims to strengthen support for Apple Intelligence amid rising competition. Meeting with local officials and partners, he emphasized Apple's commitment to investment and collaboration, while navigating regulatory hurdles for the AI rollout. Despite a successful iPhone 16 launch, Apple faces challenges from local competitors like Huawei, impacting its market share.
Nippon Express is actively pursuing acquisitions in India, having recently completed the acquisition of Austria's Cargo-Partner GmbH and secured a minority stake in Wiz Freight. The company aims to enhance its service offerings and has already won a significant contract with a major technology firm in India.
The strategic sale of the Shipping Corporation of India (SCI) is expected to be delayed until FY26 due to challenges in transferring leases for key non-core assets, including the Shipping House and Maritime Training Institute in Mumbai. Despite a recent stamp duty waiver approved by the Maharashtra government, bureaucratic hurdles in finalizing the lease transfer to the demerged Shipping Corporation of India Land and Assets Limited (SCILAL) have complicated the disinvestment process, prompting a reassessment of the timeline.
Priyanka Gandhi Vadra, Congress general secretary and candidate for the Wayanad Lok Sabha bypolls, has declared assets worth over Rs 12 crore. Her affidavit reveals a total income of over Rs 46.39 lakh for the financial year 2023-2024, including rental income and bank interest. Among her assets, she lists movable assets exceeding Rs 4.24 crore, including bank deposits, mutual funds, a Honda CRV car, and gold valued at Rs 1.15 crore, alongside immovable assets worth over Rs 7.74 crore, primarily from inherited agricultural land and a farmhouse in New Delhi.
The new Budget Law introduces significant changes for 2025, including a baby bonus of €1,000 for newborns with an ISEE under €40,000, an increase in minimum pensions by just €3, and a tax wedge cut for salaries up to €40,000. Additionally, there are confirmed tax breaks for hiring young people and women, alongside a cap on public managers' salaries reduced to €160,000. The Superbonus credits can now be spread over ten years, benefiting taxpayers with lower tax capacity.
European stocks are set for a mixed open as traders await earnings reports from major companies like Barclays and Unilever, amid a backdrop of declining U.S. markets. The U.K.’s FTSE 100 is expected to rise slightly, while Germany’s DAX and France’s CAC are projected to open lower. Global sentiment has been affected by the recent downturn in U.S. indices, with the Dow experiencing its largest one-day loss since early September.
Aster DM Healthcare reported strong financial results for Q3 2024, with Profit Before Tax (PBT) and Profit After Tax (PAT) growing by 201.81% and 306.0% year on year, respectively. Despite this positive trend, the company faced challenges with a 67.24% decline in net sales and decreased operating cash flow, marking the lowest in three years. Overall, the company achieved a score of 8 out of 10, indicating a positive trajectory amid areas needing improvement.
Tesla CEO Elon Musk announced plans to launch driverless ride-hailing services in California and Texas next year, despite facing regulatory and technical challenges. Currently, Tesla offers an app-based ride-hailing service for employees in the San Francisco Bay Area. Musk's comments come as the company aims to regain investor confidence following a recent stock decline linked to the lack of a business plan for its robotaxi initiative.
Sweden’s largest bank, SEB AB, reported a 9.7% decline in net interest income for the third quarter, totaling 11.06 billion kronor ($1 billion), falling short of analysts' expectations of 11.31 billion kronor. The drop is attributed to the impact of central banks' interest-rate cuts on the bank's lending profits.
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