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BNP Paribas has renewed its title sponsorship of the BNP Paribas Open tennis tournament through 2029, solidifying its position as the longest-running title sponsor in the event's history since starting in 2009. The partnership, highlighted by the annual $20,000 BNP Paribas Open Scholarship for local high school students, reflects the tournament's growth and its impact on the Coachella Valley economy. The event continues to attract top players and large crowds, bolstered by significant investments from owner Larry Ellison since 2009.
BYD is considering establishing its third European car assembly plant in Germany to enhance brand awareness, despite concerns over high labor and energy costs. Currently, the company is building two NEV plants in Hungary and Turkey, with production set to start in October 2024 and March 2026, respectively. The final decision on the new plant will depend on sales performance in Europe and the capacity utilization of existing facilities.
Danske Bank A/S has initiated a share buy-back programme totaling DKK 5 billion, aiming to repurchase up to 45 million shares from February 10, 2025, to January 30, 2026. In week 11, the bank acquired 25,000 shares at an average price of DKK 236.1302, bringing the total to 125,000 shares, representing 0.015% of its share capital.
Slaughter cattle prices in the EU continue to rise, with young bulls averaging 624.93 euros/100 kg BW, a 0.5% increase. Notable price hikes were seen in Denmark, Ireland, and Poland, while Italy experienced a 4.3% drop. Slaughter cow prices also increased to 515.87 euros/100 kg BW, with significant gains in several countries, although Austria and Spain saw declines. Heifer prices rose to 610.19 euros/100 kg BW, with Poland and Belgium leading the increases, while Italy's prices fell by 3.3%.
Tesla owners are increasingly selling their vehicles, leading to a significant drop in used car prices, coinciding with Elon Musk's rising political influence and controversies. The average price of a used Tesla has fallen by $10,000, with many owners citing Musk's reputation as a key reason for their decision to part ways with the brand. Protests and backlash against Tesla have surged, particularly in Europe, where demand has plummeted by over 40% in several countries.
Belgian police have conducted multiple raids as part of a corruption investigation linked to Huawei's lobbying efforts within the European Parliament since 2021. Several individuals, suspected of bribing current and former members to promote Huawei's interests, have been detained, with operations extending to Portugal and France. The investigation highlights allegations of discreet corruption practices, including excessive gifts and compensation for political positions, prompting a strong response from Huawei, which maintains a zero-tolerance policy towards corruption.
Roche has entered a collaboration with Zealand Pharma, investing up to $5.3 billion to develop a new generation of anti-obesity injections. This strategic move marks Roche's significant commitment to the lucrative weight loss market, following interest from several pharmaceutical companies.
UBS has maintained its "Buy" rating for Novo Nordisk, setting a target price of 750 Danish crowns. Analyst Jo Walton noted a strong recovery in the prescription trend for GLP-1 weight loss drugs, marking the best figures of the year, though she refrained from declaring a definitive trend reversal.
Tesla's sales have plummeted in several key markets, with a staggering 76% drop in Germany and nearly 50% decline in China, where competition from BYD surged. Other European countries like Norway, Denmark, and Sweden also reported significant year-over-year decreases, raising concerns for Elon Musk as he aims for growth amid increasing competition and political controversies surrounding his actions.
European stock markets closed mostly higher on Wednesday, with the Stoxx Europe 600 rising 1.01% and Germany's DAX gaining 3.55%. The eurozone economy showed slight expansion in February, with the HCOB Eurozone Composite PMI at 50.2, while the UK Services PMI rose to 51.0.In corporate news, Deutsche Bank was fined €23.1 million for regulatory breaches but saw shares close 12% higher. Novo Nordisk launched a direct-to-patient online pharmacy for its weight loss injection at a reduced price, boosting its shares by 2.5%. Mining stocks also performed well, with ArcelorMittal closing 10% higher in Paris.
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bnp paribas extends title sponsorship of indian wells masters through 2029
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11:14 17.03.2025
byd considers third european plant in germany amid tariff challenges
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10:46 17.03.2025
danske bank completes week 11 of share buyback program with 25000 shares
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Belgian police conduct raids in EU bribery probe linked to Huawei
19:38 14.03.2025
Roche invests 5.3 billion in Zealand Pharma for anti-obesity collaboration
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UBS maintains buy rating for Novo Nordisk with target price of 750 crowns
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tesla faces significant sales declines in key markets amid rising competition
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european equities rise as eurozone economy shows slight expansion in february
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18:05 05.03.2025
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