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Brussels was abuzz over allegations that Huawei bribed MEPs, diverting attention from Viktor Orbán's successful veto on renewing sanctions against Russian entities. In a deal to avoid sanctions expiring, EU ambassadors acquiesced to Orbán's demands, illustrating the ease with which he manipulates the EU. Meanwhile, life expectancy in the EU reached a record 81.4 years in 2023, and Germany's centrist parties agreed on a significant infrastructure and defense spending package.
Belgian authorities have arrested several individuals in a corruption investigation involving the European Parliament and Chinese tech giant Huawei. The suspects are accused of engaging in "active corruption" to benefit Huawei through bribery disguised as commercial lobbying, including excessive gifts and payments linked to political positions. The investigation, which has raised concerns about potential money laundering, follows a previous bribery scandal involving EU lawmakers and officials from Qatar and Morocco.
US President Donald Trump has introduced a new "gold card" visa program for foreign investors, requiring a USD 5 million investment for residency and a pathway to citizenship. This initiative replaces the EB-5 program and aims to direct funds to the government to help reduce deficits, rather than solely creating jobs. Golden visa programs are increasingly popular worldwide as a means to attract foreign investment and generate revenue.
TBO Tek's shares fell 5.3% to INR 1,427.70, ending a three-day winning streak, with a market capitalization of INR 15,504.71 Cr. Despite a nearly 2% drop in Q3 FY25 net profit to INR 49.97 Cr due to forex losses, revenue surged over 29% to INR 422.18 Cr, driven by growth in hotels and ancillary services. The company continues to expand internationally, recently entering markets in Indonesia and Greece.
HSBC's restructuring, initiated by former CEO Noel Quinn, has led to a significant reduction in costs and improved profitability, particularly in Asia. Current CEO Georges Elhedery continues this strategy, focusing on strategic investments while cutting back on underperforming divisions in Europe and North America. The bank is set to achieve its best ten-year earnings per share in 2024, reflecting a strong recovery in investor confidence, although concerns about the Chinese real estate market persist.
UBS maintains a "buy" recommendation for National Bank of Greece (NBG) stocks, with a price target of €11.20, citing attractive valuations despite a recovery from last year's lows. While profitability may decline with falling interest rates, ROTE is projected to rise to 18.8% by 2026, supported by increased distributions. The upcoming earnings report is expected to focus on the bank's outlook and updated business plan, extending projections to 2027, following significant one-off charges in Q4.
UBS remains optimistic about Greek banking stocks as the 2024 earnings season approaches, starting with Piraeus Bank on February 24. Investors are keen to see if banks will maintain or upgrade their net interest income projections for 2026 and how they will balance cash dividends with share buybacks.Despite a slowdown in corporate lending growth in December, overall trends in private sector credit remain strong, with a year-on-year growth rate of 4%. The reduction in non-performing exposures is also noted, contributing to a solid outlook for the sector.
HSBC is set to announce $1.5 billion in annual cost savings as part of its restructuring efforts under new CEO Georges Elhedery. The bank is shifting its focus towards Asia, winding down M&A and equities businesses in Europe and the Americas, and reorganizing into four main business lines. This marks a significant retrenchment from investment banking for HSBC, which has been scaling back its global operations in recent years.
Uber Technologies, Inc. operates in multiple regions, focusing on Mobility, Delivery, and Freight services. Institutional investors hold 80.24% of its stock, while analysts maintain a "Moderate Buy" rating, with a consensus target price of $90.89. Recent price targets from UBS and other firms reflect a range of $95.00 to $107.00.
FDM Group shares (LON: FDM) have seen a significant decline, dropping 24.59% in early 2025 and 47.88% over the past year. Deutsche Bank has cut its price target from 360 GBp to 275 GBp while maintaining a Hold rating, reflecting cautious optimism amid a challenging market. The stock, currently trading at 239.50p, has fallen over 80% since September 2021, as it seeks support in a fluctuating environment.
GRC
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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