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The Watches & Wonders show in Geneva, featuring 60 brands including Bulgari, Rolex, and Cartier, faces uncertainty amid weak sales and stock market volatility linked to U.S. politics. While Swiss watch exports fell 2.8% in 2024, high-end segments showed resilience, with analysts predicting a mixed outlook for the industry.
Ana Botín highlights a significant productivity gap between Europe and the U.S., urging for a cultural shift that embraces innovation and smart risk-taking. She calls for reducing regulatory complexity and establishing a new social compact between business and society. Meanwhile, Santander reports a profit of €12.6 billion, benefiting from higher interest rates and a focus on digital banking.
Barclays has lowered its price target for Dow Inc. to $38 from $44 while maintaining an equal-weight rating. Dow specializes in manufacturing and marketing a range of products, with net sales primarily from basic plastics (50.7%), elaborate plastics (27.6%), and performance chemicals (20%). Geographically, sales are distributed across the U.S. and Canada (38.2%), Europe/Middle East/Africa/India (32.5%), Asia/Pacific (17.9%), and Latin America (11.4%).
Barclays has lowered its price target for LyondellBasell Industries to $72 from $80 while maintaining an equal-weight rating. LyondellBasell, a leading global chemical group, generates net sales primarily from olefins and polyolefins (40.8%), intermediate chemical products (26.5%), and refining activities (22.3%), with a significant presence in the U.S. market (48.7%). The company operates 32 production sites worldwide.
Deutsche Bank anticipates a surge in M&A activity in Asia Pacific, driven by a strong pipeline of sponsor-driven deals and a convergence in valuation expectations for take-private transactions, particularly in Australia, Japan, and Hong Kong. The bank is also focusing on digital infrastructure, expecting continued consolidation in this sector. With a robust track record, Deutsche Bank aims to provide clients with both local expertise and global execution capabilities to navigate complex cross-border deals.
Apple Inc. focuses on designing, manufacturing, and marketing computer hardware and music support products. Its net sales are primarily driven by telephone products (51.4%), followed by peripheral devices (9.5%), computers (7.7%), music support (6.8%), and other services (24.6%). Geographically, sales are distributed across the Americas (42.7%), China/Hong Kong/Taiwan (17.1%), Japan (6.4%), Asia/Pacific (7.9%), and Europe/India/Middle East/Africa (25.9%).
Crédit Agricole S.A., a leading European banking group and key supporter of the French economy, is set to redeem EUR 1.5 billion in senior notes. The bank's net banking product is diversified across finance, retail banking, asset management, and specialized financial services, with significant operations in France and Europe. By the end of 2024, it managed EUR 868.1 billion in deposits and EUR 548.1 billion in credits.
SoftBank Group Corp. is negotiating a $16.5 billion loan for its AI initiatives in the U.S., marking its largest dollar loan to date. This 12-month bridge loan is still in preliminary discussions with banks and could support SoftBank's $500 billion AI infrastructure project, including a potential investment in OpenAI's $40 billion funding round.
Microsoft has closed its IoT & AI Insider Lab in Shanghai, marking a significant reduction in its operations in China amid rising geopolitical tensions. The lab, operational since May 2019, supported 258 projects and trained nearly 10,000 professionals but has been inactive since early 2024. Despite its long presence, Microsoft's revenue from China represents only 1.5% of its global earnings.
Business sentiment among large Japanese manufacturers has declined for the first time in a year, influenced by concerns over U.S. tariffs under President Trump. The Bank of Japan's quarterly survey revealed a drop in the sentiment index from plus 14 to plus 12, with major manufacturers like Toyota and Nissan particularly affected. Meanwhile, the sentiment for large non-manufacturers improved, reflecting a boost from healthy tourist traffic, as Japan's unemployment rate slightly improved to 2.4%.
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watches and wonders show opens amid concerns over luxury market slowdown
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06:31 01.04.2025
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