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Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
The Reserve Bank of Australia is expected to hold interest rates steady amid concerns over tariffs and recent inflation data, which, while cooler, remains too high for further cuts. The Australian and New Zealand dollars have struggled against G10 currencies, with predictions of further declines, particularly against the US dollar. A cautious tone is anticipated from Governor Michele Bullock as the RBA navigates these uncertainties.
Pernod Ricard, the leading producer of premium wines and spirits, reported that 61.8% of its sales come from strategic international brands, with Absolut and Jameson being top sellers. The company operates 94 production sites globally, with sales distributed across Europe (28.3%), the Americas (28.8%), and other regions (42.9%).
Global renewable energy capacity surged by 585 GW in 2024, marking a record growth rate of 15.1%, yet still falling short of the 11.2 terawatts needed by 2030. Solar and wind dominated the expansion, with solar capacity alone increasing by 32.2%, driven primarily by China and India.IRENA emphasized the urgency for annual additions exceeding 1,120 GW to meet climate goals, while UN Secretary-General Antonio Guterres highlighted the economic and environmental benefits of this transition.
Foxconn will hold a seminar in Japan on April 9 to present its electric vehicle (EV) strategy, targeting local automakers and suppliers. Jun Seki, the company's chief EV strategy officer and a former Nissan executive, is set to speak at the event. This follows Foxconn's recent agreement with Mitsubishi Motors to produce EVs for Oceania, marking its first outsourcing deal with a Japanese automaker and indicating a potential shift in Japan's automotive landscape amid rising competition from Chinese manufacturers like BYD.
Australian VC firm Microequities has acquired a 19% stake in Melbourne-based Global IT Factory, a curriculum management software provider, through its pre-IPO fund. This investment marks the company's first external funding since its inception a decade ago. Global IT Factory, which holds a 22% market share in Australia and New Zealand, plans to utilize the funds for product development and market expansion.
Kiwibank has successfully raised CHF 300 million through two bond tranches managed by UBS. The first tranche of CHF 140 million features a coupon of 0.825% and matures on April 16, 2029, while the second tranche of CHF 160 million offers a coupon of 1.1197% and matures on April 14, 2033. Both tranches will be released on April 16, 2025, and carry an issuer rating of A1/AAA from Moody's and Fitch.
Kiwibank of New Zealand is issuing two covered bonds totaling CHF 300 million, managed by UBS. The first tranche of CHF 140 million has a coupon of 0.8250% and matures on April 16, 2029, while the second tranche of CHF 160 million offers a coupon of 1.1197% and matures on April 14, 2033. Both tranches are rated A1/AAA by Moody's and Fitch.
Citigroup has lowered its price target for Costco Wholesale Corporation to $927 from $1,060 while maintaining a neutral rating. Costco specializes in distributing a wide range of products and services at discount prices through a network of 890 warehouse stores across various countries, with the majority of net sales coming from product sales. As of January 2024, the United States accounts for 72.4% of net sales, followed by Canada at 13.7%.
Norwegian Cruise Line Holdings Ltd. operates globally through its brands, offering diverse itineraries. Institutional investors hold 69.58% of the stock, with recent analyst ratings showing a "Moderate Buy" consensus and a target price of $28.94. Despite strong earnings, shares have fluctuated, opening at $20.09, with a 52-week range of $14.69 to $29.29.
NZL
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huawei reports 28 percent profit drop despite 22 percent revenue surge
15:12 31.03.2025
RBA expected to hold rates amid tariff uncertainties and inflation concerns
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12:19 31.03.2025
Pernod Ricard maintains strong market position in premium wines and spirits
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09:41 31.03.2025
global renewable energy capacity surges by 585 gigawatts in 2024
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10:30 27.03.2025
Foxconn to unveil electric vehicle strategy at Japan seminar
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08:20 27.03.2025
Microequities acquires 19 percent stake in Global IT Factory for growth
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Kiwibank issues CHF 300 million in two bond tranches through UBS
14:00 26.03.2025
Kiwibank issues covered bonds totaling CHF 300 million in two tranches
13:51 26.03.2025
citigroup lowers costco price target while maintaining neutral rating
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10:25 24.03.2025
norwegian cruise line stock ratings and institutional investor activity update
13:18 22.03.2025
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