Japan's Asia Zero Emission Community (AZEC) initiative, aimed at fostering regional decarbonization, has faced criticism for promoting fossil fuel projects, with over one-third of its agreements supporting such technologies. Critics argue that this approach undermines genuine emissions reductions and perpetuates reliance on fossil fuels, despite Japan's commitment to end financing for unabated fossil energy. While some agreements focus on renewable energy, the majority still favor fossil-based solutions, raising concerns about long-term climate impacts in Southeast Asia.
DSV shares surged 7% after raising $5.5 billion for the acquisition of Schenker, boosting its earnings forecast. Recordati gained 4% following its $825 million acquisition of Sanofi's Enjaymo, while Skanska rose 3% after securing multiple contracts in the U.S. Conversely, shipowners Hapag-Lloyd and AP Moller Maersk saw declines of 12% and 6%, respectively, as the end of a U.S. port strike diminished their pricing power.
DSV shares rose by 7% after raising $5.5 billion to finance the acquisition of Schenker, boosting its earnings forecast. Recordati gained 4% following its acquisition of Sanofi's Enjaymo rights, while Skanska and Groupe Pizzorno also saw increases due to new contracts and positive financial results. Conversely, shipowners Hapag-Lloyd and AP Moller Maersk dropped 12% and 6%, respectively, after the end of a US port strike that had previously inflated shipping prices.
In July, small caps outperformed despite tightening presidential race odds, as US short rates rose more than long rates, signaling a potential rate-cutting cycle. Political factors had limited impact on market trends, which were primarily driven by fundamentals and technical conditions, leading to a favorable cyclical outlook supported by strong GDP growth and easing monetary policy. However, increased volatility is expected in August and September, prompting a cautious reduction in equity exposure.
UBS Asset Management anticipates a soft landing for the global economy, favoring U.S. equities and European high-yield bonds in a volatile market. With central banks maintaining accommodative policies and a divided U.S. Congress likely to temper extreme measures, the firm sees potential in commodities like gold and emerging markets, while remaining cautious on European equities due to disappointing economic data.
VPBank and Lotte C&F Vietnam have signed a Memorandum of Understanding to enhance financial services for Lotte customers, focusing on "Buy Now, Pay Later" products. This partnership aims to create innovative financial solutions, including co-branded cards and digital payment options, while expanding VPBank's reach among foreign direct investment clients in Vietnam.
VPBank and LOTTE C&F Vietnam have signed a Memorandum of Understanding to develop innovative financial solutions, including co-branded cards and Buy Now Pay Later services, aimed at enhancing customer experience. This partnership will leverage both companies' technology platforms to deliver specialized digital financial products, supporting the LOTTE Ecosystem and expanding VPBank's market presence in the FDI customer segment.
UBS Asset Management maintains a neutral stance on various asset classes amid signs of slowing growth and inflation. While European high yield offers attractive yields, credit spreads are close to cyclical lows, limiting potential price rises. The firm favors the Japanese yen due to anticipated monetary policy tightening and prefers US Treasuries for their improved hedging capacity.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
