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UBS analysts have again reduced their global growth forecasts, now predicting a slowdown to 2.5% in 2025, down from 2.9%, largely due to the impact of U.S. tariffs under President Trump. U.S. growth estimates for this year have also been cut to 1.5%, with inflation expected to rise sharply in the U.S. but remain stable elsewhere. The ongoing trade war, particularly with China, has intensified, with tariffs reaching up to 145% on Chinese goods, leading to significant economic uncertainty.
Barclays has upgraded CenterPoint Energy (CNP) from Underweight to Equal Weight, raising its price target from $30 to $37. This decision reflects the company's effective management of recent regulatory challenges with political implications, balancing its risk and reward profile ahead of the Q3 financial update.
U.S. retail sales rose by 1.4% in March, surpassing expectations, with a notable 5.3% increase in motor vehicle and parts sales. This marks the strongest growth since January 2023, despite concerns over tariffs and consumer sentiment, which have been declining for four months. The resilience shown in March may be tested as further tariffs are anticipated.
Kuwait is investing nearly $6 billion in infrastructure as part of its economic diversification strategy for the 2025-2026 budget, focusing on transportation, water, and electricity, including the Mubarak Al-Kabeer Port project. This initiative aims to enhance economic growth and strengthen non-oil revenues, despite a projected budget deficit of approximately $20.43 billion. The port, estimated to cost $3.2 billion, will support over 8 million containers and is integral to China's Belt and Road Initiative.
UniCredit SpA has postponed its decision on a €14 billion all-share takeover offer for Banco BPM due to conditions imposed by the Italian government. The decree allows UniCredit to report difficulties in implementing these conditions, which could hinder its decision-making and lead to potential fines. The bank remains committed to supporting SMEs and managing client assets responsibly while reducing its presence in Russia.
UniCredit has expressed concerns that the Italian government's conditions for its €13 billion bid for Banco BPM could impair its decision-making ability, potentially halting the offer. Despite the strategic fit, CEO Andrea Orcel indicated he might withdraw if financial metrics are not met. Meanwhile, Banco BPM's shares fell 2%, while Commerzbank's shares rose amid ongoing takeover discussions.
The Government Council of the Canton of Lucerne has approved a new owner strategy for Luzerner Kantonalbank (LUKB) for 2025, emphasizing risk policy, liquidity, and security. The bank's capital ratio exceeds 19%, ensuring compliance with FINMA requirements. Additionally, the strategy includes stricter salary restrictions for the Executive Board and incorporates sustainability aspects to address recent social and regulatory changes.
Nvidia's stock fell nearly 5% following reports of Huawei mass shipping its advanced 910C AI chip in China, a market Nvidia is barred from competing in due to U.S. export restrictions. Bernstein analyst Stacy Rasgon emphasized that Nvidia's inability to sell top-tier chips like the A100 and H100 has effectively handed the Chinese AI market to Huawei. Despite a 29.93% drop in stock value this year, Nvidia remains up 21.87% over the past 12 months.
Ministerial-level trade talks between Thailand and the US, scheduled for April 23, 2025, have been postponed, with further details to be provided by Deputy Prime Minister Pichai Chunhavajira on April 22. The delay comes amid rising tensions over a significant trade imbalance, as Thailand's surplus with the US surged to $45.6 billion in 2024, prompting concerns over potential tariffs that could impact economic growth and export-dependent sectors.
Economic sentiment in Taiwan has sharply declined due to concerns over potential US tariffs, with the current economy index dropping to minus-44.5 and consumer sentiment weakening significantly. Inflation expectations have risen, with 70% anticipating rates above 2%, reflecting a disconnect between government positions and public confidence. The National Development Council warns that Taiwan's GDP growth could be reduced from 3.14% to 1.53% as trade tensions escalate.
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ubs cuts global growth forecasts amid escalating trump tariffs
12:02 22.04.2025
barclays upgrades centerpoint energy with higher price target amid regulatory success
12:01 22.04.2025
US retail sales rise 1.4 percent in March amid economic uncertainty
12:00 22.04.2025
kuwait invests six billion dollars in infrastructure to diversify economy
11:48 22.04.2025
unicredit delays banco bpm takeover decision amid government conditions
11:15 22.04.2025
uniCredit raises concerns over government conditions for banco bpm bid
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08:54 22.04.2025
Lucerne government approves new owner strategy for Luzerner Kantonalbank
08:40 22.04.2025
nvidia stock drops as huawei prepares to dominate china's ai chip market
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07:11 22.04.2025
Thailand and US postpone trade talks amid tariff concerns
05:06 22.04.2025
Taiwan's economic confidence plummets amid US tariff concerns and inflation fears
04:15 22.04.2025
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