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Vision Marine signs non-binding reverse takeover deal with unmanned systems firm
Aiming to shift into autonomous systems, Vision Marine Technologies will merge with an undisclosed private company in a deal requiring $25 million in financing and $100 million in purchase orders by 2027.
nVent to buy Maverick Power for $1.75 billion in data center push
Deal expands nVent’s power infrastructure portfolio with low- and medium-voltage switchgear for data centers. Financing includes bridge loan from Bank of America.
Germany adds six banks to EU crypto licensing register under MiCA
German cooperative banks lead EU-wide crypto licensing with 79 authorized providers after latest ESMA register update. France and Netherlands follow with 35 and 29 CASPs respectively.
Xiaomi unveils three XRING AI chips to bolster ecosystem
New chips target smartphones, EVs and robotics with edge AI and 3nm ADAS capabilities. Goldman Sachs highlights premiumization and cost benefits.
German logistics tycoon Klaus-Michael Kuehne dies at 89
Founder of Kuehne + Nagel, one of Germany's wealthiest investors, transformed the company into a global logistics leader before stepping back in 2011.
Hedge funds cut equity exposure at fastest pace in two months
Goldman Sachs Prime Services desk reduced global stock bets at a 2.3 standard-deviation pace, led by technology liquidations, while energy was the sole net buyer.
Eli Lilly's weight-loss pill Foundayo launches in UK, priced at £100-120
The oral GLP-1 treatment, orforglipron, is the second weight-loss pill in the UK after Novo Nordisk's Wegovy. It is available via private prescription while awaiting NHS and EU assessments.
Exxon to automate half of Permian drilling fleet by 2028 in output push
Oil major targets 2.5 million boepd in Permian by 2030 as robotic rigs cut costs and injuries. Automated fleet expansion follows early success with two robotic rigs.
Michael Burry exits Alibaba for JD.com amid valuation shifts
Burry's full exit from Alibaba follows a $10.2 billion share placement at an 8.4% discount, while JD.com trades at a lower multiple and higher free-cash-flow yield. Analysts project divergent margin trajectories through 2030.
Siegfried shares fall 5.3% after UBS downgrade to Neutral
Swiss drugmaker’s stock drops to CHF 76 after UBS cuts rating and price target, citing slower-than-expected US business ramp-up and back-loaded 2026 growth concerns.
Volkswagen faces pivotal restructuring amid cost cuts and capacity reviews
CEO Oliver Blume seeks to slash costs, reduce models and lift margins to 8-10% by 2030 as worker and political resistance mounts. Key German plants and jobs at risk.
DAX holds above 26,000 as investors await Nvidia and Fed cues
German blue-chip index steadies near 26,134 points after Friday’s rebound, but faces resistance toward record highs amid key macro and earnings events this week. Semiconductor and auto shares lag while materials gain.
Nucor shares rise 2.6% on US-Canada steel tariff deal
Nucor surged in pre-market trading after a tentative deal between the U.S. and Canada proposed lowering tariffs on Canadian steel and aluminum exports to 25%.
Inwit shares rise 1.7% after Barclays upgrade to above average
Barclays upgraded Inwit to above average, citing excessive pessimism in contract renewal assumptions. Cellnex also upgraded as European tower stocks rebound.
EUR/USD hits 1.1700, highest since May, as dollar weakens
Euro gains ground on improving eurozone data and US Treasury bond buyback expansion, while technical levels suggest limited upside ahead of key US economic releases this week.
European stocks flat as investors weigh Iran risks, Fed cues
EuroStoxx 50 and SMI dip 0.1% each while FTSE 100 rises 0.2% as geopolitical tensions and key economic events loom. Nvidia earnings and Jackson Hole meeting in focus.
Coca-Cola Icecek shares drop 3.9% after customs fine and assessment
The Turkish unit of Coca-Cola saw its stock fall to ₺80 after a combined customs fine and assessment totaling 2.8 billion lira, while JPMorgan downgraded the shares to Neutral.
Citizens keeps Tesla at Market Perform after Nevada robotaxi approvals
Analyst Andrew Boone maintained a neutral rating on Tesla despite Nevada granting commercial robotaxi permits for up to 5,000 vehicles. GLJ Research reiterated a Sell call citing weak margins and cash burn.
UK growth outlook steady despite inflation uptick, Barclays says
Flash PMI data signals resilient activity in August, but inflation pressures and fiscal slippage weigh on outlook. Barclays lifts 2027 inflation forecast.
UK growth holds despite inflation pressures, Barclays says
Composite PMI rises to 52.5 in August as services lead; Barclays lifts 2027 inflation forecast to 2.5%.
Logistics tycoon Klaus-Michael Kühne dies at 89
Kühne+Nagel founder and majority shareholder Klaus-Michael Kühne dies; fortune to pass to Kühne Foundation. Former Lufthansa and Hapag-Lloyd investor.
UBS sees Swiss rents rising despite record-low reference rate
Swiss mortgage reference rate to stay at 1.25% through 2027, but new rental contracts remain 15% higher than five years ago as supply tightens.
Ray Dalio urges 15% gold allocation as US debt policy sparks dollar, yield fears
Gold hits three-month high above $4,640/oz as Treasury yields fall and dollar weakens on surprise U.S. debt-buyback expansion. Dalio flags debt crisis hedge.
Logistics billionaire Klaus-Michael Kühne dies at 89
Kühne+Nagel founder and majority shareholder Klaus-Michael Kühne dies after brief illness. His fortune is expected to transfer to the Kühne Foundation.