location where people regularly gather for the purchase and sale of provisions, livestock, and other goods
Exclusive: Tesla scraps low-cost car plans amid fierce Chinese EV competition: EXCLUSIVE-TESLA CANCELS LOW-COST CAR PLANS-SOURCES
reut.rs/49oRm4S
Quick Glance: Tesla scraps plans for low-cost car amidst fierce Chinese EV competition
- Tesla has canceled the promised inexpensive car and will focus on self-driving taxis instead
- The shift in strategy comes as Tesla faces competition from Chinese EV makers, including BYD
- Elon Musk's vision of affordable electric cars for the masses has been abandoned in favor of robotaxis
- The decision reflects Tesla's efforts to stay competitive in a challenging market environment
iPhone sales are plunging. Here’s why: Apple’s smartphone sales tumbled 10% last quarter, according to market research firm IDC, as sales in China fell sharply.
cnn.com/2024/04/15/tech/iphone-sales-plunging/
Quick Glance: iPhone sales plummet. Here's why
- Apple’s smartphone sales dropped by 10% last quarter, primarily due to a sharp decline in sales in China.
- Samsung had been the top smartphone manufacturer for 12 years, but Apple briefly took the top spot last year.
- The global smartphone market is showing signs of recovery with a 7.8% increase in smartphone shipments in the first quarter of 2024.
- Despite expectations for Apple and Samsung to maintain their market dominance, the rise of Huawei and other Chinese manufacturers like Xiaomi and OPPO/OnePlus may continue.
Apple loses top phonemaker spot to Samsung as iPhone shipments drop, IDC says: Apple's smartphone shipments dropped about 10% in the first quarter of 2024 ...
reuters.com/technology/apple-loses-top-phonemaker-spot-samsung-iphone-shipments-drop-idc-says-2024-04-15/
Bitcoin’s latest ‘halving’ has arrived and here’s what you need to know: Bitcoin holding steady at about $63,907 after ‘halving’
theglobeandmail.com/world/article-bitcoins-latest-halving-has-arrived-and-heres-what-you-need-to-know/
Quick Glance: Bitcoin 'Halving' Completed, CoinGecko Reports
- Bitcoin, the world's largest cryptocurrency, completed its 'halving' on Friday, a phenomenon that occurs roughly every four years according to CoinGecko.
- Following the 'halving', Bitcoin remained relatively stable, dropping by 0.47% to $63,747.
- The 'halving' was integrated into Bitcoin's code at its inception to reduce the rate of new Bitcoins being created.
- Experts are divided on whether the upcoming 'halving' will boost Bitcoin's price, with some viewing it as already factored in, while others remain skeptical.
There is a lack of staff at Germany's weekly markets: Weekly markets are not only a place for regional produce, but also a meeting place ...
tagesschau.de/wirtschaft/arbeitsmarkt/wochenmaerkte-handel-personal-100.html
TSMC's first quarter profit rises 9%, beats forecasts: TSMC , the world's largest chipmaker and a major Apple and Nvidia supplier, forecast second-quarter sales ...
reuters.com/technology/tsmc-set-report-5-rise-first-quarter-profit-strong-ai-chip-demand-2024-04-18/
Donald Trump's media company falls 12%, extends selloff: Shares of Donald Trump's media and technology firm fell as much as 12% on Monday ...
reuters.com/business/media-telecom/donald-trumps-media-company-falls-12-extends-selloff-2024-04-08/
China’s growing love of luxury watches remains strong, despite economic headwinds
cnn.com/2024/04/19/style/china-luxury-watches/
US weekly jobless claims remain at low level: The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week ...
reuters.com/world/us/us-weekly-jobless-claims-unchanged-low-levels-2024-04-18/
Elon Musk is heading to India. He could deliver a big win for Tesla and Narendra Modi
cnn.com/2024/04/19/cars/india-elon-musk-visit-investment-intl-hnk/
China to Stop Displaying Real-Time Data for Foreign Flows Into Stocks: China will soon cease displaying real-time data for flows into the world’s second-largest ...
bloomberg.com/news/articles/2024-04-15/china-to-end-live-feed-on-gauge-of-foreign-flows-into-stocks
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Germany says Europe is open to Chinese cars but not at any price: German Chancellor Olaf Scholz pressed his case on Monday for an open and fair European market ...
cnn.com/2024/04/15/business/china-germany-chancellor-cars-overcapacity-hnk-intl/
Exclusive: Abu Dhabi Islamic Bank in talks to buy $1.1 bln stake in Indonesian lender, sources say
reuters.com/markets/deals/abu-dhabis-largest-islamic-bank-talks-buy-11-bln-stake-indonesian-lender-sources-2024-04-17/
Exclusive: Tesla scraps low-cost car plans amid fierce Chinese EV competition: Tesla has canceled the long-promised inexpensive car that investors have been ...
reuters.com/business/autos-transportation/tesla-scraps-low-cost-car-plans-amid-fierce-chinese-ev-competition-2024-04-05/
Quick Glance: Elon Musk to Unveil Tesla 'Robotaxi' on August 8
- Elon Musk announced that Tesla will unveil its robotaxi on August 8, despite past promises and delays with self-driving cars.
- Musk plans to develop a car without controls for human use and gradually enhance Tesla vehicles with Full Self-Driving capability.
- Currently, buyers can add the Full Self-Driving feature for an additional cost, but experts note that the system is not fully autonomous yet.
- Other companies like Waymo and Cruise are also working on autonomous ride-sharing services, despite safety concerns and incidents.
Futures recover from Wall St selloff ahead of payrolls test: U.S. stocks finished higher on Friday after a strong jobs report reinforced the view that the ...
reuters.com/markets/us/futures-recover-wall-st-selloff-ahead-payrolls-test-2024-04-05/
Focus: Czech arms maker CSG chief eyes place on global stage: Michal Strnad, who a decade ago became head of CSG, a family defence business ...
reuters.com/business/aerospace-defense/czech-arms-maker-csg-chief-eyes-place-global-stage-2024-04-14/
Despite $90 crude, US oil output capped by weak natgas prices: U.S. crude oil prices last week climbed to their highest this year, but a weak natural gas market ...
reuters.com/business/energy/despite-90-crude-us-oil-output-capped-by-weak-natgas-prices-2024-04-08/
Attack on Christmas market: 30 years in prison for the attacker's helpers: Because he provided the assassin with weapons, a 42-year-old now has to go to prison ...
tagesschau.de/ausland/europa/strassburg-attentat-helfer-haft-100.html
It's almost time - the Spring Festival build-up is entering the home straight! 🎡😍 On Friday it's already "O'zapft is!". All information ... Show more www.muenchen.de/veranstaltungen/feste-festivals/fruehlingsfest-muenchen-2024
UK recruiters report slowest growth in starting pay in over 3 years: Starting salaries for permanent staff grew at the slowest rate in over three years last ...
reuters.com/world/uk/uk-recruiters-report-slowest-growth-starting-pay-over-3-years-2024-04-07/
Ohio senator wants Biden to permanently ban Chinese EVs from US: The chair of the Senate Banking Committee on Thursday urged President Joe Biden to block ...
reuters.com/business/autos-transportation/ohio-senator-wants-biden-permanently-ban-chinese-evs-us-2024-04-11/
US employers hired far more workers than expected in March and continued to lift wages at a steady clip, suggesting the economy ended the first quarter on ... Show more www.reuters.com/markets/us/us-job-growth-beats-expectations-march-wages-increase-steadily-2024-04-05/
Spring Festival 2024 is underway! 🎡
The first big folk festival on Munich's Theresienwiese runs from April 19th. until May 5, 2024. Two festival tents ... Show more #frühlingsfestmünchen #theresienwiese #münchenliebe #riesenflohmarkt
Samsung flags 10-fold rise in first-quarter profit as chip prices recover: Samsung Electronics estimated on Friday its first-quarter operating profit would rise ...
reuters.com/technology/samsung-flags-931-rise-first-quarter-profit-chip-prices-recover-2024-04-04/
Quick Glance: Samsung forecasts 10-fold profit surge, marking the end of chip downturn
- Samsung expects a 10-fold increase in operating profit in the first quarter as memory chip prices recover strongly after last year's industry downturn.
- Revenue rose by 11.4 percent to Won71tn in the first quarter compared to the previous year, while operating profit surged by 931 percent to Won6.6tn.
- Analysts predict Samsung's chip division will achieve an operating profit of approximately Won900bn in the first quarter, compared to an operating loss of Won2.2tn in the December quarter.
- Samsung's strong earnings have also been driven by robust sales of its latest AI-driven smartphones, allowing the company to regain the top spot in global smartphone sales in February.
EV maker Lucid beats first-quarter delivery estimates as price cuts boost demand: Lucid reported first-quarter deliveries above market expectations on Tuesday as ...
reuters.com/business/autos-transportation/ev-maker-lucid-beats-first-quarter-delivery-estimates-2024-04-09/
Qatar leads Gulf markets higher; Kuwait slips: The Qatar stock market ended higher on Sunday, boosted by gains in communications, energy and finance stocks ...
reuters.com/world/middle-east/qatar-leads-gulf-markets-higher-kuwait-slips-2024-04-07/
Christiania: A Copenhagen hippy commune fights back against drug gangs: Locals start digging up a Copenhagen street as part of a bid to tackle drug-related crime ...
bbc.com/news/world-europe-68740282
Quick Glance: Christiania's Transformation: Ending Illegal Drug Market
- Residents of Christiania in Copenhagen aim to remove Pusher Street after decades of illegal drug trade to make way for renovations.
- The Justice Minister sees the action as symbolically significant, emphasizing the residents' desire to create a new Christiania without a criminal drug market.
- Having long battled authorities, residents now have the opportunity to control and renovate their land to modernize the hippie oasis.
- The community hopes that by dismantling the street and renovating, the illegal drug trade will cease, allowing Christiania to remain a legal and alternative part of Copenhagen.
Apple supplier Foxconn sees growth in Q2 after dip in Q1 revenue: Taiwan's Foxconn , the world's largest contract electronics maker and the biggest assembler of ...
reuters.com/technology/foxconn-q1-revenue-drops-96-yy-sees-growth-q2-2024-04-05/
France: Strasbourg attack suspect jailed for 30 years: An accomplice of the 2018 Strasbourg Christmas market attack was sentenced for supplying the main ...
dw.com/en/france-strasbourg-attack-suspect-jailed-for-30-years/a-68741091
Exciting festive news just in - the Christmas market is returning to Southampton this year! 🎄🎅
Organisers S&D Leisure promise it will be bigger than in ... Show more www.dailyecho.co.uk/news/24252166.southampton-christmas-market-2024-confirmed-expect/
Volkswagen EVs 'can't keep up' in China, CEO tells newspaper: Volkswagen wants to avoid setting
reuters.com/business/autos-transportation/volkswagen-evs-cant-keep-up-china-ceo-tells-newspaper-2024-04-05/
China EV maker Nio urges openness in US speech amid tensions: Chinese electric vehicle (EV) maker Nio's founder called for openness in a rare speech in the ...
reuters.com/business/autos-transportation/china-ev-maker-nio-urges-openness-us-speech-amid-tensions-2024-04-14/
Grave robbers tap 'alien' fascination with Peru's ancient mummies: Leandro Rivera says he chanced upon the cave in Peru's remote Nazca region that contained ...
reuters.com/world/americas/alien-fever-dreams-fuel-peruvian-grave-robbings-2024-04-06/
UK house prices fall for first time in six months: Prices fell in March with higher mortgage rates affecting affordability, the Halifax says
bbc.com/news/articles/cz9zle1973xo
US layoffs reach 14-month high amid government, tech cutbacks: U.S. layoff announcements rose 7% in March to the highest since January 2023 ...
reuters.com/markets/us/us-layoffs-reach-14-month-high-amid-government-tech-cutbacks-2024-04-04/
US existing home sales drop in March; median price increases: U.S. existing home sales fell in March as higher interest rates and house prices sidelined buyers ...
reuters.com/world/us/us-existing-home-sales-drop-march-median-price-increases-2024-04-18/
Quick Glance: Mortgage Rates Surge Above 7% in 2024, Posing Major Dilemma for Homebuyers
- US mortgage rates have surged above 7%, increasing costs for homebuyers.
- The rise in mortgage rates impacts monthly costs, limiting purchasing power.
- Uncertainty surrounding rate trends poses a decision dilemma for potential homebuyers.
- Experts anticipate a moderate easing of mortgage rates later in the year.
Chinese President Xi Jinping said German Chinese cooperation was an opportunity, not a risk, even as German Chancellor Olaf Scholz urged better market access ... Show more reut.rs/4aCEcm4
Quick Glance: Scholz Organizes Crisis Diplomacy in China
- Scholz condemns Iran's attacks on Israel and plans crisis communication with G7 partners.
- China trip focusing on economy and geopolitical role, despite dilemma in relations.
- Business delegation accompanies Scholz, de-risking in other countries, export wave heading towards Germany.
- Scholz aims to influence China regarding Ukraine conflict and Iran crisis, despite existing dependencies.
ESG: Unilever Scales Back Sustainability Goals: CEO Hein Schumacher is scaling back some commitments on plastics and diversity against a backdrop of wider ...
bloomberg.com/news/features/2024-04-19/esg-unilever-scales-back-sustainability-goals
Norway's trillion dollar wealth fund posts 107 billion dollar first quarter gain: Norway's sovereign wealth fund, the world's largest, posted a gain of ...
thelocal.no/20240418/norways-trillion-dollar-wealth-fund-posts-107-billion-dollar-first-quarter-gain
India's Biocon developing its own version of Wegovy, clinical trial likely next year
reuters.com/business/healthcare-pharmaceuticals/indias-biocon-developing-its-own-version-wegovy-clinical-trial-likely-next-year-2024-04-18/
Quick Glance: Biocon Developing Own Version of Wegovy, Plans Clinical Trial
- Indian pharmaceutical company Biocon is working on developing its own version of Novo Nordisk's popular Wegovy and is likely to conduct a clinical trial next year to enter the growing weight-loss drug market.
- Biocon's CEO, Siddharth Mittal, has expressed the company's intention to develop semaglutide, the active ingredient in Wegovy, for the Indian market, even if it requires a clinical trial.
- Biocon aims to introduce generic versions of weight-loss drugs in emerging markets such as Brazil, Mexico, and Saudi Arabia before the patent for semaglutide expires in those countries in 2026.
- The company is striving to obtain a waiver on clinical trials from Indian regulators and submit bioequivalence studies to demonstrate the effectiveness of their version of semaglutide. Biocon is making significant investments in generics research and development, including peptides for weight-loss drugs.
India discussed oil market volatility with OPEC chief, government says: India, the world's third biggest oil importer and consumer, discussed recent trends and ...
reuters.com/markets/commodities/india-discussed-oil-market-volatility-with-opec-chief-government-says-2024-04-19/
Royal Mail owner rebuffs bid from Czech billionaire Kretinsky: Czech billionaire Daniel Kretinsky made a non-binding bid to acquire the owner of the UK's Royal ...
reut.rs/3W66j8T
Your morning coffee may be hundreds of thousands of years old: Using genes from coffee plants around the world, researchers built a family tree for the world’s ...
cleveland.com/entertainment/2024/04/your-morning-coffee-may-be-hundreds-of-thousands-of-years-old.html
Quick Glance: Coffee Origins Revealed: Genome Study Uncovers Ethiopian Roots
- Researchers unlocked the genome of Arabica coffee species, tracing its origins to a natural mating over 600,000 years ago in Ethiopia.
- The study revealed Arabica's low genetic diversity and susceptibility to pests and diseases, limiting its cultivation locations.
- The findings could lead to new breeding approaches in coffee to develop varieties with enhanced resistance to diseases and climate changes.
- Arabica formed as a natural hybridization between parent species Coffea canephora and Coffea eugenioides, mainly used for global coffee production.
These ten sights in Hanover can be discovered in one day: Strolling in the mountain garden, strolling through the flea market or being spooked on the crime ...
haz.de/lokales/hannover/diese-zehn-sehenswuerdigkeiten-in-hannover-lassen-sich-an-einem-tag-entdecken-XJECZPK735CXVJVKGKCLNYUIVI.html
Worsening US debt outlook seen more in gold and bitcoin than in bonds: Concern about the rapidly rising U.S. government debt is partly behind recent surges in ...
reuters.com/markets/us/worsening-us-debt-outlook-seen-more-gold-bitcoin-than-bonds-2024-04-19/
Microsoft-OpenAI deal set to dodge formal EU merger probe, sources say: EU antitrust regulators have concluded that Microsoft's $13 billion investment into ...
reuters.com/technology/microsofts-13-bln-openai-deal-avoid-formal-eu-probe-bloomberg-news-reports-2024-04-17/
Vestager defends EU merger rules, says competition creates strong companies: EU antitrust chief Margrethe Vestager on Thursday rejected calls for a shake up of ...
reuters.com/markets/europe/vestager-defends-eu-merger-rules-says-competition-creates-strong-companies-2024-04-18/
China set to keep lending benchmark LPRs unchanged in April: China is widely expected to leave benchmark lending rates unchanged on Monday ...
reuters.com/world/china/china-set-keep-lending-benchmark-lprs-unchanged-april-2024-04-19/
Oil prices fell on Monday as market participants downplayed the risk of broader regional conflagration after Iran's weekend attack on Israel www.reuters.com/markets/commodities/oil-prices-fall-after-iran-attack-market-draws-down-risk-premium-2024-04-15/
Quick Glance: Oil Prices Could Witness a 'Super Spike Well Above $100' Post Iran's Strike on Israel
- Market analysts predicted that oil prices could surge to $100 per barrel and beyond after Iran conducted an aerial attack on Israel, reigniting concerns of a regional war.
- Iran carried out an aerial attack on Israel on Saturday night, launching over 300 drones and missiles, marking the first direct military attack by Iran on the Jewish state.
- Insufficient investment renders the supply more fragile, raising the likelihood of a 'super spike well above $100' if the supply is disrupted.
- Recent months have seen oil prices rise due to trade disruptions and delays caused by maritime attacks in the Red Sea by the Houthis, who express solidarity with the Palestinian people.
One Year On, Sudan’s Civil War Is a ‘Forgotten Crisis’: International donors have committed almost 1,000 times as much aid to Kyiv as they have to Sudan
bloomberg.com/news/features/2024-04-15/one-year-on-sudan-s-civil-war-is-a-forgotten-crisis
Paid articlePaid Exclusive: JDE Peet's sees coffee industry struggling to meet EU deforestation law
reuters.com/sustainability/jde-peets-sees-coffee-industry-struggling-meet-eu-deforestation-law-2024-04-18/
Carbon price fall deprives Europe's green funds of billions: A drop in the European Union's carbon price this year could mean that a fund intended to be among ...
reuters.com/business/energy/carbon-price-fall-deprives-europes-green-funds-billions-2024-04-18/
EU leaders to hear shake-up needed to match global rivals: European Union leaders will hear on Thursday how the bloc could act to catch up to the United States ...
reuters.com/technology/eu-leaders-hear-shake-up-needed-match-global-rivals-2024-04-18/
Flea markets in MV: When and where will there be treasures at a low price in 2024?
nordkurier.de/regional/mecklenburg-vorpommern/flohmaerkte-in-mv-wann-und-wo-gibt-es-2024-schaetze-zum-kleinen-preis-2432426
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Asparagus report discovered years later as an April Fool's joke: 'Asparagus pee with a strawberry smell' was the name of the report published by the Federal ...
stimme.de/ueberregional/panorama/nachrichten/erdbeeren-spargel-bundeszentrum-ernaehrung-aprilscherz-gelogen-studien-ergebnisse-falsch-art-4911248
In 2024, up to 450 vendors will continue to trade with flea market visitors almost every Friday and Saturday on an area of 35 ... Show more #flohmarktinmünchen #olympiapark #parkharfe
Moers: Medieval market at Lauersfort Castle - all information: Experience has shown that the knight tournaments in Lauersfort Castle are very popular (archive ...
nrz.de/staedte/moers-und-umland/article242135702/Moers-Mittelaltermarkt-am-Schloss-Lauersfort-alle-Infos.html
BAVERN looking at prospects - nationnews.com: Some vendors in the city are hoping to get their share of the spoils as Bridgetown Market is moved from the Mighty ...
nationnews.com/2024/04/19/bavern-looking-at-prospects/
IMF urges Bank of Japan to tread cautiously in raising interest rates: The Bank of Japan (BOJ) must tread cautiously in raising interest rates ...
reuters.com/markets/asia/imf-urges-bank-japan-tread-cautiously-raising-interest-rates-2024-04-19/
US, Japan, Korea finance leaders agree to consult on foreign exchange, market developments
reut.rs/3W3Hbj3
Ping An Trust delays repayment, citing China property market woes: A subsidiary of China's Ping An Insurance failed to repay a roughly $107 million trust product ...
reuters.com/world/china/ping-an-trust-delays-repayment-citing-china-property-market-woes-2024-04-11/
Marijuana was fully legalised in California in 2016 following a public vote, in a move that proponents said would bring an end to a huge black market and the ... Show more #afp #marijuana #california #legalisation
Sunday shopping in Hanover: The program for April 28th: Open shops and a lot of program: The motto of the first shopping Sunday of the year on April 28th is ...
haz.de/lokales/hannover/verkaufsoffener-sonntag-in-hannover-das-programm-fuer-den-28-april-PMQSIDNYYJFFRIP3VR4QQLBWGE.html
Paid articlePaid Ample oil supplies limit impact of MidEast flare-up on prices: Plentiful supplies of some of the biggest crude grades are limiting the impact on benchmark oil ...
reuters.com/markets/commodities/ample-oil-supplies-limit-impact-mideast-flare-up-prices-2024-04-19/
Flea market with a special ambience in Gyhum-Hesedorf: The flea market in Hesedorf attracts visitors on Sundays with a wide range of offerings and a special ...
zevener-zeitung.de/Zeven/Flohmarkt-mit-besonderem-Ambiente-in-Gyhum-Hesedorf-204714.html
Paid articlePaid Morgan Stanley consumer IPO banker Passi leaving the bank, sources say: Morgan Stanley's North America head of consumer and retail equity capital markets (ECM) ...
reuters.com/business/finance/morgan-stanley-consumer-ipo-banker-passi-leaving-bank-sources-say-2024-04-19/
After Kicking Off Mutual-Fund Era in 1924, MFS Plans ETF Foray: After launching the world’s first mutual fund 100 years ago, MFS Investment Management is poised ...
trib.al/Ecue4Cg
These are the weekend dates: Whether a stroll through the flea market, art in the cultural workshop or a trip to the young plant market: there is a diverse ...
dzonline.de/duelmen/das-sind-die-termine-am-wochenende-2960325
Construction work instead of music: This is what continues for Mauerpark: Currently more of an excavation site than a cultural site: politicians and friends of ...
morgenpost.de/bezirke/pankow/article242132096/Bauarbeiten-statt-Musik-So-geht-es-fuer-den-Mauerpark-weiter.html
Paid articlePaid
Dealer frustration: Will Wolfach's weekly market remain in the castle courtyard in the long term?
bo.de/lokales/kinzigtal/handler-frust-bleibt-wolfachs-wochenmarkt-auf-dauer-im-schlosshof
Sibling Gin returns to Stroud Farmers' Market: Iconic Sibling Gin returns to Stroud Farmers' Market
stroudnewsandjournal.co.uk/news/24263329.sibling-gin-returns-stroud-farmers-market/
South Korea to take decisive action if needed to stabilise FX market: South Korea's finance ministry said on Friday that authorities would take immediate and ...
reuters.com/markets/asia/south-korea-finmin-take-immediate-decisive-response-fx-volatility-2024-04-19/
Abu Dhabi's TAQA reportedly in talks to take over Spain's energy company Naturgy: Abu Dhabi's TAQA is in talks with the three largest shareholders in Naturgy ...
reuters.com/markets/deals/abu-dhabis-adnoc-talks-take-over-spains-energy-company-naturgy-report-2024-04-16/
Fed should not act urgently to cut rates unless required, Daly says: There is "no urgency" to cut U.S. interest rates, Mary Daly, the president of the San ...
reut.rs/3VYkGMo
Vincent Boland: If AI does advance to outsmart us humans, we need to be ready: With the possible exception of inflation, AI is the number one factor driving ...
businesspost.ie/analysis-opinion/vincent-boland-if-ai-does-advance-to-outsmart-us-humans-we-need-to-be-ready/
Paid articlePaid
New weekend farmers market opens in Sacramento with over 40 vendors. Here’s where
sacbee.com/news/local/article287731820.html
Prysmian finds sparky US fix for dim cable outlook: Cable maker Prysmian is once again in expansion mode. Six years after swooping on General Cable ...
reuters.com/breakingviews/prysmian-finds-sparky-us-fix-dim-cable-outlook-2024-04-15/
Quick Glance: Prysmian Discovers Vibrant US Solution for Gloomy Cable Outlook
- Italian cable maker Prysmian is once again in expansion mode, having agreed to acquire smaller U.S. rival Encore Wire for about $4.2 billion.
- While the purchase price is steep, the stronger presence in the more attractive North American market is expected to inject vitality into the slightly dimmer cable sector outlook.
- Prysmian expects the acquisition to result in annual savings of around 140 million euros, contributing significantly to an increase in EBITDA.
- Expanding into the U.S. could help Prysmian reignite its electrification journey, given the less fragmented market compared to Europe and the need for upgrades in the outdated U.S. distribution grids.
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