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DHL exceeds Q3 profit expectations thanks to pricing and cost control
DHL, the German logistics giant, reported on Thursday a higher-than-expected third quarter operating profit. Price adjustments and structural cost reductions helped DHL cope with an unstable economic environment. It reported quarterly earnings of 1.5 billion euro ($1.8 billion), exceeding analysts' expectations of 1.28 billion euro in a company provided consensus. DHL, the company that delivers worldwide packages and runs German postal services via Deutsche Post, has confirmed its financial forecasts for 2025, but stated the subdued macroeconomic climate would continue to impact the results. DHL stated that the guidance did not take into account any further possible escalation of tariffs or trade policy. The new import regulations, which have been in effect since August, for low-value shipments to the U.S. had had a minimal impact on earnings so far. The quarter's revenue fell 2.3%, to 20.1 billion Euros, in line with the market expectation, due to currency exchange rates and lower volume on routes to America. European logistics and shipping firms are facing a difficult economic climate marked by declining freight rates, weaker demands and a number of trade disruptions. This includes a raft tariffs imposed on U.S. President Donald Trump. As a result of these pressures, many companies have taken cost-cutting steps, such as job cuts, and revised financial forecasts in order to reflect the more difficult operating conditions.
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Wall Street Journal, November 6,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. - Due to the U.S. Government shutdown, the Federal Aviation Administration has ordered a 10% reduction of airline traffic in 40 major airports. The UK's Intermediate Capital Group has advanced discussions to sell Singapore’s PSB Academy for almost $382.5million to Sun Venture. Cathay Pacific is buying back Qatar Airways' 9.5% stake for $6.97 billion Hong Kong Dollars ($896.5 Million). Pfizer will sweeten their offer for Metsera again, the weight loss drug startup that is at the heart of a bidding battle with Novo Nordisk. Snap's share price rose by 25% after the announcement of a deal that will integrate Perplexity AI into Snapchat Chat's interface by early 2026. CoreWeave CEO Michael Intrator dismissed fears about an AI infrastructure boom, citing the potential for economic acceleration.
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Aeromexico, backed by Apollo, raises $223 million at the long-awaited US IPO
The long-awaited U.S. IPO of Grupo Aeromexico, backed by Apollo, raised $222.8 millions on Wednesday. This marks the start of the Mexican airline's return to the public markets nearly four years after its exit from bankruptcy. Stock market valuations have reached record highs due to optimism around artificial intelligence, falling interest rates and Washington's political gridlock following U.S. Tariffs. Aeromexico, along with some of its shareholders, sold 11,7 million American Depositary Shares for $19 per share. This was within the range of $18-$20. Aeromexico's IPO value was $2.77 billion, ahead of its debut Thursday on the New York Stock Exchange. It will trade under the ticker "AERO". The company, backed by U.S. airline Delta and alternative asset manager Apollo Global, filed its first public application for an American listing last year before putting it on hold. In February, CEO Andres Conesa canceled plans to list the company when tariffs were imposed by President Donald Trump on Canada and Mexico. The Trump administration is pursuing a crackdown on Mexican airlines, citing issues of competition. Trump's Department of Transportation revoked the approval of several routes for Mexican carriers to enter the U.S. They also launched a campaign against the joint venture between Delta and Aeromexico that allowed the carriers to coordinate the scheduling, pricing, and capacity of U.S. - Mexico flights. Aeromexico, a legacy airline, had been listed on Mexico's principal stock exchange for many years before it was delisted as part of Chapter 11 bankruptcy procedures, which ended in 2022. Barclays is the leading book-running manager, followed by Morgan Stanley, J.P. Morgan, and Evercore. Reporting by Ateev Bhhandari in Bengaluru and Abu Sultan; editing by Alan Barona and Harikrishnan Nair.
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MSCI adds Paytm and 3 other Indian companies to its flagship global index
MSCI, the index provider, announced late Wednesday that it will include four India-listed firms, including Fortis Healthcare, Paytm and fintech company Paytm, in its Global Standard Indexes, as part of a quarterly review, effective November 24. Siemens Energy India and GE Vernova T&D India, two power companies, are also joining the index. Nuvama estimates that the inclusion of four Indian stocks into MSCI's Global Standard Indexes will attract a total of $1.46 billion in inflows. MSCI indexes are key benchmarks used by global investors. They manage approximately $18,3 trillion in assets. Even small changes in the index composition can have a significant impact on fund flows. Index provider also plans to remove IT company Tata Elxsi from its flagship index and logistics company Container Corporation of India, causing outflows of approximately $162 million each. Eight Indian stocks will also see an increase in weight, while seven others will experience a decrease. Asian Paints (along with Apollo Hospitals), Lupin and SRF are among the eight stocks that have gained a higher weighting in MSCI’s index. In the most recent review, Zydus, Dr. Reddy, REC and Samvardhana motherson have been given less weight. Abhilash Pagariya, the head of Nuvama Quantitative & Alternative Research, stated that India's overall weight in MSCI Standard Index would rise from 15.5% to 15.6%. The index provider added Swiggy and Vishal Mega Mart to its flagship index in its August quarterly review. As part of the latest quarterly review, MSCI will also include six Indian stocks in its Global Small-Cap Indexes and remove 30 others. IIFL reported that the increase in exclusions comes as a result of an increase in the global minimum capitalisation size requirement from $448 to $404 millions. India had the second highest number of small-caps excluded globally, after the United States. This highlights the impact of tighter eligibility criteria for smaller firms.
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Apollo-backed Aeromexico raises $223 million in long-awaited US IPO
The long-awaited U.S. IPO of Grupo Aeromexico, backed by Apollo, raised $223 million on Wednesday. This marks the start of the Mexican airline's return to the public markets nearly four years after its exit from bankruptcy. AI exuberance, falling interest rates and record equity valuations have fueled confidence in a IPO market recovery. However, the partisan gridlock of Washington has renewed pressure on it after U.S. Tariffs delayed all listing in April. Aeromexico, along with some of its shareholders, sold 11,7 million American Depositary Shares for $19 per share. This was within the range of $18-$20. Aeromexico's IPO value was $2.77 billion. It will be trading at the New York Stock Exchange on Thursday under the ticker "AERO". Reporting by Ateev Bhhandari in Bengaluru and Abu Sultan; Editing by Alan Barona, Harikrishnan Nair
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Boeing settles with the families of three 737 MAX crash victims
Attorneys representing the families said Wednesday that Boeing had reached settlements with respect to three lawsuits filed by families of those killed in the Ethiopian Airlines Boeing 737 MAX crash in March 2019. The U.S. District Court of Chicago had already selected a jury for one case. Terms of settlements have not been released. Boeing did not respond immediately to a comment request. Ethiopian Airlines Flight 302 crashed five months after Lion Air Flight 609 Another 737 MAX crashed into the Java Sea. An Automated flight control system Both crashes resulted in the deaths of 346 individuals. According to an earlier statement, the U.S. aircraft manufacturer has settled over 90% of civil suits related to two accidents. This includes lawsuits, deferred prosecution agreements, and other payments. Mercy Ngami Ndivo and Abdul Jalil Qaid Ghazi Hussein, as well as Nasrudin Mohammad had Kenyan roots. Robert Clifford of Chicago represented their families. He was appointed as lead counsel to represent the majority plaintiffs in the Ethiopian Airlines case. Boeing lost more than $20 billion in the wake of these two accidents. (Reporting from Seattle by Dan Catchpole; editing by Kate Mayberry).
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The death toll from Typhoon Kalmaegi has reached 114 in the Philippines. As it moves to Vietnam, its strength is regaining.
The disaster agency reported on Thursday that the death toll from the Philippines' Typhoon Kalmaegi has risen to 114, with 127 still missing. As the storm, which devastated the central areas of the country, gained strength and headed toward Vietnam, it was able to gain more power. Authorities in Vietnam's Gia Lai Province warned that heavy rains and damaging wind could disrupt agricultural activities and cause flooding. As floodwaters receded in Cebu, Philippines, the extent of the damage became more apparent. Homes were flooded, cars were flipped over, and the streets were choked with debris. In the Philippines, more than 200,000 people evacuated before Kalmaegi hit on Tuesday. Others have started the difficult task of cleaning up their streets and houses after returning to their homes. The challenge is now debris removal... "The challenge now is debris clearing... NEW STORM DEVELOPING As the typhoon Kalmaegi (locally known as Tino) left the Philippine monitoring zone weather forecasters tracked a developing storm east of Mindanao which could intensify into a super typhoon. This raised concerns about potential impacts for early next week. Kalmaegi is the Philippines' 20th storm of the year. It comes less than a month after the magnitude 6.9 earthquake that struck northern Cebu and killed dozens. Kalmaegi was strengthening as it moved across the South China Sea, before its landfall on Vietnam. The storm is expected to affect several provinces in the central region, including coffee-growing regions where harvest is underway. The authorities mobilized thousands of soldiers for potential evacuations, rescue missions, and recovery efforts. Vietnam's aviation authority said that operations at eight airports including the international Da Nang airport are likely to be impacted. To ensure passenger safety, airlines and local authorities were urged to closely track the storm's progression.
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Trump suffers political setback as Democrats whip up voter anger over price
The White House planned a Wednesday anniversary launch to highlight the Republican leader's promises since his return to office. Trump and his Republican allies faced a series of Democratic victories during off-year elections. This was a rare setback as voters in several states showed resistance to Trump's agenda. Trump's reaction was predictable. Trump is known for his ability to resist defeat. He criticized Democrats for the longest government shutdown in U.S. History, which he claimed contributed to the party's loss. He urged Republicans to change Senate Rules to make it easier to advance his agenda. But he also acknowledged that the night had not gone well for Republicans and, somewhat uncharacteristically, suggested they had lessons to learn from their loss. Trump said to lawmakers of his party early Wednesday morning at the White House, "Exactly one-year ago we achieved that beautiful and big victory." "Last night wasn't expected to be a win. "I don't believe it was good news for Republicans." He added, "I don't think it was good for anyone, but we did have an interesting evening and learned a great deal." The Democratic victories in New Jersey and New York, driven by concerns about cost of living, highlight the challenges that Trump and the Republican Congress will face in 2026 when it comes to addressing the frustrations of voters with the economy. The election of Tuesday also brought a populist dynamic leader to the forefront, with Zohran Mdani becoming the new mayor of New York. This created a natural counterpoint for the president who is a New Yorker and likes to call the 34-year old a communist. Mamdani, a democratic socialist, is the mayor of New York. Mamdani could be a serious threat to Trump in terms of his ability to appeal to the populist side of the electorate. In both New Jersey as well as Virginia, two thirds of the voters said that they were dissatisfied with or angry at the direction in which the U.S. is heading. Democrats were able to win over 75% of these voters. Democrats also won a majority of voters who stated that their family's finances were either stable or declining. Vice president JD Vance stated on Wednesday that it is "idiotic" to react too strongly to a few elections in states with a Democratic lean. He suggested Republicans focus on the economy. He wrote, "We must focus on our home front." "We will continue to work to make a decent lifestyle affordable in this nation, and that is the metric we'll be judged by in 2026 and beyond." AFFORDABILITY IS WHITE HOUSES' TOP AGENDA The White House official stated that the message of the administration going into the midterms will be directed towards the affordability issue. Trump himself ran successfully on this issue in his 2024 campaign, against Democrats Joe Biden & Kamalah Harris. The official stated, "We remind voters that this is the way we win: by speaking about costs that impact their wallets." Some Republican strategists noted that Trump's efforts to lower prices have not been helped by tariffs. They also said that voters needed to see him focus more on domestic issues than foreign policy. The president has used tariffs to gain international attention and has spent considerable time in recent weeks seeking peace in the Middle East, and between Russia, and Ukraine. John Feehery, Republican strategist, said that Trump's problem is that he is trying to save the entire world while he forgets about his own people, who are not doing well. "He should spend less time running around and focus more on the problems at home." Trump's remarks at the Miami Economic Conference on Wednesday were dominated by praise for his peace efforts, but he barely acknowledged Republican election losses. He began his speech by noting that it had been one year since "the single most consequential electoral victory in American History" and he said Americans "restored their sovereignty" when they put him in office. Trump said, "We lost a bit of sovereignty in New York last night," in an apparent dig at Mamdani. "But we will take care of it." Do not worry. Reporting by Jeff Mason, with additional reporting by Nandita BOSE, Tim Reid and Jason Lange; editing by Colleen JENSEN and Howard GOLLEY.
Election authorities raise 'severe questions' about US Postal Service tally delivery strategies
A group of about 3 dozen state and local election authorities on Wednesday raised severe concerns about the U.S. Postal Service's capability to provide countless tallies for the 2024 presidential election.
The letter, from the National Association of State Election Directors and other state and local election officials, stated election officials have raised major questions about processing facility operations, lost or postponed election mail, and front-line training shortages impacting USPS's capability to provide election mail in a prompt and accurate manner.
The authorities said that, in spite of repeated conferences with USPS election personnel, we have not seen enhancement or concerted efforts to remediate our issues.
The letter included that over the previous 2 years in nearly every state regional election authorities are getting postmarked tallies well outside the three to five organization days USPS claims as the Superior shipment requirement.
A USPS spokesperson did not immediately comment.
The USPS inspector general's office said previously 46% of votes were cast by mail in the November 2020 governmental election, compared to 21% in the 2016 election.
USPS carries out extraordinary steps to speed delivery of tallies two weeks before the day of the general election, consisting of steps like additional pickups, additional deliveries, and special sort intend on processing equipment.
USPS stated in the 2020 general election, it delivered 99.89%. of ballots from voters to election officials within 7 days. Ballot by mail is set to start in mid-September.
An inspector general's office report in July found some USPS. functional modifications pose a threat of private ballots not being. counted and made suggestions to enhance readiness for. prompt processing and shipment of ballots.
In December 2021, USPS and the NAACP reached a settlement to. resolve a 2020 suit over election mail that the Justice. Department said would make sure prioritizing delivering ballots in. future elections.
(source: Reuters)