Latest News
-
Goldman Sachs delays BoE rate-cut outlook again on energy-driven inflation risks
Goldman Sachs has delayed its Bank of England rate cut outlook for the second time in this month, citing inflation risks from higher energy prices. They now expect three 25-basis point cuts in July and December this year and one in Febuary 2027. Goldman Sachs stated that while a rate reduction at the April 30 meeting is possible, if the energy crisis?eases quickly, policymakers will more likely wait until they have clearer data. According to the brokerage, the shift is due to the inflationary effect of higher energy prices in Europe. This will likely keep the Monetary Policy Committee on the defensive for the near future. Standard Chartered, Morgan Stanley and others have also pushed their Bank of England easing 'forecasts back, now projecting that the central bank will make its first rate cut during the second quater, due to the spike in energy prices linked to the 'Middle East conflict, which has increased inflation risks. Goldman Sachs predicts that the bank rate will 'ultimately settle at 3% by early 2027. However, in the event of a negative scenario, the MPC is only likely to deliver one cut for this year, and no cuts if conditions worsen.
-
Honda reports a $3.6 billion loss for the year due to rising costs of EV restructuring
Honda warned that it would suffer a loss as high as $3.6 billion this year due to the rising cost of restructuring their struggling EV business. Japan's second largest automaker is the latest to announce a multi-billion-dollar loss due to a cooling in demand for EVs. This is especially true of the United States. Washington, under President Donald Trump has withdrawn the 'plug' on government support for EVs. This has forced Ford and Stellantis to rethink their strategy. Toshihiro Mbe, Honda's CEO, said at a press event that the company would "scrap the development of certain planned EV models" and instead focus on hybrids. The demand for hybrids has soared in the United States as well as elsewhere. The Japanese automaker expects to make a loss of up to 570 billion yen (about $3.6 billion) for the year ending March. This is a significant change from the previous forecast of a profit worth 550 billion. The company stated that it expects to incur up to 2.5 trillion yen worth of?expenses over several financial years as a result of the new strategy. The automaker announced that Mibe and Executive Vice President Noriya Kaihara would voluntarily give up?the equivalent 30% of their compensation during the next three months, while other executives will give up 20%. Honda will announce a new mid-to long-term strategy for its business in the next financial year. $1 = 158.9400 Japanese yen (Reporting and editing by Clarence Fernandez, Christopher Cushing and Clarence Fernandez)
-
Honda reports a loss of up to $3.5 billion in its fiscal year 2019 as it evaluates its EV strategy
Honda Motor said on Thursday that it could book an 'operating loss' of up to $3.5 billion for the financial year ending in this month, due to rising costs associated with its electric vehicle strategies. The Japanese automaker slashed their forecast from 550 billion yen 'profit to a loss between 270 billion yen and 550 billion yen (between $1.75 billion and $3.46 billion). They also cancelled the development and launch of certain U.S. made EVs due to a?slowdown on the North America EV Market. Honda held a press event at 07:30 GMT and said that it expected to incur losses of up to 2.5 trillion yen over several years as a result of its new strategy. The company also reduced its forecast for net profit ranges, from a profit of 300 billion to a loss between 420 and 690 billion yen. The automaker stated that it was aiming to?introduce next-generation hybrids and enhance its existing?hybrid line?to increase profitability. The automaker said that CEO Toshihiro Mbe and Executive vice president Noriya Kaihara would voluntarily give up?the equivalent 30% of their pay for three months, while other executives would give up 20%. Honda is planning to announce a "revised mid-to long-term business strategy" in the next financial year. ($1 =158.9400 Japanese yen) Reporting by Daniel Leussink, Kantaro Koiya and Christopher Cushing.
-
Beijing to send first train to Pyongyang for six years as neighbors revive link
China is set to launch its first passenger train between Beijing and Pyongyang on Thursday. This will end a six-year-long gap as it aims to improve?cross-border infrastructure and rebuild relations with its neighbor. China's railway authority announced that train K27 would arrive at the North Korean capital of Pyongyang on Friday evening, 6:07 pm (0907 GMT), after a 24 hour and 41 minute journey skirting north of Bohai Sea, with a stopover in border city Dandong. A spokesperson for the foreign ministry told reporters that China and North Korea are "friendly neighbors" and that a passenger train service across the border facilitates inter-cultural exchanges. The spokesperson added that China supports stronger communication between the two sides to facilitate such exchanges. When the COVID-19 pandemic erupted in 2020, service was suspended. Travel agencies that organise trips to North Korea say the country is mostly closed to foreign tourists, with a few exceptions. These are mainly Russian tour groups, under limited arrangements. RESTRICTED Tickets In a public notice, China's railways announced that the service will run four days per week, Mondays, Tuesdays, Thursdays, and Saturdays. Beijing Travel Agency said that tickets for the trip on Thursday were all sold out, but there were still some available for March 18. The'shorter Dandong to Pyongyang link' will operate daily both in directions. The first service leaves China's northeastern town of Dandong on Thursday at ten a.m. and arrives in Pyongyang by six seven p.m. During the pandemic, cross-border flights also had to be halted. North Korea's Air Koryo resumed flights to China by 2023, according to its booking website. The airline now operates between the two capitals on Tuesdays and Sundays. Colleen howe, Beijing newsroom and Clarence Fernandez edited the article.
-
How many ships have been attacked since the start of the Iran war in Gulf?
The U.S. and Israeli war against Iran has disrupted the global trade via the Strait of Hormuz - through which a fifth of all oil and liquefied gas in the world normally passes. Iran's Revolutionary Guards warned that any vessel passing through the narrow Strait would be targeted. Here is a list of reported incidents since the war began on February 28, 2009: MARK 1 V.Ships, the manager of the ship, said that a crew member was killed aboard the crude tanker MKD VYOM, which is registered under the Marshall Islands flag. The vessel was struck by a projectile while it was sailing off the Omani coastline, about 50 nautical miles from the capital Muscat. A projectile struck the oil bunkering tanker Hercules Star of Gibraltar, which supplies fuel for ships. It was located 17 nautical miles north-west of UAE's Mina Saqr, in Ras Al Khaimah. The UKMTO? said that the fire started by the attack had been extinguished. Two nautical miles north of Oman’s Kumzar, a tanker with a Palau flag was attacked in the Strait of Hormuz. Oman's maritime safety centre reported that the crew of U.S. sanctioned Skylight has been evacuated. MARCH 2, 2019 UKMTO reported that the U.S. flagged products tanker Stena Imperative, was hit by two projectiles while in Bahrain's port, resulting in an explosion and evacuation of the crew. MARCH 3, 2019 The Marshall Islands crude oil tanker Libra Trader, and the Panama-flagged Bulker Gold Oak both suffered minor damages about 7-10 nautical mile off the UAE port of Fujairah. MARK 4 A projectile struck the container ship Safeen Prestige, which was sailing towards the top part of the Strait, two nautical miles north-east of Oman. According to shipping sources, the?attack caused an engine room fire and forced its crew to abandon ship. MARCH 5, 2019 Sonangol Marine Services, the U.S. representative of Sonangol Marine Services, reported that the crude oil tanker Sonangol Namibe suffered an explosion while anchored in Iraq's Khor al Zubair Port. According to two Iraqi port security experts, an Iranian remote-controlled vessel laden with explosives targeted and damaged the Bahamas flagged ship. MARCH 6 While conducting operations with the vessel Safeen Prestige that was hit on March 4, UKMTO reported a tugboat being struck by projectiles while in the Strait of Hormuz. 7 MARCH UKMTO, citing an unnamed third party, reported that a drone attack was possible 10 nautical miles north of Saudi Arabia’s Jubail. The majority of the crew were evacuated, it said. A projectile was fired at the bulk carrier?Mayuree Naree, which is registered in Thailand and sails under its flag. It was located 11 nautical miles north-east of Oman. A fire broke out on board and prompted the crew to evacuate, the vessel's owner Bangkok-headquartered Precious Shipping said in ?a statement. The container ship One Majesty, which is registered in Japan, sustained minor damages after being hit by a projectile at a distance of 25 nautical miles north-west of Ras Al Khaimah. Vanguard, a maritime risk management company, reported that the hull of Star Gwyneth, a bulk carrier flying the Marshall Islands flag and based in Dubai was damaged by a projectile after it struck her 50 nautical miles north of Dubai. UKMTO reported that there was "no environmental impact" and the crew were safe. According to state media and port officials, two fuel tankers - Safesea Vishnu, flying the Marshall Islands flag, and Zefyros with the Maltese flag - were attacked near Iraq in the Gulf. This prompted Iraq's oil terminals to stop all operations. A port security official reported that the body of an international crew member had been recovered from the sea.
-
French and Benelux stocks: Factors to watch Thursday
Here are some company news and stories that could have a significant impact on Thursday's market in France and Benelux. ID LOGISTICS SAS French logistics company?ID Logistics announced it?booked revenue worth $3.74?billion ($4.32?billion), slightly higher than the average estimate of 3.73 billion euro. Its operating income grew 12%, to 165.2 millions euros. The net profit grew 20%, to 63million euros. Manitou BF SA Manitou BF, a French manufacturer of material handling equipment, reported a full-year revenue of 2,56 billion euros in 2025 and 68?million euro net profit. The company proposed to pay a dividend per share of 0.75 euro. Due to international conditions, the company has?postponed their 2026 guidance. NEURONES SA French IT services provider Neurones announced fiscal year 2025 revenue of 857 millions euros and an operating profit of 78?million?euros. It will also propose to increase its dividend by 7.7%, up to 1.4 euros a share. SWORD GROUP S.E. Sword Group, a French IT company, reported consolidated revenues of 358 millions euros for fiscal year 2025 with an EBITDA of 12.0%. The company proposed a dividend per share of 2 euros. The company targets organic growth of 12 percent in 2026. TONNELLERIE FRANCOIS FRERES S.A. TFF Group reported a revenue of 243.4 millions euros for the first nine months of their fiscal year. They maintained their '2026 outlook but said they were unable to give a reliable mid-term forecast due to volatile markets and hard-to-predict political and economic contexts. Pan-European market data: European Equities speed guide................... FTSE ?Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top ?25 European pct gainers....................... Top 25 ?European pct losers........................ Main stock markets: Dow ?Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report..... ($1 = 0.8666 euros)
-
DP World: Jebel Al-Ali port is fully operational; inbound vessel traffic has been reduced
DP World, a port operator based in Dubai, said on Thursday that its 'Jebel Ali Port was fully operational and had 'no damage to infrastructure. However, it warned that the amount of vessel traffic destined for Iran has been reduced because he war is still going strong. The war, which began with the joint U.S.-Israeli air strikes against Iran nearly two weeks ago has caused global chaos in the energy and transportation markets, and effectively closed the Strait of Hormuz – the world’s most important oil artery. The majority of Gulf ports including Dubai's Jebel Al and the primary?ports located in Kuwait, Bahrain and Qatar, as well as the Saudi Gulf Coast, are situated where the incoming traffic must pass through the Hormuz Waterway. "While infrastructure is fully operational, DP World CEO Yuvraj Nairan stated in a press release that he was deploying regional rerouting measures and operational mitigation to maintain'supply chain continuity' during this period. Port operators and shipping firms still face significant logistical and safety challenges. United Kingdom Maritime Trade Operations said on Thursday that an unidentified projectile struck a container vessel, causing a small blaze, 35 nautical mile north of Jebel Al. DP World operates in countries such as Canada, Peru and?India. In its statement, DP World said that its profit attributable owners rose by nearly 43% last year to $1.07billion. This was boosted 'by a good performance of its terminals and ports, as well as the logistics division, which boosted revenues. DP World stated that 'Jebel Ali Port handled 15.6 millions twenty-foot equivalent unit (TEU) last?year out of a total group total of its global terminals which was 56.1 million TEU. (Reporting by Federico Maccioni; Editing by Thomas Derpinghaus)
-
Is Europe's recovery in gas demand derailed by the Iran crisis or is it just hampered? Maguire
Gas-fired electricity production in Europe reached multi-year-highs early in 2026. This gave liquefied gas (LNG), exporters hope that the region would regain its love for the fuel. Gas consumption has been slowing down in March. The average level of?gas production across major consumers is down by about a third compared to the previous month. At least part of this slowdown is likely due to a sharp increase in regional gas prices following the outbreak of the 'U.S.-Iran War on February 28. The above-normal temperatures in Central and Western Europe has also led to a sharp drop in regional?gas consumption, as heating demand is down compared to the beginning of the year. The low regional gas inventory levels, which need to be replenished before next winter, will also obscure the picture of demand. Regular import orders will still be required even if industrial and power gas usage remains soft. The global LNG industry is facing major challenges as it invests billions in new export capacities on the assumption that Europe will continue to grow its gas demand. The future gas consumption in Europe will have a significant impact on several clean-tech industries, including developers of renewable energy and manufacturers of heat pumps and batteries. Here are some data points and trends that can help industries and analysts grapple with this issue. They may be useful guidesposts to the true demand potential of Europe. Power Trends Gas consumption for electricity production peaks during winter when heating demand is highest, but then drops sharply between spring and autumn. Ember data show that between 2019 and 2025 the gas-fired production averaged 110 Terawatt Hours (TWh), per month, from October to February, but fell to 87 TWh, per month, from April to Septembre. The roughly 26% drop in consumption at mid-year produces an uneven "burn rate" in Europe's electricity system, despite the fact that the fuel is still responsible for 25% of the total annual output. The annual drop in gas consumption by utilities could be underway, despite the market jitters over the Middle East Crisis. Any sudden cold snaps in the spring may result in a new burst of gas demand, further reducing regional fuel stocks. Storage Problems Europe's gas stocks are at their lowest level since 2022, hovering around 27%. The optimistic outlook for LNG exports through 2026 had led utilities to draw down their stocks during the winter. However, the recent halt of LNG exports by Qatar has caused a rapid reassessment. Qatar, the second largest LNG exporter by 2025 in the world, is still offline. This means that Europe's storage operators need to replenish their stockpiles before the winter. In the past, Europe's total inventories of gas hovered around 2,000 billion cubic foot (bcf), which was enough to meet normal heating requirements through winter. The current inventory is around 370 BCF, so it will need to expand by about 1,600 BCF over the next 235 or so days. Gas storage operators will need to inject approximately 6.9 bcf/day (bcfd), which is equivalent to two large LNG tanks per day, in order for them reach this total. According to Kpler's estimates, in Europe, the average number of large LNG tankers that discharge their cargo each day is three. This means that storage firms can secure two tankers every day. According to LSEG, the majority of Europe's natural gas is delivered via pipeline. Around 17 bcfd are distributed throughout Europe by countries like Norway, North Africa, and Azerbaijan. As they replenish their storage, tank farms will choose cheaper pipelined supplies. However, they will also tap into the LNG market if it is attractive. PIVOT INDUSTRIAL Gas demand is also influenced by the health of Europe's industry. Gas consumption has been consistent in the past for chemical plants, fertilizer manufacturers, steel mills, and a wide range of production lines. The collective gas consumption of businesses has fallen sharply in the years since Russia invaded Ukraine, 2022. It has also remained soft despite the subdued economy across Europe. Volkswagen, Europe's largest automaker, reported layoffs this year and a decline in profits. European policymakers are currently drafting new industrial heating rules to help reduce operating costs and provide greater regulatory certainty for the industry. To reduce the need to import gas, lawmakers are taking steps to increase?supplies of?biomethane. This is primarily generated from agricultural facilities and municipal waste landfills. These measures could reduce the total amount of industrial gas used, but they would also create an extra demand for electricity, which would require the power sector to provide at a low cost. Gas-dependent businesses will have to cut production if they cannot afford the gas and continue to burn it when they can. It is likely that Europe's gas consumption trends will remain choppy in the near future, despite the fact that industrial and power users are gradually reducing their dependence on gas. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
South Korea will discipline officials for delays in recovering remains from the Jeju Air crash
His office announced Thursday that South Korean President Lee Jae Myung had 'ordered strict disciplinary actions against officials who were responsible for the delays in the'recovery of the remains of victims from 2024 -Jeju Air crash which killed 179 people.
A presidential aide said that Lee expressed regret and condolences following an additional investigation into the crash, which found only nine body pieces belonging to seven victims were discovered more than one year after the accident.
Officials said that the president had "instructed" authorities to investigate why 648 items of personal property and 155 pieces aircraft debris were left unattended so long.
After missing the one-year deadline, a full investigation report into the disaster has yet to be made public.
On Monday, the transport ministry apologized for the delays. However, the families of the victims have criticized the government for abandoning remains and belongings in an open storage facility and demanded accountability.
In December 2024, a Boeing 737 was hit by birds and then belly-landed at Muan International airport. It then 'overran the runway,' killing nearly everyone on board. Two flight attendants were the only survivors at the'rear of the plane.
The announcement on Thursday comes after an audit by the state released this week revealed that the Transport Ministry?approved faulty airport safety structures for more two decades, failures which were linked to the accident.
The audit concluded that the deaths were largely due to a concrete embankment constructed under the localiser?antenna located at Muan Airport, rather than a frangible construction required by?international regulations.
The report also revealed that there were years of incorrect certifications and missed checks involving similar installations in multiple airports. (Reporting and editing by Ed Davies.)
(source: Reuters)