Primark store at the Queens Center mall in Elmhurst, NY. Melissa Repko | CNBCThe head of fast fashion chain Primark, Paul Marchant, has resigned with immediate effect after he admitted to an “error of judgment” towards a woman in a social situation late last year.Parent-company Associated British Foods said in a statement on Monday that Marchant had accepted his actions fell below the standards expected, and the CEO of the 14 billion pound ($18 billion) conglomerate said he was “immensely disappointed”.In his over 15 years in charge of Primark, Marchant grew operating profit fourfold to over a billion pounds, more than doubling…
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KLA is set for further market share gains in the semiconductor equipment market, according to Morgan Stanley. Analyst Shane Brett upgraded KLA to overweight from equal weight and lifted his price target by $122 to $870. His new forecast implies 29.2% potential upside for the company. KLA has a majority share of the process control market within the wafer fabrication equipment, or WFE, industry, which involves machines inspecting semiconductor wafers. Given its competitive standing, Brett forecasts KLA to exceed industry WFE forecasts on “structural and idiosyncratic drivers” throughout the next couple of years. “We expect KLA to outgrow WFE in…
BlackRock CEO Larry Fink sounded the alarm on the spread of protectionist policies around the world, saying they will hinder global trade and weaken the economy. “Today, many countries have twin, inverted economies: one where wealth builds on wealth; another where hardship builds on hardship,” Fink said in his annual chairman’s letter to investors. “The divide has reshaped our politics, our policies, even our sense of what’s possible. Protectionism has returned with force.” Fink’s widely-read letter came before President Donald Trump’s planned imposition Wednesday of reciprocal tariffs on “all countries.” The White House has already slapped punitive tariffs on aluminum, steel and…
Marine Le Pen, the French far-right leader, was found guilty of embezzlement by a criminal court in Paris on Monday and immediately barred from running for public office for five years, setting off a democratic crisis in France.The verdict effectively barred the current front-runner in the 2027 presidential election from participating in it, an extraordinary step but one the presiding judge said was necessary because nobody is entitled to “immunity in violation of the rule of law.”Jordan Bardella, Ms. Le Pen’s protégé and a likely presidential candidate in her absence, said on social media, “Not only has Marine Le Pen…
A mobile billboard rolls past the U.S. Capitol on May 10, 2023.Jemal Countess | Getty Images Entertainment | Getty ImagesInvestors have pulled money from so-called ESG funds in recent years, amid political backlash, high interest rates and other headwinds.But analysts say the outlook and long-term investment thesis for the fund category, which stands for “environmental, social and governance,” are favorable.President Donald Trump’s agenda “isn’t ‘game over’ for ESG investing,” Diana Iovanel, a senior markets economist at Capital Economics, wrote in a research note on Tuesday.Demand for ESG investments “is here to stay” even in the face of political pressure, Iovanel…
Here are Monday’s biggest calls on Wall Street: Stifel reiterates Tesla as buy Stifel cut its price target on the stock but said it is sticking with Tesla shares. “We are updating our forecasts to reflect lower near-term sales, and trimming our target price to $455 from $474. We expect share price volatility to persist in the near term, but remain optimistic on TSLA’s medium- to long-term prospects and reiterate our Buy.” Morgan Stanley upgrades KLA to overweight from equal weight Morgan Stanley says it sees a “rich catalyst” path ahead and robust earnings in late April for the semis…
These are the stocks posting the largest moves in premarket trading. Source link
Value within the artificial intelligence industry is slowly shifting, from the companies developing models to the apps building on top of them. Early in the AI race, critics viewed apps like Perplexity, Replit, Sesame and Abridge as second-rate middlemen, slapping an interface on someone else’s technology. They were disparagingly known as AI wrappers: companies with entire apps or businesses wrapped around existing models. Companies like OpenAI, Google, Meta and Anthropic developed their own models.The arrival of ultra-efficient models and increasing model commoditization accelerated the shift.”There was an impression that the only way to compete in AI would be to raise hundreds…
Customers shop for fresh fruits and vegetables in a supermarket in Munich, Germany, on March 8, 2025.Michael Nguyen | Nurphoto | Getty ImagesGerman inflation came in at a lower-than-expected 2.3% in March, preliminary data from the country’s statistics office Destatis showed Monday.It compares to February’s 2.6% print, which was revised lower from a preliminary reading, and a poll of Reuters economists who had been expecting inflation to come in at 2.4% The print is harmonized across the euro area for comparability. On a monthly basis, harmonized inflation rose 0.4%. Core inflation, which excludes food and energy costs, came in at 2.5%,…
A slowdown in first-quarter deliveries and headwinds from Tesla protests could dampen the company’s near-term growth, according to Stifel. Analyst Stephen Gengaro reiterated his buy rating but trimmed his price target by $19 to $455. That still implies more than 72% upside from where shares closed on Friday. Gengaro lowered his first-quarter and full-year 2025 delivery forecasts, saying a slower-than-expected rollout of Tesla’s new Model Y and the timing of its lower-priced vehicle could affect sales volumes. Tesla is expected to unveil a lower-cost electric vehicle, potentially a variant of its Model Y car, in the first half of the…
