FT : Algorithmic warfare raises new moral dangers

Algorithmic warfare raises new moral dangers
Israel’s use of an AI-enabled targeting system in Gaza has fed the debate about military technology

One of our worst nightmares about artificial intelligence is that it will enable killer robots to stalk the battlefield dispensing algorithmically-determined death and destruction. But the real world is a lot messier than the comic books. As Israel’s bombardment of Gaza shows, we may be moving towards more invisible and insidious forms of automated decision-making in warfare.

A chilling report published last week by the Israeli online magazine +972 highlighted the heavy reliance of the Israel Defence Forces early in the war on an AI-enabled mass target-generation system known as Lavender, which flagged 37,000 Gazans as suspected Hamas militants. As a result, many were bombed in their homes, often killing their families too.

Disaffected Israeli intelligence sources, interviewed by +972, said the system had an estimated error rate of 10 per cent, wrongly identifying some targets for assassination. They also alleged that the IDF would permit a strike on a junior Hamas militant, even at the risk of killing 15 to 20 civilians. That ratio rose from 1 to more than 100 for a senior Hamas commander. Human oversight of the automated target-identification process was minimal, sometimes lasting no more than 20 seconds, they claimed. “In practice, the principle of proportionality did not exist,” one told the magazine.

The IDF has contested several aspects of this report. “Contrary to Hamas, the IDF is committed to international laws and acts accordingly,” the IDF said in a statement. The “system” was a database that human analysts used to verify identified targets. “For each target, IDF procedures require conducting an individual assessment of the anticipated military advantage and collateral damage expected.”

What is indisputable is the horrifying loss of civilian life in Gaza that occurred in the first weeks of the war following the murderous Hamas attack on Israel on October 7. According to Palestinian authorities, 14,800 people, including about 6,000 children and 4,000 women, were killed in Gaza before the temporary ceasefire of November 24 when Lavender was most used. 

Many aspects of the Israeli-Gazan tragedy are unique, born of the region’s tangled history, demography and geography. But Israel is also one of the world’s most technologically advanced nations and the way it wages war feeds the global debate about the military uses of AI. That debate pits so-called realists against moral absolutists.

Realists argue that AI is a dual-use technology that can be deployed in myriad ways for both good and bad. Few, for example, would contest its use in defensive weapons, such as Israel’s Iron Dome that has intercepted multiple rocket attacks from Gaza. But the Lavender system appears to have contributed to  a “dramatically excessive” rate of collateral damage that is morally indefensible, says Tom Simpson, a former Royal Marine now philosophy professor at the University of Oxford. 

Yet Simpson opposes an outright ban of lethal autonomous weapons (LAWS), as some campaigners are demanding, given the likelihood that less law-abiding hostile countries will still use them. Implementing any such ban would create “an appalling strategic vulnerability”. “If liberal democracies are worth defending they should have the most effective tools,” he tells me.

Robots, like soldiers, are often instructed to do the dull, dirty and dangerous work. “If we can spend treasure to save blood we should do it.”

But the moral absolutists draw a clear red line at outsourcing any life-and-death responsibilities to error-prone machines. The experience of the Lavender system shows the tendency to over-trust the computer. It also highlights the difficulty of keeping “humans in the loop” in the heat of war. 

Mary Ellen O’Connell, a law professor at the University of Notre Dame who supports a ban on LAWS, says that realists tend to favour the projection of power over the protection of the rule of law. But, she tells me, for western democracies effective power rests on the rule of law. “The US has only won one war since World War II and that was the liberation of Kuwait. That was the only war we have fought lawfully in full compliance with the United Nations charter,” she says.

That is also a realist argument that should resonate in Israel, as much as the US. Soldiers should believe they are fighting for a just cause in a moral way. Those who spoke to +972 magazine clearly question the way that Israel has fought the war. Humanity must lead the technology, rather than the other way around.

>>> US Reearch Calls

  • Upgrades:
    • Albemarle (ALB) upgraded to Buy from Hold at Berenberg; tgt raised to $160
    • Ashland (ASH) upgraded to Overweight from Equal Weight at Wells Fargo; tgt raised to $112
    • C.H. Robinson (CHRW) upgraded to Peer Perform from Underperform at Wolfe Research
    • Chevron (CVX) upgraded to Sector Outperform from Sector Perform at Scotiabank; tgt $195
    • DoorDash (DASH) upgraded to Buy from Neutral at MoffettNathanson; tgt raised to $164
    • Hamilton Insurance Group, Ltd. (HIG) upgraded to Overweight from Equal Weight at Wells Fargo; tgt $16
    • Gartner (IT) upgraded to Buy from Neutral at UBS; tgt raised to $550
    • Warrior Met Coal (HCC) upgraded to Buy from Neutral at Citigroup; tgt raised to $75
  • Downgrades:
    • Airbnb (ABNB) downgraded to Hold from Buy at Needham
    • Altice USA (ATUS) downgraded to Underweight from Neutral at JP Morgan
    • Arbor Realty Trust (ABR) downgraded to Neutral from Outperform at Wedbush; tgt lowered to $13
    • Clipper Realty (CLPR) downgraded to Mkt Perform from Mkt Outperform at JMP Securities
    • EOG Resources (EOG) downgraded to Sector Perform from Sector Outperform at Scotiabank; tgt $155
    • Exelixis (EXEL) downgraded to Equal Weight from Overweight at Barclays; tgt $25
    • Gen Digital (GEN) downgraded to Equal Weight from Overweight at Barclays; tgt lowered to $25
    • Hamilton Lane (HLNE) downgraded to Neutral from Overweight at JP Morgan; tgt $115
    • Robinhood Markets (HOOD) downgraded to Sell from Neutral at Citigroup; tgt raised to $16
  • Others:
    • Airbnb (ABNB) initiated with a Buy at The Benchmark Company; tgt $190
    • AnaptysBio (ANAB) initiated with an Overweight at Wells Fargo; tgt $56
    • Applied Materials (AMAT) resumed with a Hold at Deutsche Bank; tgt $225
    • Aquestive Therapeutics (AQST) initiated with an Overweight at Piper Sandler; tgt $10
    • Carisma Therapeutics (CARM) initiated with a Buy at BTIG Research; tgt $6
    • EastGroup (EGP) initiated with a Neutral at JP Morgan; tgt $190
    • FactSet (FDS) initiated with an Underperform at Wolfe Research; tgt $430
    • First Citizens BancShares (FCNCA) initiated with an Equal Weight at Barclays; tgt $1850
    • FirstService (FSV) resumed with a Sector Perform at Scotiabank; tgt $170
    • Isabella Bank Corporation (ISBA) resumed with a Neutral at Piper Sandler; tgt $20
    • Walt Disney (DIS) resumed with an Overweight at JP Morgan; tgt raised to $14

>>> US Gapping down

Gapping down
In reaction to earnings/guidance
:
  • RCEL -11.4% (lowers Q1 commercial revenue guidance), PESI -9.9% (guidance), KMX -8.9%, LOVE -8.5%, FAST -5.7%
Other news:
  • SGHT -4% (announces publication of study relating to patients treated by MIGS technologies)
  • RSKD -2.5% (authorizes new $75 mln share repurchase program)
  • STC -2.2% (acquires the All New York Title Agency)
  • ISPR -1.8% (entered into a capital contribution, subscription, and joint venture agreement)
  • PRTC -1.1% (receives FDA fast track designation for LYT-200 in head and neck cancers)
  • REGN -1% (US DOJ files False Claims Act complaint against REGN for fraudulent pricing reporting)

>> US Gapping up

Gapping up
In reaction to earnings/guidance
:
  • STZ +2.8%, BKE +0.9% (March comps)
Other news:
  • ELYM +51.7% (acquires Tenet Medicines and concurrent $120 million private placement)
  • ALPN +36.9% (VRTX to acquire ALPN for $65/sh; aslo provides updated clinical data from Povetacicept in IgA Nephropathy)
  • LPCN +15.2% (LPCN 2401 Clinical Results Showing Improved Body Composition in Participants with Obesity)
  • ARVN +6.6% (enters into a transaction with Novartis (NVS), including a global license agreement for the development and commercialization of PROTAC Androgen Receptor Protein Degrader ARV-766 for the treatment of prostate cancer)
  • STE +2.5% (to divest its Dental segment to Peak Rock Capital for $787.5 million)
  • DNTH +2.5% (Announces Oral Presentation for DNTH103 at the 2024 American Academy of Neurology (AAN) Annual Meeting)
  • ARTNA +2% (says it's prepared to meet EPA's new drinking water standard)
  • CWT +2% (says it's well positioned to meet EPA's new drinking water standard)
  • SHO +1.8% (to acquire Hyatt Regency San Antonio Riverwalk for $230 mln)
  • ORC +1.5% (announces estimated first quarter 2024 results, april 2024 monthly dividend and March 31, 2024 RMBS portfolio characteristics)
  • AZN +1.3% (raises annual dividend by 7% to $3.10 per share)
  • HRZN +1.3% (provides first quarter 2024 portfolio update)

>>> Early premarket gappers

Early premarket gappers

Gapping up:
ALPN +36.2%, ARTNA +2%, CWT +2%, SHO +1.8%, CCI +1%, YSG +1%, AZN +1%, NEOG +0.9%, COST +0.8%, GOEV +0.8%
Gapping down:
RCEL -6.6%, SGHT -4%, RSKD -2.5%, REGN -2.3%, STC -2.2%, ISPR -1.8%, AMZN -0.9%, BBSI -0.5%

>>> Europe : Brokers Upgrades & Downgrades - 11th of April 2024 V2(+)

>>> Up
* Albemarle Raised to Buy at Berenberg; PT $160
* Digital Workforce Services Raised to Accumulate at Inderes
* Henkel Raised to Buy at DZ Bank; PT 85 euros (+)
* iomart Raised to Buy at Numis; PT 185 pence (+)
* Kingfisher Raised to Buy at HSBC; PT 305 pence
* LSEG Target Raised by Berenberg as Growth Potential Undervalued (+)
* Marks & Spencer Raised to Overweight at JPMorgan; PT 330 pence
* Peab Raised to Buy at SEB Equities; PT 75 kronor
* Smiths Raised to Buy at HSBC; PT 2,000 pence
* Subsea 7 Raised to Overweight at JPMorgan; PT 220 kroner

>>> Down
* Altice USA Cut to Underweight at JPMorgan (+)
* Epiroc Cut to Hold at ABG; PT 210 kronor
* European Opportunities Trust PLC Cut to Sell at Stifel (+)
* Hexpol Cut to Hold at ABG; PT 135 kronor
* Jupiter Cut to Underweight at Barclays; PT 85 pence
* K+S Cut to Sell at Stifel; PT 12.50 euros
* Liontrust Cut to Equal-Weight at Barclays; PT 760 pence
* New Wave Cut to Hold at Nordea
* Nordex Raised to Buy at Bankhaus Metzler; PT 14.90 euros (+)
* SR-Bank Cut to Hold at SEB Equities; PT 141 kroner
* Technip Energies Cut to Neutral at JPMorgan; PT 26 euros
* Volvo Cut to Neutral at Citi; PT 310 kronor

>>> Initiation
* Airbnb Rated New Buy at Benchmark on Position in Travel Industry
* GSF LN Rated New Sector Perform at RBC; PT 85 pence
* Kenmare Rated New Buy at TP ICAP Midcap; PT 496.59 pence (+)
* Mastercard Rated New Buy at Cowen; PT $545
* Mendus Rated New Accumulate at Inderes; PT 0.70 kronor
* Mildef Group Rated New Buy at Pareto Securities; PT 91 kronorok
* TeamViewer SE Reinstated Buy at Bankhaus Metzler; PT 21 euros (+)
* Visa Rated New Buy at Cowen; PT $320

>>> Call
* Jefferies Says Stocks Can Rally Even If Fed Doesn’t Cut Rates
* Givaudan Sales Beat Boosted by Fragrance and Beauty: Jefferies (+)
* Smiths Raised to Buy at HSBC on Return to Growth in 2H 2024 (+)
* Volvo Downgraded as Citi Struggles to See More Upside Potential (+)

>>> TradeGate Pre-Market Indications

DAX:
  • Symrise (SY1 TH) +1.6%
  • Zalando (ZAL TH) +1.6%
  • Rheinmetall (RHM TH) +0.8%
  • Bayer (BAYN TH) -1.2%
    • Germany May Be Europe’s Achilles’ Heel in First-Quarter Earnings
  • Deutsche Telekom (DTE TH) -3.1%
MDAX:
  • Nordex (NDX1 TH) +2.2%
    • Nordex Raised to Buy at Bankhaus Metzler; PT 14.90 euros
  • Evotec SE (EVT TH) +1.7%
  • Aurubis (NDA TH) +1.2%
  • Wacker Chemie (WCH TH) -1%
  • K+S (SDF TH) -3.7%
    • K+S Cut to Sell at Stifel; PT 12.50 euros
SDAX:
  • Thyssenkrupp Nucera AG & Co KGaa (NCH2 TH) +1%
  • Varta (VAR1 TH) -0.7%
  • Borussia Dortmund (BVB TH) -2%

WSJ : Golf Is Booming. But Can the Good Times Last?

Golf Is Booming. But Can the Good Times Last?
More people are playing the game, thanks in part to off-course facilities such as driving ranges and Topgolf. There are reasons to believe the upswing might last.

The saying goes that golf is a great game but a lousy business. It makes sense if you consider how the golf industry is like family farming: weather-dependent, labor-intensive, taking up vast real estate that could be used for other things, and dependent upon the market choices of consumers who often have more loyalty to price than to brand.

But there are indications it might be time to retire that adage.

Golf is in the middle of a rare boom. The number of rounds played has been growing nationwide. There’s an uptick in new golf-course development after more than a decade of shrinking inventory. And private clubs have waiting lists for memberships—something many haven’t seen in two decades.

Nobody is dismissing the possibility that it could all turn down again. But there are some reasons to think that the high tide the game is riding might have more staying power than previous boom times. That’s because the way people experience golf has changed in recent years, thanks to a combination of technology, the flexibility of golf-course managers and lessons learned during the early phases of the Covid pandemic in 2020 and 2021.

The numbers game
How flush is the industry? According to the National Golf Foundation, an independent data-gathering and consulting firm in Jupiter, Fla., the number of golf rounds played in the U.S. reached a record 531 million last year, a 10% increase from 2020 and surpassing the 518 million rounds played during the heyday of the Tiger Woods boom years of 1999-2000.

Course participation (measured in terms of anyone who plays a round of golf) has more than bounced back after declining 9% in the seven years after the 2007-09 recession. Since 2017, participation has grown 12%, reaching 26.3 million people in 2023. The U.S. golf population is also more diverse than ever demographically, thanks to gains by women, people of color and junior golfers in the overall share of the golfing populace.

Demand for tee times has surged, partly because the overall inventory of tee times nationally has shrunk. Fifteen years ago, there were too many courses and uneven demand for golf rounds; the industry has since shed 12% of its supply of golf courses. Shrinking supply and increased demand have enhanced competition for tee times, which in some markets has translated into higher green fees.

Public-sector course operators, eager to maximize revenue, have faced little resistance to congestion pricing during periods of peak demand (such as midmorning)—even from price-conscious golfers who in an earlier era might have gone bargain hunting for less-expensive golf. Now those golfers are willing to spend.

Topgolf era
More grounds for optimism can be found in data showing how many people are experiencing the game in off-course facilities such as driving ranges, golf simulators and places such as Topgolf, PopStroke and Drive Shack, which provide family- and date-friendly entertainment-oriented golf experiences with food, drink and music. Last year, 32.9 million people engaged in such off-course experiences, according to the National Golf Foundation. That is a 41% increase since 2019 and a total that in 2022 and 2023 exceeded the number of on-course golfers.

More important, these off-course golf experiences provide an on-ramp to playing real golf on real courses. Conventional driving ranges have long been a part of the golf world. What is new to the industry are the more high-tech venues for playing golf that provide a considerable modicum of reality and involve real golf balls, real golf clubs and full swings. These could include such venues that offer three-dimensional indoor screen simulations of playing full shots on some of the world’s most recognizable golf courses, as well as shot competitions and other fun golf-related games along with loud music, lots of yukking it up and full-service food and beverage, often for people who are playing golf for the first time.

Historically, the knock on golf has been that it is too hard, too time-consuming and too expensive. The experience provided by these on-ramp facilities can help overcome some of that resistance. By concentrating on fun and social engagement within a very limited time frame—anywhere from a half-hour to two hours at most for most of these forms of alternative engagement—would-be golfers get a taste of what makes the game so appealing: the look and feel of that airborne ball.

“The compression, the trajectory, the sense of empowerment in launching the ball skyward—you cannot get hooked on golf without it,” says Greg Nathan, National Golf Foundation president and chief executive officer, who refers to that feeling as “shot euphoria.”

Pandemic boost
The initial stages of the pandemic in 2020 didn’t bode well for golf, as courses were shut down across the country. But thanks to determined lobbying efforts by state and national golf associations, government officials were convinced that golf could proceed safely, and within a few months courses opened up, and the public quickly discovered something about the game that even its most ardent proponents hadn’t focused on: that golf was among the safest outdoor recreation activities available in the Covid era, a welcome contrast with the lockdown mentality then prevailing.

To keep the Covid-era boost going, golf clubs adopted new programming that was more welcoming and offered more value for the cost of a membership. It is what Marcie Mills, search executive and consultant with the private-club advisory firm of Kopplin Kuebler & Wallace in Scottsdale, Ariz., calls “the club within a club”—covering everything from card clubs and gardening, automobile, hiking and reading groups, to converting boardrooms into family dining areas, encouraging clubs to provide daycare and turning junior golf instruction into part of in-house summer camp.

Advertisement


Mills calls it “a more holistic approach to golf and club membership.”

On the golf side, meanwhile, clubs have created additional forward tees to accommodate newcomers, seniors and those who have slower swing speeds. They are paying closer attention to golf-instruction facilities, short-game practice areas and family-oriented putting courses. They also are creating more fun events based upon social interaction rather than outright competition—like a “nine and wine”—that combines casual golf with a drink or two.

What’s more, short, nine-hole par-3 courses are popping up as supplemental components of full-length, 18-hole courses, providing a safe place for juniors and newcomers to golf without impeding play on the main layout.

Serious challenges
To be sure, plenty of hazards face the sport before victory is declared. Among them: the overall state of the economy, inflation, the cost of borrowing, the cost and availability of labor, continued access to water (especially in the U.S. West and Southwest), weather patterns and climate change, and the rapidly escalating cost of maintenance.

That isn’t a short list, and much of it is outside the immediate control of clubs. Still, club managers and course superintendents have been focusing on investments, infrastructure upgrades and making their facilities more sustainable—both economically and environmentally.

These investments include irrigation systems that are more efficient and use less water. It means converting marginal areas of the golf course from maintained turf to more-naturalized areas. Sand-filled bunkers that require handwork to get in shape for everyday play are being rebuilt with better drainage technology so that they don’t regularly wash out. Some clubs are even changing their daily mowing practices, moving away from labor-intensive, hand-operated equipment toward more autonomous, unmanned mowers for greens and fairways that depend on GPS and computerized mapping for operation. And to become more resilient in the face of extreme weather events, some courses are working to shed stormwater faster, and store it where needed for irrigation purposes.

Across the country, golf clubs that had deferred maintenance on their infrastructure for years or even decades are now investing in upgrades. Many golf-course architects report being busier than ever on such work. One indication of the uptick in renovation is that clubs find themselves having to lock down contracts two and sometimes three years in advance.

The point of all that infrastructure work is to adapt golf courses to an increasingly tough environment and to ensure the long-term sustainability of the property.

As more clubs invest and adapt, the adage just might change. Golf will always be a great game; but it could also become a good business

>>> What to look at today - 11th of April 2024

Bonds in Asia fell sharply after higher-than-expected US inflation supported the view that the Federal Reserve is in no rush to cut interest rates. Benchmark 10-year yields in Australia and New Zealand climbed by more than 10 basis points. Their Japanese counterpart rose to the highest since November. US Treasuries recovered slightly after a Wednesday selloff lifted the 10-year yield above 4.5% for the first time in five months.  A gauge of global bonds suffered its worst performance since February 2023 on Wednesday, while a Treasuries index showed its biggest decline since August 2022.  Stocks retreated in Asia but pared losses. While benchmarks dropped in Hong Kong and Australia, those in Japan and China fluctuated. South Korean shares reversed earlier declines after President Yoon Suk Yeol’s party suffered a significant loss in parliamentary elections. US futures were steady after the S&P 500 fell 1% and the Nasdaq 100 dropped 0.9% on Wednesday.  A dollar index was little changed after touching its highest level this year Wednesday. The yen inched higher after weakening to levels not seen since 1990 against the dollar in the prior session. The depreciation has sparked fresh speculation Japanese authorities might step into the market to support the currency.  In China, the central bank ramped up support for the yuan against a resurgent greenback by setting the daily reference exchange rate at a level that topped estimates by a record. The cross-asset moves followed March US core consumer price index, which excludes food and energy costs. The gauge increased 0.4% from February, more than the 0.3% consensus forecasts, to beat expectations for a third straight month. Investors are now signaling the US central bank will slash rates just twice this year, starting in September, less than the most recent Fed dot plot that indicated three 2024 cuts. At the start of the year, market pricing indicated six cuts were expected. Former Treasury Secretary Lawrence Summers went a step further to say that one would have to “take seriously the possibility that the next rate move will be upwards rather than downwards.” Such a likelihood is somewhere in the 15% to 25% range, he told Bloomberg Television’s Wall Street Week with David Westin. In China, consumer prices barely increased from a year earlier last month and industrial prices continued to slump, underscoring the deflationary pressures that remain a key threat to the economy’s recovery. Australian consumer inflation expectations ticked higher. Rates traders have started pricing for the potential that the Reserve Bank of Australia will end the year with no rate cuts at all. Other data due for release includes Philippine trade figures. Markets are closed in Indonesia, Malaysia, India, Pakistan, Sri Lanka and Bangladesh. Elsewhere, oil prices held gains on worries about further conflict in the Middle East. West Texas Intermediate, the US oil price, inched higher after rising more than 1% Wednesday on news the US and its allies believe major missile or drone strikes by Iran or its proxies against military and government targets in Israel are imminent. US After Hours ALPN +36.6% to be acquired by VRTX; COST +0.5% higher on March comps and dividend increase; REGN -2.6% lower as US DOJ files complaint.

Nikkei -0.44% Hang Seng -0.14% CSI +0.14% Shanghai +0.51% Shenzen +0.68%

Eur$ 1.0745 CNH 7.2530 CNY 7.2361 JPY 152.93 GBP 1.2547 CHF 0.9124 RUB 93.3000 TRY 32.3141 WTI$ 86.37 +0.17% Gold 2,342 +0.35% BTC 70,532 +1.04% ETH 3,563 +1.40%

S&P +0.02% Nasdaq +0.07% EuroStoxx -0.06% FTSE +0.27% Dax -0.07% SMI +0.10%

Macro :
- Powell’s Soft-Landing Dream in Danger as Traders Hedge Inflation
- Alecta Faces Governance Revamp After Losing Billions on US Banks
- Germany May Be Europe’s Achilles’ Heel in First-Quarter Earnings
- Proposals for New US Power Plants Jump 90% on Surging Demand
- Traders Flee Real Estate Stocks as Inflation Darkens Outlook
- Swiss Market Up 32%? It's a Different Index Without `Ugly Three'

Keep an eye on :
- ADBE US : Adobe Is Buying Video Clips for $3 Per Minute to Build AI Model
- ALPN US : Vertex Enters Into Agreement to Acquire Alpine Immune Sciences
- AMBUB DC : Ambu Boosts FY Organic Revenue Forecast
- Banca Progetto : Centerbridge Makes Bid for Minority Stake in Banca Progetto: MF
- ELE SM : Spanish Utilities' Nuclear Margin Sinks as Phaseout Risk Lingers
- ERA FP : Eramet in Pact With France to Extend SLN Financial Guarantees
- FAGR BB : Fagron 1Q Revenue EU209.2M Vs. EU181.4M Y/y
- YACHT IM : Wanda Said to Agree to Sell James Bond’s Yachtmaker to Lionheart
- GXI GY : Gerresheimer 1Q Revenue Meets Estimates
- GIVN SW : Givaudan 1Q Sales Beats Estimates
- HELN SW : Helvetia FY Combined Ratio Reported 97.4% Vs. 94.3% Y/y
- IDIA SW : Idorsia Seeks to Change Terms of Convertible Bond Maturing July
- JANX US : Cancer-Drug Maker Janux Is Said to Weigh Possible Sale
- NTGY SM : Naturgy Shares Swing After Betaville Mention
- TFC US : PACS Group Is Said to Raise $450 Million in Upsized IPO
- PUB FP : Publicis 1Q Organic Revenue Beats Estimates
- REP SM : Repsol 1Q Downstream Refining Margin/BBL Beats Estimates
- RHM GY : Rheinmetall Record Backlog Can Propel Robust Results: 1Q Preview
- ROG SW : Roche Gets FDA Breakthrough Designation for Alzheimer’s Test
- RUI FP : Rubis Secures Final Deal for Terminal JV Stake Sale
- SFL IM : Safilo, Marc Jacobs Renew Global Licensing Pact to Dec 2031
- GLE FP : SocGen to Sell Equipment Finance Arm to BPCE For €1.1B
- STLA IM : Stellantis CEO Warns Pain to Come if Italy Gets Chinese EV Plant
- X US : Biden Reiterates Union Pledge Over US Steel Sale to Nippon Steel
- VACN SW : VAT 1Q Net Sales CHF198.5M Vs. CHF232.7M Y/y