Nagel Says ECB Can't Commit on Rates Given High Uncertainty
The European Central Bank shouldn't commit to a certain interest-rate path, given how US trade policy and the situation in the Middle East are clouding the outlook, according to Governing Council member Joachim Nagel.
'The biggest uncertainty factor for our future monetary policy course is — besides developments in the Middle East — undoubtedly the unpredictable US trade policy,' the Bundesbank president said Monday.
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Forbes
30 minutes ago
- Forbes
Dubai Watch Week Announces Show Dates For Open-To-The Public Event
The Horology Forum, with multiple round table discussions, is a big part of Dubai Watch Week. It is a big year for Dubai Watch Week, one of the largest independently run regional watch shows in the world. Founded and operated by watch retailer Ahmed Seddiqi, the show celebrates 10 years of existence this year. To mark its growth, the venue is moving to a much larger 200,000-square-foot space more centrally located (than the previous financial district) in the city and increasing the number of exhibitors by 46 percent to a massive 90 brands. The show organizers are also reformatting its classes, immersive programs, round table discussions and other aspects. The change coincides with the 75th anniversary of Seddiqi retail stores, which was founded in 1950, even before the UAE was formed. Since its inception, the family-owned business has steadily built its reputation as leaders in the luxury watch and jewelry world. Four generations later, just in time for the 75th anniversary, Ahmed Seddiqi is launching a refreshed marketing concept and campaign. The company has built up from a single location in 1950 to 40 stores across the UAE in 2025. The new Ressence watch created to honor 75 years of Ahmd Seddiqi features a dial made from sand from ... More each of the seven Emirates. Additionally, Ahmed Seddiqi is partnering all year long with various watch brands for special, commemorative editions – many of which will be on display during the show. In fact, just this past week, Belgian watch brand Ressence unveiled its Type 9 S75 limited edition watch created in partnership with Ahmed Seddiqi for the anniversary. It features a dial filled with sand sourced from the dunes of all seven Emirates of the UAE. Just 20 pieces will be made. Dubai Watch Week offers immersive classes and programs. DWW 2025 The 7th edition of the show (it is not an annual event) will take place at the Burj Park at Dubai Mall, under the patronage of Sheikha Latifa Bint Mohammed, Chairperson of the Dubai Culture & Arts Authority (partner of DWW). In addition to dedicated space for globally renowned brands, the organizers are setting space for many micro and independent brands to offer its clients and visitors depth and variety. The previous event, which took place in November of 2023, attracted 23,000 visitors from around the world. That number is expected to increase exponentially now that the show has nearly doubled in number of exhibitors and space allotment. Among the big brands exhibiting are Audemars Piguet, Breitling, Bulgari, Chanel, Chopard, Jacob & Co., Rolex, TAG Heuer, Tudor, Ulysse Nardin, Van Cleef & Arpels and others. In terms of niche and micro brands, visitors can expect to see outstanding horology from companies such as Armin Strom, Bell & Ross, Biver, Bovet, F.P. Journe, Greubel Forsey, H. Moser &Cie, Ming, MB&F, Parmigiani Fleurier, and many more. 'The increasing interest from brands and partners ahead of this year's edition has been rewarding and humbling as we further establish the Dubai Watch Week platform and continue to propel Dubai as a global destination,' said Hind Seddiqi, CEO of Dubai Watch Week in a statement issued about the has been the case with all Dubai Watch Week events, the 10th version is free and open to the public. It will run from November 19 to 23, 2025.
Yahoo
an hour ago
- Yahoo
Tesla fires longtime insider as Europe slump deepens
Tesla fires longtime insider as Europe slump deepens originally appeared on TheStreet. It's safe to say all the chatter about robots, AI, and Musk's President Trump drama has masked Tesla's () core: an electric vehicle company that's now stumbling big time. Over the past few years, most earnings calls have hyped AI, robotaxis, and what Tesla could be. 💵💰💰💵 What it actually is, though, is a lagging AI player that continues to see a steep drop in vehicle sales. Mr. Market hasn't taken those declining sales reports kindly, either, with Tesla stock down more than 20% year to date. Moreover, the drama's now spilled over, with recent C-suite shakeups hinting that things are blowing up behind the scenes. Tesla and its unpredictable CEO, Elon Musk, have always landed in hot water, but the past few months have been uniquely messy. Early in 2025, Musk found himself in an unlikely alliance with the Trump administration as a special advisor. The move prompted backlash from progressive shoppers and lawmakers in no time, with massive 'Tesla Takedown' protests hitting showrooms in major U.S. cities and media chatter had buyers holding off vehicle purchases, and some states even started looking into unfair labor claims. With Tesla taking the hits, Musk told Reuters in April that he'd cut his Trump gig to just a day or two a week. Then in late May, after an ugly fallout with President Trump, he ditched the role entirely, promising to get back to Tesla's core business. The PR mess bruised Tesla's equity and precipitated some of its worst sales drops ever. Particularly in Europe, Tesla's foothold has been visibly slipping. Registrations have tanked by more than 40% early in the year and then by nearly 30% in the spring. In contrast, the broader European EV market expanded at an encouraging pace. By mid-2025, Tesla's share there had fallen to under 1% — a steep drop from the 1.6% it held a year earlier. More Tech Stock News: Circle's stock price surges after stunning CEO comment Robotaxi rivalry heats up as new cities come online Analyst reboots AMD stock price target on chip update Amid this decline, Chinese EV brands like BYD and SAIC's MG charged ahead with aggressive pricing and wider model options. In North America, Tesla's deliveries held up better, but Musk's public profile cooled off a lot of that enthusiasm. Meanwhile, the Tesla robotaxi trials started last week in Austin, attracting mixed reviews so far. Early influencer videos showed jerky braking and lane slip-ups, catching the National Highway Traffic Safety Administration's eye. On the flip side, longtime Tesla bull Dan Ives still isn't rattled and remains bullish. Tesla has reportedly fired Omead Afshar, its head of North American and European operations, following a massive drop in European EV deliveries, according to Forbes. Afshar is a veteran Tesla engineer and has climbed the ranks since joining in 2011. Putting things in perspective, in May, Tesla sold just 8,729 EVs in Europe, down 40.5% from the prior-year period, with its market share shrinking to 0.9% from 1.6% year-over-year. Similarly, YTD registrations were at 46,312 units, a sharp 45% drop from 84,215 a year ago, while European EV demand climbed 12% in the first five months of 2025. In contrast, from January through May 2025, BYD's European registrations jumped fivefold from about 8,500 in Q1 2024 to over 37,000 in Q1 went up a notch in April, when BYD beat Tesla for the first time with 7,231 BEVs sold versus Tesla's 7,165. European BYD customers seem to be enjoying the company's aggressive pricing strategy, fresh hybrid models, and bigger dealer network. Meanwhile, Tesla's North American performance looks a lot better, but not bulletproof. In Q1 2025, Tesla delivered 128,100 EVs in the U.S, an 8.6% drop from a year ago, but it maintained the lion's share at 44%. The contrast reflects its home turf advantage, backed by a massive Supercharger network and loyal Model Y and Model 3 buyers. Nevertheless, automotive titans like GM, Ford, and Volkswagen are all gaining ground fast. All eyes are on Q2 as Tesla reports earnings on July 16, 2025. Wall Street's looking for GAAP EPS of 35 cents, down from 40 cents a year ago. In the last four quarters, Tesla's only topped EPS once in Q3 2024 and beat sales estimates just once, too. Analysts have also slashed EPS estimates 20 times in the past 90 days. On the deliveries front, the street's betting Tesla moved about 393,000 vehicles globally in Q2, down 11% year-over-year but up 17% from fires longtime insider as Europe slump deepens first appeared on TheStreet on Jun 27, 2025 This story was originally reported by TheStreet on Jun 27, 2025, where it first appeared.
Yahoo
an hour ago
- Yahoo
I've been loading up on this cheap FTSE 100 share this week!
This week I bought some more shares in a FTSE 100 company that already features heavily in my portfolio. In fact, although I always want to keep my portfolio diversified, I decided that topping up my holding in this company when the share price looked particularly cheap could potentially prove to be a lucrative move. The FTSE 100 share in question is JD Sports (LSE: JD). Why am I so excited about it? Legendary investor Warren Buffett talks about buying into great companies at attractive prices. In my opinion, JD Sports currently ticks both those boxes. To start, consider the business. JD's focus is on selling clothes, shoes and other athletic goods. That is a large market and one that is likely to endure. The customer base also seems to be happy to shell out on pricy goods even when the economy is weak, something I see as a bonus although I do still fear that a deep enough economic downturn could hurt sales. JD Sports has built economies of scale and also has a substantial international reach. It has built a sizeable digital presence but not at the expense of abandoning bricks and mortar. In fact, it has been opening hundreds of stores in recent years and this month opened its largest one yet, at Manchester's Trafford Centre. With a strong brand, regular special products unique to JD, loyal customer base and ongoing growth plans, I reckon this is an outstanding business. But the road has had some bumps. Last year, JD sports issued profit warnings and it has reined in its aggressive store opening programme. A key supplier Nike has had a difficult few years and ongoing weakness in the brand's sales is a risk for JD Sports too given how big a proportion of its sales are of Nike products. But does that justify a share price in pennies? The FTSE 100 company has no debt (excluding lease liabilities) and a market capitalisation of £4.2bn. Yet last year's profit before tax and adjusting items came in at £0.9bn. To me, that makes the current share price in pennies look unreasonably cheap. In a tough market with uncertain risks like tariffs and unpredictable international shipping rates, the FTSE 100 company's profits this year and in subsequent years may not match last year's performance. However, I remain upbeat about the long-term story here. JD's investment in growth over recent years is paying rewards already as far as I am concerned. The next couple of years will see major sporting events that could help boost customer demand. The company has a proven model that is highly cash-generative and could help support further growth without the company needing to take on debt to fund it. As far as I am concerned, the current JD Sports share price is a bargain. I acted on it because I did not want to miss what I see as an excellent opportunity. The post I've been loading up on this cheap FTSE 100 share this week! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool C Ruane has positions in JD Sports Fashion. The Motley Fool UK has recommended Nike. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
