China Set to Cancel Part of EU Summit in Latest Strain on Ties
The second day of the two-day summit in China is set to be canceled at Beijing's request, according to people with knowledge of the planning, who asked not to be named discussing private information. Those plans could change by the time they're finalized, one of the people said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
15 minutes ago
- Wall Street Journal
‘Tariff Man' Is Back for More ‘Liberation'
President Trump sure knows how to spoil an economic mood. Three days after he signed the GOP's big budget bill, saving the economy from a scheduled $4.5 trillion tax increase, Mr. Trump was back playing the role of Tariff Man. On Monday he announced 25% tariffs on Japan and South Korea, while adding to renewed will-he-or-won't-he uncertainty for the U.S. economy and trading partners. In letters to Japan's Prime Minister and South Korea's President, Mr. Trump huffs and puffs again about bilateral trade deficits, which he mistakenly thinks are a sign of foreign exploitation. 'We must move away from these longterm, and very persistent, Trade Deficits,' he says. Hence the new 25% tariffs, starting Aug. 1. This nearly matches Mr. Trump's paused 'Liberation Day' duties on the two countries, except Japan was supposed to get only 24%. Later in the day he sent tariff letters to a dozen other, less economically significant, countries.
Yahoo
34 minutes ago
- Yahoo
Geo Energy Resources Limited's (SGX:RE4) top owners are retail investors with 54% stake, while 27% is held by private companies
Significant control over Geo Energy Resources by retail investors implies that the general public has more power to influence management and governance-related decisions A total of 18 investors have a majority stake in the company with 46% ownership Insiders have bought recently Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Every investor in Geo Energy Resources Limited (SGX:RE4) should be aware of the most powerful shareholder groups. We can see that retail investors own the lion's share in the company with 54% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). And private companies on the other hand have a 27% ownership in the company. Let's take a closer look to see what the different types of shareholders can tell us about Geo Energy Resources. See our latest analysis for Geo Energy Resources Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in Geo Energy Resources. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Geo Energy Resources, (below). Of course, keep in mind that there are other factors to consider, too. Hedge funds don't have many shares in Geo Energy Resources. Looking at our data, we can see that the largest shareholder is Master Resources International Limited with 15% of shares outstanding. In comparison, the second and third largest shareholders hold about 7.2% and 6.7% of the stock. Our studies suggest that the top 18 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There is a little analyst coverage of the stock, but not much. So there is room for it to gain more coverage. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own a reasonable proportion of Geo Energy Resources Limited. It has a market capitalization of just S$467m, and insiders have S$63m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling. The general public, mostly comprising of individual investors, collectively holds 54% of Geo Energy Resources shares. With this amount of ownership, retail investors can collectively play a role in decisions that affect shareholder returns, such as dividend policies and the appointment of directors. They can also exercise the power to vote on acquisitions or mergers that may not improve profitability. Our data indicates that Private Companies hold 27%, of the company's shares. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand Geo Energy Resources better, we need to consider many other factors. Be aware that Geo Energy Resources is showing 1 warning sign in our investment analysis , you should know about... Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
35 minutes ago
- Yahoo
China's Global Mining Expansion Accelerates
China has been buying mining operations around the world for years to sate its appetite for raw materials, which remains much stronger than what it can produce domestically. Over the past couple of years, however, this shopping spree has accelerated—Chinese investors are in a rush. In 2023, Chinese companies invested some $16 billion in mines globally, and this did not include minority stake purchases, the Economist reported in November last year. The publication listed several large deals, including a $5-billion investment in a copper mine in Afghanistan, a $1-billion investment in a gold operation in Ghana, and an investment commitment for $5 billion in Zambia over the five years to 2028. The investment list also included the acquisition of a stake in the largest copper mine in the Philippines, Tampakan. Clearly, copper is a key investment destination for Chinese companies given the wide use of the basic metal in everything from construction to electric vehicles. Back in 2023, more than half of Chinese companies' foreign mining investments focused on copper. But there is also another major investment destination for Chinese buyers: critical minerals. China is the biggest mining investor in the Democratic Republic of the Congo, which is home to the largest cobalt reserves in the world, at 6 million tons out of a global total of 11 million tons. And cobalt is just the start. The DRC has the highest-grade copper ore in the world, with the copper content exceeding the global average four times, according to an overview of the country's mineral resources compiled by bne Intellinews. Rare earth minerals are also abundant, along with most of the elements in the periodic table. It is little surprise that China dominates the mining investment landscape there. Yet it is still investing ever more elsewhere as well. Last year, a report produced by a Chinese and an Australian university showed that global mining investment by Chinese companies had broken a record. Commitments under the Belt and Road Initiative in 2024 reached $21 billion, the report said, which was the highest since the initiative was launched, back in 2013. 'It is likely that Chinese policymakers are also welcoming strategic control by Chinese – often private – companies in critical minerals,' one of the authors of the report, Christoph Nedopil from Griffith University in Australia, said. There are no signs that the investment rush will weaken anytime soon for the world's largest processor of critical minerals and largest investor in energy transition technology, even as the West shows signs of awareness and unease about this total dominance in an area that most of the West, except the United States under Trump, considers a top priority for the future. The Financial Times reported this month that Chinese companies with mining interests abroad had stepped up activity markedly in 2024. The publication cited analysts as saying one big reason for that activity was precisely that awareness among Western governments that China was becoming too dominant in the sector—so they were starting to shut investment doors in its face. There has been 'more activity in the past 12 months because Chinese groups believe they have this near-term window . . . They're trying to get a lot of M&A done before geopolitics get difficult,' Appian Capital Advisory founder, Michael Sherb, told the FT. The 'geopolitics' referenced in the statement involves the growing mistrust of China by governments in Europe and North America, which is leading to a tightening of investment conditions—even as Europe considers closer cooperation with China on the energy transition. 'In the next few years we are likely to continue to see a healthy level of dealmaking activity from Chinese mining companies,' Standard Chartered's global head of metals and mining, Richard Horrocks-Taylor told the Financial Times. The publication cited two recent deals as examples, the $1.2-billion deal sealed by Zijin Mining for a gold mine in Kazakhstan and the $420-million acquisition of Appian Capital Advisory's Brazilian copper and gold mine, Vale Verde, by China's Baiyin Nonferrous Group. To be fair, Chinese companies have not exactly been scrambling to get a piece of mining action in Canada or the U.S. for reasons more to do with regulation than geopolitics. They have focused on Africa and Asia, as well as Latin America—all fertile ground for infrastructure investments under the Belt and Road Initiative. But China has given Western governments a new reason for worry now: Chinese companies have developed sophisticated ways of beating Western rivals for mining assets in emerging markets. Because the West also has to rely on resources in Africa, Asia, and Latin America—except perhaps Canada, which has the capacity for a reasonable degree of self-sufficiency in at least some critical metals and minerals. Perhaps, then, Chinese companies are right to go on a shopping spree while the governments of their Western rivals mull over their next steps and whether it might be a good idea to step up government-backed investments in foreign mining operations. By Irina Slav for More Top Reads From this article on 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
