
Euronext Seeks to Court Defense Company IPOs to Tap Into Military Boom
European stock exchange operator Euronext NV is seeking to court defense company listings and eager investors to tap the surge in military spending.
The company has invited potential investors for the Euronext Aerospace and Defence Funding Days on July 7-8 to meet virtually with potential firms who may have plans for an initial public offering, according to an invitation seen by Bloomberg News. After the virtual meetings, Euronext will seek feedback on each company to gauge the 'IPO-readiness' of the firms.

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CNBC
3 hours ago
- CNBC
How China could shut down auto factories around the world
China's dominance of the global supply chain is starting to hurt automakers. On April 4, the country cut off exports of a class of minerals called "heavy rare earth elements," and it sent the global auto industry into a panic. Rare earths are a class of 17 elements that have become indispensable in all kinds of applications — everything from fighter jets and submarines, to smartphones and appliances. You can even find them in sports equipment, like tennis rackets and baseball bats. They are also, of course, essential to the modern automobile. Gas burning cars use them to filter pollution through the vehicle's catalytic converter. Electric vehicles use them in motors and batteries. "Rare earths are really critical, and not just for electric vehicles," said Gracelin Baskaran, director of the Critical Minerals Security Program at the Center for Strategic and International Studies. "They are in your seat belt, your steering wheels, various parts of your electrical components. You are not going to manufacture a car without rare earths." Rare earths are split into further categories, based on their atomic weight. Light rare earths are easier to source. It's the medium and heavy ones that China has totally monopolized. China controls about 70% of the world's rare earth mines. But where it really dominates is in processing. The name "rare earth elements" is a bit misleading — the elements themselves are not that rare in nature. What makes them "rare" is the complex and difficult process of separating them from the rock they are embedded in, and from each other. China controls about 90% of the world's rare earth processing, and has a total monopoly on the processing of heavy rare earths. Since at least 2023, China has been tightening its grip on several of the key critical minerals it provides for the world, Baskaran said. Still, the April 4 export restrictions shocked the automotive world. "It came out of nowhere," said Dan Hearsch, managing director at AlixPartners. "Nobody had any time to react to it. I mean, within a matter of weeks, all of the material in the pipeline was out." European automakers shut down factories. Ford had to idle production of its popular Explorer SUV. This month, China started permitting some access to companies that supply parts to some automakers. And this week the Trump administration said it had reached a deal to expedite rare earth and magnet shipments to the U.S. Still it is unclear how durable these deals will be. "We're not out of the woods yet," Baskaran said. "There is a lot of volatility in the U.S.-China relationship in between tariffs and mineral restrictions. We've seen China ramp up restrictions over two years. Rare earths are just the newest one." There are longer-term solutions if China cuts off access again: recycling, developing other sources and innovation, for example. This crisis may even spur the industry to take action that reduces dependence on China. But this rare earths crisis is just the latest in a series of supply disruptions over the last several years. Hearsch said it will likely get worse. "Today it's rare earths," Hearsch said. "But tomorrow it can and will be something else that maybe we're not thinking about, that maybe isn't even all that valuable and suddenly will be." Watch the video to learn more


Business Insider
13 hours ago
- Business Insider
London Tribunal Rules that Visa and Mastercard's (MA) Fees Violate Competition Law
Visa (V) and Mastercard (MA) are once again under legal fire as a London tribunal ruled that their default multilateral interchange fees—charges applied to retailers each time a customer uses one of their cards—violate European competition law. These fees, set by Visa and Mastercard rather than negotiated individually, have long been criticized by retailers for being excessive and non-transparent. The latest ruling comes from the Competition Appeal Tribunal in the U.K., which sided unanimously with hundreds of merchants who brought the case after a decade-long legal battle over these charges. Confident Investing Starts Here: The law firm Scott+Scott, which represents the claimants, called the ruling a major victory. David Scott, the firm's global managing partner, said that the decision was 'a significant win for all merchants who have been paying excessive interchange fees to Visa and Mastercard.' According to the firm, this is the first time a court has found that both commercial card fees and inter-regional (cross-border) multilateral interchange fees violate competition law. The ruling confirms that Visa and Mastercard's fees unlawfully restricted competition by setting default rates that retailers had little choice but to accept. Despite the setback, both Visa and Mastercard pushed back strongly against the ruling. A Visa spokesperson said that the company 'continues to believe that interchange is a critical component to maintaining a secure digital payments ecosystem that benefits all parties, including consumers, merchants and banks.' Mastercard also criticized the decision by calling it 'deeply flawed' and stating that it would seek permission to appeal. A second phase of the litigation is still underway, which will determine whether merchants passed on the cost of these interchange fees to consumers through higher prices. That upcoming trial could influence the amount of any potential damages. Which Payment Stock Is the Better Buy? Turning to Wall Street, out of the two stocks mentioned above, analysts think that Mastercard stock has more room to run than Visa. In fact, Mastercard's price target of $639.86 per share implies 16.1% upside versus Visa's 11.8%.
Yahoo
19 hours ago
- Yahoo
Valeo to supply ‘Smart Safety 360' to European OEM
Valeo has been chosen to supply its Valeo Smart Safety 360 (VSS360) to a European original equipment manufacturer (OEM) vehicle platform. The integration of VSS360 is expected to enhance the safety around vehicles and streamline the development of autonomous driving capabilities. The system combines hardware, software development expertise, and system integration skills to ensure comprehensive safety around vehicles. It is designed to minimise accidents, enhance driver assistance, and contribute to the progression of autonomous vehicles while adhering to safety standards. Offering a 'cost-optimised' solution, the Valeo Smart Safety 360 is claimed to provide best-in-class driving and parking performance in a scalable 1-box or 2-box ADAS configuration. It eliminates individual electronic control units (ECUs) and minimally impacts the architecture of the vehicle. The system is tailored to scale from basic EU General Safety Regulation (GSR) compliance to advanced Level 2+ functions, and complies with the US Federal Motor Vehicle Safety Standard 127. For the European premium OEM, the Valeo Smart Safety 360 is said to ensure peak performance and system dependability through the integration of cameras, radars, and ultrasonic sensors, all developed, manufactured, and integrated by the company, leveraging computer vision technology. Valeo noted that radar fusion will be incorporated into its smart front camera, and an extra Parking ECU will facilitate hands-free parking, manage up to four surround-view cameras, and control 12 ultrasonic sensors. Valeo BRAIN division CEO Marc Vrecko said: 'This new award for Valeo Smart Safety 360 underscores Valeo's leading position as a comprehensive provider of Advanced Driver Assistance Systems solutions (ADAS), capable of meeting the stringent safety and performance demands of the automotive industry. It reflects our constant drive to innovate for ever-safer mobility.' Earlier this year, Stellantis and Valeo introduced Europe's first remanufactured LED headlamp alongside a remanufactured infotainment display screen. "Valeo to supply 'Smart Safety 360' to European OEM" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio