Latest news with #geopoliticalRisks
Irish Times
05-07-2025
- Business
- Irish Times
Profits rise at BluePoint Pharmaceuticals but Cork firm warns of impact of tariffs
Cork-based pharmaceutical company BluePoint Pharmaceuticals has recorded post-tax profit of $12 million (€10.2 million) from its Irish operations and paid a $25 million dividend but warned that 'geopolitical risks' could impact its operations. Turnover at the Little Island firm grew to $218.66 million in the year ending September 2024, according to recently filed accounts with the Companies Registration Office. Turnover grew by just less than $650,000 in 2024, but this came after a $38 million increase in turnover in 2023 to $218.01 million. The company is ultimately owned by one of the largest pharmaceutical companies in the world, New York-listed Cencora Inc, formerly known as AmerisourceBergen Corporation. The parent company reported global turnover in 2024 of $294 billion. READ MORE With a US-based parent company, the company warned that US import tariffs post a risk to its operations noting the economic measures could affect its input costs or have 'adverse impacts' on demand for its products and supply chains. The company's directors warned that, among other factors, the uncertainty around the impact of tariffs, market volatility and 'slower economic growth or recession' could impact the business in 2025. Gross profits widened slightly in 2024 as costs of sales decreased but distribution and administrative expenses cut back pretax profits to within $50,000 of 2023. The company paid $1.83 million in tax in the financial year, compared with $1.94 million the year prior. Post-tax profits grew from $12.232 million in 2023, to $12.379 million in 2024. HP Pharmaceuticals Unlimited paid a $25 million dividend to shareholders, having not proposed a dividend since it made a $17 million shareholder payout in 2022. Staffing at the Cork business remained static at 36 in the period, though total payroll costs increased from $4.7 million in 2023, to $5.5 million in 2024, primarily driven by overall wages and salaries increasing by 17 per cent. Salary paid to directors stood at $513,000.
Bloomberg
25-06-2025
- Business
- Bloomberg
Bloomberg Surveillance TV: June 25, 2025
- Matthew Hornbach, Global Head: Macro Strategy at Morgan Stanley - Amrita Sen, Founder and Director of Research at Energy Aspects - Jon Lieber, Head: Research at Eurasia Group - Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries Matthew Hornbach, Global Head: Macro Strategy at Morgan Stanley, joins for a look at inflation and outlook for the US economy. Amrita Sen, Founder and Director of Research at Energy Aspects, talks about the possibility of an oil spike amid uncertainty surrounding the Israel-Iran conflict. Jon Lieber, Head: Research at Eurasia Group, talks about rising geopolitical risks. Sheila Kahyaoglu, Managing Director: Equity Research at Jeffries, joins to discuss the outlook for the airline industry amid defense spending changes.
Bloomberg
24-06-2025
- Business
- Bloomberg
Hungary to Hold Rates as Price Curbs Fall Short: Decision Guide
Hungary's central bank is likely to keep its key interest rate unchanged for a ninth month, holding steady amid mounting geopolitical risks and persistently high inflation expectations. The National Bank of Hungary will keep its benchmark rate at 6.5% on Tuesday, according to all 20 economists in a Bloomberg survey. That's tied with Romania for the highest key rate level in the EU.
Bloomberg
23-06-2025
- Business
- Bloomberg
Selling Geopolitical Spikes Is Once Again a Winning Oil Trade
Oil's whiplash spike and retreat on Monday is only the latest example of traders selling into geopolitical risks, showing yet again how there's money to be made by 'fading the rally' in crude. After the Oct. 7 attack on Israel in 2023, the strikes on Saudi Arabia's Abqaiq processing plant in 2019, and the killing of Iranian general Qassem Soleimani in early 2020, crude futures were trading lower than before the incidents within 25 trading days.
Bloomberg
23-06-2025
- Business
- Bloomberg
IMF Georgieva on Eco Impact from MidEast Conflict
Kristalina Georgieva, Managing Director at IMF, says the impact of the Middle East escalation on energy supplies and prices is a key concern and shared her outlook on rising geopolitical risks facing the global economy. She speaks with Shery Ahn on "Bloomberg: The Asia Trade." (Source: Bloomberg)
