Core Insights - Capgemini reported full-year revenue of 22.47 billion euros ($26.65 billion) for 2025, exceeding its own target due to strong growth in the fourth quarter driven by AI-powered business process services [1][1] - The company achieved a revenue growth of 3.4% at constant exchange rates, surpassing the October guidance of 2% to 2.5% growth [1][1] - Fourth-quarter sales increased by 10.6%, significantly boosted by the contributions from the newly acquired WNS and Clou4C units [1][1] - Generative and agentic AI accounted for over 10% of group bookings in the fourth quarter, up from approximately 5% earlier in the year [1][1] Financial Performance - Full-year revenue reached 22.47 billion euros ($26.65 billion) in 2025, marking a 3.4% growth at constant exchange rates [1][1] - The fourth quarter saw a notable sales surge of 10.6%, indicating strong demand and effective integration of recent acquisitions [1][1] Strategic Developments - The acquisition of WNS and Clou4C has made a "significant contribution" to Capgemini's revenue growth, highlighting the importance of strategic acquisitions in enhancing service offerings [1][1] - The increase in AI-related bookings reflects a growing trend in the industry towards integrating advanced technologies into business processes [1][1]

Core Viewpoint - Safran forecasts increased revenue and earnings for 2026, driven by strong aftermarket demand for civil jet engines [1] Financial Performance - Safran projects recurring operating profit for 2026 to be between 6.1 billion to 6.2 billion euros ($7.2 billion to $7.4 billion), with an estimated revenue increase in the "low to mid teens," specifically 12% to 15% [1] - For 2025, Safran reported a 26% rise in recurring operating income to 5.2 billion euros, with a margin gain of 1.5 percentage points to 16.6% [1] - Adjusted revenue for 2025 rose 15% to 31.33 billion euros, and the company generated 3.92 billion euros in free cash flow [1] Market Demand - Services revenue for civil engines increased by 30% in U.S. dollar terms, attributed to rising demand for air travel and interest in older jets amid production delays [1] - Positive momentum in the defense sector is noted, partly due to new orders for the Rafale fighter jet, for which Safran manufactures engines [1] Long-term Projections - Safran has upgraded its financial targets for 2028, raising the forecast for recurring operating income to 7.0 billion to 7.5 billion euros, up from the previous estimate of 6.0 billion to 6.5 billion euros [1]

Core Insights - Reju, a textile recycling firm owned by Technip Energies, plans to build a polyester recycling plant in southwest France to address fast fashion's waste problem [1] - The new plant aims to convert used textiles into new polyester fibers, with similar projects planned in the Netherlands and the United States [1] - The textile recycling industry is still in its early stages, facing high costs and challenges in scaling operations [1] Company Developments - Reju's new plant in Lacq is expected to target around 50,000 metric tons per year of recycled polyester, with investments estimated between 300 million and 400 million euros ($355-475 million) per site [1] - CEO Patrik Frisk emphasized the mission to transform textile waste into valuable resources, highlighting the need for sustainable practices in the industry [1] - Several brands are reportedly lined up to sign purchase agreements with Reju, indicating potential demand for recycled materials [1] Industry Context - The production of polyester, primarily derived from petrochemicals, has surged in recent years, driven by its low cost and durability [1] - Fast fashion retailers like H&M and Inditex are investing in textile-to-textile recycling startups to enhance sustainability and comply with stricter regulations [1] - Currently, 98% of recycled polyester is sourced from plastic bottles, which has drawn criticism for diverting materials from established recycling loops [1]

Core Viewpoint - Sanofi's new CEO, Belén Garijo, faces significant challenges in revitalizing the company's drug pipeline and addressing investor concerns, particularly regarding the reliance on the eczema treatment Dupixent, which constitutes over 30% of revenues [1] Group 1: Leadership Transition - Belén Garijo, previously CEO of Merck KGaA, will become Sanofi's first female CEO and the only woman leading a large-cap global drugmaker after GSK's Emma Walmsley stepped down [1] - Garijo's appointment follows the resignation of Paul Hudson, whose efforts to turn around Sanofi were hindered by a lack of new blockbuster drugs, leading to a 25% decline in Sanofi's stock over the past year [1] Group 2: Drug Pipeline Challenges - Sanofi's primary challenge is to replace Dupixent, as the company has not identified a successor drug ahead of patent expirations in the early 2030s, which has negatively impacted share prices [1] - Vaccine sales, which account for nearly 20% of revenues, have also declined, exacerbated by a more skeptical attitude towards vaccines from the U.S. health administration [1] Group 3: R&D and Investor Expectations - Investors and analysts emphasize the need for Garijo to enhance R&D productivity, as her previous tenure at Merck KGaA was marked by mixed results in drug development, with only three new drugs launched [1] - Garijo is recognized for her operational execution and detail-oriented approach, but there are concerns about her ability to reinvigorate Sanofi's R&D department given her stronger background in operations than in scientific research [1]

Group 1 - Deutsche Bank plans to hire up to 50 relationship managers in its emerging markets private banking unit in 2024, aiming to increase its wealth footprint in the Gulf region and North Asia [1] - The private bank intends to grow its emerging markets front office headcount by 50% over the next three years, with a significant portion of the 250 bankers to be hired focusing on this franchise [1] - Global financial wealth reached an all-time high of $305 trillion in 2024, indicating a growing market for private banking services [1] Group 2 - There is a rising trend among wealthy clients for diversification in asset allocation, with increased interest in wealth centers like Switzerland, Luxembourg, and the UK, as geopolitical risks influence investment decisions [1] - Lombard lending, where clients borrow against their investment portfolios, is gaining traction, with a global market size of approximately $4.3 trillion as of 2024 [1] - The private bank is focusing on Lombard lending as a means to expand its assets under management, reflecting a growing appetite for leveraging among clients [1]

Skip to main content Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Indian IT stocks extend slump, head for worst week in nearly six years February 13, 20264:37 AM UTCUpdated ago By Reuters Stockbrokers trade at their terminals at the National Stock Exchange (NSE) in Mumbai, India, October 21, 2025. REUTERS/Francis Mascarenhas Purchase Licensing Rights, opens new tab Feb 13 (Reuters) - Shares of India's software exporters fell 4.6% on Friday, dragged by a glob ...

Core Insights - GE Aerospace technician Suresh Sinnaiyan has over a decade of experience in repairing jet engine compressor blades, showcasing the company's commitment to skilled craftsmanship and precision in aerospace manufacturing [1] Group 1 - The technician's role involves guiding compressor blades across a sanding belt with practiced precision, highlighting the importance of manual skills in the aerospace industry [1]

Core Viewpoint - The surge in sulphuric acid prices, driven by supply disruptions, has significantly impacted China's copper smelters, shifting their profit reliance from traditional smelting fees to sulphuric acid sales, which may not be sustainable in the long term [1]. Industry Summary - Demand for sulphuric acid is increasing in the battery and mining sectors, tightening the market [1]. - Sulphuric acid prices have surged approximately 500% over the past 2.5 years, providing an estimated $1.5 billion boost to China's copper smelters last year as traditional smelting fees declined [1]. - The price of sulphuric acid reached about 1,045 yuan ($145) per metric ton in early January, compared to 464 yuan a year earlier [1]. - Sulphuric acid now accounts for over 64% of smelters' revenue from byproducts and other non-TC/RC sources, up from a historical 27% [1]. Company Summary - Yunnan Copper reported sulphuric acid sales of 790 million yuan ($114 million), which constituted about a quarter of its gross profit, despite acid contributing roughly 1% of revenue [1]. - Daye Nonferrous expressed concerns about the uncertain outlook for sulphuric acid prices, indicating a cautious approach among smelters regarding negative TC/RCs during contract negotiations [1]. - Analysts predict a potential decline in sulphuric acid prices by 10-30% in the coming months due to demand destruction from higher prices and new projects starting [1].

Core Viewpoint - Oil prices are experiencing a second weekly decline due to reduced concerns over a potential conflict with Iran and forecasts indicating that supply will exceed demand this year [1] Group 1: Oil Price Movements - Brent crude oil futures increased by 3 cents, or 0.04%, to $67.55 per barrel, while U.S. West Texas Intermediate (WTI) crude rose by 1 cent, or 0.02%, to $62.85 after previous declines of 2.7% and 2.8% respectively [1] - Brent prices are projected to drop by 0.8% this week, while WTI is expected to fall by 1.1% [1] Group 2: Geopolitical Factors - Concerns regarding a U.S. attack on Iran over its nuclear program had initially driven prices higher, but comments from U.S. President Donald Trump suggesting a potential deal with Iran led to a decrease in prices [1] - The reduction in geopolitical risk is attributed to the U.S. seeking more time to negotiate a nuclear deal with Iran [1] Group 3: Supply and Demand Dynamics - The International Energy Agency (IEA) reported that global oil demand growth for this year will be weaker than previously expected, with supply anticipated to exceed demand [1] - A significant increase in U.S. crude stockpiles and expectations of rising Venezuelan oil supply, projected to increase from 880,000 barrels per day to about 1.2 million barrels per day, contributed to the decline in prices [1] - The U.S. Treasury is set to issue more allowances easing sanctions on Venezuelan energy, which could further impact supply dynamics [1]

Core Viewpoint - Elliott Investment Management opposes the tender offer from Toyota Motor for Toyota Industries, claiming the offer price is too low and detrimental to minority shareholders [1]. Group 1: Tender Offer Details - Toyota Motor initially offered 16,300 yen per share for Toyota Industries, later increasing the bid to 18,800 yen in January [1]. - The tender offer was set to close on Thursday, with 33.1% of shares tendered two and a half hours before the deadline [1]. - To succeed, the bid requires acceptance from 42.01% of minority shareholders, excluding Toyota Motor's 24.66% stake [1]. Group 2: Market Reaction - Following the announcement of the tender offer extension, Toyota Industries shares surged, reaching a record high of 20,355 yen per share [1].