Core Viewpoint - Bekaert has agreed to acquire Bridgestone's tire reinforcement business in China and Thailand, enhancing its market position in the global tire reinforcement sector [1][2]. Group 1: Acquisition Details - The acquisition includes the transfer of two tire cord manufacturing sites from Bridgestone, specifically Bridgestone (Shenyang) Steel Cord Co., Ltd. in China and Bridgestone Metalpha (Thailand) Co. Ltd. in Thailand [3]. - The transaction is expected to close in the first half of 2026, pending regulatory approvals and customary closing conditions [1]. Group 2: Strategic Implications - This acquisition strengthens Bekaert's Rubber Reinforcement division, which has been a leader in the tire reinforcement market for over 70 years, and reinforces its strategic partnership with Bridgestone [2][4]. - The long-term supply agreement ensures continuity of high-quality tire reinforcement products, supporting Bekaert's global manufacturing footprint [2]. Group 3: Financial Impact - The transaction is projected to add approximately €80 million to Bekaert's consolidated annual sales [4]. - The cash consideration for the acquisition is €60 million, which will be funded from available cash balances [4].

This story was originally published on Facilities Dive. To receive daily news and insights, subscribe to our free daily Facilities Dive newsletter. U.S. office leasing hit a post-pandemic high in the fourth quarter of 2025, led by return-to-office momentum and large transactions that have surged as companies commit to long-term workplace strategies, according to a JLL Q4 report released Friday.  Almost all, or 97%, of Fortune 100 employees are subject to hybrid or full-time in-office requirements, leading ...

18 January 2026 | 6:29PM HKT Equity Research Muyuan Foods (002714.SZ) Leading low cost producer; strong free cash flow generation outlook; Maintain Buy 002714.SZ 12m Price Target: Rmb67.00 Price: Rmb47.33 Upside: 41.6% We revise down recurring net profit for Muyuan by 52% in 2025E, 21% in 2026E, and 14% in 2027E, to incorporate lower domestic benchmark hog pricing, and 1H25/3Q25 results. We expect earnings to recover in 2026E, driven by improving hog pricing from the bottom. Muyuan's competitive low-cost po ...

Investors should prepare for significant volatility in 2026, according to Fundstrat Global Advisors' Mark Newton. While maintaining a bullish year-end S&P 500 target of 7,300, Newton warns that the path there will include a “consolidation,” potentially triggering a market drawdown starting this spring.The Coming ConsolidationSpeaking to Yahoo Finance, Newton outlined a roadmap for the year that begins with strength but quickly pivots to turbulence.He predicts the current rally will persist for another six t ...

Core Viewpoint - Quanta Services Inc. is positioned as a strong investment opportunity for the next decade, with analysts projecting a recovery in 2026 following a challenging 2025 [1][2]. Group 1: Analyst Ratings and Price Targets - Bernstein has lowered its price target for Quanta Services to $428 from $432 while maintaining a Market Perform rating, reflecting a more optimistic outlook for 2026 [1]. - JPMorgan upgraded Quanta Services to Overweight from Neutral, increasing its price target to $515 from $457, indicating confidence in the company's future performance [3]. Group 2: Market Outlook and Economic Conditions - The year 2025 is expected to experience a typical cyclical downturn in core end markets, but 2026 is anticipated to see a reversal due to aligned monetary and fiscal policies that will stimulate growth [2]. - Positive earnings revisions are projected for 2026, with expectations of low-to-mid single-digit upside to current forecasts [2]. Group 3: Industry Trends and Company Positioning - The clean energy sector is expected to undergo market consolidation and regulatory shifts, with utility-scale renewables predicted to outperform as the industry moves towards larger projects [3][4]. - Quanta Services provides infrastructure solutions across various sectors, including electric & gas utilities, renewable energy, communications, and pipelines, both domestically and internationally [4].

Market Performance - The BSE Sensex declined by 345.91 points or 0.41% to close at 84,695.54, marking its fourth consecutive day of decline [3] - The NSE Nifty fell by 100.20 points or 0.38% to settle at 25,942.10, also registering its third day of decline [3] Sector Performance - Major laggards included Adani Ports, HCL Tech, Power Grid, Trent, Bharat Electronics, and Bharti Airtel [4] - Gainers in the market were Tata Steel, Asian Paints, Hindustan Unilever, and Eternal [4] Market Sentiment - Market appears to be lacking catalysts for further upside, with investors in holiday mode, indicating a potential consolidation phase [4] - Market sentiment is influenced by global cues and stock-specific developments, with light trading volumes observed [5] Foreign and Domestic Investment - Foreign Institutional Investors (FIIs) sold equities worth Rs 317.56 crore, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 1,772.56 crore [6] Global Market Influence - In Asian markets, South Korea's Kospi increased by over 2%, while Japan's Nikkei 225 and Hong Kong's Hang Seng indices ended lower [5] - Brent crude oil prices rose by 1.70% to USD 61.67 per barrel [6]

Core Insights - The impact of GDPR on companies varies significantly based on their size, with small IT firms experiencing a 12% drop in profits compared to a 4.6% decline for large firms, effectively acting as a 25% tax on smaller companies [3][5][9] Group 1: Regulatory Impact on Competition - Compliance infrastructure does not scale linearly with firm size, allowing large companies to spread fixed costs across larger revenue bases, while smaller firms face a disproportionate burden [2][5] - The GDPR led to a 17% increase in market concentration among web technology vendors within a week of implementation, as smaller service providers were dropped in favor of larger platforms [4][5] - Regulatory compliance costs create barriers to market entry that are unrelated to innovation or product quality, disproportionately affecting smaller competitors and new entrants [9][10] Group 2: Historical Context and Consequences - The Dodd-Frank Act aimed to prevent "too big to fail" banks but resulted in a compliance burden that disproportionately affected smaller institutions, leading to a 30% reduction in community banks from 2012 to 2019 [11][14] - Compliance costs from Dodd-Frank exceeded $38.9 billion by 2018, with community banks unable to absorb these costs efficiently, forcing them to hire external consultants [13][14] - The Food Safety Modernization Act similarly imposes heavy compliance costs on small farms, consuming approximately 60% of small farm profits, leading to agricultural consolidation [16][17] Group 3: Regulatory Design and Market Dynamics - Regulations that mandate specific compliance infrastructure create fixed costs that disproportionately burden smaller firms, potentially stifling innovation [19][30] - The financial sector's experience with Dodd-Frank illustrates how similar compliance requirements for institutions with vastly different risk profiles can lead to the closure of smaller banks while larger banks grow [20][21] - Proponents of market-oriented regulation argue for recognizing different risks and competitive pressures among institutions, suggesting that consequences for excessive risk should come through market discipline rather than compliance infrastructure [22][30] Group 4: Current Trends and Strategic Behavior - Established firms in the technology sector, such as major cryptocurrency exchanges, advocate for regulations that favor their existing compliance capabilities, creating barriers for newer competitors [25][26] - This behavior reflects a rational business strategy where incumbents shape regulations to protect their market position while promoting safety and consumer protection [27][28] - The consolidation resulting from regulatory complexity may represent policy failure rather than market failure, as regulations designed to constrain market power can inadvertently create it [28][29]

Core Insights - Shares of Jones Lang LaSalle Incorporated (JLL) have increased by 50% over the past six months, significantly outperforming the industry average of 21.2% [1] - The company is expected to benefit from strong business lines and favorable outsourcing trends, with a focus on technology-driven client engagement [1][5] - JLL's strategic investments in technology and market consolidation are anticipated to enhance its growth prospects [1][5] Financial Performance - JLL reported third-quarter 2025 adjusted earnings per share of $4.50, up from $3.50 in the prior year, reflecting a year-over-year revenue increase [2] - The company has raised its 2025 adjusted EBITDA guidance to a range of $1.375-$1.45 billion, compared to the previous range of $1.30-$1.45 billion, with an expected 16.4% rise to $1.38 billion [6] Business Segments - The Real Estate Management Services segment is positioned to benefit from increasing outsourcing trends, with a projected 11.3% year-over-year revenue increase in 2025 [9] - JLL's Project Management and Workplace Management lines are driving strong growth, supported by a healthy sales pipeline and stable contract renewal rates [2][9] Operational Strength - The company exited Q3 2025 with $3.54 billion in corporate liquidity and a net leverage of 0.8X, down from 1.2X in the previous quarter, indicating improved financial stability [10] - JLL's net debt decreased to $1.1 billion from $1.59 billion in the prior quarter, driven by positive free cash flow generation [10] Market Outlook - The positive trends in JLL's stock price are expected to continue in the near term, supported by strong client engagement and strategic investments [11]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. St. Louis-based Matter Family Office and Denver-domiciled IWP Family Office have decided to combine to create a multifamily office under the Matter name, overseeing more than $10 billion in client assets.   The combined firm launches with backing from private equity investor BW Forsyth Partners. The new firm will have more than 90 employees working in St. Louis, Denver and Dallas/Fort Worth ...

Group 1 - Telecom Italia (TIM) is open to any consolidation in the Italian telecoms market [1] - The head of Telecom Italia indicated that the company would welcome consolidation even if competitors initiate the process [1]