Investment Rating - The report indicates a continued expectation of USD weakness, suggesting a favorable environment for US multinational companies, particularly large caps, due to their foreign revenue exposure [5][82]. Core Insights - The report posits that the USD's weakening trend is at an intermission, with a projected net decline of 20% expected [3][8]. - A weaker USD is viewed as a significant, underappreciated tailwind for US equity earnings, especially for large-cap companies that derive a substantial portion of their revenue from foreign markets [5][82]. - The report highlights that the USD remains at the upper end of historical ranges, and pro-cyclicality from hedging and index rebalancing are important amplifying factors [5][7]. Summary by Sections USD Weakness and Economic Implications - The report forecasts that USD weakness will persist, driven by a convergence in US rates to global peers and increased risk premiums from FX hedging [5][6]. - Limited economic impact from recent USD weakness is noted, but further depreciation could push headline CPI and GDP, with an estimated increase of 5 basis points to CPI and GDP for every 1% depreciation [5][63]. FX Hedging and Corporate Exposure - FX hedges significantly impact a company's ultimate USD exposure, but limited disclosures complicate forecasting [5][96]. - The report emphasizes the importance of subjective data from earnings calls to understand corporate currency policies and hedging strategies [44][96]. Sector and Industry Analysis - The report identifies sectors with high foreign revenue exposure, including Tech, Materials, and Industrials, as key beneficiaries of dollar weakness [88][89]. - It highlights that larger companies, such as those in the S&P 500, earn approximately 40% of their revenue abroad, positioning them to benefit more from a weaker dollar [84][82]. Trade Ideas - Specific trade ideas are provided, including maintaining long positions in EUR/USD and short positions in USD/JPY and USD/TRY, reflecting the anticipated continued weakness of the USD [7].

Fusion Energy Investment - Google's long-term bet on fusion energy through partnership with CFS_energy [1] - Largest direct corporate purchase for fusion energy [1] - New investment to help CFS prove out their promising technology and move it closer to commercialization [1]

Group 1 - Infortar will pay a dividend of 1.5 euros per share for the 2024 financial year, with the payment date set for 15 July 2025 [1][2] - The record date for shareholders entitled to dividends is 4 July 2025, and the ex-date is 3 July 2025 [1] Group 2 - Infortar operates in seven countries, focusing on maritime transport, energy, and real estate, and owns a 68.47% stake in Tallink Grupp and a 100% stake in Elenger Grupp [3] - The company has a real estate portfolio of approximately 141,000 square meters and operates in various sectors including construction, mineral resources, agriculture, and printing [3] - Infortar comprises 110 companies, including 101 subsidiaries, 4 affiliated companies, and 5 subsidiaries of affiliated companies, employing a total of 6,296 people [3]

Grid Battery Growth - US grid battery power is experiencing rapid growth, projected to increase from under 2 GW in 2020 to nearly 30 GW by 2025 [1] Market Share & Impact - In California, battery packs supplied 26% of evening demand in June, surpassing gas plants [1]

A LNG tanker, which docked at Russia’s sanctioned Arctic LNG 2 plant last week, appears to have left the facility and is heading toward the northern port of Murmansk https://t.co/lRnDrhdqkf ...

Core Points - The Shandong Provincial Science and Technology Conference highlighted significant achievements in technology and innovation, with awards given to various projects and individuals for their contributions to science and technology [1][3][4]. Group 1: Awards and Recognitions - Shandong University and Shandong First Medical University received the highest provincial science and technology awards for their groundbreaking work in carbon capture and other key technologies [1]. - A total of 51 natural science award achievements showcased interdisciplinary collaboration, with 21 projects demonstrating clear cross-disciplinary characteristics [3]. - The conference awarded 27 projects in the first prize category, representing 43% of the total, across 18 strategic fields including artificial intelligence and integrated circuits [4]. Group 2: Technological Innovations - The establishment of the first domestic million-ton CCUS demonstration project at Shengli Oilfield supports China's dual carbon strategy and green transition [4]. - The development of a high-performance broadband signal analyzer addresses high-precision measurement challenges for advanced signal technologies like 5G and 6G [4]. Group 3: Talent Development - The average age of primary contributors to awarded projects is 42.8 years, indicating a younger talent pool compared to previous years, with a notable increase in the number of contributors under 45 [4]. - The province has seen a significant increase in high-level talent, with 168 academicians residing in Shandong and over 8,700 national and provincial leading talents [5]. Group 4: Investment and Economic Impact - In 2023, Shandong's total R&D investment reached 238.6 billion yuan, a 9.4% increase, surpassing the national growth rate [5]. - The proportion of high-tech industry output value in the province's industrial output is projected to reach 53.32% in 2024, exceeding the "14th Five-Year Plan" target by 3.3 percentage points [5]. Group 5: Policy and Infrastructure - Shandong is a pilot province for several reforms in technology evaluation and talent classification, aiming to enhance the innovation ecosystem [5]. - The establishment of the Shandong Technology Market provides a one-stop service for technology transfer, facilitating collaboration with over 100 universities and research institutions [5].

Centrica is in advanced discussions to acquire a 15% stake in the UK’s Sizewell C nuclear power project, according to a person familiar with the matter https://t.co/yFonuyhACH ...

Core Viewpoint - The article emphasizes the importance of developing new productive forces and modern industrial systems in Guangdong, with a focus on integrating financial services into the manufacturing industry to support small and medium-sized enterprises [2][5]. Group 1: Financial Services Innovation - Zhejiang Commercial Bank's Guangzhou branch is innovating financial services by creating scenario-based financial models that integrate deeply into the core of the industrial chain, specifically targeting small and medium-sized enterprises [2][5]. - The bank has developed differentiated financing solutions for key industries in Guangdong, including energy, construction, automotive, telecommunications, and home appliances, to enhance the industrial ecosystem [5][6]. Group 2: Support for Technological Innovation - The bank offers specialized financial products such as "Specialized and Innovative Loans" and "Co-Investment Loans" to support technology enterprises at various stages of development, ensuring comprehensive financial services throughout their lifecycle [6][7]. - By May 2025, the bank had served over 1,800 technology finance enterprises and more than 700 specialized and innovative enterprises, providing substantial financial support for technological innovation in Guangdong [6]. Group 3: Financing for Industrial Parks - The bank has implemented a comprehensive financial service model for industrial parks, addressing the financial needs of enterprises within these parks, with over 257 small and micro parks served and a total loan amount exceeding 29.5 billion [7]. - The introduction of a digital service system has improved access to financing for small and micro enterprises, with nearly 190 million in digital loans disbursed in 2024 [7]. Group 4: Globalization Support - The bank is addressing challenges faced by Guangdong enterprises in their global expansion, such as difficulties in overseas account opening and payment efficiency, by providing innovative cross-border services [8]. - By the end of 2024, the bank's international settlement and foreign exchange transaction volumes exceeded 35.3 billion and 23.3 billion, respectively, supporting the international development of Guangdong enterprises [8].

Core Viewpoint - DMC Global Inc. has appointed John R. "Jay" Doubman as an independent director, bringing over 30 years of leadership experience in industrial, building products, and specialty chemicals sectors [1][4]. Company Overview - DMC Global operates innovative, asset-light manufacturing businesses that provide unique, highly engineered products and differentiated solutions [5]. - The company has established leadership positions in various markets, including architectural building products, global energy industry, and industrial infrastructure [5]. Leadership Experience - Mr. Doubman is currently the CEO of ICP Group, a manufacturer of specialty coatings, adhesives, and sealants for the construction industry, where he successfully executed a turnaround strategy [2]. - His previous roles include senior executive positions at Ecore International, Cabot Corporation, and CertainTeed Corporation, with a focus on corporate strategy, mergers and acquisitions, and international operations [3]. Strategic Alignment - DMC's executive chairman, James O'Leary, emphasized that Mr. Doubman's operational expertise and strategic insight align well with DMC's diversified industrial portfolio and growth objectives [4]. - Mr. Doubman expressed his commitment to guiding DMC's future growth and success, highlighting the company's differentiated, industry-leading businesses [4].

Core Viewpoint - Allete's shares have entered oversold territory with a Relative Strength Index (RSI) reading of 29.7, indicating potential buying opportunities as heavy selling may be exhausting [1][2][3] Group 1: Stock Performance - Allete shares traded as low as $63.555, with a current trading price of $63.65, reflecting a decrease of approximately 0.3% on the day [1][3] - The 52-week range for Allete shares is between $61.51 (low) and $66.40 (high) [3] Group 2: Technical Indicators - The average RSI for the energy stocks universe is 51.1, while WTI Crude Oil has an RSI of 47.5, and Henry Hub Natural Gas is at 41.4 [2] - The 3-2-1 Crack Spread RSI is currently at 45.6, indicating a relatively stronger position compared to Allete's RSI [2]