AGP Executive Report
Last update: 11 hours agoMercedes-Benz Earnings: Mercedes reported a 13.5% jump in quarterly net profit to €1.09bn, but its passenger-car business slid 26% and the company booked a €704m write-down tied to China, warning the tough market may persist. Market Mood: European stocks stayed subdued as tech sold off on chip concerns, while luxury and consumer names gained support; oil’s drop helped sentiment. Barclays APAC Push: Barclays said it’s beefing up Asia-Pacific investment banking, targeting fee-rich advisory and M&A as equity and debt capital markets activity rises. Stellantis Deal: Stellantis agreed to sell Free2move car-sharing to German investor Mutares, as it refocuses on core vehicle production. Crypto Cost Cuts: Uphold cut staff by 17% and is shifting toward institutional crypto infrastructure and multi-asset services. Connectivity Funding: German FTTH operator Westconnect raised €1.2bn to expand its network. Cyber Sovereignty: Zscaler and Schwarz Digits launched a sovereign Zero Trust SASE offering hosted in German data centers. Defense Budget Signal: Germany’s draft 2027 munitions spending would fall, adding pressure to suppliers like Rheinmetall.
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