Stock Movers: Airbus, Gerresheimer, UBS
On this episode of Stock Movers: - Airbus shares rise as much as 2.3% after the planemaker said it was extending the upper range of its dividend payout ratio to 30-50% from the current level of 30-40%. - Gerresheimer said KPS Capital Partners is still in discussions with Warburg Pincus. Talks on a potential takeover 'are open-ended,' Gerresheimer said - UBS shares fell 1.7%, the worst performer in the Stoxx 600 Financial Services Index, after Morgan Stanley cut its recommendation on the Swiss lender to underweight from equalweight, saying that new capital demands imposed by Switzerland will impact shareholder returns.
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The Verge
17 minutes ago
- The Verge
VanMoof's co-founders have a new e-bike coming from Raleigh
Ties and Taco Carlier, who founded VanMoof as an alternative to Big Bike, are working for Accell Group, the Dutch cycling giant responsible for over a dozen bicycle brands including Batavus, Sparta, Carqon, and Raleigh. According to multiple sources, the first e-bike, developed for the Raleigh brand and pictured above, is nearing completion. The bike's development has been an open secret in my home city of Amsterdam. It's here that the brothers founded VanMoof in 2009, before the heavily-funded startup went bankrupt in 2023. It re-emerged later that year without its co-founders under McLaren Applied's stewardship. Various prototypes of the brand-less e-bike have been spotted in and around the city over the last year — sometimes nearby the home of one of the brothers. The prototypes match images of a Raleigh-branded e-bike that recently leaked. Those images were inadvertently made public (and later removed) by Amsterdam-based Uni_verse Studio, the digital production house that lists VanMoof as a client. The Raleigh commuter e-bike looks very VanMoof-ish, only better: the battery is removable for charging, it's belt driven, and the motor has been moved to the rear wheel. The result is an e-bike that closely resembles the Tenways CGO009. When I reached out to Raleigh for comment, Accell Group Brand Lead Ertu Bilgin said that the e-bike was developed with help from 'some former VanMoof team members,' but it's 'very much a product of the Accell Group.' In 2022, the Accell Group reportedly turned down a financial stake in VanMoof when approached by the rival co-founders, desperate for capital to offset almost €150 million in debt. With this new Raleigh e-bike, it would seem that Accell managed to avoid the sickly cow and still get its milk for free.
Business Insider
18 minutes ago
- Business Insider
EgyptAir expands fleet with six more Airbus A350s
EgyptAir has ordered six more Airbus A350-900 aircraft, bringing its total commitment for the model to 16. EgyptAir has ordered an additional six Airbus A350-900 aircraft, bringing its total commitment to 16 units. This purchase supports EgyptAir's expansion and sustainability objectives for long-haul travel. As of May 2025, the A350 model has secured over 1,390 orders from 60 global customers. EgyptAir has ordered six more Airbus A350-900 aircraft, bringing its total commitment for the model to 16, the airline's Chairman and CEO, Captain Ahmed Adel, announced on Wednesday. "It will enable us to meet the rising demand for long-haul travel, support our network expansion plans over the next five years, and contribute to Egypt's broader efforts to promote more sustainable air transport, ' said Captain Adel. The A350 is recognized as the world's most modern and fuel-efficient widebody aircraft, setting new standards in intercontinental travel. Powered by the latest generation Rolls-Royce engines, the A350-900 can fly up to 9,700 nautical miles (18,000 kilometres) non-stop while using 25% less fuel and producing 25% fewer carbon emissions than previous-generation aircraft. Commenting on the deal, Benoît de Saint-Exupéry, Airbus Executive Vice President of Sales, Commercial Aircraft, said: " This is the second time EGYPTAIR has placed an order for the A350 and the decision is a testament to the value the aircraft provides." The A350-900 features a spacious and modern Airspace cabin, offering wide seats, high ceilings, and soothing ambient lighting designed to enhance passenger comfort. In line with Airbus's sustainability goals, the aircraft is already capable of flying with up to 50% Sustainable Aviation Fuel (SAF), with a target to reach 100% SAF capability by 2030. At the end of May 2025, the A350 had won over 1,390 orders from 60 customers worldwide.
Forbes
23 minutes ago
- Forbes
Central Banks Can Learn From Stablecoins How To Make Better CBDCs
The Governor of the Banque de France, M. François Villeroy de Galhau, told a hearing of National Assembly Foreign Affairs Committee on 14th May this year that the digitalisation of the European economy is increasing the regions "reliance on non-European players, especially international networks and big tech". He is obviously right. He also went to talk about how the growth of stablecoins (dollar-backed and, as he sees it, promoted by the US government) means that there is a serious risk of 'de-Europeanisation' of the currency, making the need for a digital euro all the more urgent. The fact is that policymakers have a genuine concern that if US stablecoins gain widespread usage, there is a risk of 'digital dollarization' where platforms mean that participants will stay in flexible, liquid digital dollars and effectively undermine national sovereignty in monetary policy. M. Galhau's call to action here was stirring: 'We urgently need to shake off a certain economic nonchalance and overcome our stupefaction faced with the new US administration. We need a general mobilisation: the French and European response must be a collective one, with a fair sharing of the burden and a decisive pace of action'. (I also liked his comment on the digital euro that 'an ostensibly technical project masks an essential political dimension'. True enough, and I will return to this point later.) However, because I am a nerd about digital currency and obsessed with trying to understand the future of money, I cannot help but reflect on the implied equivalence of stablecoins and a central bank digital currency (CBDC), in this case the digital euro. He is far from the only person to manifest this incorrect equivalence. Last year, the U.S. Treasury Department said it was concerned about the growth of the stablecoins and it believed that privately issued stablecoins should eventually be replaced by a a CBDC. And in my book 'The Currency Cold War' (LPP: 2020) I too wrote that there will be 'competition between private asset-based currencies and public fiat-backed (or synthetic) currencies' because I had lazily categorised public CBDCs and public stablecoins together when, as the passage of time has made clear, they are actually very different things. As far as private asset-based currencies go, there is nothing to stop European companies from making euro stablecoins (indeed, Circle already does, although it is backed by US dollar assets) or indeed any other stablecoins. There are actually many different kinds of organisation looking at the idea. In the US, some of the biggest merchants are looking at issuing their own stablecoins in order to shift transactions away from the banking systems and potentially saving them considerable fees. According the Wall Street Journal, both Walmart, Amazon and Expedia as well as some airlines have explored whether to issue their own stablecoins (Surely I am not the only person who has wondered why retailers with large numbers of customers and massive hoards of data have not moved to disrupt the payments space.) More Monies. © Helen Holmes (2025). It is useful to check in and see what actual economists think about this shift to digital in this repsect. There is an excellent paper on this from the National Bureau of Economic Research on 'The Digitalization of Money' (working paper 26300, September 2019). In that paper Markus Brunnermeier, Harold James and Jean-Pierre Landau discuss how innovation unbundles the functions of money and, as they put it, renders the competition between currencies 'much fiercer'. They go on to discuss the role of platforms (ie, two-sided markets where buyers and sellers exchange multiple products) and explore their interaction with digital currencies. Their conclusion was that digital currencies associated with platforms will be far more differentiated than currencies are today because they will differ not only in their monetary functions but also in the functions provided by the associated platforms. As they put it, 'a currency's appeal will likely be governed by other platform features such as information processing algorithms, its data privacy policies and the set of counterparts available on the platform'. (This is a really interesting perspective on the dynamics of digital currency which set me thinking about how both governments and businesses will deal with the digital currencies and fuelled my long-held suspicion that we are heading into a world of more, rather than fewer, currencies.) It is important to see, though, that these private stablecoins do not replace CBDCs such as the digital euro, because public CBDCs have very different requirements. Stablecoins are about economics, whereas CBDCs are about economics, politics and social policy. CBDCs have to be available everyone, whereas stablecoins do not. CBDCs need to work offline otherwise serve as an adjunct to cash, whereas stablecoins do not. CBDCs should be redesigned to increase the net welfare, stablecoins do not. There is another aspect to the relationship between stablecoins and CBDCs that I also find rather interesting. Earlier this year, the Governor of the Bank of England, Andrew Bailey, said in a speech to a G30 seminar in Washinton that while commercial banks are the "best home" for innovation in retail CBDCs (I have to say that I am not clear why he thinks this), central banks should continue their preparations because "We have not yet seen enough evidence that the innovation will happen in commercial banks'. It is clear that a crucial driver of the stablecoin boom is innovation: the people building next-generation cool stuff in their dorm rooms, particularly cool stuff around agentic finance, are using stablecoins to exchange value because stablecoins are platform for innovation (which what a CBDC should be). This widespread permissionless innovation is good for all of us. I always thought that the innovation agenda was the most interesting element of the Bank of England's analysis: Given Britain's leading role in fintech, and the renewed commitment to the sector following the "Kalifa Review", I saw the issue of competition as critical. A point well made in the Bank of England's initial 2020 report was that the introduction of "smart money" (either by some form of smart contract usage or API interface) was really where the benefit of a CBDC would come from. CityUnited, a London think-tank, made that same point, arguing that digital Sterling must be "at the heart of Britain's efforts" to strengthen London's global role as a financial centre. It is no wonder that central banks are concerned about the rise of stablecoins, but I am sure that if they analyse the stablecoin boom, they can make the digital euro, digital pound and digital everything else better: not by copying stablecoins, but by learning from them.
