UK 30-Year Inflation-Linked Yields Hit Highest Since 1998
The rate on 30-year linkers — often known as the real yield — rose to 2.54%, the most since 1998. That surpassed a high recorded in September 2022, when former Prime Minister Liz Truss's economic plans triggered a fire-sale dynamic among leveraged pension fund strategies.
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Yahoo
44 minutes ago
- Yahoo
NKT AS (NRKBF) Q2 2025 Earnings Call Highlights: Record EBITDA and Upgraded Revenue Guidance ...
Release Date: August 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points NKT AS (NRKBF) achieved a historic milestone with operational EBITDA exceeding 100 million for the first time, marking a 22% increase from the previous year. The company reported a strong organic growth of 13% in Q2 2025, driven by high activity levels across all business lines. Revenue guidance for 2025 has been upgraded, with expectations now set between 2.65 to 2.75 billion, up from the previous range of 2.33 to 2.52 billion. The acquisition of Solidal contributed positively to revenue and operational performance, particularly in the applications business line. NKT AS (NRKBF) is making solid progress on its capacity expansion projects, with new facilities expected to be operational by 2027, supporting long-term growth ambitions. Negative Points The construction-related segment remains subdued, with volumes and prices still below the previous year's levels, despite slight improvements. Variation orders, while contributing to revenue, are executed at lower margins, impacting overall profitability. Free cash flow for Q2 2025 was negative, driven by changes in working capital and high investment levels. The company's net result decreased to 54 million from 75 million in the same period last year, partly due to the absence of one-time gains from divestments. The high voltage order backlog decreased slightly as orders were executed, and no conversion of the 3.5 billion booking commitments is expected within the year. Q & A Highlights Warning! GuruFocus has detected 4 Warning Signs with NRKBF. Q: Can you provide more details on how variation orders impacted margins in Q2 and the full-year guidance? A: Variation orders typically have a nominal positive impact on NKT, as they provide returns without increasing capital employed. However, the margin impact depends on the complexity and foresight of the orders. Complex scopes carry better margins, while unforeseen or low-complexity scopes may have lower margins. It's challenging to provide specific guidance on the total impact on the business line. (Respondent: CEO Klaus Westerland) Q: Regarding the pipeline conversion, what should we expect for the second half of this year and next year? A: We don't expect any conversion of the 3.5 billion order commitments to backlog for the remainder of this year, but potential conversion is expected in the coming years. We anticipate some larger awards in the coming months, although we refrain from speculating on winning them. (Respondent: CEO Klaus Westerland) Q: Is there a positive impact on pricing in the solutions backlog, excluding variation orders, as we move into 2026? A: There is no material impact from pricing changes in the second quarter. The significant impact from transitioning from legacy to more recent projects will occur in 2027, both for existing assets and new assets coming online. (Respondent: CEO Klaus Westerland) Q: Can you elaborate on the competition in the medium voltage segment and any changes from Q1 to Q2? A: In Q1, we noted increased competition in selected pockets. During Q2, we observed an easing of that pressure, resulting in a sequential improvement compared to Q1. (Respondent: CEO Klaus Westerland) Q: What regions or TSOs are likely to launch larger tenders in the high voltage market in the second half? A: While we are cautious about being too specific, we expect the UK to be a strong market this year. We anticipate tenders being firmly awarded to the market, converting into backlog with suppliers. (Respondent: CEO Klaus Westerland) For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
CBS News
an hour ago
- CBS News
Wages aren't keeping up with inflation, with some jobs falling farther behind than others
Wages still haven't caught up with inflation, four years after the pandemic caused prices to soar and created a cost-of-living crisis for many households, a new study finds. Americans on average are earning 1.2 percentage points below the rise in the cost of living over the past four years, which means that the typical worker's pay increases over that time haven't yet caught up to higher prices, according to Bankrate's 2025 Wage to Inflation Index. The findings come as Americans remain sour about the economy, with 55% rating it as either very or fairly bad, according to a July poll from CBS News. Three-quarters said their incomes haven't kept up with inflation, while a majority also said they've seen prices creep higher in recent weeks and also expect that to continue. But some professions are falling further behind than others, with educators seeing the biggest gap between income growth and inflation during the past four years, the study found. Teachers have long struggled with a "wage gap," meaning that they typically earn less than college graduates working in other fields, due to issues such as constraints on school funding, according to the left-leaning Economic Policy Institute. "Wage growth is often a reflection of who has the power in the labor market," Bankrate economic analyst Sarah Foster told CBS MoneyWatch. "If there are more job openings than workers to fill them, businesses will often lift pay to retain or attract talent." She added, "On the flip side, if there are too few job openings, companies don't have to work as hard to keep workers because they have nowhere to really go." Overall, the 1.2 percentage point gap between the typical workers' pay growth and inflation during the past four years signals that many households are continuing to feel financial strain, Foster added. Even before the pandemic, millions of Americans were struggling to save for emergencies. "Wages not keeping up with inflation translate to outright purchasing-power destruction," Foster said. "These are funds that households could be using to stash away for their goals, like saving for retirement and a home, or building up their safety nets and emergency fund." The professions that have outpaced inflation include those that saw a spike in demand after the pandemic, including leisure and hospitality workers, she added. "Health care, meanwhile, is driving job growth lately, accounting for 88% of private-sector payroll growth last month," Foster said. Only about 54% of Americans say they are satisfied with their current wages, according to a new analysis from Federal Reserve Bank of New York. That represents the lowest satisfaction level since the NY Fed began tracking the measure in 2014. Even high-income households, which contribute about half of all consumer spending and drive economic growth, are facing bigger financial hurdles, including surging delinquencies on credit cards and auto loans, according to recent research. For instance, the share of all new jobs that pay above-average wages has fallen to 7% this year, down from 38% prior to 2020, according to credit-scoring company VantageScore. That can make it tougher for professionals to find new jobs if they suffer a job loss, the group noted. Workers in white-collar industries like finance and business services "speak of a frozen job market," Foster noted. "Employed workers in the sector can't find anywhere else to go and unemployed workers struggle to find new work."
Associated Press
an hour ago
- Associated Press
World Mattress Industry Report 2025, with Detailed Profiles of the 35 Leading Mattress Manufacturers
DUBLIN--(BUSINESS WIRE)--Aug 18, 2025-- The 'World Mattress Industry 2025" report has been added to offering. The World Mattress Industry, offers a comprehensive picture of the global mattress sector through the latest data and key trends: An executive summary introduces the research and examines global, regional, and country mattress industry dynamics, identifying key mattress market drivers. It then explores the trends in the online channel alongside production development and addresses the impact of globalisation, nearshoring, trade tensions, and sustainability. A forward-looking market outlook for 2025 and 2026, a snapshot of the competitive system in the mattress industry, and insights into recent M&A deals and companies' strategies are also provided. WORLD MATTRESS MARKET INDICATORS The first section of the report offers a complete picture of the global mattress sector, with market forecast estimates up to 2026. It focuses on market size, trade flows, and production trends. The report analyses the mattress market in 50 major countries, with a comparative overview including: KEY COUNTRIES IN THE GLOBAL MATTRESS SECTOR The first part of this chapter offers a detailed analysis of the Top 20 countries in the world mattress sector (Australia, Belgium, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Poland, Portugal, South Korea, Spain, Sweden, Turkiye, United Kingdom, United States, Vietnam). For each country: For further 30 countries (Argentina, Austria, Bulgaria, Chile, Croatia, Czech Republic, Denmark, Estonia, Finland, Greece, Hungary, Indonesia, Ireland, Kuwait, Latvia, Lithuania, Malaysia, Netherlands, Norway, Philippines, Romania, Russia, Saudi Arabia, Serbia, Slovakia, South Africa, Switzerland, Taiwan (China), Thailand, United Arab Emirates), the study provides: THE WORLD'S LEADING MATTRESS MANUFACTURERS Detailed profiles of the 35 world-leading mattress manufacturers including company information (company name, headquarters, general contact info), financial highlights and sales performance, manufacturing activity (plants and production strategies). The report covers around 660 companies overall. What is the scope of 'The World Mattress Industry' report? This study aims to analyse the current status and the perspectives of the global mattress sector by answering the following questions: Selected companies A selection of companies featured in this report includes: For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on CONTACT: Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: RETAIL HOME GOODS SOURCE: Research and Markets Copyright Business Wire 2025. PUB: 08/18/2025 02:18 PM/DISC: 08/18/2025 02:18 PM
