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Copper Costs Were Climbing Even Before Trump's Tariffs

Copper Costs Were Climbing Even Before Trump's Tariffs

Bloomberg10-07-2025
New York futures have been trading at significant premiums to London prices as buyers stock up before the levies.
Welcome to our guide to the commodities markets powering the global economy. Today, Millie Munshi, deputy managing editor for energy and commodities in the Americas, discusses an eventful year for metals traders even before the US copper tariffs. Meanwhile, the Trumponomics podcast says the new tax law may trigger an energy crunch.
US tariffs on copper imports are finally coming after months of anticipation and market dislocations, though metals traders are still waiting for some of the finer details.
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SS&C Technologies to Acquire Calastone
SS&C Technologies to Acquire Calastone

Yahoo

time23 minutes ago

  • Yahoo

SS&C Technologies to Acquire Calastone

WINDSOR, Conn., July 21, 2025--(BUSINESS WIRE)--SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced a definitive agreement to acquire Calastone, the largest global funds network and leading provider of technology solutions to the wealth and asset management industries, from global investment firm Carlyle. The purchase price is approximately £766 million (approximately US $1.03 billion), subject to certain adjustments. Headquartered in London, Calastone operates the largest global funds network, connecting more than 4,500 of the world's leading financial organizations across 57 markets. The acquisition is expected to close in Q4 2025, subject to regulatory approvals. SS&C expects the acquisition to be accretive within 12 months and plans to fund the purchase with a combination of debt and cash on hand. Calastone's more than 250 staffers in London, Luxembourg, Hong Kong, Taipei, Singapore, New York and Sydney are expected to join SS&C Global Investor & Distribution Solutions, reporting to General Manager Nick Wright. "We're excited to welcome Julien, the Calastone team and their valued clients to SS&C," said Bill Stone, Chairman and CEO of SS&C Technologies. "Together, we will create a more connected, automated, and intelligent global fund ecosystem — reducing complexity, enhancing client experience, and shaping the future of distribution and investment operations." The acquisition of Calastone reinforces SS&C's commitment to transforming investment operations and bolsters SS&C's ongoing geographic expansion. Calastone's global network and technology solutions complement SS&C's leadership in fund administration, transfer agency services, AI and intelligent automation. By combining capabilities, the two companies will deliver a unified, real-time operating platform to reduce cost, complexity, and operational risk across the global fund ecosystem as well as shaping distribution. This strategic alignment enables enhanced distribution, investor servicing, and operational scalability — empowering asset and wealth managers to innovate, diversify products, and deliver better outcomes for investors worldwide. "We are pleased to be combining forces with SS&C in our joint mission to build the most comprehensive, intelligent and connected wealth and asset management ecosystem," said Julien Hammerson, CEO of Calastone. "SS&C's global scale and deep expertise across fund services and technology will enable us to accelerate innovation and deliver new digital capabilities to the market. We look forward to working together to deliver transformational services to asset and wealth managers and drive growth." Fernando Chueca, Managing Director on the Carlyle Europe Technology Partners investment advisory team, said: "We are pleased to have supported Calastone through such a transformational period of growth for the business. Its well-established technology network represents a differentiated, automated offering and we believe the business is well-positioned to build upon its market position and business momentum. We are confident that SS&C is the right partner to continue Calastone's success, and we look forward to watching the company thrive in its next phase." SS&C was advised by Davis Polk & Wardwell LLP. Barclays served as exclusive financial advisor to Calastone and Linklaters and Mishcon De Reya served as legal advisors to Calastone in connection with the transaction. About Calastone Calastone is the largest global funds network, connecting the world's leading financial organisations. Calastone's mission is to reduce complexity, risk and costs, enabling the industry to deliver greater value to investors. 4,500 clients in 57 countries and territories benefit from Calastone's services, processing over £250 billion of investment value each month. Calastone is headquartered in London and has offices in Luxembourg, Hong Kong, Taipei, Singapore, New York and Sydney. About SS&C Technologies SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. More than 22,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology. About Carlyle Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $453 billion of assets under management as of March 31, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group. Additional information about SS&C (Nasdaq:SSNC) is available at SS&C on X, LinkedIn and Facebook. View source version on Contacts Brian SchellChief Financial OfficerSS&C TechnologiesTel: +1-816-642-0915E-mail: InvestorRelations@ Justine StoneInvestor RelationsSS&C TechnologiesTel: +1- 212-367-4705E-mail: InvestorRelations@ Media Contacts Sam GentileTel : +1-646-818-9195Email : pro-SSC@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Omdia Forecasts Large-Area Display Shipments to Grow 2.9% YoY in 2025 Despite Economic Uncertainty
Omdia Forecasts Large-Area Display Shipments to Grow 2.9% YoY in 2025 Despite Economic Uncertainty

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Omdia Forecasts Large-Area Display Shipments to Grow 2.9% YoY in 2025 Despite Economic Uncertainty

LONDON, July 21, 2025--(BUSINESS WIRE)--According to the latest analysis from Omdia's Large-area display market tracker – 2Q25 with 1Q25 results, large-area display (above 9-inch) unit shipments are forecast to increase by 2.9% year-over-year (YoY) in 2025. While growth in 2025 is expected to be smaller than that of 2024, this increase comes in the face of global economic uncertainty and US tariff concerns. Notably, TV and monitor applications are projected to experience negative growth in 2025. Chinese panel makers, who are expected to take 67.9% of total TV display shipments in 2025 are adopting a conservative approach to increasing LCD TV display shipments to manage panel prices. Similarly, panel makers outside of China are cautious about expanding their monitor display businesses due to poor finance performance. Figure1. Large-area display shipment latest forecast in 2025 (millions of units) Applications 2023 2024 2025(F) 2024 YoY (%) 2025(F) YoY (%) TV 241.8 250.0 245.2 3.4% -1.9% Monitor 150.2 161.9 160.6 7.8% -0.8% Notebook PC 190.5 216.9 225.7 13.8% 4.1% Tablet PC 149.3 181.8 203.2 21.8% 11.7% Others/PID 79.8 74.1 75.3 -7.2% 1.6% Total 811.6 884.6 910.0 9.0% 2.9% Source: Omdia © 2025 Omdia Large-area LCD unit shipments are expected to increase by 2.4% YoY, reaching 875.5 million in 2025. Pulled-forward demand in 1Q25 has helped to boost the shipment forecast for the year. However, panel makers have little incentive to expand their monitor LCD businesses in 2025 due to financial losses, particularly among non-Chinese manufacturers. Chinese panel makers are projected to increase monitor LCD shipments by 4.8% YoY while panel makers from other regions will decrease shipments by 12.6% YoY in 2025. Chinese panel makers are also maintaining their production-to-order policy to prevent LCD TV display price erosion starting in 2Q25. "Interestingly, while LCD TV display unit shipments are expected to decline by 2.1% YoY, shipment area is forecast to grow by 4.9% YoY in 2025 driven by ongoing size migration trends," said Peter Su, Principal Analyst of Omdia. Su added, "Large-area OLED unit shipments and shipment area are forecast to grow by 15.5% YoY and 10.4% YoY, respectively, in 2025. However, these figures are lower than the previous forecast (unit shipments up by 20.3% YoY and shipment area up by 12.9% YoY) from our 1Q25 report. This indicates that large-area OLED demand is slowing more than expected due to global economic uncertainty and concerns about potential impacts from the new US tariff policy." Regional Market Share LCD shipments: China is forecast to account for 66.7% of total large-area LCD shipments in 2025, followed by Taiwan with 21.9% and Korea with 8.0%. Key players: BOE is expected to lead with 36.3% of total large-area LCD shipments, followed by China Star with 16.5% and Innolux with 11.6%. OLED shipments: Korea is projected to dominate with 85.2% of total large-area OLED shipments, followed by China with 14.8%. Key players: Samsung Display is expected to lead with 55.1%, followed by LG Display with 30.1% and EDO with 12.0%. "Tablet PC OLED shipments are forecast to decline by 0.4% YoY in 2025 – an improvement from the previous forecast of -1.9% YoY - but still reflecting negative growth due to slower demand from Chinese PC brands and OEMs," explained Su. "TV and monitor display shipments are expected to decline in 2025 as panel makers work to protect panel prices and avoid further losses. However, panel makers — particularly those in China — have set aggressive shipment targets for mobile PC displays, where panel makers from other regions still hold a 42.8% market share (as of 2024). This push is aimed at capturing greater market share and is expected to contribute to an overall increase in large-area display shipments during the same period," concluded Su. ABOUT OMDIA Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a technology research and advisory group. Our deep knowledge of tech markets grounded in real conversations with industry leaders and hundreds of thousands of data points, make our market intelligence our clients' strategic advantage. From R&D to ROI, we identify the greatest opportunities and move the industry forward. View source version on Contacts Fasiha Khan:

Refi Rates Ride High: Current Refinance Rates on July 21, 2025
Refi Rates Ride High: Current Refinance Rates on July 21, 2025

CNET

time24 minutes ago

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Refi Rates Ride High: Current Refinance Rates on July 21, 2025

For the vast majority of homeowners, there's currently little financial incentive to refinance their mortgages. So far in 2025, average mortgage rates have remained elevated, consistently hovering between 6.5% and 7% due to ongoing economic uncertainty. "If rates fall below 6%, we could see a big jump in refinance activity," said Jeb Smith, licensed real estate agent and member of CNET Money's expert review board. Yet economists and housing market experts don't predict a dramatic drop-off in rates in the immediate future. Mortgage refinance rates fluctuate daily based on a range of economic and political factors. For more insights on where rates might be headed, check out our weekly mortgage rate forecast. When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information here to get a custom quote from one of CNET's partner lenders. About these rates: Bankrate's tool features rates from partner lenders that you can use when comparing multiple mortgage rates. Refinance rate news At the start of 2025, many expected inflation to keep cooling down and the Federal Reserve to cut interest rates, which would have gradually lowered mortgage refinance rates. However, after cutting interest rates three times last year, the Fed has held rates steady in 2025 to observe how President Trump's policies on trade, immigration and government spending will affect the economy. The central bank is expected to resume cutting rates as early as September, but this will not immediately result in lower mortgage rates. While adjustments to its benchmark interest rate influence the direction of borrowing rates across the economy, the Fed doesn't directly control the mortgage market. As of now, the Fed is expected to make two 0.25% rate reductions this year. If inflation increases due to tariffs, policymakers may hold off on easing borrowing costs until later, which would keep upward pressure on mortgage refinance rates. What to know about 2025 refinance rate expectations Most housing forecasts still call for a modest decline in mortgage rates, with average 30-year fixed rates expected to end the year around below 6.5%. For refinancing to become significantly more affordable, though, we need to see multiple interest rate cuts and weaker economic data. Overall, it's unlikely we'll see another refinancing boom like the one in 2020-21 when mortgage rates were exceptionally low around 3%. Nevertheless, refinancing might be beneficial for other reasons, like changing the type of home loan, term length or taking someone off the mortgage. What to know about refinancing When you refinance your mortgage, you take out another home loan that pays off your initial mortgage. With a traditional refinance, your new home loan will have a different term and/or interest rate. With a cash-out refinance, you'll tap into your equity with a new loan that's bigger than your existing mortgage balance, allowing you to pocket the difference in cash. Refinancing can be a great financial move if you score a low rate or can pay off your home loan in less time, but consider whether it's the right choice for you. Reducing your interest rate by 1% or more is an incentive to refinance, allowing you to cut your monthly payment significantly. But refinancing your mortgage isn't free. Since you're taking out a whole new home loan, you'll need to pay another set of closing costs. If you fall into that pool of homeowners who purchased property when rates were high, consider reaching out to your lender and running the numbers to see whether a mortgage refinance makes sense for your budget, said Logan Mohtashami, lead analyst at HousingWire. How to choose the right refinance type and term The rates advertised online often require specific conditions for eligibility. Your personal interest rate will be influenced by market conditions as well as your specific credit history, financial profile and application. Having a high credit score, a low credit utilization ratio and a history of consistent and on-time payments will generally help you get the best interest rates. 30-year fixed-rate refinance For 30-year fixed refinances, the average rate is currently at 6.87%, an increase of 6 basis points from what we saw one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance, but it will take you longer to pay off and typically cost you more in interest over the long term. 15-year fixed-rate refinance For 15-year fixed refinances, the average rate is currently at 6.21%, an increase of 10 basis points compared to one week ago. Though a 15-year fixed refinance will most likely raise your monthly payment compared to a 30-year loan, you'll save more money over time because you're paying off your loan quicker. Also, 15-year refinance rates are typically lower than 30-year refinance rates, which will help you save more in the long run. 10-year fixed-rate refinance The average rate for a 10-year fixed refinance loan is currently 6.38%, an increase of 29 basis points over last week. A 10-year refinance typically has the lowest interest rate but the highest monthly payment of all refinance terms. A 10-year refinance can help you pay off your house much quicker and save on interest, but make sure you can afford the steeper monthly payment. To get the best refinance rates, make your application as strong as possible by getting your finances in order, using credit responsibly and monitoring your credit regularly. And don't forget to speak with multiple lenders and shop around. Does refinancing make sense? Homeowners usually refinance to save money, but there are other reasons to do so. Here are the most common reasons homeowners refinance: To get a lower interest rate: If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. If you can secure a rate that's at least 1% lower than the one on your current mortgage, it could make sense to refinance. To switch the type of mortgage: If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. If you have an adjustable-rate mortgage and want greater security, you could refinance to a fixed-rate mortgage. To eliminate mortgage insurance: If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. If you have an FHA loan that requires mortgage insurance, you can refinance to a conventional loan once you have 20% equity. To change the length of a loan term: Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. Refinancing to a longer loan term could lower your monthly payment. Refinancing to a shorter term will save you interest in the long run. To tap into your equity through a cash-out refinance: If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. If you replace your mortgage with a larger loan, you can receive the difference in cash to cover a large expense. To take someone off the mortgage: In case of divorce, you can apply for a new home loan in just your name and use the funds to pay off your existing mortgage.

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