Stocks Gain After Trump Touts U.K. Deal, High Hopes on China
An improving trade relationship with the United Kingdom and hopes for talks with China sparked a stock rally on Thursday, driving the Dow Jones Industrial Average up more than 250 points.
The blue-chip index rose 0.6% after President Trump and others spoke in the Oval Office to showcase what he billed as a 'full and comprehensive' trade agreement with the U.K.
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Business Insider
27 minutes ago
- Business Insider
Anna Wintour is hiring at Vogue. Here's how to thrive when your boss used to have your job.
Whomever replaces Anna Wintour in running day-to-day operations at American Vogue will have some enormous stilettos to fill. That's partly because Wintour, who's 75, has been at the job for nearly four decades and is a legend in the business. It's also because whoever comes next will report to her. Wintour, who became Vogue's editor in chief in 1988, is giving up that role. However, she'll remain global editorial director at the magazine and chief content officer for its parent company, Condé Nast, the company said Thursday. Taking on a senior role, similar to the one Wintour vacated at Vogue, is often challenging, especially when the predecessor remains on hand, leadership experts told Business Insider. Incoming leaders are wise to signal that they want to make changes without abandoning what makes an organization work, said Kevin Groves, a professor of management at Pepperdine's Graziadio Business School. "We're preserving what's most important to us, while recognizing our environment has changed," he said. Here are three pieces of advice on taking over after a leader who looms large — and who might still be down the hall. Don't be impatient Stepping into this position successfully starts with indicating sincere interest in the role and prioritizing what's best for the organization, Nancy Ho, an executive coach based in Singapore, told BI. "You cannot be impatient and rush into it. It should not be seen like you're power-hungry or claiming a role prematurely," Ho said. Instead, she said, new leaders need to focus on understanding a company's culture and how they can position themselves as an asset to the organization. James Reed, CEO of the UK-based recruitment company Reed, said there is no harm in declaring to your boss that you are ambitious and aim to lead an organization, "even if you avoid explicitly saying you're after their job." "Ask what you need to learn and what more you can contribute to support them," Reed said. "Then they will be aware of your ambition but appreciate that you are seeking to help and learn from them rather than undermine them." Don't rock the boat too early Ho said it's important not to make drastic changes too soon upon getting the job. Ho recommended that the first step is acknowledging the good work done before them. Then, they should gain the team's trust by carefully working with them and making small, gradual changes to improve the organization's effectiveness. "When there's a certain buy-in, and people are more comfortable with a different leader, then you introduce changes," she said. Sabina Nawaz, a US-based CEO coach, said new leaders should not make changes for at least the first three months because the first thing to do after receiving the title is "to be curious." "Go on a listening tour, excavate the reasons behind decisions or actions, try to make sense of things from the perspective of others: given that they're smart and well-meaning, what did they have in mind when they acted this way," Nawaz said. Christian Tröster, a professor of leadership and organizational behavior at Germany's Kühne Logistics University, told BI that new leaders can demonstrate they're becoming part of the organization by being careful not to suggest that everything should change. "Because then you're showing that you are not like them, that you cannot be trusted," Tröster said. "Then you don't have the commitment of your employees to actually go with you." Tröster said that when an incoming leader would have to report to the person who held the post in the past, it's important to have a conversation about expectations. He said that while org charts are often clear, layers are often not always evident, including what relationships people have and who they tend to go to for advice. "I would try to make that visible," Tröster said. That way, he said, workers know who they're expected to go to and leaders and employees can agree to the arrangement. Don't be afraid to be different For those taking over a new role while their predecessor is still around — especially someone as "established and admired" as Anna Wintour, it's important to take advantage of your access to them, Amanda Augustine, a career coach at told BI via email. "Start the job as a sponge, learning what you can from your predecessor and other colleagues," she said, adding that it's important not to stay in information-gathering mode forever. Jochen Menges, a professor of leadership at the University of Zurich and the University of Cambridge, told BI that new leaders should "be different" and avoid trying to replicate the exact leadership style or strategy of the person they're replacing. "If they're too close, then they'll seem to be a copy, and then they can never live up," he said. When new bosses are different in some ways, Menges said, they can be "a leader in their own right."
Forbes
30 minutes ago
- Forbes
Is France On The Cusp Of Another Political Crisis?
France's Prime Minister Francois Bayrou gestures during the political TV show "L'Evenement" (The ... More Event) broadcast on French TV channel France 2, in Paris, on December 19, 2024. Francois Bayrou said he hoped to name a government "over the weekend", "in any case before Christmas" and that a budget would be adopted "in mid-February", although work on this was interrupted by the motion of censure that toppled the previous government. (Photo by Valentine CHAPUIS / AFP) (Photo by VALENTINE CHAPUIS/AFP via Getty Images) France has now gone through three governments in the past year, each one effectively failing to clear the hurdle of passing a fiscally responsible budget. Major stumbling block here is pension reform – two years ago a proposal to raise the headline pension age met with widespread protest. Since then various governments have tried to find ways to offset the pension burden – one notable strategy is to drop the inflation indexation of pensions (a key pillar of the forthcoming budget process is likely to centre on not indexing government disbursements for a year). Prime minister Francois Bayrou has tried to find ways of building a consensus on pension reform – including a broad conclave on pensions, the idea being to raise the formal pension age to 64. This has now run aground, with the Socialists opposing it (their electorate is very sensitive to the topic) and they have threatened to vote against the government in a potential left-wing inspired vote of confidence. The far-right Rassemblement had declared that it would not support such a vote and the manner in which the Socialists had approached the process was slip-shod. Recall that the government has so far staying in power through a 'no-dissolution' pact with the Socialists, so any parliamentary vote where the Socialists vote against the government could result in the collapse of the government (with the collaboration of the Rassemblement and the far-left), and this could be close to fatal for President Macron. Bayrou has not been a convincing performer in his six months in the job, and one option for the President is to replace him, with say the minister for finance Eric Lombard, or to simply swerve the issue of pension reform altogether – which itself would be a defeat of sorts. Other more ambitious longer term pension reforms are now off the table for the time being. As result the budget process now becomes even more complicated beacuse Bayrou's actions have cut off one of the obvious avenues for the government to cut back spending. International events have given Emmanuel Macron a new platform away from domestic troubles, but Francois Bayrou has in effect imperiled his government on pension reform and the government is again on shaky foundations. The stark reality is that with a first outline of the 2026 budget due in a few weeks, France is limping towards a fiscal crisis. At a time when bond yields across the euro-zone have converged and when the imperative to boost defence spending and embark on the investment and savings union (capital markets union) is rising, Europe needs a strong France and the involvement of Emmanuel Macron. Instead, his tenure is now marked by fiscal failure that will shape the future of the French economy and society for the decade to come. Only higher taxes or dramatically lower government spending can stop the financial demise of France. Macron and none of the opposition parties will countenance this and whomever becomes the next president of France will take up a poisoned chalice.
Yahoo
36 minutes ago
- Yahoo
Provexis (LON:PXS) Is In A Strong Position To Grow Its Business
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. Having said that, unprofitable companies are risky because they could potentially burn through all their cash and become distressed. Given this risk, we thought we'd take a look at whether Provexis (LON:PXS) shareholders should be worried about its cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). We'll start by comparing its cash burn with its cash reserves in order to calculate its cash runway. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. You can calculate a company's cash runway by dividing the amount of cash it has by the rate at which it is spending that cash. In September 2024, Provexis had UK£478k in cash, and was debt-free. Looking at the last year, the company burnt through UK£113k. So it had a cash runway of about 4.2 years from September 2024. A runway of this length affords the company the time and space it needs to develop the business. The image below shows how its cash balance has been changing over the last few years. See our latest analysis for Provexis Although Provexis had revenue of UK£1.2m in the last twelve months, its operating revenue was only UK£1.2m in that time period. We don't think that's enough operating revenue for us to understand too much from revenue growth rates, since the company is growing off a low base. So we'll focus on the cash burn, today. Notably, its cash burn was actually down by 74% in the last year, which is a real positive in terms of resilience, but uninspiring when it comes to investment for growth. Of course, we've only taken a quick look at the stock's growth metrics, here. This graph of historic revenue growth shows how Provexis is building its business over time. There's no doubt Provexis' rapidly reducing cash burn brings comfort, but even if it's only hypothetical, it's always worth asking how easily it could raise more money to fund further growth. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate). Since it has a market capitalisation of UK£16m, Provexis' UK£113k in cash burn equates to about 0.7% of its market value. So it could almost certainly just borrow a little to fund another year's growth, or else easily raise the cash by issuing a few shares. As you can probably tell by now, we're not too worried about Provexis' cash burn. For example, we think its cash runway suggests that the company is on a good path. But it's fair to say that its cash burn reduction was also very reassuring. Looking at all the measures in this article, together, we're not worried about its rate of cash burn, which seems to be under control. Taking a deeper dive, we've spotted 4 warning signs for Provexis you should be aware of, and 1 of them is a bit concerning. If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
