Nordea Bank Buys Carbon Removal Credits in Bid to Scale Market
The purchase of the so-called carbon removal credits represents the first step in a strategy to help support technologies that take CO2 out of the atmosphere, said Peter Sandahl, the bank's head of climate and environment. The pan-Nordic bank aims to build up a large enough portfolio of removal credits to deliver 'a positive carbon contribution' in its own operations by the end of 2030.
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Yahoo
13 hours ago
- Yahoo
Philip Morris International Shares Tumble: Time to Run for the Hills or Buy the Dip?
Key Points Philip Morris International shares fell after the company's second-quarter report, despite strong earnings and increased EPS guidance. The company is expecting to see cigarette sales volumes decline in the second half. The real story at Philip Morris is about the continued strong growth of Zyn and Iqos. 10 stocks we like better than Philip Morris International › Philip Morris International (NYSE: PM) stock has had a strong 2025 so far, but the shares pulled back after the company reported its second-quarter results. That dip left the stock up about 36% on the year, as of this writing. Is the recent slide a buying opportunity or should investors be running for the hills? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » Strong volume growth The Zyn brand remains the driving force behind Philip Morris' robust sales growth. Shipments of the popular nicotine pouches jumped 40% in the U.S. to 190 million cans in Q2, while retail sales volumes (offtake) grew by 26% in the quarter and by 36% in June. Outside of the U.S. and Nordic countries, Zyn shipments more than doubled, and it is now available in 44 markets. Overall oral product shipments climbed 23.8% on a pouch basis. The company said Zyn restocking in the U.S. is now effectively complete. It continues to expect U.S. Zyn shipments to be between 800 million and 840 million cans for the year. Image source: Getty Images The rest of Philip Morris' smokeless portfolio also performed well. Sales volumes of its heated tobacco units (HTUs), including the Iqos system, jumped nearly 9.2% to 38.8 billion units. The company said in-market sales (to end users) jumped 11.4%. Iqos continues to perform well in Japan and Europe and is seeing strong growth in other major cities outside its two main markets. Philip Morris also once again saw shipment growth more than double for its e-vapor product, Veev, driven by pod growth in Europe. Veev is now in 42 markets and holds the No. 1 market share in six European markets. Traditional cigarette volumes, meanwhile, fell by 1.5% to 155.2 billion units. Segment organic revenue, however, grew 2% to $6 billion, and gross profits for the category climbed 5% to $4 billion, as the company's price hikes more than compensated for those volume declines. Overall, organic revenue, which excludes currency effects, acquisitions, and dispositions, rose 6.8% year over year to $10.1 billion. Adjusted earnings per share (EPS) climbed 20% to $1.91. Oral Products (Zyn) HTUs Cigarettes Smoke-Free Total Volume growth 23.8% 9.2% (1.5%) N/A 1.2% Organic revenue growth N/A N/A 2% 14.5% 6.8% HTUs = heated tobacco units. Management maintained its full-year guidance for organic revenue while upping its adjusted EPS forecast. It continues to expect strong results from both Zyn and Iqos, but expects a 3% to 4% decline in traditional cigarette volumes due to ongoing issues in Turkey and Indonesia. The headwind in Turkey is related to supply chain issues following a change in regulatory requirements, while in Indonesia, it's battling to keep market share in the face of growing sales of illicit cigarettes. However, it's still expecting solid gross profit growth from its combustible tobacco business due to its pricing power and cost efficiencies. Metric Prior Guidance Updated Guidance Organic revenue growth 6% to 8% 6% to 8% Adjusted EPS $7.01 to $7.14 $7.43 to $7.56 Adjusted EPS growth* 10.5% to 12.5% $7.33 to $7.46 Volume growth 2% 1% Data source: Philip Morris International. *Adjusted EPS growth excludes currency exchange impacts. EPS = earnings per share. Should investors buy the dip? While investors may have been disappointed by Philip Morris' forecast for steeper declines in cigarette sales volumes in the second half, about half of that is due to a temporary issue around its Turkish supply chain. Meanwhile, the big reason to own the stock is its smoke-free portfolio, led by Zyn and Iqos. Both products continue to demonstrate strong growth and have better unit economics than Philip Morris' traditional cigarette business. It's also expanding these products to new markets, with early signs of success. Importantly, the company is hoping that the FDA will approve the Iqos Iluma for sale in the U.S. later this year, which would set it up to enter this market now that it has reacquired its U.S. rights from Altria. From a valuation perspective, the stock got cheaper when management raised its EPS guidance and its share price fell. The stock now trades at a forward price-to-earnings (P/E) ratio of under 22, based on the analyst consensus for 2025, with a PEG (price/earnings-to-growth) ratio of under 0.35. Stocks with positive PEG ratios below 1 are generally viewed as undervalued. While at the current share price, Philip Morris' dividend has a nice 3.3% forward yield, that's not as high a yield as other tobacco stocks. However, what it lacks in yield, it makes up for by being a unique growth stock in a defensive industry. This is a stock you'll want to own over the long haul, and the dip in the stock price offers a nice buying opportunity. Should you invest $1,000 in Philip Morris International right now? Before you buy stock in Philip Morris International, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Philip Morris International wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Geoffrey Seiler has positions in Philip Morris International. The Motley Fool recommends Philip Morris International. The Motley Fool has a disclosure policy.
Yahoo
21 hours ago
- Yahoo
The cost of love: Europe's most expensive and cheapest cities for a date
Love might be priceless, but dating certainly isn't. As the cost of living continues to rise, singles are finding that romance comes with a higher price tag than ever before. And it's not just first dates. Couples in long-term relationships are also tightening their belts when it comes to nights out and shared experiences. The cost of a date varies widely across Europe, reflecting differences in local price levels. It has also risen significantly over the past five years. So, which European cities are the most expensive or the most affordable for a date? And just how much should you expect to spend on a romantic outing in Europe? A study from Deutsche Bank Research Institute compares the cost of a date across 67 cities worldwide — and nearly half of the studied cities are in Europe. Drawing on data from this report ("Mapping the World's Prices"), Euronews Business takes a closer look at how much dating actually costs in European cities. For the purposes of the research, a 'cheap date' is defined as: one bottle of wine, a pair of jeans, a dress, two coffees, a meal for two at a mid-range restaurant, two cinema tickets, two one-way public transport tickets, and a 5km taxi ride. Swiss and Nordic cities most expensive for dating This year, Switzerland topped the list as the most expensive country in Europe for a "cheap" date. In terms of cities, Geneva leads with an average cost of €400, followed closely by Zurich at €393 — taking the top two spots in the ranking. Copenhagen (€337) and Oslo (€321) follow the Swiss cities. In Europe, Stockholm comes in 7th at €292, while Helsinki takes 9th place at €286 — placing the Nordic capitals alongside Switzerland as the most expensive locations for a date on the continent. Britain tops EU's Big Four in dating costs A "cheap" date costs €313 (£269) in London and €297 (£255) in Edinburgh, placing the two British cities 5th and 6th on the list. This also makes the UK the most expensive country for dating when compared to the EU's four largest economies. In the capitals of those economies, the costs are notably lower: €268 in Paris, €248 in Berlin, €224 in Madrid, and €200 in Rome. Interestingly, some non-capital cities are pricier than their capitals — such as Milan (€275), Munich (€272), Frankfurt (€251), while Barcelona is a slight exception at €214. The average cost of a cheap date across 28 European cities is €264. Cheap dates: Istanbul, Prague, and Budapest Istanbul ranks as the cheapest European city for dating at €163, followed by Prague (€186) and Budapest (€192). However, these figures reflect nominal prices and do not take into account purchasing power standards (PPS). For locals, these costs may still feel high. When income levels are considered, the picture of affordability across cities is likely to shift significantly. The cost of a cheap date in several other European cities includes: Amsterdam (€290), Dublin (€283), Brussels (€275), Vienna (€253), Athens (€218), and Lisbon (€214). How do non-European cities compare in dating costs? Outside Europe, New York ranks as the most expensive city globally at €301 ($354), placing 6th among 67 cities. Bangalore, India, is the cheapest, with a date costing just €88. Related Swipe right - but watch your data: Dating app hit with AI privacy complaint LGBTQ+ dating: This study ranked the best European cities for a romantic getaway Tel Aviv-Yafo is also among the more expensive cities, with a date costing €291. Buenos Aires (€252) is pricier than many major European cities, as well as globally popular destinations like Los Angeles (€244), Dubai (€244), and Tokyo (€184). On the other hand, Shanghai, Cape Town, and Rio de Janeiro are significantly cheaper in nominal terms, with the cost of a date falling below €150. Dating has become significantly more expensive In October 2022, inflation in the EU reached its highest level in four decades, with the cost of living rising sharply across nearly all member states. When comparing the Cheap Date Index from 2020 to 2025, a significant increase is evident. Although the original report is in USD, we converted the figures into euros to offer a clearer perspective, and then calculated the change over this period. Istanbul saw the highest increase, with the cost of a cheap date rising by 84% in euro terms. The increase is also 40% or more in several other cities: Edinburgh (46%), Budapest (45%), London (41%), and Birmingham (40%). However, part of this rise is influenced by exchange rate fluctuations. In the UK, for example, the actual increase would be slightly lower when calculated in local currency — around 33% in London. In Istanbul, the impact is even more dramatic: due to the sharp depreciation of the Turkish lira in recent years, the local cost of a cheap date has surged by over 840%. Across most European cities, the cost of a cheap date has risen by approximately 25–30% over the past five years. Rome stands out as the only city where prices have actually declined in euro terms by 2%. A Euronews Business article titled 'Which Are the Cheapest and Most Expensive Countries in Europe?' compares European countries based on overall cost of living.
Time Business News
a day ago
- Time Business News
The Complete Overview of Mutual Life Africa and Its Role in Empowering Individuals Families and Businesses in Africa and Beyond
Diaspora Funeral Cover is a crucial service provided by Mutual Life Africa, a leading pan-African insurance and financial services company. This company plays a vital role in empowering individuals, families, and businesses across Africa and the global African diaspora. Whether you are an African national living abroad or an expat living in Africa, Mutual Life Africa offers tailored insurance and financial products to meet your unique needs. The company serves over 2 million policyholders worldwide, operating within multiple regulatory frameworks. Their mission is clear: empowerment, accessibility, and financial inclusion. Through their comprehensive services, such as Diaspora Funeral Cover, Diaspora Life Cover, Expat Life Insurance, and SA Rand Life Family Cover, Mutual Life Africa supports communities both locally and internationally. Diaspora Funeral Cover is one of the core services offered by Mutual Life Africa. It is designed specifically for African nationals living outside their home countries or in foreign countries, such as Zimbabweans living in South Africa. This cover ensures that families receive timely financial support to manage funeral expenses without additional stress. The need for diaspora-focused funeral insurance arises because traditional funeral arrangements in African cultures involve significant emotional and financial commitment. Many families living abroad lack the local support or financial resources to manage such costs. By providing diaspora funeral cover, Mutual Life Africa fills this critical gap. In addition, diaspora funeral cover protects families from unexpected expenses during difficult times, ensuring dignity and respect for the deceased. It allows expats and diaspora communities to focus on healing and support without the worry of financial burdens. Alongside funeral cover, Mutual Life Africa offers Diaspora Life Cover and Expat Life Insurance, which are vital to securing the future of African families abroad. These products provide financial security in case of unforeseen events such as death, disability, or critical illness. Diaspora Life Cover offers a safety net that helps beneficiaries cope with loss by providing lump sum payouts or monthly benefits. This kind of cover is especially important for diaspora members who often support families back home financially. Expat Life Insurance is tailored for Africans working or living temporarily in foreign countries. It helps them maintain financial protection even when away from their home country's insurance systems. Mutual Life Africa's ability to operate across multiple jurisdictions means expats can enjoy seamless coverage without bureaucratic hassles. In both cases, the goal is to ensure peace of mind for the insured and their families, regardless of geographic location. This commitment to inclusivity and accessibility demonstrates Mutual Life Africa's leadership in the insurance industry. The SA Rand Life Family Cover and SA Rand Life Cover are insurance products tailored for residents of South Africa and other African countries. They offer protection against death, illness, and other life risks while denominated in South African Rand, which is a stable and widely accepted currency in the region. These products provide families with financial relief when tragedy strikes. By offering affordable premiums and flexible payment options, Mutual Life Africa makes insurance accessible to a broad demographic, including low-income earners and small business owners. SA Rand Life Family Cover is especially suited to family units, ensuring that spouses, children, and dependents have continued financial support. Meanwhile, SA Rand Life Cover can be customized to fit individual needs. Together, these products demonstrate how Mutual Life Africa bridges the gap between international diaspora requirements and local African insurance needs. Besides insurance, Mutual Life Africa offers Personal Credit Facilities, which include personal loans, car finance, and revolving credit options. These credit products empower individuals by providing access to funds for emergencies, business start-ups, or everyday needs. Access to personal credit is often challenging for Africans living abroad or in underserved communities due to stringent banking requirements. Mutual Life Africa's flexible credit solutions remove these barriers, making borrowing simple, fast, and affordable. Moreover, these credit facilities often work alongside insurance products, providing a comprehensive financial safety net. For example, clients with life insurance may be eligible for better loan terms, creating an integrated financial ecosystem. Through these services, Mutual Life Africa encourages financial independence and growth for individuals and families. For African entrepreneurs and corporate clients, Mutual Life Africa provides tailored Business Insurance solutions. These cover various commercial risks such as property damage, liability, employee benefits, and business interruption. Small and medium-sized enterprises (SMEs) form the backbone of African economies. However, they often face significant risks without adequate protection. Mutual Life Africa's business insurance products help mitigate these risks, safeguarding investments and livelihoods. Furthermore, the company's pan-African presence enables it to offer multi-country coverage, a vital feature for businesses operating across borders or employing expat staff. By supporting business continuity and resilience, Mutual Life Africa strengthens economic development within Africa and the diaspora. Mutual Life Africa recognizes the importance of travel for business, family, and leisure. Their Travel Insurance products offer comprehensive protection against medical emergencies, trip cancellations, lost luggage, and other travel-related risks. For diaspora members and expats frequently traveling between countries, travel insurance ensures peace of mind. It guarantees access to quality healthcare abroad and financial protection against unforeseen travel disruptions. In addition to insurance, Mutual Life Africa provides Visa Services to assist African nationals and expats with visa applications and renewals. Navigating immigration processes can be complex and time-consuming, especially for those unfamiliar with foreign systems. By offering visa support, Mutual Life Africa reduces the stress involved in cross-border mobility. This service is invaluable for diaspora families visiting home, business travelers, and those relocating for work or study. Together, travel insurance and visa services make international movement safer and easier for Africans worldwide. Mutual Life Africa's core mission centers on empowerment, accessibility, and financial inclusion. This mission guides every service they provide — from diaspora funeral cover to personal credit facilities. The company operates in multiple regulatory environments, giving it the flexibility to serve Africans living both locally and internationally. This adaptability ensures that diaspora members can access familiar, trustworthy insurance and financial products, no matter where they reside. Moreover, Mutual Life Africa's digital platforms and neobanking solutions provide smart, affordable banking for underserved populations. This innovation further promotes financial inclusion and convenience. Ultimately, Mutual Life Africa's holistic approach helps individuals, families, and businesses build security, resilience, and prosperity. African diaspora and expat communities face unique financial challenges, such as sending remittances, securing insurance abroad, and accessing credit. Mutual Life Africa understands these challenges and offers products designed with these needs in mind. The company's diaspora funeral cover and life insurance policies provide culturally sensitive and financially reliable protection. Personal credit and business insurance products support entrepreneurial aspirations and everyday needs. Additionally, their fast and secure cross-border remittance services ensure money reaches loved ones without delays or excessive fees. This service is a vital lifeline for many diaspora families. By combining these features, Mutual Life Africa stands out as a trusted partner for Africans navigating complex financial landscapes abroad. Getting started with Mutual Life Africa is straightforward. Interested individuals and businesses can visit the company's website or contact local agents for personalized consultations. The application process typically involves completing a simple form, submitting identification documents, and selecting suitable coverage or credit options. For diaspora members, the company provides multilingual support to ease communication. After approval, clients benefit from efficient claim handling, dedicated customer service, and ongoing financial advice. This user-friendly approach ensures that Mutual Life Africa's empowering services are within reach of every African, no matter where they live. Diaspora funeral cover is an insurance product designed to cover funeral costs for Africans living outside their home countries. It is available to African nationals and expats across multiple countries. Mutual Life Africa offers expat life insurance policies that provide financial security for Africans living temporarily or permanently abroad, with flexible terms suited to different jurisdictions. Yes, Mutual Life Africa's personal credit facilities are accessible to many diaspora clients, subject to eligibility criteria and documentation. The company offers coverage for commercial risks including property, liability, employee benefits, and business interruption, suitable for SMEs and corporates across Africa. Mutual Life Africa assists with visa application and renewal processes to simplify international travel and relocation for African nationals and expats. In conclusion, Mutual Life Africa stands as a beacon of hope and financial security for Africans both at home and abroad. Their comprehensive products — including diaspora funeral cover, diaspora life cover, expat life insurance, SA Rand life family cover, personal credit facilities, business insurance, travel insurance, and visa services — address the unique challenges faced by diaspora and expat communities. Through a commitment to empowerment, accessibility, and financial inclusion, Mutual Life Africa not only protects lives but also fosters growth and resilience for individuals, families, and businesses across Africa and beyond. By choosing Mutual Life Africa, you are partnering with a trusted institution dedicated to supporting your financial wellbeing wherever life takes you. TIME BUSINESS NEWS
