
Apollo Staffers Move to New Zurich Office in Fresh Blow to UK
A number of staffers have relocated to the city from various locations in Europe already and Apollo is also planning to hire locally, according to people with knowledge of the matter. Some of the moves are also linked to the UK's overhaul of its tax regime for some wealthy foreign residents, they said, asking not to be identified as the information is private.
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Yahoo
30 minutes ago
- Yahoo
Tata's acquisition of IVECO: a defining moment for Europe's commercial vehicle sector
Truck industry observers have long speculated about the first takeover of a European OEM by an Asian Group—with IVECO, following the spin-off from CNH Industrial in 2022, very much in the focus of the speculation. The historic moment arrived with the announcement of Tata Motors' €3.8 billion ($4.4 billion) all cash voluntary tender offer to acquire IVECO's Commercial Vehicle business (excluding its defence division), on July 30, 2025. The transaction is contingent on the sale of IVECO's defence arm, Iveco Defence Vehicles (IDV), which is being divested separately to Leonardo SpA for €1.7 billion ($2.0 billion). Completion is expected by early 2026. The planned arrangement aims to preserve IVECO's autonomy: its headquarters remain in Turin, its workforce and industrial footprint are protected by binding non-financial covenants (no layoffs, and no plant closures for at least two years), and the existing board structure will be largely retained with independent oversight. Once complete, the deal will create a global Commercial Vehicle powerhouse, with combined annual revenues of around €22 billion ($26 billion) and a global production footprint spanning Europe, Asia, and Latin America. According to GlobalData's analysis, the merger will create a new grouping on a par with TRATON and Volvo Group in terms of global Truck market share and annual production capacity. Indeed, a combination of US market decline and stable demand in India has resulted in a regional rebalancing that would have driven up Tata/IVECO's combined share of the global market (excluding China) to near the top of the ranking during the first half of 2025—second only to global market leader, Daimler. From a product and geographical viewpoint, Tata's dominance in India and Southeast Asia is highly complementary to IVECO's presence in Europe and Latin America, with no significant overlap in product lines or manufacturing geography. As IVECO and Tata compete in different markets, there is little danger in this scenario of a combined market share erosion. The geographical spread distinguishes it from previous European Heavy-Duty (HD) mergers (MAN/Scania, Volvo/Renault). Tata also gains access to IVECO's FPT Industrial powertrain technologies, including electric, hydrogen, and natural-gas platforms, providing it with scope to expand its net zero ambitions. From a strategic point of view, the acquisition is transformative in elevating Tata from a predominantly regional player to a genuine global OEM, with immediate access to European and Latin American markets and distribution networks. In the longer term, combining R&D, procurement and production across regions will also potentially enable better cost leverage and smoother responses to cyclical demand swings across global Commercial Vehicle markets. The acquisition of IVECO marks a watershed moment for Tata Motors and represents the most significant strategic realignment of the European Truck industry since the merger of Scania and MAN under the TRATON umbrella in 2021: the first takeover of a major European Truck OEM by an Asian group. While Asian manufacturers have, thus far, expanded globally through greenfield ventures or partnerships, none have previously acquired a top-tier European Commercial Vehicle brand outright. IVECO, with its deep engineering roots in Italy, Germany, and Spain, and a legacy dating back over a century, is one of Europe's core industrial Truck manufacturers. The move reflects the growing confidence and capital strength of Asian industrial groups, particularly India's Tata Group, with two landmark automotive acquisitions in Europe—first with Jaguar Land Rover in 2008, and now IVECO in 2025. It also signals a shift in global Truck market dynamics, as Asian players move from regional dominance to global consolidation. The implications are far-reaching: cross-continental technology transfer, access to EU markets, and potentially new alliances in alternative powertrains are now all firmly on the horizon. Zita Zigan, Director, Global Commercial Vehicle Forecasts This article was first published on GlobalData's dedicated research platform, the . "Tata's acquisition of IVECO: a defining moment for Europe's commercial vehicle sector" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
Yahoo
30 minutes ago
- Yahoo
Why Novo Nordisk Stock Is Down Again Today
Key Points Novo Nordisk stock missed earnings a week ago and warned of slowing growth. Competition from drug compounding firms and from rival Eli Lilly is eating into Novo's market share. The stock keeps getting cheaper, but its growth rate and dividend yield remain good. 10 stocks we like better than Novo Nordisk › Shares of Novo Nordisk (NYSE: NVO), the Danish pharmaceuticals company famed for its Ozempic and Wegovy weight loss drugs, collapsed after reporting earnings a week ago -- and it's been mostly a downhill slide since. The stock's down again today, bringing cumulative losses to 31%. This time, you can blame UBS. What UBS says about Novo Nordisk UBS analyst Matthew Weston removed his buy rating on Novo Nordisk stock this morning, downgrading the shares to neutral and setting a price target of about $52.77, as Street Insider reports. In last week's earnings report, you see, Novo dismissed worries that competition from drug compounding firms, making and selling cheaper versions of Ozempic under their own names, is a significant threat from its business -- but UBS begs to differ. "Following expert channel checks, we expect GLP1 compounders to remain in the US, which limits cash-pay uptake and leaves an uncertain outlook for US Wegovy," warned Weston. At the same time, the analyst says Novo is continuing to lose market share to rival Eli Lilly (NYSE: LLY) and its own weight loss drugs such as Mounjaro. Is Novo Nordisk stock a sell? Weston's downgrade still values Novo Nordisk stock above its current share price of $47 and change, however. Moreover, Novo Nordisk stock currently costs less than 14 times earnings. Although Weston warns that sales growth is slowing to perhaps 6% in the second half of the year from 18% in the first half, that still averages out to about a 12% annual growth rate -- perhaps not explosive, but still respectable. And between the growth rate and the 3.3% dividend, we're looking at a total return of more than 15% on this stock, which makes a 14 P/E ratio look cheap. Despite (or even because of?) the falling share price, I'd still be a buyer of Novo Nordisk stock. Should you invest $1,000 in Novo Nordisk right now? Before you buy stock in Novo Nordisk, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Novo Nordisk 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 $631,505!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,103,313!* Now, it's worth noting Stock Advisor's total average return is 1,039% — a market-crushing outperformance compared to 181% 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 August 4, 2025 Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy. Why Novo Nordisk Stock Is Down Again Today was originally published by The Motley Fool 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


CNET
31 minutes ago
- CNET
Sink Into Your Life's Soundtrack With Samsung's Galaxy Buds FE From $47
From commutes to workouts and everything in between, we can all use a set of everyday earbuds. And when it comes to tech, Samsung is a brand you can rely on for just about all your needs. But a great experience doesn't have to be costly. Samsung Galaxy Buds FE earbuds are a solid option if you're looking to avoid overspending. And that's even more true now, as you can currently pick a pair up for as little as $47. Here's how. Normally $100, the Galaxy Buds FE are currently slashed by 53%, so you can get your hands on a pair for just $47 via Woot. Alternatively, You can get a pair at Walmart for slightly more -- just $61. So why would you want to pay more? Well, Walmart is offering both the white and black versions while Woot's sale is limited to the black earbuds. It's also worth noting that Woot's earbuds are the European version, so you're limited to a "vendor-backed 12-month Samsung equivalent warranty." Essentially, you need to decide if the more complicated warranty situation or a different colorway is worth $14 to you or not. The Galaxy Buds FE are great entry-level earbuds, with an active noise cancellation feature you can turn on or off. With it on, you'll get up to six hours of listening time before needing a charge. If you opt to keep the noise canceling off, you can get over eight hours. Hey, did you know? CNET Deals texts are free, easy and save you money. One of the coolest features of the Galaxy Buds FE is the Interpreter function, which allows you to use your Galaxy phone to get real-time translations through the earbuds during face-to-face conversations. This also works when making phone calls. Looking for something else? Check out this roundup of the best deals on wireless earbuds and headphones happening right now. And if you're after a compatible smartphone, we've got the best bargains on Samsung Galaxy S25 phones, too. Read more: Galaxy Unpacked 2025 Live: New Samsung Phone Revealed Why this deal matters It's impossible to overstate how convenient wireless earbuds are, especially if you spend time on public transit or have to work in a noisy office. But not everyone wants to spend the kind of money needed to get a pair of high-end buds, meaning budget options are all the rage. $100 isn't a bad price for a pair of earbuds with ANC, but less than half that? Well, that's the kind of deal that's too good to turn down.