
Apollo Calls for ‘Tailored' Private Markets Rules in Australia
The comments were included in one of more than 50 submissions published on the Australian Securities and Investments Commission 's website on Wednesday, after the regulator in February sought industry views on the shifting dynamics of Australia's capital markets.
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Stifel Sees More Upside for Celestica (CLS) as AI Demand Accelerates
Celestica Inc. (NYSE:CLS) is one of the . On July 29, Stifel analyst Ruben Roy raised the price target on the stock to $230.00 (from $150.00) while maintaining a 'Buy' rating. The rating affirmation follows Celestica's better-than-expected F2Q25 results and raised guidance for FY26. The company continues to demonstrate robust execution on the back of AI-driven demand acceleration. 'CLS reported better-than-expected F2Q25 results, guided F3Q25 above consensus, and raised FY26 guidance. As such, we are raising our forward estimates, increasing our price target to $230, and reiterating our Buy rating as CLS continues to demonstrate strong execution amid AI-driven demand acceleration. F2Q25 sales of $2.89bn increased 9% sequentially and 21% y/y, with the CCS and ATS segments exhibiting 28% and 7% y/y growth, respectively (both exceeding management's prior expectations)." Celestica Inc., a provider of supply chain solutions, operates through two segments, Advanced Technology Solutions, and Connectivity and Cloud Solutions. While we acknowledge the potential of CLS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Must-Watch AI Stocks on Wall Street and Disclosure: None. Sign in to access your portfolio
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Why Reeves would do best to bank on Bailey
Rachel Reeves is fighting on too many fronts. She remains wedded to her 'iron clad' fiscal rules when even the traditionally hawkish German government is relaxing its budgetary rules to make provision for extra defence spending. Moreover, the chancellor has moved into potentially dangerous territory by antagonising the Bank of England. She is in open conflict with governor Andrew Bailey over her extraordinary scheme to relax the financial regulation that was brought in after the 2007-2009 banking crisis to ringfence retail banking – a service for business and the general public – from the excesses of investment banking. This is all supposed to be in the interests of the faster economic growth on which she has rashly staked her reputation. But the UK's financial sector is quite big enough already. It is there to serve the interests of the wider manufacturing, innovative and service economy, as well as us 'consumers'; it is not supposed to be an object of growth in itself. Bailey is rightly worried about the threat to the financial system of governments playing fast and loose with the rules. The chancellor used to go on about the brief period she spent as a junior Bank of England official, but that hardly bears comparison with Bailey's experience there. After a 40-year career on Threadneedle Street, Bailey knows the City in general – and the banking system in particular – inside out. One of the great governors of the past 40 years was 'Steady' Eddie George (1993 to 2003). Bailey ran George's private office for a time and learned at the feet of the master. Alas, George's successor, Mervyn King, was not as interested in the City as most Bank governors are, and, sadly, the Bank took its eye off the ball in the run-up to the 2007-09 banking crisis. Bailey must be well aware of this. It shows not only in his opposition to Reeves's advocacy of deregulation, but also in a more parochial dispute he is having with the chancellor over the granting of banking licences to Revolut, the challenger fintech firm. Actually the relationship between governments and central banks is a hot topic at present, not least on account of the abuse being levelled at Jay Powell, chair of the United States central bank, the Federal Reserve, by Donald Trump – still president of the US at the time of writing. While Trump does his best to disrupt the trading relationships of the world economy, the Federal Reserve is concerned about the domestic inflationary threat from his tariff policies. Powell has, understandably, been refusing to bow to Trump's repeated requests for the Fed to lower interest rates. The president has called this distinguished central banker a 'numbskull' for doing his job and refusing to kowtow. When the Bank of England was granted operational independence to decide on interest rates policy – by chancellor Gordon Brown and his economic adviser Ed Balls in 1997 – I was concerned about the consequences of transferring such policy decisions from a democratically elected government to non-elected officials. However, I prefer the judgment of Powell to that of Trump; and I prefer the judgment of Bailey to that of Reeves. Both Bailey and his immediate predecessor, Mark Carney, saw through the tissue of lies produced by the Brexiters in the runup to 2016. We are continuing to live with the consequences of Brexit. It is about time that prime minister Keir Starmer and his chancellor woke up to the need to adopt the most obvious growth policy: a return to the customs union and single market. Photograph by Getty
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Warren Buffett's stock still struggling since May peak
Warren Buffett's stock still struggling since May peak originally appeared on TheStreet. There's a reason why shares of Warren Buffett's Berkshire Hathaway () and () have fallen more than 12% since early May. Some of its businesses aren't performing as well as in prior years. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰 The company saw operating profit drop to $11.16 billion, a 3.8% decline from a year earlier, in part because of declines in underwriting earnings in its insurance operations, according to its second-quarter earnings report released Saturday. Plus, it wrote down the value of its investment in Kraft Heinz () , the food giant Berkshire helped put together. Kraft Heinz shares have lost two third of their value since 2017. The pre-tax write-down came to about $5 billion. It still owns 27.4% of the company. Until this spring, Berkshire controlled two of the 12 seats on the Kraft Heinz board. It has given up both seats. The write-down was a rare disappointment for Buffett and Berkshire Hathaway, although analysts believe it was long shares struggle since spring Berkshire's Class A shares closed Friday at $711,480, down $8,370 on the day. The Class B shares ended at $472.84, up 96 cents. Berkshire shares hit intraday peaks of $812,855 and $542.07, respectively, on May 2, the day before the company's annual meeting when Buffett said he would retire as CEO on Dec. 31. The closes for the stock classes translated into year-to-date-gains of 18.5%. The shares then fell through May, June and July. One reason for the declines was the uncertainty created by the announcement. Buffett was a known quantity for Wall Street. Greg Abel, who will succeed the Oracle of Omaha as CEO, is less known. Perhaps as important, the big technology rebound that started in April probably drew money away from less glamorous opportunities. Like Palantir () , Facebook parent Meta Platforms () , Microsoft () and, of course, Nvidia () . Here is how the Berkshire B shares have behaved compared with the S&P 500 over the six months. Despite the shares' fallback since May, Berkshire's A shares are up 4.5% in 2025, with the B shares up 4.3%. The S&P 500 is up 6.1% on the year and up 29% from its April low. (We should note Berkshire rose on Friday as some investors saw it as a safe haven.) And the company has real strength. Berkshire ended the second quarter with $344.1 billion in cash and equivalents, about 37% of total assets. The cash position includes nearly $250 billion in short-term Treasury who turns 95 on Aug. 30, took control of Berkshire in 1965. It was then a struggling textile company in 1965. He has been CEO since 1970. Abel, who is Berkshire's vice chairman of non-insurance operations, is also CEO of Berkshire Hathaway Energy, which operates four electric utilities and related subsidiaries. More Warren Buffett: Warren Buffett's Berkshire Hathaway predicts major housing market shift soon Warren Buffett has harsh words for stock market investors Warren Buffett makes worrisome car insurance prediction Former Warren Buffett exec makes bold real estate bet A low-visibility corporate giant Berkshire is a huge conglomerate with about 392,000 employees. Much of its profits come from its insurance businesses. It owns Geico, Allegany and no fewer than 16 other insurance companies. It also owns the Burlington Northern Santa Fe Railroad, a host of electric utilities, Fruit of the Loom, Dairy Queen, Duracell, boot-maker Justin Brands and the Pilot chain of truck stops. Most of its companies run semi-autonomously and have been reliably successful and made Buffett and Berkshire shareholders wealthy. The railroad business is based in the western United States and will face new competitive pressures when — and if — rival Union Pacific Corp. () merges with Norfolk Southern Corp. () . The two sides agreed this past week to merge in a deal valued at about $85 billion. Assuming it closes, the result would be the first coast-to-coast railroad operator in the United States. Many analysts believe BNSF will need to find a merger partner of its own to compete. There, however, just five big railroads. Berkshire still is still a large investor in a host of companies with a fair value of $268 billion. The largest holdings are: American Express () . Apple () . Bank of America () . Coca-Cola () . Chevron Corp. () .Warren Buffett's stock still struggling since May peak first appeared on TheStreet on Aug 3, 2025 This story was originally reported by TheStreet on Aug 3, 2025, where it first appeared. Sign in to access your portfolio