Category: 3. Business

  • First UK phones to get satellite connectivity in signal blackspots announced

    First UK phones to get satellite connectivity in signal blackspots announced

    Zoe KleinmanTechnology editor

    Getty Images A person holds a phone with a plain white background. On the screen is an error message stating there is no phone signal.Getty Images

    Virgin Media O2 is set to become the first mobile network operator to offer UK customers automatic connectivity via satellite in places without phone signal.

    O2 Satellite will be an optional service due to launch in the first half of 2026, following a partnership with Elon Musk’s satellite business Starlink to offer the service.

    The firm has not yet revealed how much it will cost, but it will be an additional fee to pay each month.

    Enabled smartphones will automatically switch to satellite coverage in parts of the UK where no terrestrial signal is available – such as rural areas – but those who sign up will not be able to make phone calls via satellite to begin with.

    The service will only work with messaging, maps and location apps. O2 says this is because Starlink’s current satellites do not support calls, although the next generation of them will.

    Calls made via WhatsApp, which uses data rather than phone signal, may work though. O2 intends to trial this before the service launches to the public.

    The satellites will effectively act like “phone masts in the sky”, said Luke Pearce from analyst CCS Insight.

    “In today’s world, connectivity is no longer optional,” he said.

    “Whether it’s emergency SOS in life-saving situations or keeping a software-defined vehicle online, people now expect constant access.

    “Satellite is the only technology that can truly close the coverage gap across mountains, oceans and rural areas.”

    Satellite battle takes off

    O2’s move comes several months after rival Vodafone carried out a successful live video call via satellite from a mountain in Wales where there was no other signal.

    It claimed this was a UK-first, but it has not yet revealed any plans to roll out satellite-to-device services to customers.

    Vodafone’s tech worked with the satellite firm AST, which currently has six satellites in orbit and aims to have up to 60 by the end of 2026.

    Starlink, meanwhile, has more than 650 and has already launched similar services with phone networks in other countries including Australia, New Zealand, the US, Canada and Japan.

    In the UK, Ofcom tweaked its regulations in September to enable satellite connectivity directly to smartphone devices.

    Currently it is only possible to use it to text emergency services from newer iPhone and Android handsets.

    But the use of low-earth orbit satellites for mobile communications has been criticised by astronomers, who say they pollute the night sky and make it more difficult to spot potential hazards such as asteroids.

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  • U.S. FDA grants interchangeability designation to Celltrion’s denosumab biosimilars, STOBOCLO® (denosumab-bmwo) and OSENVELT® (denosumab-bmwo)

    U.S. FDA grants interchangeability designation to Celltrion’s denosumab biosimilars, STOBOCLO® (denosumab-bmwo) and OSENVELT® (denosumab-bmwo)

    • The U.S. FDA approved STOBOCLO® (denosumab-bmwo) and OSENVELT® (denosumab-bmwo) as interchangeable with the reference products PROLIA® (denosumab) and XGEVA® (denosumab), respectively, for all approved indications, effective as of October 29, 2025
    • The interchangeability (IC) designations of STOBOCLO and OSENVELT were granted based not only on the comparative clinical data – including pharmacokinetics, efficacy, safety and an immunogenicity study in postmenopausal women with osteoporosis[1] – but also on analytical data demonstrating similarity of STOBOCLO and OSENVELT versus the reference product
    • The IC designations enhance patient access and provider choice in the treatment of osteoporosis-related fracture as well as cancer-related bone loss

    INCHEON, South Korea, Oct. 30, 2025 /PRNewswire/ — Celltrion, Inc. today announced that the U.S. Food and Drug Administration (FDA) has designated STOBOCLO® (denosumab-bmwo) and OSENVELT® (denosumab-bmwo) as interchangeable biosimilars to the reference products PROLIA® (denosumab) and XGEVA® (denosumab), respectively, for all approved indications.

    The interchangeability (IC) designation is a regulatory designation granted by the FDA, which means STOBOCLO and OSENVELT may now be substituted at the pharmacy for the reference products without consulting the prescriber, subject to state laws.[2]

    “Today’s IC designations reinforce confidence in STOBOCLO and OSENVELT among physicians and pharmacists, facilitating a more seamless switch from the reference products to our denosumab biosimilars,” said Thomas Nusbickel, Chief Commercial Officer at Celltrion USA. “Building on our strong heritage in biosimilars, Celltrion remains committed to offering more affordable and much-needed treatment options to patients living with skeletal diseases, creating greater potential to deliver savings to patients and the U.S. healthcare system.”

    The interchangeability designations of STOBOCLO and OSENVELT were based on the comprehensive evidence including the clinical results from Phase III clinical trials in postmenopausal women with osteoporosis designed to evaluate the efficacy, pharmacodynamics (PD), pharmacokinetics (PK), safety and immunogenicity of denosumab biosimilar to its reference product. [1]

    STOBOCLO and OSENVELT were introduced in the U.S. market in July 2025. STOBOCLO is currently available in 60 mg/mL injection and OSENVELT is offered in 120 mg/1.7 mL (70 mg/mL) injection.

    According to recent FDA draft guidance, biosimilar applicants can request an interchangeability designation using existing data from their Biologics License Application (BLA). Previously, the FDA granted this status only to biosimilars that submitted multiple switch studies meeting additional data criteria.

    About STOBOCLO® (denosumab-bmwo) [3]  

    STOBOCLO® (denosumab-bmwo) is a receptor activator of NF-κb ligand (RANKL) inhibitor referencing PROLIA® (denosumab). STOBOCLO 60 mg/mL injection is approved by the FDA based on comprehensive data and clinical evidence confirming the therapeutic equivalence to PROLIA. In the U.S., STOBOCLO is approved to treat postmenopausal women with osteoporosis at high risk for fracture, to increase bone mass in men with osteoporosis at high risk for fracture, to treat glucocorticoid-induced osteoporosis in men and women at high risk for fracture, to increase bone mass in men at high risk for fracture receiving androgen deprivation therapy for nonmetastatic prostate cancer, and to increase bone mass in women at high risk for fracture receiving adjuvant aromatase inhibitor therapy for breast cancer.

    INDICATIONS

    STOBOCLO® (denosumab-bmwo) is a RANK ligand (RANKL) inhibitor indicated for treatment:

    • of postmenopausal women with osteoporosis at high risk for fracture
    • to increase bone mass in men with osteoporosis at high risk for fracture or in men at high risk for fracture receiving androgen deprivation therapy for nonmetastatic prostate cancer
    • of glucocorticoid-induced osteoporosis in men and women at high risk for fracture
    • to increase bone mass in women at high risk for fracture receiving an adjuvant aromatase inhibitor therapy for breast cancer

    IMPORTANT SAFETY INFORMATION

    WARNING: SEVERE HYPOCALCEMIA IN PATIENTS WITH ADVANCED KIDNEY DISEASE

    Patients with advanced chronic kidney disease, including those on dialysis, face a higher risk of severe hypocalcemia after denosumab administration, with reported cases leading to hospitalization, life-threatening events, and fatalities.

    The presence of chronic kidney disease-mineral bone disorder (CKD-MBD) markedly increases the risk of hypocalcemia in these patients

    Before starting STOBOCLO® (denosumab-bmwo) in advanced chronic kidney disease patients, assess for CKD-MBD. Treatment should be supervised by a healthcare provider experienced in diagnosing and managing CKD-MBD.

    STOBOCLO is contraindicated in hypocalcemia, pregnant women, and in patients with known hypersensitivity to denosumab.

    Severe Hypocalcemia: Ensure adequate calcium and vitamin D; monitor for severe hypocalcemia.

    Drug Products with Same Active Ingredient: Do not use with other denosumab products.

    Hypersensitivity : If an anaphylactic or other clinically significant allergic reaction occurs, initiate appropriate therapy and discontinue further use of STOBOCLO.

    Osteonecrosis of the Jaw (ONJ): ONJ can occur in patients on STOBOCLO. Conduct oral exams before treatment; maintain oral hygiene; consider discontinuation of STOBOCLO if ONJ develops.

    Atypical Subtrochanteric and Diaphyseal Femoral Fractures: Monitor for thigh, hip, or groin pain; evaluate for fractures. Interruption of STOBOCLO therapy should be considered, pending a benefit-risk assessment, on an individual basis.

    Multiple Vertebral Fractures (MVF) Following Discontinuation of Treatment: Increased risk post-discontinuation of denosumab; transition to alternative therapy if discontinuing STOBOCLO.

    Serious Infections: Higher risk in denosumab users; assess benefit-risk profile, especially in immunocompromised patients. Assess the benefit-risk profile before starting STOBOCLO and reconsider its use if serious infections develop.

    Dermatologic Adverse Reactions: Consider discontinuing STOBOCLO if severe dermatitis, eczema, or rashes occur.

    Musculoskeletal Pain: Consider discontinuation of STOBOCLO if severe pain develops.

    Bone Turnover Suppression: In clinical trials in women with postmenopausal osteoporosis, denosumab significantly suppressed bone remodelling; patients should be monitored for these outcomes.

    Hypercalcemia in Pediatrics Patients with Osteogenesis Imperfecta: Not for pediatric use; hypercalcemia reported in patients osteogenesis imperfecta treated with denosumab products.

    Most common Adverse Reactions:

    • In (>5%) of patients with: Postmenopausal osteoporosis were back pain, pain in extremity, hypercholesterolemia, musculoskeletal pain, and cystitis. Pancreatitis has been reported in clinical trials. Male osteoporosis were back pain, arthralgia, and nasopharyngitis.
    • Glucocorticoid-induced osteoporosis (> 3%) were back pain, hypertension, bronchitis, and headache.
    • Bone loss due to hormone ablation for cancer (≥ 10%) were arthralgia and back pain. Pain in extremity and musculoskeletal pain have also been reported in clinical trials.

    For more information, see Full Prescribing Information including Boxed Warning .

    To learn more about the STOBOCLO REMs program please visit stoboclorems.com .

    About OSENVELT® (denosumab-bmwo)[4]

    OSENVELT® (denosumab-bmwo) is a receptor activator of NF-κb ligand (RANKL) inhibitor referencing XGEVA® (denosumab). OSENVELT 120 mg/1.7 mL (70 mg/mL) injection is approved by the FDA based on a robust clinical trial and comprehensive data confirming the therapeutic equivalence to XGEVA. In the U.S., OSENVELT is indicated to prevent skeletal-related events in patients with multiple myeloma and in patients with bone metastases from solid tumors, to treat adults and skeletally mature adolescents with giant cell tumor of bone that is unresectable or where surgical resection is likely to result in severe morbidity, and to treat hypercalcemia of malignancy refractory to bisphosphonate therapy.

    INDICATION

    OSENVELT® (denosumab-bmwo) is indicated for:

    • Prevention of skeletal-related events in patients with multiple myeloma and in patients with bone metastases from solid tumors.
    • Treatment of adults and skeletally mature adolescents with giant cell tumor of bone that is unresectable or where surgical resection is likely to result in severe morbidity.
    • Treatment of hypercalcemia of malignancy refractory to bisphosphonate therapy.

    IMPORTANT SAFETY INFORMATION

    Contraindications: Patients with hypocalcemia or with known clinically significant hypersensitivity to denosumab products.

    Drug Products with Same Active Ingredient. Patients receiving OSENVELT should not receive other denosumab products concomitantly.

    Hypersensitivity. If an anaphylactic or other clinically significant allergic reaction occurs, initiate appropriate therapy and discontinue further use of OSENVELT.

    Hypocalcemia. Severe hypocalcemia can occur, and fatal cases have been reported. Monitor calcium levels and calcium and vitamin D intake.

    Osteonecrosis of the Jaw (ONJ): ONJ can occur in patients on OSENVELT. Conduct oral exams and appropriate preventive dentistry before and during treatment; maintain oral hygiene and avoid invasive dental procedures; consider discontinuation of OSENVELT if ONJ develops.

    Atypical Subtrochanteric and Diaphyseal Femoral Fractures: Monitor for thigh, hip, or groin pain; evaluate for fractures. Interruption of OSENVELT therapy should be considered, pending a benefit-risk assessment, on an individual basis.

    Hypercalcemia Following Treatment Discontinuation in Patients with Giant Cell Tumor of Bone and in Patients with Growing Skeletons. Clinically significant hypercalcemia, potentially requiring hospitalization, can occur within a year after stopping denosumab in patients with giant cell tumor of bone or growing skeletons; monitor serum calcium and manage calcium and vitamin D needs post-discontinuation.

    Multiple Vertebral Fractures (MVF) Following Treatment Discontinuation. Increased risk post-discontinuation of denosumab; evaluate for risk for vertebral fractures after discontinuing OSENVELT.

    Embryo-Fetal Toxicity. Denosumab may cause fetal harm; verify pregnancy status before starting OSENVELT and advise effective contraception during treatment and for 5 months after the last dose.

    Most common Adverse Reactions:

    • Bone Metastasis from Solid Tumors (≥ 25%) were fatigue/asthenia, hypophosphatemia, and nausea.
    • In patients (≥ 10%) with: Multiple Myeloma were diarrhea, nausea, anemia, back pain, thrombocytopenia, peripheral edema, hypocalcemia, upper respiratory tract infection, rash, and headache; Giant Cell Tumor of Bone were arthralgia, headache, nausea, back pain, fatigue, and pain in extremity.
    • Hypercalcemia of Malignancy (> 20%) were nausea, dyspnea, decreased appetite, headache, peripheral edema, vomiting, anemia, constipation, and diarrhea.

    For more information, see Full Prescribing Information .

    About Celltrion , Inc.

    Celltrion is a leading biopharmaceutical company that specializes in researching, developing, manufacturing, marketing and sales of innovative therapeutics that improve people’s lives worldwide. Celltrion is a pioneer in the biosimilar space, having launched the world’s first monoclonal antibody biosimilar. Our global pharmaceutical portfolio addresses a range of therapeutic areas including immunology, oncology, hematology, ophthalmology and endocrinology. Beyond biosimilar products, we are committed to advancing our pipeline with novel drugs to push the boundaries of scientific innovation and deliver quality medicines. For more information, please visit our website www.celltrion.com/en-us. and stay updated with our latest news and events on our social media – LinkedIn, Instagram, X, and Facebook.

    About Celltrion USA

    Celltrion USA is Celltrion’s U.S. subsidiary established in 2018. Headquartered in New Jersey, Celltrion USA is committed to expanding access to innovative biologics to improve care for U.S. patients. Celltrion’s FDA-approved biosimilar products in immunology, oncology, hematology, and endocrinology include: INFLECTRA® (infliximab-dyyb), TRUXIMA® (rituximab-abbs), HERZUMA® (trastuzumab-pkrb), VEGZELMA® (bevacizumab-adcd), YUFLYMA®(adalimumab-aaty), AVTOZMA® (tocilizumab-anho), STEQEYMA® (Ustekinumab-stba) STOBOCLO® (denosumab-bmwo), OSENVELT® (denosumab-bmwo), OMLYCLO® (omalizumab-igec), and EYDENZELT® (aflibercept-boav) as well as the novel biologic ZYMFENTRA® (infliximab-dyyb). Celltrion USA will continue to leverage Celltrion’s unique heritage in biotechnology, supply chain excellence and best-in-class sales capabilities to improve access to high-quality biopharmaceuticals for U.S. patients. For more information, please visit www.celltrionusa.com. and stay updated with our latest news and events on our social media – LinkedIn

    FORWARD-LOOKING STATEMENT

    Certain information set forth in this press release contains statements related to our future business and financial performance and future events or developments involving Celltrion, Inc. and its subsidiaries that may constitute forward-looking statements, under pertinent securities laws.

    These statements may be also identified by words such as “prepares”, “hopes to”, “upcoming”, “plans to”, “aims to”, “to be launched”, “is preparing”, “once gained”, “could”, “with the aim of”, “may”, “once identified”, “will”, “working towards”, “is due”, “become available”, “has potential to”, the negative of these words or such other variations thereon or comparable terminology.

    In addition, our representatives may make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Celltrion, Inc. and its subsidiaries’ management, of which many are beyond its control.

    Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect to the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them.

    Such forward-looking statements necessarily involve known and unknown risks and uncertainties associated with the company’s business, including the risk factors disclosed in its Annual Report and/or Quarterly Reports, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such statements.

    Celltrion, Inc. and its subsidiaries undertake no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws.

    Trademarks

    STOBOCLO® and OSENVELT® are registered trademarks of Celltrion, Inc.
    PROLIA® and XGEVA® are registered trademarks of Amgen Inc.

    References

    US-CT-P41-25-00008

    For further information please contact:
    Katie Gallagher
    [email protected] 
    +1 617-657-1324

    SOURCE Celltrion


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  • Gold gains as dollar retreat, Fed rate cut buoy appeal – Reuters

    1. Gold gains as dollar retreat, Fed rate cut buoy appeal  Reuters
    2. Gold Price Falls, With Futures Trading Below $4,000  The Wall Street Journal
    3. Gold prices rise ahead of key Fed policy meeting; trade optimism weighs  Investing.com
    4. Gold clings to gains on weaker USD; upside potential seems limited  FXStreet
    5. Gold price consolidates below $4,000 as the Federal Reserve cuts interest rates  KITCO

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  • PUMA enters reset phase in Q3 and outlines strategic priorities

    PUMA enters reset phase in Q3 and outlines strategic priorities

    Nine Months 2025

    Sales

    After sales remained roughly flat in the first half of 2025, sales experienced a pronounced deceleration in the third quarter, as outlined above. Consequently, sales in the first nine months of 2025 decreased by 4.3% (ca) to € 5,973.9 million with a decline across all regions and product divisions. Currencies, especially U.S. Dollar, Mexican Peso and Argentine Peso, presented a headwind and negatively impacted sales in euro terms by approximately € 288 million (sales growth reported: -8.5%). 

    PUMA’s Wholesale business declined by 8.6% (ca) to € 4,256.3 million, driven by softness in North America, Greater China and Europe. The Direct-to-Consumer (DTC) business increased by 8.4% (ca) to € 1,717.6 million, driven by 14.2% (ca) growth in e-commerce and a 5.2% (ca) increase in owned & operated retail stores. This resulted in an increased DTC share of 28.8% (9M 2024: 25.5%).

    From a regional perspective, sales in the EMEA region decreased by 1.9% (ca) to € 2,574.0 million. The Americas region recorded a sales decline of 6.2% (ca) to € 2,211.7 million, while sales in the Asia/Pacific region decreased by 5.5% (ca) to € 1,188.1 million.

    Among product divisions, sales in Footwear decreased by 1.1% (ca) to € 3,292.9 million. Apparel decreased by 8.7% (ca) to € 1,827.6 million and Accessories decreased by 6.1% (ca) to € 853.4 million.

     

    Profitability 

    The gross profit margin declined by 130 basis points to 46.1% (9M 2024: 47.4%). Increased promotional activity, inventory reserves and currency effects were a headwind. This was partially offset by tailwinds from sourcing and a favourable distribution channel mix.

    Operating expenses (OPEX), excluding one-time costs, increased by 2.8% to € 2,670.1 million (9M 2024: € 2,598.0 million). The increase was mainly due to the continued growth of the DTC business, especially e-commerce, and higher depreciation & amortisation (D&A) from investments in DTC and infrastructure and accounts receivable write offs of around € 20 million in the second quarter. Higher OPEX and a decline in sales, partially offset by currency-related tailwinds on the OPEX ratio, led to a 490 basis points increase of the OPEX ratio to 44.7% (9M 2024: 39.8%).

    Adjusted EBIT, excluding one-time costs, decreased to € 102.0 million (9M 2024: € 513.2 million) due to the sales decline in the first nine months of 2025, a lower gross profit margin and higher OPEX. PUMA incurred one-time costs of € 112.7 million related to the cost efficiency program and a goodwill impairment in the second quarter. Consequently, the reported EBIT came in at € -10.7 million (9M 2024: € 513.2 million) and the EBIT margin at -0.2% (9M 2024: 7.9%).

    The financial result decreased by 14.0% to € -132.5 million (9M 2024: € -116.2 million), mainly due to higher net interest expenses. Despite lower earnings before taxes compared to the previous year period, taxes on income came in at € -136.8 million (9M 2024: € -99.2 million). This was mainly due to deferred tax assets write-offs in the U.S. and China in the second and third quarter of 2025. Net income attributable to non-controlling interests amounted to € -29.0 million (9M 2024: € -40.6 million), as a result of a softer socks and bodywear business in the U.S.

    Consequently, net loss came in at € -308.9 million (9M 2024: net income of € 257.1 million) and earnings per share amounted to € -2.09 (9M 2024: € 1.72).

     

    Balance Sheet 

    The working capital increased by 2.2% to € 1,924.6 million (30 September 2024: € 1,883.5 million). Inventories increased by 17.3% reported and 24.3% currency adjusted to € 2,124.1 million (30 September 2024: € 1,811.3 million) partly driven by inventory takebacks from wholesale partners to clean up distribution. This was partially offset by a reduction in purchase orders, implemented as a measure to slow down inventory growth and to avoid additional supply. To bring back inventories to a more normalised level until the end of 2026, PUMA will execute product clearance through its outlets and wholesale partners, supported by targeted promotional initiatives. Trade receivables decreased by 18.1% to € 1,241.2 million (30 September 2024: € 1,515.6 million), mainly due to lower sales. Trade payables decreased by 2.1% to € 1,270.6 million (30 September 2024: € 1,297.9 million) reflecting reduced purchasing orders in the third quarter. Net debt increased to € 1,205.2 million (30 September 2024: € 746.0 million), mainly driven by increased bank liabilities to support the operating business and finance working capital. 

     

    Cash flow

    The free cash flow came in at € -43.0 million in the third quarter of 2025 (Q3 2024: € -83.0 million), showing an improvement compared to the third quarter of 2024. This led to a free cashflow in the first nine months of 2025 of € -685.8 million (9M 2024: € -287.4 million). As part of its ongoing commitment to financial resilience and operational efficiency, PUMA is implementing measures to safeguard cash flow, especially optimising its working capital.

     

    PUMA United

    PUMA United is a partnership between PUMA and United Legwear, which mainly focuses on the sale of socks and bodywear in the U.S. and Canada. PUMA holds a 51% stake in the company. As part of the ongoing reset measures and efforts to optimise the PUMA distribution network, PUMA is considering moving from a partnership model to a licensing model in 2025. The PUMA United business is currently fully integrated in the operating segment “Region North America”.

     

    Outlook FY 2025

    Amid ongoing volatile geopolitical and macroeconomic volatility, PUMA anticipates that both sector-wide and company-specific challenges will significantly impact performance for the remainder of 2025. Key factors include a muted brand momentum, shifts in channel mix and quality, the impact of U.S. Tariffs, and elevated inventory levels.

    PUMA confirms its full-year 2025 outlook. Sales on a currency-adjusted basis are forecast to decline by a low double-digit percentage, a reported EBIT loss is expected and capital expenditures of around € 250 million.

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  • Oil giant Shell launches $3.5 billion share buyback as profit beats

    Oil giant Shell launches $3.5 billion share buyback as profit beats

    The Shell gas station logo is displayed on February 13, 2025 in Austin, Texas.

    Brandon Bell | Getty Images News | Getty Images

    British oil major Shell on Thursday reported stronger-than-expected third-quarter profit, citing robust operational performance and higher trading contributions.

    Shell posted adjusted earnings of $5.4 billion for the quarter, beating analyst expectations of $5.05 billion, according to an LSEG-compiled consensus. A separate, company-provided analyst forecast had put Shell’s expected third-quarter profit at $5.09 billion.

    The London-headquartered firm reported adjusted earnings of $6 billion over the same period last year and $4.26 billion for this year’s April-June period.

    “Shell delivered another strong set of results, with clear progress across our portfolio and excellent performance in our Marketing business and deepwater assets in the Gulf of America and Brazil,” Shell CEO Wael Sawan said in a statement.

    The company also announced another $3.5 billion in share buybacks over the next three months, maintaining the pace of its shareholder returns. The company said it marked the 16th consecutive quarter of at least $3 billion in buybacks.

    The company’s net debt, meanwhile, came in at $41.2 billion at the end of the third quarter, down from $43.2 billion on a quarterly basis.

    Shell’s London-listed share price has climbed more than 16% year-to-date, outperforming its industry peers.

    Its results come after Norwegian energy firm Equinor on Wednesday posted a steeper-than-expected drop in third-quarter profit, with adjusted operating income coming in at $6.21 billion for the July-September period.

    U.S. oil giants Exxon Mobil and Chevron are both scheduled to report third-quarter results on Friday, with Britain’s BP set to follow suit on Tuesday.

    This is breaking news. Please refresh for updates.

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  • Yen weakens as BOJ offers few rate clues; investors indecisive after Trump-Xi deal – Reuters

    1. Yen weakens as BOJ offers few rate clues; investors indecisive after Trump-Xi deal  Reuters
    2. Bank of Japan keeps interest rates unchanged  Bitget
    3. UPDATE1: Yen weakens to 153 vs. U.S. dollar after BOJ stands pat  MarketScreener
    4. USD/JPY outlook: BOJ holds but hike risk remains, yen s  FOREX.com
    5. Bank of Japan Holds Rate: What It Means for Crypto Startups and Salaries  OneSafe

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  • Stellantis Reports 13% Year-Over-Year Increase in Q3 2025 Shipments and Net Revenues

    Stellantis Reports 13% Year-Over-Year Increase in Q3 2025 Shipments and Net Revenues

    AMSTERDAM – Stellantis N.V. today announced its Q3 2025 results, reporting a 13% year-over-year increase in Net revenues to €37.2 billion, primarily driven by growth in North America, Enlarged Europe and Middle East & Africa, while South America saw a moderate decrease. Consolidated shipments(1) totaled 1.3 million units, up 13% (152,000 units), with most of the increase due to a 35% improvement in North America reflecting the benefits of normalized inventory dynamics, compared to the prior year in which the U.S. dealer stock reduction initiative temporarily decreased production.

     

    Progressing Product Launches

    By the end of Q3, six of the ten new vehicles planned for 2025 introduction were successfully launched. Additional launches in the fourth quarter will reintroduce several volume nameplates which exemplify important, decisive changes already made in the Company’s strategy to provide customers with greater freedom to choose the cars and the configurations they want. Ordering is now open for the SIXPACK-powered Dodge Charger Scat Pack (2-door), the four-door Dodge Charger Daytona, Jeep® Cherokee, Fiat 500 Hybrid and DS No.8.

    Sales momentum in the U.S. improved, with a 6% increase in Q3 sales year-over-year. This trend was evidenced across the Jeep®, Ram, Chrysler, and Dodge brands – taking the Company to a monthly market share of 8.7% in September, the highest in 15 months. Another milestone in September was the return to market of the HEMI® V-8-powered Ram 1500.

    In Enlarged Europe, several recently introduced models, including the Citroën C3, C3 Aircross, Opel/Vauxhall Frontera and Fiat Grande Panda, supported an improved market share in the B-segment, underpinned by increased production. Net revenues rose 4% compared to the prior year period. Market share in EU30 fell to 15.4%, affected by market declines in France and Italy, where Stellantis has greater exposure and a moderately lower market share in the LCV segment.

    Outside North America and Enlarged Europe, Stellantis delivered solid commercial results. Aggregated sales grew 6% year-over-year, led by Middle East & Africa, partially offset by South America.

     

    Stellantis Leadership Team

    On 8th October Stellantis announced a number of new appointments to its Senior Leadership Team, promoting exceptional talent from both inside and outside the Company to sharpen regional focus and drive long-term sustainable success.

     

    $13 Billion Investment to Grow in the United States

    On October 14, Stellantis unveiled a strategic $13 billion investment program for the next four years to accelerate growth and expand its manufacturing footprint in the United States. This marks the largest U.S. investment in the Company’s 100-year history and will include the launch of five new vehicles and the creation of over 5,000 jobs.

    • Belvidere, Illinois, plant to reopen for production of two new Jeep® models – Cherokee and Compass
    • All-new Ram midsize truck to be assembled in Toledo, Ohio
    • Warren, Michigan, plant to produce all-new large SUV with both range-extended EV and internal combustion engine powertrains
    • Next-generation Dodge Durango to be built in Detroit
    • Kokomo, Indiana, facilities to produce all-new GMET4 EVO engine

    The new investment will further expand Stellantis’ already significant U.S. footprint, increasing annual finished vehicle production by 50% over current levels. The new product launches will be in addition to a regular cadence of 19 refreshed products across all U.S. assembly plants and updated powertrains planned through 2029.

     

    Stellantis H2 2025 Financial Guidance

    Stellantis reiterates its H2 2025 financial guidance, which anticipated continued improvement in Net revenues, AOI and Industrial free cash flows compared to H1 2025.

    As we continue making important and necessary changes to our strategic and product plans, also in response to regulatory, geopolitical, macro-economic and other external and internal developments, we anticipate incurring charges in H2 2025, which, once finalized, we expect will largely be excluded from AOI.

    We have also initiated a review of our warranty estimation process, which we expect to result in changes in those estimates and one-off charges in H2 2025.

     

    Upcoming Events

    On October 30, 2025, at 1:00 p.m. CET / 8:00 a.m. EDT, a live webcast and conference call will be held to present Stellantis’ Third Quarter 2025 Shipments and Revenues, with the presentation expected to be posted at approximately 8:00 a.m. CET / 3:00 a.m. EDT. The webcast and recorded replay will be accessible under the Investors section of the Stellantis corporate website (www.stellantis.com).

     

    See Downloads for full version of press release

     

     

    About Stellantis

    Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is a leading global automaker, dedicated to giving its customers the freedom to choose the way they move, embracing the latest technologies and creating value for all its stakeholders. Its unique portfolio of iconic and innovative brands includes Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. For more information, visit www.stellantis.com.

     

     


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  • Pakistan to Launch 47 New Co-Working Hubs for Startups and Freelancers

    Pakistan to Launch 47 New Co-Working Hubs for Startups and Freelancers

    The Ministry of Information Technology and Telecommunication (MoITT) has set an ambitious target to establish 47 co-working spaces across Pakistan during the current financial year to aid startups and freelancers.

    According to officials, the ministry had successfully completed the target of setting up 40 co-working spaces nationwide last year. The long-term plan aims to expand the total number of such centers to 250 by February 2027 under a phased implementation strategy.

    PSEB, which is implementing the project, has invited applications from public and private entities to establish NCSP centers nationwide under the Prime Minister’s Initiatives, Support for IT Startups, Specialized IT Trainings, and Venture Capital. The program aims to create an enabling environment for IT startups and freelancers by offering professional networking opportunities and shared infrastructure.

    Interested entities can obtain assistance in the form of interest-free loans of up to Rs. 10 million through partner banks, with all applications required to be submitted electronically through the EPADS portal by November 3, 2025.

    e-Rozgar Rebranded

    Officials revealed that the ministry has renamed the e-Rozgar Centers project to the National Co-working Spaces Project (NCSP) to avoid confusion, as the Punjab government operates a separate initiative with the same name.

    The project, officials clarified, differs from the Punjab-based e-Rozgar Centers as it operates under a public-private partnership model. In this framework, the government will bear half the cost of trainers, while the private sector will share the remaining expenses. Trainers will mentor freelancers and entrepreneurs, promoting collaboration among individuals with diverse skill sets. The idea is to create shared innovation hubs where networking and knowledge exchange lead to the development of new ideas, startups, and small enterprises.

    According to officials, the ministry plans to establish co-working centers with varying standards depending on the region’s economic and skill landscape. In major cities, larger centers spanning at least 3,500 square feet with a minimum of 100 seats will be developed to meet the growing demand from professionals already familiar with the co-working concept. In smaller cities, the focus will be on building awareness, developing skills, and providing business mentorship to help startups reach the sustainability threshold.

    The National Co-working Spaces Project also aims to promote inclusion, innovation, and entrepreneurship by connecting local talent with digital opportunities. Each center will act as a hub for collaboration, skill-building, and industry facilitation, enabling freelancers and startups to overcome initial operational challenges and contribute to Pakistan’s growing digital economy.


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  • Stoxx 600, FTSE, DAX, EZ GDP, ECB decision

    Stoxx 600, FTSE, DAX, EZ GDP, ECB decision

    General view of Amsterdam’s city center.

    Nurphoto | Nurphoto | Getty Images

    LONDON — European stocks are expected to open in mixed territory on Thursday as regional investors await more corporate earnings, the latest growth data and a European Central Bank rate decision.

    The U.K.’s FTSE index is seen opening 0.2% lower, Germany’s DAX 0.18% higher and France’s CAC 40 and Italy’s FTSE MIB are seen around the flatline this morning, according to data from IG.

    It’s another busy day for earnings on Thursday with third-quarter results coming from TotalEnergies, ING Groep, Volkswagen, Crédit Agricole, Société Générale, Anheuser-Busch InBev, Shell, BBVA and Schneider Electric.

    Data releases include flash euro zone third quarter GDP (due at 10am London time) and unemployment figures, as well as inflation data from Spain and Germany.

    The European Central Bank is also due to announce its latest interest rate decision on Thursday, although economists have branded it a “non event” given the bank is highly likely to keep its key interest rate, the deposit facility rate, steady at 2%.

    Trump, Xi and the Fed

    Global markets were also assessing the in-person meeting between U.S. President Donald Trump and Chinese President Xi Jinping in Asia on Thursday.

    Trump said he had reached a one-year agreement with Xi on rare earths and other critical minerals, and that Washington will cut fentanyl-related tariffs on Beijing to 10% after their meeting in South Korea.

    BUSAN, SOUTH KOREA – OCTOBER 30: U.S. President Donald Trump greets Chinese President Xi Jinping ahead of a bilateral meeting at Gimhae Air Base on October 30, 2025 in Busan, South Korea.

    Andrew Harnik | Getty Images News | Getty Images

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  • Solstad Maritime ASA: Presentation of Third-Quarter 2025 Results

    Solstad Maritime ASA: Presentation of Third-Quarter 2025 Results

    30.10.2025

    Solstad Maritime ASA: Presentation of Third-Quarter 2025 Results

    Skudeneshavn, 30 October 2025

    Solstad Maritime ASA (SOMA) is pleased to present its financial results for the third quarter of 2025.

    CEO Lars Peder Solstad stated:

    “The market has shown less activity in third quarter than earlier expected. At the same time, we maintain a positive outlook for 2026, supported by steady tendering activity and a solid order backlog.”

    • Adjusted EBITDA of USD 69 million in the quarter compared to USD 91 million in the same quarter last year. USD 229 million year to date compared to USD 220 million last year.
    • Several contract extensions and new contracts entered into, contributing to a total order intake of USD 180 million in the quarter equaling a book-to-bill ratio of 1.2x
    • Continued shareholder friendly approach with a cash dividend for Q3 2025 of USD 0.032/share, totaling USD ~15 million

    Contacts

    Lars Peder Solstad CEO, at +47 91 31 85 85

    Kjetil Ramstad CFO, at +47 907 59 489

    Solstad Maritime ASA

    www.solstad-maritime.com

    This information is subject of the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

    SOMA Q3 2025 Presentation

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