Category: 3. Business

Ryanair would be open to using Elon Musk’s Starlink wifi on its planes in the future, its finance chief has suggested, amid a feud between the boss of the Irish airline and the world’s richest person.

The airline would look at “whoever is the best, when the tech and price is right” for in-flight wifi, the Ryanair chief financial officer, Neil Sorahan, said.

Sorahan was speaking after an online spat between Ryanair boss Michael O’Leary and Musk, after O’Leary was asked whether he would follow Lufthansa and British Airways in installing Starlink satellite internet technology on his fleet of 650 aircraft.

The chief executive rejected the idea, saying that adding antennas to the jets would result in a “2% fuel drag”, adding an extra $200-250m to its $5bn (£3.66bn) annual kerosene bill.

Musk said the interpretation was “misinformed” in a post on his X platform, triggering a tit-for-tat exchange of insults, with each man calling the other an “idiot”.

Sorahan said the spat was “good fun” and had brought more people to the Ryanair website. O’Leary said last week that his quarrel with Musk had increased bookings by between 2% and 3%, after the company pushed a “big idiot sale” campaign poking fun at the Tesla chief executive, estimated to be worth $788bn by Forbes.

However, Sorahan added that in-flight wifi was still a long way away for Ryanair. “I have been looking at wifi for as long as I have been at Ryanair,” said the executive, who joined the airline in 2003. “There is still a fuel cost that we would have to absorb.”

There are concerns passengers may be less willing to pay for wifi on Ryanair’s short-haul flights, which typically only take between one and three hours.

The airline, which has grown to become the biggest in Europe, raised its forecasts for passenger numbers, profit growth and fares on Monday. It now expects to carry 216 million passengers by March 2027, and said average fares this year would rise by 7% to 8%, compared with previous guidance of 7%. Average fares rose 4% to €44 (£38) in its third quarter to the end of December.

Its profit after tax fell 22% to €115m in the third quarter, excluding a provision of €85m for a fine from the Italian competition authority, which the company said it was appealing against. However, it expects profit after tax between €2.13bn and €2.23bn for its full year.

The airline said Boeing deliveries were progressing well compared with a year ago when the aircraft supplier struggled to deliver jets on time. It said the final four Max 8 models would be delivered by the end of February, while the newer Max 10 would join the Ryanair fleet in spring 2027.

Shares in Ryanair, which are listed in Dublin and New York, dropped 1.7% in early European trading on Monday. They rose by more than 50% over the course of last year.

With property catastrophe reinsurance rates significantly softening at the January 2026 renewals, rating agency Fitch forecasts that further softening will continue into the April, June, and July renewals later this year.

At the same time, the agency confirmed that it is maintaining its ‘deteriorating’ sector outlook for global reinsurance in 2026, citing moderately weaker operating and business conditions expected over the year.

Fitch adjusted its outlook for the global reinsurance industry to “deteriorating” from “neutral” back in September, with the agency saying at the time that “Softer pricing conditions and rising claims costs will pressure underwriting margins, though profitability remains strong by historical standards.”

Analysts at Fitch recently highlighted how record amounts of reinsurance capital supply from both traditional and alternative sources exceeded the slight demand increase from buyers during the January 1, 2026 renewals, which drove a softening market, but one that analysts feel can still deliver profits.

“Property catastrophe pricing significantly softened at the January 2026 reinsurance renewals following rate reductions at the mid-year 2025 renewals, with reductions in risk-adjusted prices across most lines,” Fitch said.

Rate reductions of up to 5% were observed for US and European catastrophe-exposed portfolios, while for loss-free US property business, pricing declines reached as much as 20%, compared with a range of down 10% to up 10% from the previous year.

Additionally, European property rates also fell by up to 20% for loss-free accounts at the January renewals, versus a range of down 15% to up 5% in 2025.

As mentioned, the rating agency expects to see these softening conditions continue throughout 2026.

“We anticipate softening market conditions to continue at the midyear 2026 renewals in April (Asia-focused) and June/July (Florida). Abundant capacity and rising competition are likely to lead to gradual price erosion across most reinsurance lines and looser policy terms in property lines, barring large loss activity,” Fitch explained.

Fitch also outlined that competitive behaviour remains rational and disciplined, with loss ratios continuing to benefit from favourable claims frequency trends.

Moreover, while severe hurricane-related events and other natural catastrophe losses remain a key source of volatility for P&C insurers, Fitch Ratings believes the sector is well capitalised to withstand large single-event losses.

However, the agency warned that a series of major catastrophic events occurring in quick succession could strain capital positions and result in adverse rating consequences.

“Fitch has a ‘neutral’ fundamental sector outlook for the US property/casualty (P&C) insurance sector in 2026, as well as for both commercial and personal lines. Our ‘deteriorating’ outlook for the global reinsurance sector for 2026 reflects that underlying operational and business conditions are likely to worsen overall for reinsurers globally,” Fitch concluded.

Suspected Japanese intervention to sell USD/JPY has come at a weak time for the dollar after last week’s geopolitical fracturing. From what we understand so far, Japanese authorities may have intervened on Friday when USD/JPY pushed above 159 after the Bank of Japan policy meeting. The big kicker, however, was widespread discussion that at the London close at 17:00 GMT on Friday, the Federal Reserve started asking banks in New York about their position sizes in USD/JPY. This was seen as akin to a ‘rate check’, where a central bank might be preparing the market for physical intervention. That the Fed was allegedly doing this and not making clear that this activity was purely on behalf of Japanese authorities – i.e., that the Fed was not acting purely as an ‘agent’ – has led to understandable suggestions that the US might be on the verge of joint intervention with Japan. This is something we discussed in this month’s FX Talking.

The prospect of bilateral Japan-US intervention is understandably a more powerful one than mere passive intervention from Tokyo alone. Why would Washington want to get involved? We see two reasons: a) the weak yen was adding to last week’s JGB sell-off and indirectly driving US Treasury yields higher. If there is any financial instrument more important than the stock market to the White House right now, it is US Treasuries. And b) the strong USD/JPY was potentially unwinding the work of US tariffs on Japan and giving Japanese manufacturers a competitive advantage.

However, this is not a fundamentally driven move. Yen real interest rates are still negative, and the snap Japanese election on 8 February could still see more pressure emerge on JGBs and the yen. And away from the geopolitical risk premium being attached to US assets, the dollar’s fundamental story has not deteriorated. Plus, we suspect this week’s FOMC meeting could prove slightly dollar bullish.

No doubt, Japanese and potentially US authorities, too, like this constructively ambiguous approach to FX intervention. Traders will be bracing for activity at both market opens and closes now. An upside gap in USD/JPY at 155.65 may now prove intraday resistance. But for the dollar sell-off to continue like this, we will probably need to see some poor domestic US news. Away from the FOMC, this will heighten scrutiny on earnings releases from US Big Tech this Wednesday and Thursday.

This yen intervention story has weighed heavily on DXY, where the prospect of up to $100bn of sales (that’s what Tokyo sold in summer 2024) has caught the dollar at a weak moment. DXY has an upside gap to 97.42 (now resistance) and has a bias to last year’s lows at 96.20/35 – but really needs some fundamental backing for these moves to sustain.

Chris Turner

Bruce Richards, Co-Founder of Marathon, said: “For 28 years, Marathon’s unwavering mission is to deliver exceptional investment performance for clients through our robust origination platform, rigorous investment approach, deep specialization, and disciplined risk-management. CVC’s focus on delivering exceptional investment returns, integrity, collaboration, and client partnership closely aligns with Marathon’s culture. CVC’s global reach and its investment insights across multiple asset classes and geographies will deliver a powerful partnership, and we greatly look forward to growing our world class credit platform together with CVC.”

The $1.2 billion closing consideration comprises $400 million in cash and up to $800 million in CVC equity². The transaction also includes earn-out consideration linked to Marathon’s future financial performance over the period from FY2027 to FY2029, of up to $200 million in cash and $200 million in CVC equity².

The acquisition is expected to be EPS neutral in 2027 and EPS accretive from 2028 onwards, before any revenue or cost synergies.

Bruce Richards and Lou Hanover will continue to co-head the Marathon credit strategies, and Marathon will be re-branded CVC-Marathon.

Bruce Richards will join the Partner Board of CVC, and alongside Andrew Davies, will be responsible for managing the combined CVC Credit business. 

The transaction is subject to regulatory and other consents and is expected to close in Q3 2026.  Advisers to CVC included JP Morgan, Freshfields, Fried Frank and Ernst & Young. Advisers to Marathon included Sidley Austin.

Transaction details

CVC will acquire 100% of Marathon in a cash and equity transaction with a base consideration valued at up to $1.2 billion, comprising consideration at closing of $400 million in cash and up to 45 million units of equity to be issued by a wholly-owned subsidiary of CVC (“SubCo Units”), exchangeable on a one-for-one basis into CVC ordinary shares, subject to customary completion accounts adjustments and, in respect of 11 million SubCo Units, FY 2027 Marathon financial performance adjustments.  

The transaction also includes earn-out consideration linked to Marathon’s future financial performance over the period from FY 2027 to FY 2029, of up to $200 million of cash and 11 million SubCo Units. The earn-out consideration is only payable to Marathon’s partners and employees, increasing long-term alignment and continuity across a broader group. Marathon’s minority partner will receive $280 million of the cash consideration portion of the transaction for 100% of their interest in Marathon.

CVC ordinary shares issued in exchange for any SubCo Units will be held subject to substantially the same lock-up restrictions entered into by CVC’s current and former employees (and permitted transferees) as part of CVC’s IPO in April 2024. The cash portion of the transaction will be funded from CVC’s current cash on balance sheet and undrawn credit facilities.

^{1 As at 30 September 2025.}

^{2  The CVC equity will be issued by a wholly-owned CVC subsidiary and will be exchangeable on a one-for-one basis into CVC ordinary shares.}

Canon’s sustainability efforts recognized with top 1% Platinum rating from global sustainability ratings organization EcoVadis for second consecutive year

TOKYO, January 26, 2026—Canon Inc. announced today that the company has been awarded the Platinum rating for the second consecutive year for its sustainability efforts by France-based global sustainability ratings organization EcoVadis. The award places Canon within the top 1% of companies assessed globally.

EcoVadis assesses over 150,000 companies spanning 185 countries and 250 industries according to various criteria across the four themes of “Environment,” “Labor & Human Rights,” “Ethics” and “Sustainable Procurement.” As worldwide interest in corporate sustainability efforts increases, companies around the world now take into consideration the EcoVadis rating of potential clients and partners.

The Canon Group has made continued efforts toward sustainability, which led to high rankings in all four categories. Canon received particularly high marks in the categories of “Environment” and “Labor & Human Rights” which helped it to obtain the Platinum rating for a second consecutive year.

Canon’s initiatives for sustainability

Canon is working to strengthen initiatives related to environmental and societal issues in order to contribute to societal sustainability.

In the environmental field, Canon aims to achieve net-zero greenhouse gas (GHG) emissions throughout entire product life cycles (Scope 1, 2, and 3) by 2050.¹ Canon has also set science-based GHG emissions reduction targets in line with SBTi standards: by 2030, a 42% reduction in Scope 1 and 2 emissions and a 25% reduction in Scope 3 emissions (Category 1 and 11) compared to 2022 levels.²

Furthermore, Canon respects the human rights of all stakeholders involved in its business activities, including employees and business partners. It has formulated the Canon Group Human Rights Policy as a declaration of its stance on human rights and implements human rights due diligence throughout the entire Group while carrying out activities to spread awareness among Group employees both in Japan and overseas through such methods as e-learning.

• 1

  Scope 1: Direct emissions (city gas, LPG, diesel, kerosene, non-energy-related greenhouse gases, etc.); Scope 2: Indirect emissions (electricity, steam, etc.); Scope 3: Emissions in the supply chains. category 1: Purchased goods and services; category 11: Use of products sold.

• 2

  The Science Based Targets initiative (SBTi) is a global initiative that encourages companies to set GHG reduction targets based on climate science. It is jointly operated by the UN Global Compact (UNGC), World Resources Institute (WRI), World Wide Fund for Nature (WWF), and the CDP.

As global markets navigate a period of volatility and geopolitical uncertainty, the Asian market continues to present intriguing opportunities for investors, particularly in the realm of growth companies with high insider ownership. In this environment, stocks that demonstrate robust earnings growth and strong insider commitment can offer a compelling mix of potential stability and upside, making them noteworthy considerations for those looking to understand current trends in Asia’s evolving economic landscape.

Click here to see the full list of 599 stocks from our Fast Growing Asian Companies With High Insider Ownership screener.

Below we spotlight a couple of our favorites from our exclusive screener.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: MIXUE Group operates in the production and sale of fruit drinks, tea drinks, ice cream, and coffee products across Mainland China and internationally, with a market cap of HK$163.39 billion.

Operations: The company’s revenue segments include Franchise and Related Services generating CN¥707.31 million, Sales of Goods contributing CN¥27.37 billion, and Sales of Equipment accounting for CN¥949.98 million.

Insider Ownership: 28.8%

Earnings Growth Forecast: 14.2% p.a.

Mixue Group, a rapidly expanding entity with substantial insider ownership, is poised for growth with earnings projected to rise by 14.2% annually, outpacing the Hong Kong market. Despite not having significant insider trading activity recently, Mixue’s strategic expansion into the Americas signifies its commitment to global growth. The company opened its first U.S. store in Los Angeles and plans further expansion across New York, leveraging a robust supply chain and value-driven menu to capture international markets effectively.

Simply Wall St Growth Rating: ★★★★★☆

Overview: Sieyuan Electric Co., Ltd. specializes in the research, development, production, sale, and service of power transmission and distribution equipment both in China and internationally, with a market cap of CN¥147.46 billion.

Operations: The company’s revenue is primarily derived from the Distribution and Controls Equipment/Furniture segment, totaling CN¥21.21 billion.

Insider Ownership: 35%

Earnings Growth Forecast: 24.3% p.a.

Sieyuan Electric’s recent financial performance highlights its growth potential, with sales increasing to CNY 21.21 billion and net income rising to CNY 3.16 billion for the year ending December 2025. Despite being dropped from the FTSE All-World Index, its earnings grew by a substantial 54.4% over the past year, with forecasts predicting continued revenue growth of 21.1% annually—outpacing the broader Chinese market rate of 14.7%.

Simply Wall St Growth Rating: ★★★★★☆

Overview: Shanghai Huace Navigation Technology Ltd. operates in the field of navigation and positioning technology, with a market cap of CN¥33.03 billion.

Operations: Shanghai Huace Navigation Technology Ltd. generates its revenue from various segments, but specific segment details are not provided in the available text.

Insider Ownership: 24.2%

Earnings Growth Forecast: 24% p.a.

Shanghai Huace Navigation Technology’s growth trajectory is bolstered by its high insider ownership, with earnings expected to grow significantly at 24% annually. The company recently launched the Apache 6 – 2026 Edition, an advanced Unmanned Surface Vessel for precise mapping applications. Despite a volatile share price and a high P/E ratio of 48.1x, its revenue growth forecast of 22.6% per year surpasses the Chinese market average, indicating robust expansion potential in diverse sectors like agriculture and marine surveying.

This 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.The analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years.

Companies discussed in this article include SEHK:2097 SZSE:002028 and SZSE:300627.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

Story Continues

Simply Wall St Value Rating: ★★★★★★

Overview: Delta Israel Brands Ltd. designs, develops, markets, and sells various clothing products in Israel with a market cap of ₪3.57 billion.

Operations: Delta Israel Brands generates revenue primarily through its owned brands, contributing ₪1.11 billion, and franchise brands, which add ₪181.33 million to its total income.

Delta Israel Brands, a nimble player in the Middle East’s retail scene, showcases robust financial health with no debt and a remarkable transition from a 137.7% debt-to-equity ratio five years ago. The company reported Q3 2025 sales of ILS 336.19 million, up from ILS 288.83 million the previous year, while net income reached ILS 37.2 million compared to last year’s ILS 30.58 million. Despite high-quality earnings, its recent negative earnings growth of -4.2% contrasts with the industry average of 4.9%. With free cash flow positive at US$118M and consistent profitability, Delta seems poised for strategic opportunities ahead.

Simply Wall St Value Rating: ★★★★☆☆

Overview: Ratio Energies – Limited Partnership, along with its subsidiaries, is engaged in the exploration, development, and production of oil and natural gas in Israel, with a market capitalization of ₪5.42 billion.

Operations: The primary revenue stream for Ratio Energies comes from its oil and gas exploration and production segment, generating $279.48 million. The company has a market capitalization of ₪5.42 billion.

Ratio Energies, a promising player in the Middle East energy sector, has shown resilience despite recent challenges. The company’s net debt to equity ratio stands at 93.8%, which is high but has improved significantly from 444.2% five years ago. With interest payments covered 5.3 times by EBIT, financial stability appears robust despite negative earnings growth of -4%. Trading at 34% below estimated fair value suggests potential for appreciation. Recent reports indicate a dip in revenue to US$76 million compared to US$85 million last year, with net income also slightly down to US$35 million from US$38 million previously.

This 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.

Companies discussed in this article include DFM:AMANAT TASE:DLTI and TASE:RATI.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

We recently published an article titled 9 High Growth Canadian Stocks to Buy. 

Another high-growth Canadian stock to buy, Docebo Inc. (NASDAQ:DCBO) is an education technology company established in 2005. The company is known for Docebo Learn, its core learning management system offering. Docebo lists its shares on both the Toronto Stock Exchange and the Nasdaq Global Select Market.

On January 20, Needham analyst reiterated a Buy rating on Docebo Inc. (NASDAQ:DCBO) and set a price target of $38.00. Overall analyst sentiment on the stock remains highly positive, with a Strong Buy consensus and an average price target of $35.33, implying upside potential of roughly 84%. Craig-Hallum has also reaffirmed its Buy rating on the shares.

During its Q3 2025 earnings call, Docebo Inc. (NASDAQ:DCBO) highlighted plans to continue growing its base of customers generating more than $100,000 in annual contract value, underscoring solid momentum across the enterprise and mid-market segments. Management pointed to notable new customer wins such as Veolia, alongside expanded adoption within existing clients, including Amazon, as evidence of sustained demand and deeper platform penetration.

Docebo Inc. (NASDAQ:DCBO) also announced the introduction of a credit-based pricing model for its AI-powered modules, including AI Virtual Coach and AI Video Presenter. This approach not only enhances flexibility for customers but also creates a clear pathway for incremental monetization over time, while reinforcing Docebo’s broader strategy of embedding artificial intelligence more deeply across its product suite.

While we acknowledge the potential of DCBO 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.

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Disclosure: None.