Category: 3. Business

Fineco, which offers online banking and brokerage service and low-cost savings products, said net income for July-September totalled 163 million euros ($190 million), above a Visible Alpha analyst consensus of 154 million euros.

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Fineco CEO Alessandro Foti said that “2025 would be a record year in terms of new clients, surpassing the historical high of 2024”. The group said in a statement it had added around 19,300 clients last month, up around 30% from October 2024.

It expects net inflows of new money last month to have risen by more than 30% year-on-year to around 1.3 billion euros.

“2025 is expected to be a record year for brokerage revenues. The October figure is just the latest evidence of the higher revenue base,” Fineco said.

Quarterly revenue was 325 million euros, which was in line with Fineco’s third quarter of 2024 and surpassed an analyst consensus forecast of 314 million euros, helped by a stronger than anticipated net interest margin.

NIM measures income banks make from the gap between interest rates charged to borrowers and what they pay depositors.

“For 2026, a positive contribution to revenue growth is expected from all business areas. More details will be provided during Capital Market Day on March 4, 2026,” Fineco said.

Jefferies said the outlook implied “a final confirmation that NIM is expected to grow from here and in 2026, following the decline seen in 2025.”

($1 = 0.8575 euros)

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New mission-ready agents work in concert with custom-built and third-party agents to automate high-impact workflows across the full security lifecycle

AUSTIN, Texas and Fal.Con Europe 2025, Barcelona – November 5, 2025 – CrowdStrike (NASDAQ: CRWD) today expanded its Agentic Security Workforce, introducing new mission-ready agents that extend the Falcon® platform and drive the evolution of the agentic SOC. Building on the first wave of agents introduced at Fal.Con 2025, new agents bring agentic automation to common Falcon platform tasks such as app creation and data onboarding, accelerating outcomes and liberating analysts to focus on the strategic decisions that strengthen security.

“If agents are expected to think, reason, and act like an expert analyst, they must be trained on expert experience, not legacy playbooks,” said George Kurtz, CEO and founder of CrowdStrike. “That’s the difference between static automation and true intelligence – playbooks train automation, people train intelligence. CrowdStrike’s agents learn from the world’s best SOC operators, giving them the judgment to act autonomously and the discipline to stay under defender command.”

Expanding the Agentic Security Workforce

Delivered through Falcon platform modules, the Agentic Security Workforce unites existing agents trained on millions of Falcon® Complete SOC decisions across prevention, detection, investigation, and response, with new agents that streamline common tasks based on real-world platform usage and expertise. Unlike automation platforms trained on machine-generated playbook data, CrowdStrike agents inherit expert human judgment to reason over massive datasets and take autonomous action as an elite analyst would. New and updated agents include:

• Foundry App Creation Agent (Falcon Foundry): Empowers teams to build and deploy custom security applications without code. Using natural language, analysts describe what they need, and the agent plans, designs, and accelerates the path from idea to application.
• Data Onboarding Agent (Falcon Next-Gen SIEM): Accelerates data onboarding into Falcon® Next-Gen SIEM by streamlining data pipeline creation – from ingestion and configuration to real-time validation and troubleshooting.
• Updated Exposure Prioritization Agent (Falcon Exposure Management): Includes newly added authenticated scanning and continuous visibility from Falcon® Exposure Management. Powered by ExPRT.AI, it prioritizes action, showing teams exactly what to fix first and automatically remediate with risk-based patching through Falcon® for IT.

Orchestrating the Agentic SOC

Charlotte AI AgentWorks and Charlotte Agentic SOAR extend the power of the Agentic Security Workforce into a fully connected defense system spanning the agentic ecosystem and the full security lifecycle. AgentWorks enables organizations to build no-code, custom agents. Charlotte Agentic SOAR serves as the orchestration layer that allows analysts to unify and command CrowdStrike, custom-built, and third-party agents to reason over shared context and execute coordinated workflows. Together, these innovations accelerate the agentic SOC to life, giving defenders the AI advantage to outthink and outpace AI-accelerated threats.

To learn more about CrowdStrike’s expanded Agentic Security Workforce, read our blog and visit here.

About CrowdStrike

CrowdStrike (NASDAQ: CRWD), a global cybersecurity leader, has redefined modern security with the world’s most advanced cloud-native platform for protecting critical areas of enterprise risk – endpoints and cloud workloads, identity and data.

Powered by the CrowdStrike Security Cloud and world-class AI, the CrowdStrike Falcon® platform leverages real-time indicators of attack, threat intelligence, evolving adversary tradecraft and enriched telemetry from across the enterprise to deliver hyper-accurate detections, automated protection and remediation, elite threat hunting and prioritized observability of vulnerabilities.

Purpose-built in the cloud with a single lightweight-agent architecture, the Falcon platform delivers rapid and scalable deployment, superior protection and performance, reduced complexity and immediate time-to-value.

CrowdStrike: We stop breaches.

Learn more: https://www.crowdstrike.com/

Follow us: Blog | X | LinkedIn | Instagram

Start a free trial today: https://www.crowdstrike.com/trial

© 2025 CrowdStrike, Inc. All rights reserved. CrowdStrike and CrowdStrike Falcon are marks owned by CrowdStrike, Inc. and are registered in the United States and other countries. CrowdStrike owns other trademarks and service marks and may use the brands of third parties to identify their products and services.

Forward-Looking Statements

This press release includes descriptions of products, features, or functionality which may not currently be generally available. Any such references are provided for informational purposes only. The development, release, and timing of all features or functionality remain at our sole discretion and may change without notice. These statements are subject to risks, uncertainties, and assumptions that may cause actual results to differ materially from those expressed or implied. Customers should make purchasing decisions based only on services and features that are currently generally available. For more information on our existing offerings please talk to your CrowdStrike representative.

Media Contacts

Jake Schuster

CrowdStrike Corporate Communications

press@crowdstrike.com

Shares of major technology companies have fallen over fears about the valuations of firms linked to the artificial intelligence (AI) industry.

Investors have grown increasing wary about what they are calling an “AI bubble” this year that has seen tech stock valuations hit record highs.

Major indexes in Asia were the hardest hit on Wednesday, following a sell-off in the US. Japan’s exchange fell more than 3% dragged lower by tech investment giant, SoftBank, which plunged more than 10%.

AI valuation concerns took hold in the US as well after it was revealed the trader who inspired The Big Short has bet $1.1bn on a fall in prices for AI-related stocks Nvidia and Palantir.

“It seems fatigue over AI and the current earnings run has investors questioning the sustainability of the AI hype. That’s dragged down AI companies overnight in markets,” said financial analyst Farhan Badami.

Markets worldwide have climbed in over the year as investors placed their chips in companies linked to AI, including Nvidia, Intel and AMD.

Many jumps in tech shares have been linked to major investments in firms. For instance, Amazon shares hit an all-time high on Monday after the announcement of a $38bn (£28bn) deal with OpenAI.

But the shares of many tech firms fell on Wednesday. Amazon’s stock dipped by 1.84% and notably, Nvidia – recently the first company to ever be valued at $5tn – dropped by close to 4%.

SoftBank, one of Japan’s largest firms, suffered one of steepest drop in shares. The fall weighed especially hard on Japan’s Nikkei index.

The investment firm has invested heavily in AI development, channelling billions into tech companies like OpenAI, Intel and other players in the sector.

SoftBank’s decline stems from the recent “sharp rally” in its shares, which investment analyst Vincent Fernando describes as a “double-edged sword”.

The surge can attract investors, but also leaves the stock vulnerable to pullbacks whenever market sentiments shift, he said.

“The market can worry if the company is overspending on AI and won’t make a sufficient return on that spend,” said Mr Fernando from investment consultancy Zero One.

Tech shares also took a hit elsewhere in Asia.

South Korea’s Samsung fell by more than 4% while the country’s stock exchange index, the Kospi, was down by 2.85%.

TSMC, which makes semiconductors for Nvidia, was fell nearly 3%.

Mr Badami from financial services firm eToro believes the correction among tech stocks will continue over the next year.

“Investors seem to be feeling that some of the super-high valuations out there aren’t making sense, and AI enthusiasm has definitely fuelled those stretched valuations.”

Spending within AI-focused tech firms has been “really high, and for some companies, they are not making enough money to justify the spending,” said Mr Badami.

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The new Cayenne Electric benefits greatly from the sports car manufacturer’s experience in Formula E. Some of the technology in the fully electric SUV originate from the Porsche 99X Electric and sets standards in terms of efficiency and performance. Among other things, both cars use direct oil cooling of the electric motor and have a recuperation capacity of up to 600 kW. “Formula E is our development lab for the electromobility of tomorrow. This is where we gain valuable insights for our road-going sports cars,” says Dr Michael Steiner, Member of the Board of Management for Research and Development. “The new Cayenne Electric shows how quickly such a technology transfer takes place at Porsche and how relevant our commitment to the electric racing series is to series production.”

Formula E as development lab for electromobility

“In Formula E, efficiency is the difference between victory and defeat. This principle also shapes the Cayenne Electric,” continues Florian Modlinger, Director Factory Motorsport Formula E and team principal of the factory Porsche Formula E team. “Efficiency is not only the focus in terms of the vehicles themselves; the agile working methods proven in racing can also help to shorten development times and accelerate the transfer of technology.”

The heads of motorsport and series development sit close together in Weissach. This promotes the exchange of knowledge between projects. What is tested on the racetrack inspires what happens in series production – and vice versa: the racing car also sometimes learns from the road car. Charging is probably the most striking area for technology transfer; the sockets and plugs of the 99X racing car and the electric Porsche sports cars are completely alike. The underlying CCS (Combined Charging System) technology is not only the standard on the road but also in Formula E.

Direct cooling for maximum efficiency

A prime example of technology transfer from motorsport to series production is direct oil cooling. Here, all current-carrying components of the electric drive system are cooled directly by a specially developed liquid, which significantly improves efficiency and sustained, continuous performance. Porsche has been using this innovative technology in Formula E since the start of the project – with an increasing degree of integration. From 2023, the GT4 e-Performance test vehicle also trialled direct oil cooling on the racetrack. Now it is entering series production, used in the rear motor of the flagship Cayenne Electric.

While in conventional electric motors the coolant flows through a jacket outside the stator, with direct cooling the coolant flows directly along the copper conductors via stator grooves. This allows the heat to be dissipated directly where it is generated. To achieve the same efficiency and performance values, a motor cooled by a water jacket would also have to be about 1.5 times larger. Thanks to direct cooling, it was possible to choose a design for the Cayenne that enables an efficiency of up to 98 per cent. The competition variant in the 99X achieves an even higher value.

Extremely high recuperation power of up to 600 kW

Recuperation significantly increases the efficiency of both vehicles. Energy recovered during braking is fed into the battery and can then be used again for propulsion. More recuperation therefore allows for longer ranges and ultimately smaller batteries – the key to greater performance for both sports and racing cars. In Formula E, the amount of energy available is deliberately limited: the 99X Electric is allowed to start a race with a maximum of 38.5 kWh of usable energy in the battery. If it recovers more energy during braking than its competitors, it then has more energy available to push for the finish line.

“The challenge of recuperation is highly complex,” says Modlinger. “When braking, we want to recover as much energy as possible while reducing speed as quickly as possible. Depending on brake pressure, we also engage the front wheel brakes. The car’s balance should match the driver’s preferences – it contributes to their confidence in the car and, as a consequence, to performance. On the road, it’s also a matter of driving safety. To bring all this together, a variety of software functions are active during braking — a huge area for potential knowledge transfer.”

Up to 600 kW of recuperation power is possible in the Cayenne, depending on speed, temperature and the charge state of the battery. This means that the SUV achieves the same peak value as the 99X Electric. In the Cayenne, too, high-performance recuperation remains active during dynamic driving. In everyday driving situations, about 97 per cent of all braking manoeuvres are purely electric, without the need for mechanical disc brakes to assist. Depending on the driving manoeuvre, recuperation can continue until the vehicle comes to a standstill. It is only when deceleration exceeds the recuperation limit that the friction brakes on the front and rear axles intervene imperceptibly to the driver – a perfect interplay of efficiency and driving comfort, inspired by motorsport.

Fast recharging and robust fast charging processes

Since last season, Formula E has introduced fast charging pit stops known as Pit Boosts. A 30-second charge with a charging capacity of 600 kW provides the battery of the 99X Electric with a 10 per cent energy boost. The Cayenne Electric is also designed for fast pit stops; it takes less than 16 minutes to charge its battery from a 10 to 80 per cent state of charge (SoC).

It’s not just in races that things get heated. Temperatures fluctuate greatly in everyday driving too. Porsche’s philosophy is that high charging performance must be achieved even under adverse conditions across a wide SoC range. The DC charging power of the Cayenne is up to 400 kW. Fast charging is possible from a battery temperature of 15 degrees Celsius. Up to an SoC of about 55 per cent, the charging power is more than 350 kW – so the fast-charging processes are very robust. Within 10 minutes of charging at a suitable station, more than 300 km of range can be added.

Formula E is also a test laboratory and showcase for fast charging: “The drivers push the cars to the limit – sometimes in scorching-hot cities, such as Jakarta. When we come into the pits to charge, the system temperatures are often very high,” says Modlinger. “At the same time, we want to keep the cooling requirements on the racing car as low as possible, because cooling consumes energy and, depending on the hardware, increases weight. So, during Pit Boost pit stops, we demonstrate an energy supply with enormous charging power under extreme conditions.”

In Formula E, Porsche invests its available budget primarily in those vehicle components that are also relevant for road use. According to the regulations, these components are located beneath the bodywork. Modlinger: “Our technical challenges are not visible from the outside. But they are considerable and, in many areas, they are similar to those we face in our electric road-going sports cars.”

Profits at Marks & Spencer have more than halved after the retailer suffered a damaging cyber-attack, which is still affecting its struggling clothing and homeware business.

The retailer said underlying profits more than halved to £184.1m in the six months to 27 September from £413.1m a year before, after it had to halt online orders of clothing and homewares for more than six weeks.

The company’s clothing and homeware sales slumped 16.4% in the half year. The retailer said the division had been “slower” to recover from the hack than its food arm.

M&S said that sales of fashion in stores had been “impacted by reduced availability and fewer visits linked to the absence of click and collect”, and warehouse systems were now restored so “both our website and stores are improving availability, and trading is recovering”.

Food sales rose by a slightly better than expected 7.8% in the half year and the retailer said it was “largely recovered” from the effects of the attack. Group sales rose 22% to £7.96bn.

“We are confident we will be recovered and back on track by the financial year end [in March],” it said in a statement.

M&S said profits had been helped by a quick recovery of £100m in cyber insurance but hit by £50m on a new packaging recycling levy and additional insurance costs. It is now looking to make £600m in cost savings this year as it battles to keep annual profits steady – £100m more than previously planned.

Despite the cost-cutting, it opened six stores in the six months to the end of September and plans 12 more by March.

Stuart Machin, the chief executive of M&S, said: “In the second half, we expect profit to be at least in line with last year. This should give us a springboard into the new financial year and set M&S up for further growth.

“The retail sector is facing significant headwinds – in the first half, cost increases from new taxes were over £50m – but there is much within our control and accelerating our cost reduction programme will help to mitigate this.

“Our plan to reshape M&S for long-term sustainable growth is unchanged, our ambitions are undimmed, and our determination to knuckle down and deliver is stronger than ever.”

Last week the rival Next raised hopes that UK consumers were still willing to spend despite pressures on household budgets, as it revealed sales and profit growth “materially above” expectations.

M&S said in May that it expected to take an estimated £300m hit to profits this year from the damaging cyber-attack. However, it said it expected to halve that financial impact of the attack to about £150m through insurance, cost reductions and other actions.

The attack on M&S’s IT systems over the Easter weekend forced the retailer to stop orders via its website, through which it sells fashion, homeware and gifts, for more than six weeks.

Deliveries of food and fashion into stores and some deliveries to its online food partner, Ocado, were also been disrupted.

– Check against delivery –

Ladies and Gentlemen,

Good morning.

For the BMW Group, several key strengths have long formed the
foundation of our strategic course: our global footprint, our
technology-neutral approach, our premium multi-brand strategy and
broad portfolio across all relevant customer segments, and our ability
to identify the potential of new technologies and bring them to road
in each major region. These strengths give us flexibility and make us
resilient, and we are benefiting from them now.

As a global company with global brands, we are used to dealing with
varied conditions and unpredictability on the ground in each market.

We recognize the current dynamics in the automotive industry: major
transitions in innovation, operating with a global supply chain, a
shifting geopolitical framework with trade impacts such as tariffs, as
well as a rapidly evolving market in China – to name but a few.

We remain focused on our long-term trajectory, while using our
flexibility to adapt to the changing dynamics and are tackling them
head on. This is what has always set the BMW Group apart.

Our business remains on track and healthy. As Walter just shared,
this is underscored by our Group EBT result over the first nine months
– demonstrating the performance of the entire business including our
sales development.

Despite the challenging market dynamics in China, our overall global
sales posted year-on-year growth of 8.7% in the third quarter;
excluding China, it was 12.2%. Through September, sales in Europe were
up 8.6% compared to 2024, while sales in the United States grew by
9.5%. These strong results helped compensate for the development in China.

Electrified vehicles and M vehicles both drove global growth. With
our technology-open approach and multiple premium brands, customers
find products that fit their wide range of needs and tastes.

In the coming months, we will take this to the next level with the
introduction of the NEUE KLASSE. Just two months ago at the IAA
Mobility here in Munich, we unveiled the BMW iX3*, the first vehicle
of our NEUE KLASSE. The response was tremendous – from visitors and
fans from across the globe, media, analysts, and political
stakeholders. A few weeks later we celebrated the official opening of
our new plant in Debrecen, where production of the iX3 is underway.

We have started taking customer orders for the car, which have
exceeded our expectations. Just looking at Europe, we see orders
already extend several months into 2026 already. This confirms an
exceptionally positive start for the vehicle.

The NEUE KLASSE is BMW at its best. And starting with the iX3, it
will set new benchmarks: from its performance data and revolutionary
digital interface to its sustainability approach.

The BMW iX3 offers a range of more than 800 kilometers in the WLTP
cycle. Thanks to its ultra-fast charging capability, the peak charging
power is up to 400 kilowatts. That means: in just 10 minutes, the iX3
can charge enough to drive more than 370 kilometers.

The fully immersive digital experience will bring UI / UX to a whole
new level. With the BMW Panoramic iDrive, drivers can intuitively keep
their eyes on the road while all necessary information is perfectly in view.

With the BMW iX3, we will also introduce a new generation of driver
assistance systems. The BMW Group is the first car manufacturer in
Germany to receive approval for assistance systems in accordance with
UN Regulation for Driver Control Assistance Systems (DCAS).

The approval enables the BMW Group to offer the Motorway Assistant
with Level 2 “hands-off” function in numerous other models and
countries in the future. This also covers an extended range of
functions. More innovative assistance functions for urban driving will follow.

In terms of sustainability, the iX3 is explicitly focused on
conserving resources and reducing the model’s environmental footprint
– throughout the supply chain, production, use phase and recycling. In
line with the principles of design for circularity, the iX3 is made up
of one-third secondary raw materials.

Moreover, Plant Debrecen is the first BMW Group car factory that
operates and produces vehicles without using fossil fuels, such as oil
and gas, under normal operating conditions.

Overall, the iX3 is a perfect example of our strategy of reducing CO₂
wherever we have leverage. This will help us reach our near-term
target to reduce our carbon footprint by at least 40 million tonnes
CO₂ by 2030. Since 2020, we have been fully committed to the Paris
Climate Agreement, with a target of achieving net zero by 2050.

The next NEUE KLASSE model, which we teased at the IAA, is preparing
for launch: the new BMW i3. With the eighth generation of the 3
Series, we will bring the NEUE KLASSE and its technology clusters into
the core of the BMW brand. Production of the i3 will get underway at
our main plant in Munich in the second half of next year. Other
locations in our international production network will follow with
production of 3 Series variants.

Throughout 2026, we will show how the NEUE KLASSE technologies will
be integrated into further models, such as the 7 Series and the X5. By
2027, we will put 40 new models and model updates with NEUE KLASSE
technology and design language on the road worldwide.

This all-new BMW generation will provide an enormous boost to our
already broad and popular portfolio – with technology solutions
tailored to customers in their markets.

This applies especially to China. The NEUE KLASSE products we will
launch in China are developed together with our local engineering
teams and Chinese partners – in the market, for the market. Our NEUE
KLASSE architecture allows to integrate local tech stacks from leading
Chinese tech players into our own ecosystem. This gives consumers
access to innovations and features they are used to, including
solutions from Alibaba Banma, DeepSeek, and Momenta.

With the NEUE KLASSE, we are again demonstrating our strength in
mastering system complexity, integration and efficiency. We know what
our customers want and identify trends in individual markets early.
The result are products that perfectly integrate the best technologies
– both in house and with partners – across regions to offer the best
product substance to our customers.

What makes the NEUE KLASSE so unique, is that we are rolling out the
technology clusters across the entire portfolio – regardless of the drivetrain.

Our technology-neutral approach continues to show its success and
allows broad market access as consumer preferences shift. At the same
time, we are making progress in decarbonization in the here and now.
After nine months into 2025, Group sales of all-electric vehicles are
up by 10%, resulting in a BEV share of 18%. PHEVs grew nearly 28%
year-on-year, delivering an overall electrified share through
September of 26.2% globally.

Europe showed particularly strong growth – with BEVs reaching over a
quarter of total sales, while BEV and PHEV sales combined for an
impressive 41% share. Europe will also be the primary driver of our
BMW iX3 sales in 2026.

Thanks to this solid result, we are well on course to reach our CO₂
fleet target for the year, just as we have consistently done for the
past several years. For us, it has long been clear that we would meet
the targets for 2025 – and, importantly, without penalties, pooling,
or averaging.

This success with our technology-neutral strategy also gives our
voice weight in the ongoing discussion regarding the EU’s targets.

We have reached our climate targets by following market demand and
customer needs and by continually optimizing all drivetrain variants.

It remains critical for Europe to revisit the targets for 2030 and 2035.

Setting an end date to a specific, successful technology will lead to
a massive shrinking of the industry as a whole. It will harm European
industry and also create dependencies that are unwise in the current
geopolitical dynamic.

To achieve climate goals and create effective CO₂ regulations, we
must take a comprehensive view – one that accounts for the full carbon
footprint of the vehicle and its value chain, and that also values
climate-neutral fuels such as HVO100. Such a holistic framework would
reflect various market needs and uneven infrastructure development,
while safeguarding Europe’s value chains, jobs, and industrial
strengths. And – above all – it delivers genuine climate protection
and real reductions in CO₂.

Companies should be free to deliver the solutions, taking customer
demands and needs into account, while adequately investing in new
paths and technologies to achieve the EU’s climate goals.

In this context, the BMW Group is very skeptical about the EU’s
planned “Greening the Fleets” regulation, as it does not consider
current market realities. Commercial fleets rely on high vehicle
availability with high mileages. The currently inadequate charging and
hydrogen refueling infrastructure will not be guaranteed in all member
states by 2030 either. Further fleet mandates and additional
regulations that exclude individual technologies are not necessary to
achieve the CO₂ targets. Moreover, they hinder technological
development and introduce harmful market distortions contrary to
customer preferences. Here also, we advocate for a holistic and
technology-neutral approach.

Ladies and Gentlemen,

We are tackling the challenges in global markets head on, leveraging
our strengths and implementing our long-term strategy. We have made
significant investments and have created the right operating framework
to deliver. Our flexible, global network, our tech-open strategy, our
focus on innovation and our ability to master technological complexity
set us apart.

Over the coming months, we will deliver as promised. Starting with
the iX3, we will rapidly deploy our ambitious strategy one vehicle at
a time around the globe. We will continue to lead with product
substance and solutions that meet our customers’ needs.

We therefore remain optimistic as we close out 2025 and move forward
to 2026.

Thank you.