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By Swissquote Analysts
Morning News

HP Stock Surges as Warren Buffett's Berkshire Hathaway Takes 11% Stake

Shares of HP surged 15%, or $5.15, to $40.06 after Warren Buffett’s Berkshire Hathaway disclosed in a filing Wednesday that it has built a stake of more than 11% in the computer-and-printer maker. The holding was worth more than $4.2 billion, based on HP’s closing price on Wednesday. Berkshire’s Class B shares ticked up 0.5%, or $1.93, to $346.51.

By
Mathieu VILLARD
Morning News

Samsung Forecasts Record First-Quarter Revenues

Samsung Electronics Co. forecast record quarterly revenues and a 50% rise in first-quarter operating profits over the prior year, owing to strength for memory chips and a robust rollout of its latest flagship smartphones. Samsung’s performance speaks to how the prolonged chip shortage continues to boost business for tech suppliers. But sales of the South Korean tech giant’s memory chips and smartphones could face risks of decline in the months ahead as factors including the Russia-Ukraine war and record inflation could dampen consumer sentiment.

By
Mathieu VILLARD
Morning News

Europe to Target Russian Coal in Fresh Round of Sanctions

The European Commission proposed a broad new Russian sanctions package, including a ban on imports of Russian coal, slashing the access of Russian road carriers and ships into the bloc, restricting oligarchs and their families and blocking some high-tech machinery exports. The bloc has also proposed sanctioning two of President Vladimir Putin’s daughters, according to diplomats familiar with the plan, a move that would add the Russian leader’s closest family members to a growing list of individuals sanctioned in an effort to pressure Moscow over its invasion of Ukraine.

By
Nadine PEREIRA
Morning News

Elon Musk Takes Surprise 9% Stake in Twitter, Sending Shares 27% Higher

Elon Musk disclosed a 9% stake in Twitter Inc., turning one of the social-media company’s most famous users into its largest shareholder. Twitter shares led the S&P 500, surging $10.66, or 27%, to $49.97, after Tesla Chief Executive Elon Musk reported that he held a stake of 9.2% in the social-media company as of March 14. Twitter added $8.53 billion in market value, its largest one-day gain on record.

By
Mathieu VILLARD
Morning News

Eurozone Inflation Soars to 7.5%, Raising Pressure on ECB

The eurozone’s inflation rate jumped to another record high in March as Russia’s invasion of Ukraine pushed energy and food prices higher, increasing pressure on the European Central Bank to raise its key interest rate. Russia accounts for around 40% of the European Union’s imports of natural gas, a key source of energy for the bloc. It also supplies around a quarter of the bloc’s oil imports.

By
Mathieu VILLARD
Morning News

H&M Struggles With Russian Closures, Surging Costs and New Covid-19 Disruptions

H&M Hennes & Mauritz AB said store closures in Russia, surging expenses and new Covid-19 disruptions were all hurting its business, posing a challenge to the fashion retailer's expansion plans. The Swedish company on Thursday reported weaker-than-expected first-quarter earnings and warned that sales growth had slowed in recent weeks.

By
Mathieu VILLARD
Morning News

Biden Is Expected to Tap Oil Reserves to Control Rising Gasoline Prices

President Biden is preparing to announce the release of up to 1 million barrels of oil a day from the U.S. Strategic Petroleum Reserve, according to people familiar with the plans. Mr. Biden is expected to deliver remarks on Thursday on the administration’s efforts to curb the rise in energy prices in the aftermath of Russia’s invasion of Ukraine.

By
Mathieu VILLARD
Morning News

UBS to Launch New $6 Bln Share-Buyback Program

UBS AG said Wednesday that it would launch a new share-buyback program of up to $6 billion. The Swiss bank said the repurchase program would start on Thursday and last two years. A previous program launched in February 2021 concluded on Tuesday with a volume of CHF3.81 billion ($4.09 billion), UBS said.

By
Mathieu VILLARD
Morning News

Lawmakers Launch Probe of Credit Suisse Compliance With Russia Sanctions

U.S. lawmakers asked Credit Suisse Group AG to hand over information related to the bank’s compliance with sanctions over Russia’s invasion of Ukraine. They are seeking the information following reports that Credit Suisse instructed investors in a recent debt deal to destroy and erase information related to its dealings with rich clients.

By
Mathieu VILLARD
Morning News

EU Reaches a Deal on Law to Curb Tech Firms' Power

European lawmakers reached agreement on the main points of a new digital-competition law focused on the world's biggest tech companies, setting the stage for one of the most sweeping pieces of technology-regulation legislation to go into effect next year. The new law, known as the Digital Markets Act, is part of the biggest proposed expansion of global-tech regulation in decades.

By
Mathieu VILLARD