• Feb 12, 2025

Spanish travel technology group HBX slumps on market debut

Shares in Spanish travel technology company HBX Group plunged on their market debut on Thursday, erasing 236 million euros of its market value. HBX Group, which owns the Hotelbeds brand, had priced its shares at 11.50 euros earlier in the week for a 2.84 billion euro ($2.96 billion) valuation, in one of the euro zone's first initial public offerings of the year. The Madrid-listed shares, however, were down 8.3% at 10.54 euros by 0920 GMT while the blue-chip IBEX-35 index was unchanged.

  • Feb 12, 2025

Oil Surplus Shrinks Again on Sanctions and Demand, IEA Says

(Bloomberg) -- The International Energy Agency once again slashed expectations for a global oil surplus this year amid stronger demand growth in Asia and sanctions on OPEC+ nations.The agency now sees an overhang of 450,000 barrels a day in 2025, marking a cut of roughly 50% in just two months. It bolstered forecasts for world oil consumption this year by just under 100,000 barrels a day, to 1.1 million per day, and cut projections for output from OPEC+ nations including Russia and Iran as the U

  • Feb 12, 2025

Chinese Tech Stocks Slide as Strong Rally Spurs Profit Taking

(Bloomberg) -- Chinese technology stocks fell as traders took some money off the table following a rally driven by optimism over the country’s artificial intelligence potential.The Hang Seng Tech Index ended Thursday 0.9% lower, reversing an earlier advance that briefly saw the gauge reach a three-year high. The index pushed lower as shares of Alibaba Group Holding Ltd — the latest AI darling — trimmed gains to just 2.6%. Thursday’s setback may do little to dent insatiable demand for the sector,