Saudi Aramco plans takeover of BP Castrol

Saudi Aramco $2222 has big plans and is currently considering taking over the lubricants business of BP, known as Castrol. According to a report by the news agency Bloomberg, the considerations for a merger with its own lubricant subsidiary Valvoline could still be in the early stages. Aramco is particularly interested in expanding into fast-growing markets such as India, where demand for high-quality lubricants is increasing rapidly. Representatives of both companies are keeping a low profile regarding this speculation and declined to comment. On the London trading floor on Thursday, BP shares were up 0.66 percent at 4.11 pounds, while Aramco shares were down a small 0.98 percent at 101.00 Saudi riyals. The acquisition could represent a strategic expansion for Aramco to further increase its market share in the global lubricants business.

NIO stock shows signs of life in EV market

Over the past few years, NIO shares have $9866 (-6,81%) experienced an exciting rollercoaster ride. While the Chinese electric car manufacturer is showing signs of recovery, it continues to face stiff competition from industry giants such as Tesla and BYD. After a dramatic fall that pushed the share price down from USD 9.07 to USD 3.61, the share price has recently stabilized at around USD 4.35. The current delivery figures for 2024 offer hope: with 221,970 vehicles delivered, the company has recorded an increase of 39% compared to the previous year. Nevertheless, profitability remains a challenge. The loss of CNY 2.50 per share did not meet expectations, dividing analysts into two camps. Out of a total of six ratings, only two recommend a buy, while the average price target is USD 5.25. The coming months could be crucial for NIO to gain a foothold in the competitive electric vehicle market.

Sources:

https://www.finanzen.net/nachricht/aktien/uebernahmeangebot-bp-und-aramco-aktie-saudi-aramco-in-gespraechen-ueber-uebernahme-von-bps-castrol-sparte-14295743

https://www.finanzen.net/nachricht/aktien/schicksalsjahre-nio-aktie-vor-dem-turnaround-kann-nio-mit-konkurrenten-wie-tesla-byd-co-mithalten-14289667

Saudi Aramco plans takeover of BP's Castrol

Saudi Aramco $2222 is in the early stages of planning to make an exciting bid for BP's lubricants division Castrol $BP. (-6,2%) lubricants division. According to a source with insight into the situation, BP is reviewing all options for its Castrol business. This strategic review could potentially lead to a sale. Analyst Ashley Kelty estimates the value of the business at around 6 to 8 billion dollars. This could be a significant development in the oil and energy sector. BP has also set itself ambitious targets, with the company planning to sell $20 billion worth of assets by 2027. This should help to reduce capital expenditure and regain investor confidence. While talks between the two giants are still in their infancy, BP shares rose 1% to 412.15p, highlighting market interest in this potential takeover.

Disney lays off almost 6% of employees

In the USA, the Walt Disney Co. $DIS (-3,24%)plans to lay off around 200 employees, which corresponds to almost 6% of the total workforce of ABC News Group and Disney Entertainment Networks. According to reports in the Wall Street Journal, an official announcement could be made to employees as early as Wednesday. Disney, like many companies in the entertainment sector, is facing a drastic decline in cable network viewership. In addition, the number of subscribers to the Disney+ streaming platform has steadily declined in recent quarters. This has led to Disney's shares falling by 4% over the last 12 months, while Netflix has seen an impressive increase of almost 60%. Despite the challenges, Disney has performed better than expected in recent reporting, even if the decline in Disney+ subscribers cannot be ignored. The developments show how dynamic and challenging the market for entertainment and media has become.

Sources:

https://finance.yahoo.com/news/saudi-aramco-exploring-initial-bid-134415735.html

https://finance.yahoo.com/news/disney-lay-off-nearly-6-133014116.html