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3) China's Surplus Soars —

China's trade surplus hits a stunning CNY 890.87 billion, as Jan-Feb exports rise 7.1% YoY. #TradeSurplus
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2) Meta Axes Jobs in Efficiency Drive —

Meta targets efficiency, cuts jobs at Facebook Messenger amid tech industry's growing layoffs trend. #TechLayoffs
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📰 BizToc.com Hourly News Flash

1) Nigeria's Power Sector Gets a Jolt —

Nigeria's richest advocate for a power sector overhaul suggesting it's key to economic revival. #EnergyReform
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👉🏻 For more, visit biztoc.com and never miss a beat in the world of business news.
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4) Cerus Corp Warns Shareholders —

Cerus Corporation faces a volatile share price and potential risks to shareholder rights amidst an uncertain market. #CerusRisks
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3) TikTok's Ownership Dilemma —

US lawmakers press ByteDance for TikTok divestiture or face a ban, sparking debates on cybersecurity and business operations. #TikTokDivestiture
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2) China's Meat Imports Triple in Early 2024 —

China reports a three-fold increase in meat imports in Jan-Feb, signaling a significant shift in consumer demand patterns. #ChinaMeatImports
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📰 BizToc.com Hourly News Flash

1) WuXi AppTec Stock Dips on U.S. Sanction Fears —

Shares in WuXi companies plunge due to renewed concerns over potential U.S. sanctions, impacting investor sentiment. #WuXiSanctions
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👉🏻 For more, visit biztoc.com and never miss a beat in the world of business news.
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4) Australia's Gender-Linked Contracts —

Australia implements a pioneering policy to link company gender targets with lucrative government contracts, pushing diversity agendas. #GenderDiversity
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BizToc
3) Merck's Modest Milestone —

Merck KGaA projects modest growth for the year, focusing on steady progress amid market uncertainties. #MerckGrowth
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BizToc
2) TikTok's US Dilemma —

US government ultimatum pressures TikTok for a ByteDance divorce to avert potential nationwide ban over security concerns. #TikTokBan
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📰 BizToc.com Hourly News Flash

1) Nationwide's Multi-Billion Virgin Leap —

Nationwide Building Society acquires Virgin Money for £2.9 billion, signaling major consolidation in UK banking. #BankingMerger
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Hidden Value Gems
$ADM.L FY23 results:

✅Group turnover +31%; EPS +17% (c. 5% below consensus)

✅Loss ratio down to 63.9% (from 70.6%)

✅Combined ratio at 88.7% (96.8% in 2022)

✅UK motor premiums grew above market, customers started to grow in H2 '23

✅The company continues to over-provision with actual loss in UK Motor lower (see chart)

✅Full-year dividend 103p (-8% down YoY) due to higher reported PBT in 2022 under an old IFRS 4 standard

I am long, I think it is a great business with lower insurance risk (due to reinsurance agreement with Munich Re), strong growth and high returns on capital.

The 30-year chart speaks volumes (EPS CAGR +20%, 53% avg ROE).
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Ben's Bites
Inflection AI has marked its attendance in the “GPT-4 class” of models

Their new model, Inflection-2.5, goes toe-to-toe with giants like GPT-4, all while saving a ton on training costs

6M people are using its free chatbot, Pi, every month for hours

Full story: bensbites.beehiiv.com/p/pers…
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