ASML Holding NV said Wednesday that it can reach annual revenue of between 24 billion euro and 30 billion euro ($28.04 billion-$35.05 billion) with a gross margin of between 54% and 56% in 2025.
The Dutch maker of semiconductor equipment said that global trends in the electronics industry are expected to continue to fuel growth across the semiconductor market, which drives demand for its products and services. In 2020, it had revenue of EUR13.98 billion, with a gross margin of 48.6%.
Santander to Return $2 Bln to Shareholders With Dividend, Buyback
Banco Santander SA said Tuesday that it will return some 1.7 billion euros ($1.99 billion) to shareholders from earnings this year, through dividend payments and a share buyback, in light of the lifting of European Union recommendations on limits to shareholder remuneration.
The Spanish bank will pay a dividend of 4.85 European cents a share, and will also buy back shares amounting to EUR841 million. The total figure of around EUR1.7 billion amounts to 40% of underlying profit for the first half of the year, the bank said, adding that a further and final remuneration from 2021 earnings will be set out in the first quarter next year.
Thoma Bravo Sells a Minority Stake in Command Alkon to HeidelbergCement
Software-focused private-equity firm Thoma Bravo is selling a 45% stake in Command Alkon Inc., a provider of supply-chain-management software for the heavy construction industry, to HeidelbergCement AG in a deal that values the company at about $1.7 billion, according to people familiar with the matter.
Thoma Bravo will keep a majority stake in the Birmingham, Ala.-based company, which it acquired last year.
U.K. Retail Price Deflation Slows in September
U.K. retail prices fell on year in September though the decline is slowing as cost pressures begin to filter through into prices, according to the latest report by Nielsen IQ and the British Retail Consortium.
Prices at U.K. stores dropped 0.5% on year for Sept. 1 to Sept. 7, the report found. The rate of deflation on a yearly basis has slowed somewhat when compared with August, when prices declined 0.8% on year.
U.S. Deports High-Profile Hacker to Russia Before End of Prison Sentence
WASHINGTON-The U.S. released a high-profile Russian cybercriminal from its custody this week, at least a year before his prison sentence was expected to finish, handing him over to Russian authorities despite long resisting Moscow's efforts to retrieve him.
Alexei Burkov, 31, was placed on a commercial airline flight on Monday after being released from federal prison last month, officials said. He was detained by Russian authorities at a Moscow airport Tuesday, according to Russian state media.
GLOBAL NEWS
U.S. Economy Set to Pick Up Speed After Delta-Driven Downturn
The Delta variant of Covid-19 appeared to temper economic growth this summer, but economists expect the recovery from the pandemic to reaccelerate as the virus's toll eases.
In recent weeks, many economists lowered their forecasts for third-quarter economic growth in large part because consumers slowed spending on meals out, hotels and airline tickets amid the spread of the highly contagious Delta variant. The Covid-19 surge also complicated office and school reopenings, turning what had been expected to be a September boom into a downturn.
Bond-Yield Surge Challenges Investor Confidence in Big Tech Companies
A swift rise in government-bond yields is hitting shares of technology stalwarts that have powered major indexes higher for years, testing investors' faith in some of the stock market's most popular trades.
Shares of software giant Microsoft Corp., Google parent Alphabet Inc. and chip maker Nvidia Corp. have fallen about 4.5% or more so far this week, dragging down major indexes and equity funds that give companies with large market values greater influence. Together with Apple Inc., Amazon.com Inc., Facebook Inc. and Netflix Inc., the seven companies lost about $315 billion in market value Tuesday, the largest slide since last October, according to Dow Jones Market Data. The S&P 500 is now down 3.8% in September and on track for its largest monthly decline in a year.
Bank of Thailand Keeps Rate Unchanged at Record Low
Thailand's central bank maintained its benchmark interest rate at a record low, as the Covid-19 pandemic showed some signs of easing.
The Bank of Thailand said Wednesday that its policy committee voted unanimously to hold its one-day repurchase rate unchanged at 0.50%.
Republicans Block Latest Effort by Democrats to Advance Debt-Ceiling Bill
WASHINGTON-Republicans blocked Democrats' latest effort to raise the debt limit, intensifying a high-stakes showdown in the Senate hours after Treasury Secretary Janet Yellen told lawmakers the government would be unable to pay all of its bills on time starting Oct. 18 unless Congress acts.
With Senate Republicans having lined up against the debt-limit increase, the developments raise pressure on Democratic leaders to find a backup plan to avoid a default on U.S. obligations. That could include adding a debt-ceiling measure to an already complicated package to bypass a GOP filibuster in the Senate, or exploring other, unprecedented approaches to keep the federal government liquid.
Progressives Split on Backing Thursday's House Infrastructure Vote
WASHINGTON-The House Democrats' powerful progressive bloc split Tuesday over whether lawmakers should vote for a roughly $1 trillion bipartisan infrastructure package this week even if a larger education, healthcare and climate package remains in flux.
In a sign of a growing conflict with House Democratic leaders, some liberals reiterated their determination not to vote for the infrastructure bill until the $3.5 trillion package has passed the Senate, while others signaled they could be reassured by firm signs of progress in reaching an agreement on the package.
Citadel Securities Faces New Pressure Over GameStop Frenzy
Billionaire Ken Griffin's electronic trading firm, Citadel Securities, is under fire again over its role in the January trading frenzy in shares of GameStop Corp. after new information surfaced in a lawsuit.
Citadel Securities in a statement Tuesday rejected "Internet conspiracies and Twitter mobs" that have again accused the firm of pushing Robinhood Markets Inc. and other brokerages to limit trading in GameStop and other meme stocks on Jan. 28, a move that resulted in losses for many small investors.
Hidden Debt Plagues China's Belt and Road Infrastructure Plan, Studies Find
Hidden debt and problematic projects are emerging as features of China's Belt and Road Initiative, with several research reports pointing to headwinds facing President Xi Jinping's international infrastructure-development program.
Trillions of dollars in investment are needed around the world for infrastructure, which can mean anything from bridges to healthcare. China's program represents an enormous injection of funds for some of the most needy nations, but it has stirred global debate about the way China finances and manages its projects.
India Aims to Produce mRNA Covid-19 Vaccine This Year
NEW DELHI-India is preparing to produce its own mRNA-based Covid-19 vaccine by the end of the year, in what would be a scientific breakthrough for the country's growing pharmaceutical industry and help expand the range of global production hubs for the shots.
A host of companies across the world are pushing to bring their own vaccines using the mRNA technology to market following the success of the Pfizer Inc. and Moderna Inc. shots. Indian firms, urged on in part by Prime Minister Narendra Modi, aim to be significant players in the new sector, with Gennova Pharmaceuticals Ltd. hoping to be the first.
Industry Lobbyists Aim to Pick Apart Democrats' $3.5 Trillion Spending Bill
WASHINGTON-Industry lobbyists are working to undermine key elements of the Democrats' $3.5 trillion spending bill, adding another complication to efforts by President Biden and Democratic leaders to move their domestic agenda through Congress this fall.
The attacks are coming on multiple fronts, and are focused on persuading key Democratic lawmakers to win changes in the bill, given that Republicans are already opposed to it.
Fumio Kishida to Become Japan's Next Prime Minister
TOKYO-Fumio Kishida, a former foreign minister who has called for Japan's missile defenses to be beefed up, was elected ruling party leader on Wednesday, assuring him of becoming the nation's next prime minister.
Mr. Kishida, 64 years old, is an establishment choice who, like his predecessors, supports a strong U.S.-Japan alliance and is concerned about China's military expansion. He also favors aggressive government spending worth hundreds of billions of dollars to lift Japan's economy out of the doldrums caused by measures to limit the spread of Covid-19.
Japanese Prosecutors Seek Two Years in Prison for Former Ghosn Aide Greg Kelly
TOKYO-Former Nissan Motor Co. executive Greg Kelly should spend two years in prison for his alleged role in helping hide former Nissan chief Carlos Ghosn's pay from the public, Japanese prosecutors told a Tokyo court on Wednesday.
The sentencing request came during prosecutors' closing arguments in the case at Tokyo District Court. Mr. Kelly says he is innocent, and the court's three-judge panel is expected to issue a verdict next year. If he is found guilty, the court would also decide his sentence.
U.S. Deports High-Profile Hacker to Russia Before End of Prison Sentence
WASHINGTON-The U.S. released a high-profile Russian cybercriminal from its custody this week, at least a year before his prison sentence was expected to finish, handing him over to Russian authorities despite long resisting Moscow's efforts to retrieve him.
(MORE TO FOLLOW) Dow Jones Newswires
09-29-21 0638ET
