Spain Opposes Rutte's Plan to Raise NATO Spending Target to 5%

Spain will oppose NATO plans to raise the target for members' defense spending to 5%, according to a government official.
The Spanish government is preparing its formal response to NATO Secretary General Mark Rutte's proposal and sees no reason to increase the target beyond the current 2% of GDP, the official said.

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Value stocks in aerospace… yes, please!

Melrose Industries (LSE:MRO) and Airbus are both major players in the aerospace sector, albeit the former being much smaller than the latter. However, I also believe they're both rather exciting value stocks, providing exposure to a fast-growing sector with secular trends contributing to strong expected earnings growth. And by secular trends, I'm referring to rising global air traffic, a growing middle class, and surging demand for more efficient, sustainable aircraft. Advancements in digital technologies, artificial intelligence (AI) and automation are transforming manufacturing and maintenance, while defence spending and aftermarket services provide resilient long-term growth opportunities for the sector. What's more, both companies are executing ambitious growth strategies and, crucially, their forward-looking financial metrics suggest the market may be underestimating their long-term potential. Starting with Melrose, the company's transformation into a pureplay aerospace specialist is already showing results. In 2024, adjusted diluted earnings per share (EPS) surged 45% to 26.4p, with operating profit up 38% and margins expanding. Management has set a bold, but achievable, target of more than 20% annual EPS growth through to 2029. Noting the starting point, this could lead us to adjusted EPS between 65.7p and 80.6p by then, depending on the growth scenario. Even using 2023 as the starting point, EPS could reach 55.8p to 71.3p. With shares trading at 475p, this implies a forward 2029 price-to-earnings (P/E) ratio between just 5.9 times and 8.5 times. I'd suggest that's remarkably low for a business with a strong economic moat and one with claims 70% of its revenue comes from products where it's the sole producer. Moreover, the forward price-to-earnings-to-growth (PEG) ratio also points to severe undervaluation. Using the forward P/E ratio of 13.7 times for 2025, and a 20% earnings growth rate, the PEG ratio comes in a 0.69. Yes, the company's carrying a significant amount of debt. — £1.3bn. And if things don't go to plan, that's a bit of a concern. However, even factoring in the debt, the PEG ratio's significantly under one, and far below the global industrials sector average of around 1.8. The stock might not grow 1,000% like Rolls-Royce has from its nadir, but it absolutely could surge. I think we just need to see some solid earnings beats (beating expectations) in order to gain the market's attention. As for Airbus, which is listed in Europe, the financial story is one of steady improvement and growing shareholder returns. The stock currently trades at 24.6 times forward earnings for 2025. This falls to 20.2 in 2026, and just 17.6 by 2027 as earnings accelerate. Taking the forward P/E for 2025 and dividing it by earnings growth of 16%, we get a PEG ratio of 1.54. I don't think that's problematic considering its duopoly in aircraft manufacturing. I'm sure investors will be keen to point out concerns relating to tariffs and even quality assurance. However for me, it remains a quality company with a strong net cash position — €11.8bn. I believe both these stocks should be carefully considered by investors. I'm not the only bull either. Analysts currently see Airbus as undervalued by 13% and Melrose by 33%, suggesting meaningful appreciation in the near term. The post Value stocks in aerospace… yes, please! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has positions in Melrose Industries Plc and Rolls-Royce Plc. The Motley Fool UK has recommended Melrose Industries Plc and Rolls-Royce Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio

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Samaranch Senior -- controversial diplomat who saved the Olympics

Incoming and outgoing International Olympic Committee presidents Kirsty Coventry and Thomas Bach will salute each other in the handover ceremony on Monday but the person they will thank for the movement's continued existence is Juan Antonio Samaranch Senior. Samaranch Senior -- whose son of the same name finished runner-up to Coventry in the IOC presidential election in March -- did, like Coventry, serve in a controversial regime prior to being elected in 1980. Advertisement While Coventry has been sports and arts minister in a Zimbabwean government whose election in 2023 was declared unfair and undemocratic by international observers, Samaranch served at a high level in the fascist Spanish regime of General Francisco Franco. His IOC presidency, which ran from 1980-2001, will for some be forever overshadowed by the 'votes for favours' scandal surrounding the 2002 Salt Lake City Winter Olympics. However, to other more measured voices he is the saviour of the Games who transformed it from a movement at risk of extinction into a vibrant and financially healthy behemoth. "His legacy is that we have an Olympic Games to talk about," former IOC marketing executive Terrence Burns told AFP. Advertisement "He saved it from financial and political ruin." Samaranch Senior's earlier career exercised many people when he was IOC chief. After Franco's death and the restoration of the monarchy, Samaranch Senior went on to be ambassador to the Soviet Union. "I recognised that my political career in Spain was over," said Samaranch Senior, who always insisted he was not a fascist. It was in Moscow at the 1980 Games, overshadowed by a boycott because of the Soviet invasion of Afghanistan, that he was elected president of the IOC. The IOC members' faith in him was more than repaid. Advertisement "Within the IOC I think the Samaranch legacy is fully understood: that he saved the Olympic Movement," former IOC marketing chief Michael Payne told AFP. His success was developing "the business model", which included a TV strategy and "the creation of the TOP programme, the most successful (sports) marketing programme ever," he added. Payne worked closely with him and said he was a different personality to his son in that he was "more a listener" than Samaranch Junior, who is a "great communicator." "He was very introverted, a great listener, didn't do a lot of talking, and a great strategic thinker," said Payne. Advertisement "But because he wasn't at the forefront, communicating and explaining, he was often misunderstood. "He only learned English as his third or fourth language when he was 60." - 'I cannot regret' - Payne said Samaranch's leadership shone through during the Salt Lake City scandal. Six members were to be expelled and Samaranch also oversaw a series of reforms to prevent a repeat of the situation. "He was calm under unbelievable pressure and stress," said the 66-year-old Irishman. "Honestly, you went to the office every day and you didn't know if the organisation would survive... And that was for three months. Advertisement "It was brutal. And yet, Samaranch Senior displayed absolute calm, focus." Nevertheless Samaranch, in a rare moment of letting the mask slip, revealed the effect of what Payne described as "personal attacks". "Retiring myself after the Barcelona Games (in 1992), I could have been a hero, no?" he told the Los Angeles Times in 2000. "I cannot regret. I have to write my history again." Payne said despite his diplomatic background Samaranch could play hardball. One incident occurred when Greece refused to allow the Olympic torch to be lit ahead of the 1984 Games in Los Angeles, as they objected to the commercialisation of the event. Advertisement "Samaranch sent one of his relatives to Olympia to privately film the lighting of the flame, put it in a miner's lamp, and brought it back to Lausanne," said Payne. "Then Samaranch called the Greeks and said, 'just for you to understand, I now have the Olympic flame on my desk. "'Either you will agree to let the Americans come and properly light it or there will never be another torch lighting in Olympia. Because it will be lit at the Olympic Museum in Lausanne.' "So he wasn't shy of being very tough." pi/gj

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Liverpool 'drops' $80M Darwin Nunez asking price as Napoli wants transfer

Liverpool has reportedly dropped its asking price for Darwin Nunez, and would accept a fee of around €50 million ($58 million) plus add-ons for the Uruguayan striker. Nunez is widely expected to leave Liverpool this summer, three years on from a big-money transfer from Benfica. Liverpool knocked back approaches for Nunez from clubs in Saudi Arabia during the January transfer window, but there remains a strong market for the Reds' No. 9 during the ongoing summer window. Advertisement The interest from Saudi Arabia remains, while Atletico Madrid, Napoli and AC Milan are also being linked with the 25-year-old. It's claimed that Napoli has made a verbal offer of around €43 million ($50 million) for Nunez, with Napoli said to be keen to provide support to Romelu Lukaku in its front line. READ MORE: Milos Kerkez can give Arne Slot what wanted as Liverpool transfers prove Virgil van Dijk right READ MORE: Liverpool transfer news LIVE: Florian Wirtz medical, Alexander Isak deal, Marc Guehi interest Foot Italia reports that Nunez has no intention of moving to Saudi Arabia, as he wants to remain playing at a high level in Europe. Advertisement Napoli boss Antonio Conte is said to be a fan of Nunez and believes he has a higher chance of realizing his potential away from the Premier League. Transfer guru Fabrizio Romano gave an update on Napoli's interest in Nunez earlier this week, saying that concrete talks have been taking place ahead of a possible move. "We are keeping the names that have been mentioned in recent days regarding Napoli's attack," Romano said, as quoted by Tutto Napoli. "I told you about Darwin Nunez, who has moved from phone calls to serious, direct and concrete contacts. "Napoli is working on the Darwin Nunez operation, but it is not an easy operation. There is competition from other clubs, including some from Saudi Arabia. We will understand more in the next few days, but it is a move that the Azzurri certainly want to try to make. Advertisement "There have also been calls from AC Milan to be informed about the situation, but the Italian club that is working hard on the Uruguayan striker - also with the player's agents - is Napoli. "Now we will have to understand if it will be feasible from an economic and competition point of view, but the certainty is that Darwin Nunez will leave Liverpool." Nunez is leaving Liverpool -Credit:Getty Images Meanwhile, former Liverpool midfielder Dietmar Hamann wants to see Liverpool chance its arm with an audacious swap offer involving Nunez and Atletico Madrid striker Julian Alvarez. "I'd love to see Julian Alvarez at Liverpool and I think Darwin Nunez being part of the deal would make a lot of sense," Hamann told "I think Nunez is tailor-made for Atletico Madrid as a physical centre forward, someone who will work so hard, which is what Diego Simeone wants. Advertisement "Alvarez would also be a fantastic addition at Liverpool. He played in the shadow of Erling Haaland at Manchester City, but really added to his reputation in Madrid. "He led the line, scored goals, and made life a nuisance for the back lines he played against. I think he would be a brilliant signing. "There are rumors about other forwards, but Alvarez would be a great addition to Liverpool, and Nunez might just be an even better signing for Atletico."