It's in Trump's interest to get a deal with Japan: Analyst
David Boling of Eurasia Group says the Nippon Steel-U.S. Steel 'golden share' concept is a one-off deal. He also discusses the latest on US-Japan trade talks, and the importance of automakers and auto tariffs in the negotiations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
33 minutes ago
- Yahoo
MGM Resorts International (MGM): A Bull Case Theory
We came across a bullish thesis on MGM Resorts International (MGM) on MileHighMonk's Substack. In this article, we will summarize the bulls' thesis on MGM. MGM Resorts International (MGM)'s share was trading at $33.39 as of 10th June. MGM's trailing and forward P/E were 14.5 and 14.88 respectively according to Yahoo Finance. A bright and luxurious casino resort illuminated in the evening skyline. MGM Resorts International presents a diversified investment case rooted in dominant assets, global expansion, and disciplined capital returns. At its core is Las Vegas, where MGM commands a 40% market share with iconic properties like Bellagio and MGM Grand. Over half of Las Vegas' revenue is non-gaming, driven by hospitality, conventions, and entertainment, with partnerships like Marriott fueling room demand. MGM's regional casinos add stability, generating over $1.1 billion in annual EBITDAR with low capital intensity. In Macau, MGM has doubled its market share to 16% since 2018, riding mass-market recovery and expanding premium offerings, supported by a $2 billion loan for growth and refinancing. Japan represents a future growth engine, with MGM's $10 billion Osaka resort projected to generate $3.6 billion in annual revenue. Meanwhile, BetMGM, a 50/50 venture with Entain, has captured a leading position in U.S. iGaming and online sports betting, producing $424 million in 2024 EBITDA. With a potential EBITDA of $500 million and a conservative 10x multiple, MGM's stake could be worth $2.5 billion. Despite these high-quality assets, MGM trades at a discount to peers across both P/E and EV/EBITDA metrics, further distorted by its lease-heavy, asset-light model that inflates leverage optics. Still, net debt excluding leases is only ~$4 billion. The company has repurchased nearly $9 billion of stock since 2021, cutting share count by 45%, and continues aggressively buying back shares under a new $2 billion program. Backed by IAC's 23% stake and long-term conviction, MGM is viewed as a 'forever asset' with near- and long-term catalysts underappreciated by the market. Previously, we covered a bullish thesis on MGM Resorts (MGM) by David on Substack, which emphasized the company's asset-light transformation, iconic Las Vegas assets, and aggressive buybacks driving per-share value. The stock price has appreciated by roughly 27% since the coverage in April 2025. MileHighMonk expands on this view, highlighting MGM's global growth via Macau and Japan, BetMGM's digital upside, and valuation gaps versus peers despite strong capital returns. MGM Resorts International (MGM) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held MGM at the end of the first quarter which was 47 in the previous quarter. While we acknowledge the risk and potential of MGM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
2 hours ago
- Forbes
A Four-Legged Rideable Robot Is A Man-Made Horse Powered By Hydrogen
The Corleo is a futuristic four-legged personal mobility vehicle. It had to happen. One day, humans had to attempt to make their own horse. Or a machine as close as can be to a rideable Rottweiler. Boasting the combined attributes of a horse, a mountain lion and a motorcycle, here it is—the Kawasaki Corleo concept. That's right, it'll be a while before you can actually buy one. Check out the video below. According to the company, one day deep in the R&D department, someone dared to ask, 'What if we put legs on an all-terrain vehicle?' So, working outside of their comfort zone, engineers created the Corleo. The resulting vehicle incorporates the company's vision of mobility in 2050, where instinct, technology and the natural environment move in sync. Or at least, that's what Kawasaki Heavy Industries says. The Corleo is fueled by hydrogen. Corleo is a 4-legged rideable robot targeting a 2050 future Unveiled recently at the Expo 2025 Osaka in Japan, the Corleo is a revolutionary off-road personal mobility vehicle—a rideable robot propelled by four legs and powered by an engine fueled with hydrogen. While Kawasaki did actually unveil this real-life concept, it was the brand's computer-generated video that has generated intense interest online. Making the Corleo look like a hoot to ride, the imagery portrays a rideable four-legged robot that comes across as an advanced version of Boston Dynamics' Spot—the dog-like robot mixed with the fun of Luke Skywalker's Landspeeder cruiser. Having racked up over 1.1 million views so far, the CGI video shows the Corleo galloping through a thick forest, frolicking across a field, leaping across a small gorge and trotting across a snowy outcrop in a landscape mimicking scenes from Lord of the Rings. The Corleo's hydrogen tanks can be seen at the rear end. As far as actual riding goes, Kawasaki says that the Corleo mimics the responsive feel of an ATV or even a motorcycle, but instead of using wheels, it employs independently articulating legs with swing arms that absorb impact and shocks and adapt to uneven terrain. Each leg is fitted with a hoof made from slip-resistant rubber, split left-to-right to adapt to different surfaces like grass, gravel, and rock. This four-legged construction maintains balance and stability as it keeps the rider's body in an upright forward-looking posture, even when climbing steps. Corleo employs some clever design ideas, including independent legs, a hydrogen engine and steering through weight shifts using sensors in the stirrups and handlebars. The rear leg unit can swing up and down independently from the front leg unit, allowing it to absorb shocks during walking and running. A 150cc hydrogen engine produces electricity to propel the leg-mounted drive units, with rear-mounted hydrogen canisters supplying fuel to deliver low emissions and silent operation. An onboard GPS navigation screen guides riders by mapping a path up or down a hill, while also ensuring the rider's center of gravity, and hydrogen fuel levels. "While preserving the joy of riding, the vehicle continually monitors the rider's movements to achieve a reassuring sense of unity between human and machine," Kawasaki said.
Yahoo
2 hours ago
- Yahoo
World Bank and IMF climate snub 'worrying', says COP29 presidency
The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost funding for developing countries' response to global warming. Major development banks have agreed to boost climate spending and are seen as crucial in the effort to dramatically increase finance to help poorer countries build resilience to impacts and invest in renewable energy. But anxiety has grown as the Trump administration has slashed foreign aid and discouraged US-based development lenders such as the World Bank and the International Monetary Fund from focussing on climate finance. Developing nations, excluding China, will need an estimated $1.3 trillion a year by 2035 in financial assistance to transition to renewable energy and climate-proof their economies from increasing weather extremes. Nowhere near this amount has been committed. At last year's UN COP29 summit in Azerbaijan, rich nations agreed to increase climate finance to $300 billion a year by 2035, an amount decried as woefully inadequate. Azerbaijan and Brazil, which is hosting this year's COP30 conference, have launched an initiative to reduce the shortfall, with the expectation of "significant" contributions from international lenders. But so far only two -- the African Development Bank and the Inter-American Development Bank -- have responded to a call to engage the initiative with ideas, said COP29 president Mukhtar Babayev. "We call on their shareholders to urgently help us to address these concerns," he told climate negotiators at a high-level summit in the German city of Bonn this week. "We fear that a complex and volatile global environment is distracting" many of those expected to play a big role in bridging the climate finance gap, he added. - A 'worrisome trend' - His team travelled to Washington in April for the IMF and World Bank's spring meetings hoping to find the same enthusiasm for climate lending they had encountered a year earlier. But instead they found institutions "very much reluctant now to talk about climate at all", said Azerbaijan's top climate negotiator Yalchin Rafiyev. This was a "worrisome trend", he said, given expectations these lenders would extend the finance needed in the absence of other sources. "They're very much needed," he said. The World Bank is directing 45 percent of its total lending to climate, as part of an action plan in place until June 2026, with the public portion of that spilt 50/50 between emissions reductions and building resilience. The United States, the World Bank's biggest shareholder, has pushed in a different direction. On the sidelines of the April spring meetings, US Treasury Secretary Scott Bessent urged the bank to focus on "dependable technologies" rather than "distortionary climate finance targets." This could mean investing in gas and other fossil fuel-based energy production, he said. Under the Paris Agreement, wealthy developed countries -- those most responsible for global warming to date -- are obliged to pay climate finance to poorer nations. Other countries, most notably China, make voluntary contributions. - Money matters - Finance is a source of long-running tensions at UN climate negotiations. Donors have consistently failed to deliver on past finance pledges, and have committed well below what experts agree developing nations need to cope with the climate crisis. The issue flared up again this week in Bonn, with nations at odds over whether to debate financial commitments from rich countries during the formal meetings. European nations have also pared back their foreign aid spending in recent months, raising fears that budgets for climate finance could also face a haircut. At COP29, multilateral development banks (MDBs) led by the World Bank Group estimated they could provide $120 billion annually in climate financing to low and middle income countries, and mobilise another $65 billion from the private sector by 2030. Their estimate for high income countries was $50 billion, with another $65 billion mobilised from the private sector. Rob Moore, of policy think tank E3G, said these lenders are the largest providers of international public finance to developing countries. "Whilst they are facing difficult political headwinds in some quarters, they would be doing both themselves and their clients a disservice by disengaging on climate change," he said. The World Bank in particular has done "a huge amount of work" to align its lending with global climate goals. "If they choose to step back this would be at their own detriment, and other banks like the regionally based MDBs would likely play a bigger role in shaping the economy of the future," he said. The World Bank declined to comment on the record. klm/np/mh/jj
