The new government agreement led by Bart De Wever brings several significant changes for investors—and not all of them pleasant. In this article, we discuss the adjustments that could impact your investment portfolio. We focus on the simplification of the tax on stock exchange transactions (TOB), the annual tax on securities accounts, adjustments for investment companies under ...
De Wever I: A Long-Awaited Government – What It Means for Belgium
After six months of negotiations, Belgium finally has a new federal government. The De Wever I coalition is notably leaner than previous governments, with 15 ministers including the Prime Minister. While this efficiency is welcomed, it also concentrates significant responsibilities on key ministers like Jan Jambon (Finance, Tax, and Pensions) and Frank Vandenbroucke (Social Aff ...
#MacroFriday: Golden Lining to Uncertainty
After a staggering 30% price increase in 2024, gold has continued its upward trajectory, reaching a new record high. On Wednesday, gold hit $2,882 per ounce, driven by escalating fears of a trade war under Trump's presidency. This safe-haven asset has been on a long-term rise, defying historical trends. Typically, rising real interest rates act as a headwind for gold. Howe ...
The Competitiveness Compass: Keeping Europe’s Decarbonisation Plans on Course in a Shifting Global Landscape
The Competitiveness Compass, recently outlined by European Commission President Ursula von der Leyen, sets a strategic direction for Europe’s economy amid increasing global competition[1]. It builds on insights from the Draghi Report and paves the way for the upcoming Clean Industrial Deal. The report emphasizes the link between decarbonization and competitiveness, introducing ...
#MacroFriday: The Great Divergence
‘Es ist die Wirtschaft, Dummkopf!’ Growth Paths Between the European and American Economies Continued to Diverge in 2024 This week’s data releases included the first estimates of Q4 economic growth in the US and the Eurozone. The US economy maintained its solid growth trajectory, expanding by 0.56% in Q4 and 2.8% over the course of 2024. Strong consumer spending was the mai ...
Een Chinese Black Swan? DeepSeek zet techbeleggers op scherp
2025 is nog maar net begonnen, maar maandag leken de markten een Black Swan te beleven. Techgiganten kregen wereldwijd harde klappen na de aankondigingen van het Chinese AI-lab DeepSeek. Het bedrijf claimt betere resultaten met Reasoning Gen-AI te behalen dan de Amerikaanse Mag7, en dat met beperkte middelen en verouderde Nvidia-chips – tegen een fractie van de kosten van Micro ...
The competitiveness of the European chemical industry
The chemical sector is a cornerstone of our European economy. It generates €655 billion in annual turnover and powers other industries, ranging from pharmaceuticals to automotive manufacturing. Despite its foundational role, the chemical industry faces significant challenges that threaten its competitiveness, like many other industries in this green transition. This month, the ...
#MacroFriday: EU Trade in Goods with US
Trump threatens the EU with tarrifs as he eyes the European trade surplus with the US.In December, we discussed how he threatened the US major trading partners without mentioning the EU. This changed on Tuesday. In recent years, the European Union (EU) has experienced a notable increase in its trade surplus with the United States. In 2023, the EU's trade surplus in goods with ...
Fiery Flash: Softbank
De Fiery Flash van deze week is het Japanse SoftBank Group. Dit beursgenoteerde conglomeraat zag de voorbije week een opmerkelijke koersstijging van 16%, waardoor de beurskapitalisatie uitkwam op ongeveer 98 miljard USD. Alvorens we ingaan op de redenen achter deze plotse stijging, eerst wat meer over het bedrijf. SoftBank Group is een in Tokio gevestigde investeringsholding, o ...
#MicroFriday: Markets Price in Another Year of Strong Earnings Growth for S&P 500 Companies in 2025
The second half of January is here, which means that results season is starting. In the last few days, several large American financial institutions have already published their fourth-quarter results, reporting earnings well above consensus expectations. Banks, in particular, saw their profits rise and indicated growing optimism among investors and CEOs since the US elections. ...