“Renewed security challenges in a fragmented world indicate that Europe must strengthen its strategic autonomy. NATO’s latest declaration to raise defence spending may present such an opportunity for the region.”
Over the weekend, the United States launched airstrikes on three key Iranian nuclear sites, Iran responded on Monday by launching missiles at the US’s Al Udeid Air Base in Qatar. The missiles were shot down and resulted in no casualties – Trump thanked Iran ‘for giving us early notice’. Following these developments, on Monday, a ceasefire between Israel and Iran was announced, but as of now, it remains unclear if it will hold. The weakened Iranian regime faces growing pressure.
Share buybacks have become a standard corporate tool in achieving capital efficiency. In a share buyback, a company buys its own shares from existing shareholders, and thereby distributing capital to them in an alternative way to dividends. The practice was banned in the US until the early 1980’s when SEC formally set out the regulation, and eventually it spread globally. This growth has taken place despite some concerns that share buybacks were being used for management’s personal gain at the expense of long-term growth. Critics have also suggested that they have dampened innovation and encouraged excessive leverage levels.