Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Well, let's check in on some of the stocks on
Speaker 3: the move today in Europe. I'm Stephen Carroll and I'm
Speaker 3: joined by Bloomberg's Breaking News editor Louise Moon. Louise, good morning.
Speaker 3: Let's start with Rio, tinto some movement on their share
Speaker 3: prices today. What's going on.
Speaker 1: Their new CEO is essentially implementing a huge strategy overhaul.
Speaker 1: So this was announced early this morning. So Simon Trott,
Speaker 1: he joined in August as the CEO. He's announced his plans. Yeah,
Speaker 1: a total overhaul and a kind of a restructuring of
Speaker 1: Rio to boost it. So they're planning to raise up
Speaker 1: to ten billion dollars and they're going to reinvest that
Speaker 1: into the business. They're going to raise that money by
Speaker 1: divesting some stakes, selling minority stakes, and a whole host
Speaker 1: of other measures, so a lot of cost saving measures
Speaker 1: to raise that money, reinvest that into the business, and
Speaker 1: then at the same time kind of pullback from non
Speaker 1: core ambitions, so things like lithium, So for example, they've
Speaker 1: only sad they're going to commit more capital to lithium
Speaker 1: when support when they say it's supported by markets and returns.
Speaker 1: So essentially, this is a plan to slim down the business,
Speaker 1: make it more simple, and refocus on their core so
Speaker 1: copper and iron ore in particular. It adds to changes
Speaker 1: that the Trot's already done. So he's already implemented a
Speaker 1: few measures, so he's cut back on some stuff already
Speaker 1: since he's been there, and a few kind of non
Speaker 1: core units. But this is kind of his big entire
Speaker 1: plan that he's laid out now. If you just taking
Speaker 1: a step back in terms of kind of the context
Speaker 1: of it, it comes as you know, Rio's face quite
Speaker 1: a lot of criticism over the last few year about
Speaker 1: becoming far too bloated and focusing on a host of
Speaker 1: different things rather than its original core. And it also
Speaker 1: kind of echoes changes made by miners across the industry,
Speaker 1: So you know, there's a lot of attention now turning
Speaker 1: back to profitable assets copper in particular, and a lot
Speaker 1: of consolidation in the industry as it you know, struggles.
Speaker 3: With new norms.
Speaker 1: So yeah, so this is Trot's his news strategy that
Speaker 1: he's implemented, and I just want to end on a
Speaker 1: quote with him that I quite liked. He said, it's
Speaker 1: about focusing on what for us is the greatest opportunities
Speaker 1: if you try to have think and you get nothing done,
Speaker 1: which I thought was quite a good life lesson.
Speaker 3: For everyone, a bit of philosophy. Along with the market
Speaker 3: share is down slightly this morning in trading and London
Speaker 3: at the moment, let's go to Phillips next, Louise. Their
Speaker 3: show is actually down significantly, down over seven percent.
Speaker 2: Indeed.
Speaker 1: Yeah, so this is the Amsterdam listed health tech company,
Speaker 1: so shares down this morning. They were the worst performer
Speaker 1: in the healthcare index of the stock six hundred. This
Speaker 1: is after a note by City Analysts. They're saying that
Speaker 1: both tariffs and China challenges or they're noting tariff and
Speaker 1: China challenges for twenty twenty six for the company. And
Speaker 1: this is their takeaways from City's own conference that has
Speaker 1: been happening. So the analyss has said that Phillips itself
Speaker 1: cautioned that headwinds from taris next year will almost double.
Speaker 1: They're expecting the environment in China also to remain pretty
Speaker 1: muted next year. So as a result of that, the
Speaker 1: City Analysts is saying that they think that sales growth
Speaker 1: expectations for next year are probably too high, particularly given
Speaker 1: the company stress, you know, that they can't double their
Speaker 1: growth rate again as they have done next year. So
Speaker 1: shares reacting, as you say, on the back of that,
Speaker 1: So falling into the red this morning.
Speaker 3: Okay, So that's the news on Phillips. And finally, trust
Speaker 3: Pilot has gotten a badge review.
Speaker 1: It has from a short seller, so short seller Grizzly Research.
Speaker 1: They've published a report this morning and essentially saying that
Speaker 1: they're short Trust Pilot. It's quite a damning report if
Speaker 1: you read through it. I won't go into kind of
Speaker 1: all the details, but you know, includes claims from them
Speaker 1: about things like fake reviews. I should say Bloomberg has
Speaker 1: gone to trust Pilot for four some comment on that.
Speaker 1: So they've published that Trust Polot. It's hitting their shows.
Speaker 1: They were down almost nine percent this morning on the
Speaker 1: back of that short set of report.
Speaker 2: The stock Moover's report from Bloomberg Radio. Check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street and for the latest market
Speaker 2: moving headlines, Listen to Bloomberg Radio Live. Catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.