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House Judiciary Committee opens investigation into South Korean regulators

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House Judiciary Committee opens investigation into South Korean regulators

FIRST ON FOX: The House Judiciary Committee has opened a formal investigation into actions by South Korean regulators that lawmakers say may discriminate against American technology companies. In an attempt to learn more about the abuses against American companies, it has issued a subpoena to U.S. e-commerce giant Coupang for documents and testimony on its experiences.

The e-commerce company listed on the New York Stock Exchange, has emerged as one of the most visible examples cited by U.S. officials, lawmakers and investors of the abuse of U.S. companies by Seoul to better enable scrutiny of South Korea’s regulatory environment has intensified.

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US-SOUTH KOREA TRADE TENSIONS FLARE OVER TREATMENT OF AMERICAN TECH FIRMS INCLUDING COUPANG

Committee Chairman Jim Jordan and Subcommittee Chairman Scott Fitzgerald said the probe will examine whether foreign laws and enforcement actions are being used to target U.S. firms and undermine their ability to compete globally, according to a Feb. 5 letter sent to Coupang leadership.

Congress Capitol Dome

A U.S. flag flies in front of the U.S. Capitol dome on Dec. 16, 2019 in Washington, DC. (Photo by Samuel Corum/Getty Images / Getty Images)

Lawmakers wrote that the committee is conducting oversight into “how and to what extent foreign laws, regulations, and judicial orders are being used to discriminate against innovative American companies and infringe on the rights of U.S. citizens.”

The subpoena requests communications between Coupang and South Korean authorities, as well as testimony from company representatives, as Congress seeks to determine the scope of what it views as potentially unfair enforcement practices.

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Coupang office in California

Logos on facade at the shared headquarters of Internet company Coupang and security company SentinelOne in the Silicon Valley town of Mountain View, California, October 28, 2018.  (Smith Collection/Gado/Getty Images / Getty Images)

The committee cited concerns about the Korea Fair Trade Commission and other agencies, arguing they have subjected U.S. firms to “punitive obligations, excessive fines, and discriminatory enforcement practices” in ways that could benefit domestic competitors.

Lawmakers also pointed to recent regulatory actions involving Coupang, including scrutiny and potential penalties following a data-related incident, which they said illustrate broader concerns about how American-owned companies are treated under South Korean enforcement.

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American and South Korean flags

South Korea says that the U.S. will review its subsidies to EV owners after South Korea brought up concerns on how the law would negativley impact Korean car manufacturers. Pictured: an American and South Korean flag hang together at Yongin, South Ko (Ken Scar/U.S. Army/Handout via Reuters / Reuters Photos)

According to the letter, the investigation is intended to inform potential legislation aimed at protecting U.S. companies and citizens from what Congress describes as discriminatory foreign regulations and enforcement decisions.

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The committee said obtaining records from Coupang will help lawmakers assess how foreign policies and enforcement practices may affect Americans’ due process rights and U.S. companies’ ability to compete in global markets, as part of its oversight responsibilities.

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ArcelorMittal S.A. (MT) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Q4: 2026-02-05 Earnings Summary

EPS of $0.86 beats by $0.31

 | Revenue of $14.97B (1.75% Y/Y) misses by $628.98M

ArcelorMittal S.A. (MT) Q4 2025 Earnings Call February 5, 2026 9:30 AM EST

Company Participants

Daniel Fairclough – Head of Investor Relations & VP of Corporate Finance
Aditya Mittal – CEO & Director
Genuino Christino – Executive VP & CFO

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Conference Call Participants

Alain Gabriel – Morgan Stanley, Research Division
Tristan Gresser – BNP Paribas, Research Division
Ephrem Ravi – Citigroup Inc., Research Division
Cole Hathorn – Jefferies LLC, Research Division
Reinhardt van der Walt – BofA Securities, Research Division
Bastian Synagowitz – Deutsche Bank AG, Research Division
Matthew Greene – Goldman Sachs Group, Inc., Research Division
Timna Tanners – Wells Fargo Securities, LLC, Research Division
Philip Gibbs – KeyBanc Capital Markets Inc., Research Division
Maxime Kogge – ODDO BHF Corporate & Markets, Research Division

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Presentation

Daniel Fairclough
Head of Investor Relations & VP of Corporate Finance

Good afternoon, everyone. This is Daniel Fairclough from the ArcelorMittal Investor Relations team. Thank you for joining this call to discuss ArcelorMittal’s performance and progress in 2025. Present on today’s call, we have our CEO, Aditya Mittal; and our CFO, Genuino Christino.

Before we begin, I’d like to mention a few housekeeping items. As usual, we will not be going through the results presentation that we published this morning on our website However, I do want to draw your attention to the disclaimers on Slide 26 of that presentation. Following opening remarks from Aditya and Genuino, we will move directly to the Q&A session. [Operator Instructions]

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And with that, I will hand over the call to Aditya.

Aditya Mittal
CEO & Director

Thanks, Daniel. Welcome, everyone, and thank you for joining today’s call. Before I ask Genuino to walk through our financial performance, I want to start by reflecting on the progress we have made against our 2025 priorities.

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When I look back at the year, the achievements are clear and everyone at ArcelorMittal

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New procurement VP named at Flowers

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New procurement VP named at Flowers

Bret Hathaway to succeed retiring Miles Dennis.

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Perth CBD terror act declared

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Perth CBD terror act declared

An alleged attempt to detonate a homemade explosive device at a protest on Australia Day has been declared an act of terror, nine days after the incident took place.

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Jobs set to be cut at Wedgwood

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Jobs set to be cut at Wedgwood

Seventy workers at the Staffordshire site were put on temporary leave last year due to slow demand.

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Packaging producers respond to state packaging sustainability mandates

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Packaging producers respond to state packaging sustainability mandates

Food producers are hesitant to jump in on EPR rules as they are concerned that they could change.

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Turning Complex Ideas Into Lasting Impact

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Turning Complex Ideas Into Lasting Impact

Jason Goldberg Winnipeg has built a career around clarity. In a field known for complexity, he has focused on making big ideas work in the real world. Not with noise or headlines, but with structure, discipline, and long-term thinking.

Based in Winnipeg, Jason is a partner at MLT Aikins, the largest law firm in Manitoba and Western Canada. His work sits at the intersection of tax law, business strategy, and transition planning. Over time, he has helped shape transactions and structures that allow businesses and families to move forward with confidence.

“I’ve always believed that good ideas only matter if they can be implemented,” Jason says. “Execution is where value is created.”

Early Influences and a Winnipeg Foundation

Jason Goldberg Winnipeg

grew up in Winnipeg, a city that values loyalty and community. Sports and culture were a constant presence. From the historic Winnipeg Arena to today’s Canada Life Centre, he learned early that showing up matters.

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“Winnipeg teaches you to stay committed,” he says. “You don’t chase trends. You build something solid.”

That mindset shaped his early ambitions. In 1989, Jason received a YTV Achievement Award for Entrepreneurship. It was an early signal of his interest in how ideas become sustainable ventures.

He went on to earn a BA from the University of Manitoba in 1993, followed by a law degree from the University of Western Ontario in 1997. He was called to the Manitoba Bar in 1998.

Finding His Path in Tax and Business Law

Early in his legal career, Jason gravitated toward tax law. It was not about numbers alone. It was about how decisions ripple across time.

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“Tax law forces you to think ahead,” he says. “You can’t just look at today. You have to understand what happens five or ten years down the road.”

To deepen his expertise, Jason completed the CICA In-Depth Tax Course in 2006, along with advanced training in corporate reorganisations and tax law. These programmes are known for their rigour and practical focus.

“You learn very quickly that precision matters,” he says. “Small details can shape very large outcomes.”

Bringing Big Ideas to Life in Practice

Jason’s work focuses on corporate tax planning, acquisitions and divestitures, reorganisations, and estate and succession planning. Much of it involves closely held and family-owned businesses facing moments of change.

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These moments often come with pressure. Emotions run high. Timelines are tight.

“My role is to bring creativity and stamina to a complex problem,” Jason explains. “A concept needs space to be tested before they are put into motion.”

He is known for helping clients translate complex strategies into workable steps. Not by oversimplifying, but by asking the right questions early.

“Good planning is about alignment,” he says. “When structure and intent match, things tend to hold.”

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Leadership Through Clarity and Collaboration

As a partner at MLT Aikins, Jason works closely with lawyers, accountants, and advisors across disciplines. Transactions rarely succeed in isolation.

“Everyone brings a piece of the puzzle,” he says. “Leadership is making sure those pieces fit together.”

Jason is also active in professional education. He has written papers for Continuing Legal Education and the Canadian Tax Foundation and presented for organisations such as the Business Development Bank of Canada.

Teaching, he believes, keeps his thinking sharp.

“If you can explain a complex idea in plain language, you can understand it,” he says.

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Life Beyond the Office

Outside of work, Jason remains deeply connected to sports and the arts as a supporter. He is a lifelong fan of the NHL and NBA. At home, he supports the Winnipeg Jets. From afar, he follows the New York Rangers. The Phoenix Suns and Vancouver Canucks are also favourites.

“Sports are a shared experience,” he says. “They bring people together in a way few things can.”

That same belief draws him to the arts. Jason regularly attends the Vancouver International Film Festival and the Toronto International Film Festival. He enjoys discovering new voices and perspectives.

He also supports institutions such as the Vancouver Symphony Orchestra, Phoenix Symphony Orchestra, Vancouver Art Gallery, Phoenix Art Museum, the Scottsdale Museum of Contemporary Art and the Agassiz Chamber Music Festival.

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“Art challenges how you see the world,” he says. “That’s valuable in any profession.”

Investing in Education and the Future

Jason is an advocate for education and youth development. He actively supports Balmoral Hall School and programmes that encourage leadership, curiosity, and character.

“Education is one of the few investments that always pays forward,” he says.

That belief mirrors his professional philosophy. Focus on fundamentals. Build with care. Let results compound over time.

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A Career Defined by Thoughtful Execution

Jason Goldberg’s career is not defined by bold claims. It is defined by follow-through and working the details. By taking complex ideas and turning them into structures that last.

“Success is usually quiet,” he says. “If things are working, you’re probably doing something right.”

From his roots in Winnipeg to his leadership role today, Jason continues to show that innovative concepts and implementation adds value for clients.

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‘Milestone’ deal as Palatine-backed waste manager Papilo buys Midlands group

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Expanded group will focus on companies with zero-waste strategies

Papilo has acquired Allwood Recycling Solutions

Allwood Recycling Solutions is based in Warwick(Image: Allwood Recycling Solutions)

A waste management firm backed by investment group Palatine has acquired a Midlands firm in a “milestone” deal that will create a £60m revenue business with more than 200 employees. Swinton’s Papilo has taken over Warwick-based Allwood Recycling Solutions in its second acquisition since it secured the backing of Palatine’s Impact Fund.

Allwood was founded in 2010 by Darren Wheeler and has been led since 2025 by Gavin Ebery. Both will continue with the Papilo group with the rest of the Allwood team.

The Midlands business focuses on the distribution and logistics sector and manages more than 150,000 tonnes of material each year.

READ MORE: Palatine invests in tech logistics firm fulfilmentcrowd and its global expansion plansREAD MORE: Palatine backs AI and data consultancy Atombit as it makes three acquisitions

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Paul Hodgkiss, CEO of Papilo said: “The Allwood team are hugely well-regarded in the industry and I am delighted to welcome Gavin, Darren and the wider Allwood team to Papilo. They bring outstanding experience, technical knowledge and from the outset, it was clear that we share a common purpose where sustainability, and the circular economy, sit at the centre of every service.

“This is a milestone acquisition for the group and will be a major platform for growth.”

Gavin Ebery, managing director of Allwood Recycling Solutions said: “This deal brings together two purpose-driven, like-minded businesses and I’m very excited about the opportunities it will bring to our customers and our people.

“We look forward to a new phase of growth as part of Papilo in a market where increasing numbers of blue-chip companies are rolling out zero waste strategies.”

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Greg Holmes, senior investment director at Palatine Impact Fund, said: “This is an important strategic acquisition for Papilo, broadening our service capabilities and brings new experience and technical knowledge into the business.

“We are delighted to have supported on Papilo’s second acquisition in the last eight months and look forward to identifying other suitable targets that will further enhance Papilo’s growth.”

The deal, the value of which was not disclosed, was funded by Palatine Impact II, Kartesia and Virgin Money. Papilo was advised by Gateley Plc (legal), Fellwood Advisory (debt advisory), Forvis Mazars (financial and tax due diligence) and Luminii Consulting (commercial due diligence). Advisors to Allwood included HNH Advisors (corporate finance) and Burges Salmon (legal).

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Nasdaq Extends Decline; AMD Sinks After Earnings

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Nasdaq Extends Decline; AMD Sinks After Earnings

The Nasdaq composite fell Wednesday as chip stocks came under fresh selling pressure and concerns lingered about potential AI disruption to software companies.

The tech-heavy index pared some losses in afternoon trading, but still finished 1.5% lower, its fourth down session in five trading days. Disappointing results from chip maker AMD sent its stock down 17%, its biggest pullback since 2017. Palantir, Micron and AppLovin all fell 9% or more.

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Oddity Tech stock hits 52-week low at $28.78

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Oddity Tech stock hits 52-week low at $28.78

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BNP Paribas SA (BNP:CA) Q4 2025 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

BNP Paribas SA (BNP:CA) Q4 2025 Earnings Call February 5, 2026 8:00 AM EST

Company Participants

Jean-Laurent Bonnafe – MD, CEO & Director
Lars Machenil – Group Chief Financial Officer

Conference Call Participants

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Tarik El Mejjad – BofA Securities, Research Division
Delphine Lee – JPMorgan Chase & Co, Research Division
Giulia Miotto – Morgan Stanley, Research Division
Chris Hallam – Goldman Sachs Group, Inc., Research Division
Jacques-Henri Gaulard – Kepler Cheuvreux, Research Division
Andrew Coombs – Citigroup Inc., Research Division
Flora Benhakoun Bocahut – Barclays Bank PLC, Research Division
Sharath Ramanathan – Deutsche Bank AG, Research Division
Pierre Chedeville – CIC Market Solutions, Research Division
Anke Reingen – RBC Capital Markets, Research Division
Jonathan Matthew Clark – Mediobanca – Banca di credito finanziario S.p.A., Research Division

Presentation

Operator

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Good afternoon, ladies and gentlemen, and welcome to the presentation of the BNP Paribas Fourth Quarter and Full Year 2025 results with Jean-Laurent Bonnafe, Group Chief Executive Officer; and Lars Machenil, Group Chief Financial Officer. For your information, this conference call is being recorded. Supporting slides are available on BNP Paribas IR website, invest.bnpparibas.com.

[Operator Instructions] I would like now to hand the call over to Jean-Laurent Bonnafe, Group Chief Executive Officer. Please go ahead, sir.

Jean-Laurent Bonnafe
MD, CEO & Director

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Good afternoon, ladies and gentlemen. We are pleased to present today our strong fourth quarter results, and we’ll provide some elements on our ’28 trajectory, which we are revising upwards given the strong revenue momentum at the launch of a transformation plan of our support functions.

I will start with our results on Slide 4. So our fourth quarter results confirmed the sharp acceleration we had expected. Revenues posted a strong 8% growth. Jaws effect was higher at 2.9 points and even reached 3.9 points when excluding AXA IM. Cost of fees stayed low at 34 bps well within our trajectory of below 40

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