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Lotte Chemical Shares Hit Four-Year Low as Losses Mount Amid Bleak Outlook

Lotte Chemical Titan Holding Bhd shares fell to their lowest level since April 2020 on Thursday, with investors reacting to widening quarterly losses and an uncertain future. The company’s stock dropped by as much as 4.5 sen, or nearly 5%, to 91.5 sen , giving it a market capitalisation of RM2.13 billion . The petrochemical company faces challenges as product spreads remain under pressure due to a global supply glut , primarily from new capacity expansions in China . Analysts at TA Securities noted that Lotte Chemical is likely to stay in the red “over the next few quarters” and maintained a 'sell' rating on the stock. The company has reported quarterly losses since 2QFY2022 and is expected to continue to report losses through this year. Analysts estimate that Lotte Chemical may not return to profitability for another two years , according to Bloomberg consensus data. A significant challenge for Lotte Chemical is the squeeze in spreads between naphtha costs and polymer sel
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Trump Would Keep US in NATO, but Calls for Germany to Step Up Defense Spending



Republican vice-presidential candidate JD Vance stated that Donald Trump would keep the US in NATO if reelected, but emphasized that the alliance must not become “just a welfare client.”

In an interview on NBC's Meet the Press, Vance affirmed that Trump supports a strong NATO, but believes that European allies need to contribute more to the defense burden. "Donald Trump wants NATO to be strong. He wants us to remain in NATO,” Vance said, adding that the expectation is for NATO countries to carry their fair share.

During his presidency, Trump consistently pressed European NATO members, particularly Germany, to increase their defense spending. Vance reiterated that Germany, as Europe's largest economy, needs to contribute more to security and defense within the alliance. He singled out the UK and a few other nations as the primary contributors alongside the US, underscoring the need for Germany to do more.

When asked about Russian President Vladimir Putin, Vance stopped short of calling him an enemy, instead labeling him an adversary and a competitor, noting that Putin’s cooperation may be necessary to eventually resolve the war in Ukraine. Vance also identified China as the biggest threat to the US.

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