Latest news for TUI (OTC:TUIFF) Stock

TUI AG is a leisure and tourism company that operates airlines, cruises, tours, hotels, and resorts globally. The company organizes itself into six segments: Northern region, Central region, Western region, hotels and resorts, TUI Musement and cruises. Northern region principally comprises TUI's tour operators, airlines, and cruise business in the U.K., Ireland, and the Nordics. Central region includes the company's tour operators in Germany, Australia, Switzerland, and Poland, and the TUI fly airline. Western region includes TUI tour operators and airlines in Belgium and the Netherlands, and tour operators in France. The Northern, Central, and Western regions are the segments by revenue, in that order, and collectively constitute the vast majority of revenue.

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China policymakers may issue at least 1 trillion yuan ($137 billion) in additional sovereign debt to fund infrastructure investments.

China Contemplates Stimulus As Property Giant Country Garden Teeters On Brink Of Default

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AI For Travel: TUI Pilots ChatGPT On UK Holidaymakers

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TUI Expects Strong Summer Bookings On Increased Travel Momentum

TUI AG

TUI: Up 50% Since Lows In November

Notable earnings before Tuesday's open

TUI AG 2024 Q1 - Results - Earnings Call Presentation

TUI AG GAAP EPS of -EUR 0.24, revenue of EUR 4.3B

Artisan Global Equity Fund Q1 2024 Commentary

Notable earnings before Wednesday's open

TUI AG GAAP EPS of -€0.58, revenue of €3.6B

TUI AG (TUIFF) Q2 2024 Earnings Call Transcript

TUI AG 2024 Q2 - Results - Earnings Call Presentation

TUI: The Company Stability Is Increasing And Improving

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XXII

The Chinese government is contemplating an increase in fiscal stimulus, reflecting a desire to recover a portion of the economic growth that has been lost over recent quarters to achieve the <a href="https://www.benzinga.com/topic/chinese-stocks">annual growth target of 5%.</a>



That&#8217;s according to <a href="https://www.bloomberg.com/news/articles/2023-10-10/china-weighs-new-stimulus-higher-deficit-to-meet-growth-target?sref=TBDibEcD">Bloomberg</a>, citing sources familiar with the situation. Government policymakers are currently weighing the possibility of issuing at least 1 trillion yuan ($137 billion) in additional sovereign debt to fund infrastructure investments, including projects related to water conservation. 



No official announcement has been made yet.



These developments have led to a surge in global equity indices. In Hong Kong, shares, as tracked by the Hang Seng Index, saw an increase of 0.8%, and a similar performance was observed by the S&amp;P/ASX 200 in Australia.



Within the Asian region, the Japanese Nikkei Index showed the strongest performance, with gains of up to 1.8%. 



Some notable stock gainers in the Asian market included companies like Kawasaki Kisen Kaisha Ltd. (OTCPK: KAIKY) and Miniso Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>), both experiencing a 6% increase.



In Europe, stocks also displayed positive momentum, with Italy&#8217;s FTSE Mib 30 and Spain&#8217;s IBEX 35 indices standing out, both registering a 1.7% increase.



In the European market, Just Eat Takeaway.com NV (OTCPK: JTKWY) rose by 6%, alongside Alstom (OTCPK: ALSMY), which also saw a 6% increase, and TUI AG (OTCPK: TUIFF) with a 5.7% increase.



Read Also: <a href="https://www.benzinga.com/markets/equities/23/10/35158917/stocks-futures-signal-cautious-optimism-amid-hopes-of-fed-pause-pepsicos-solid-q3-focus-shifts-t">Stocks Futures Signal Cautious Optimism Amid Hopes Of Fed Pause, PepsiCo&#8217;s Solid Q3; Focus Shifts To Week&#8217;s Inflation Data</a>



<h2 class="wp-block-heading">Country Garden Issues Default Warning</h2>



At the same time, concerns persist regarding issues in the property sector, particularly regarding Country Garden Holdings, which is currently facing the risk of default. The former leading construction company in China issued a warning via a stock exchange filing on Tuesday, indicating its inability to meet future offshore payment obligations, including those related to dollar-denominated bonds.



Ting Meng, a senior credit strategist at Australia and New Zealand Banking Group, told Bloomberg that Country Garden&#8217;s recent statement may force offshore bondholders to push forward a restructuring proposal.



The company announced on Tuesday a significant drop of 81% in contracted sales for September compared to the previous year, primarily due to the persistently weak demand from homebuyers in China. This decline caused Country Garden&#8217;s shares to fall by 11% in Hong Kong on Tuesday, following a 6.7% drop in the previous session.



Notably, Country Garden&#8217;s dollar bond maturing in January 2024 is currently trading at 6 cents on the dollar, while the bond due in 2031 is trading at less than 5 cents on the dollar.



Domestic stocks in China underperformed global equities on Tuesday. The Shanghai Composite index declined by 0.7%, and the Shenzhen Component saw a loss of 0.6%. These losses extended from the previous session.



Chart: Country Garden&#8217;s Dollar-Denominated Bonds Tumble 



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="730" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-1024x730.png" alt="" class="wp-image-121268" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-1024x730.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-300x214.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76-768x547.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/10/10083012/XS188044271_2023-10-10_13-29-59_02f76.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



Now Read: <a href="https://www.benzinga.com/markets/asia/23/10/35156875/asia-mixed-eurozone-in-green-crude-retreats-after-mondays-surge-global-markets-today-while-us-was-sl">Asia Mixed, Eurozone In Green, Crude Retreats After Monday&#8217;s Surge &#8211; Global Markets Today While US Was Sleeping</a>

TUI AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TUIFF#OTC">TUIFF</a>) is<a class="editor-rtfLink" href="https://www.tuigroup.com/en-en/media/press-releases/2023/2023-08-17-tui-brings-chatgpt-to-its-mobile-app-in-uk" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">&nbsp;bringing ChatGPT to its mobile app&nbsp;</a>to test the potential of generative Artificial Intelligence (AI).&nbsp;

The initiative will be piloted on mobile app for U.K. customers.

The new feature provides customers with informative responses about holiday destinations and personalized recommendations for excursions, activities, and attraction tickets.

Depending on the level of detail the customer provides, the app will provide a more refined and relevant shortlist of descriptions, images and links for suggested experiences.

&quot;Technologies such as generative Artificial Intelligence are influencing our lives and TUI is embracing the opportunities this provides,&quot; said CEO Sebastian Ebel.

An internal TUI AI Lab has been established to drive the initiative, acting as an open platform to provide guidance, support and training.

<ul>
	<li>Tour operator&nbsp;TUI AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/TUIFF#OTC">TUIFF</a>) reported a 58% year-on-year increase in Q1&nbsp;<a class="editor-rtfLink" href="https://www.tuigroup.com/en-en/media/press-releases/2023/2023-02-14-tui-group-q1" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">revenue&nbsp;</a>to &euro;3.8 billion.</li>
	<li>The company had 3.3 million guests travelling with it in Q1, a 43.5% jump from last year.</li>
	<li>TUI&#39;s underlying EBIT loss nearly halved to &euro;(153) million from a loss of &euro;(274) million last year.</li>
	<li>&quot;Our strategy is clear: quality, cost discipline and market share. New products, additional customers, and as a result, more market share and above-average growth are the basis for future increases in revenue and earnings,&quot; said CEO Sebastian Ebel.</li>
	<li>&quot;Swift implementation of the strategy is having an effect, booking dynamics for Summer 2023 are encouraging. Both strengthen our expectations: underlying earnings to increase significantly in full year 2023.&quot;</li>
	<li>The company said it had 8.7 million bookings for current Winter and Summer 2023, with the latest booking figures for the last four weeks above pre-crisis levels with higher average prices.</li>
	<li>In the previous financial year, the TUI Group began repaying the first financial aid granted by the state during the pandemic.</li>
	<li>TUI reached an agreement with the Economic Stabilization Fund (WSF) in December on the conditions for a full repayment of the remaining WSF aid.&nbsp;</li>
	<li>Photo Via Company</li>
</ul>

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