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GE Aerospace CEO sees supply chain improvements, despite tariff hit
May 28 (Reuters) - GE Aerospace’s CEO said on Wednesday he is seeing supply chain improvements that will support a 15% to 20% increase in deliveries this year of jet engines used on popular narrowbody aircraft, after snags challenged deliveries in 2024.CEO Larry Culp also told the Bernstein Strategi...Reuters
Wed, May 28
Instacart appoints insider Chris Rogers as CEO
May 28 (Reuters) - Delivery platform Instacart CART.O on Wednesday said it has appointed company insider Chris Rogers as chief executive officer, effective August 15, as the current head Fidji Simo is set to exit to join OpenAI.The new CEO appointment follows Simo's surprise appointment as OpenA...Reuters
Wed, May 28
Databricks competitor Chalk raises $50 million series A
By Anna Tong SAN FRANCISCO, May 28 (Reuters) - Artificial intelligence infrastructure startup Chalk said Wednesday it had raised a $50 million Series A funding round, valuing the company at $500 million. Felicis led the round.San Francisco-based Chalk helps enterprises get their proprietary data ...Reuters
Wed, May 28
AM Best revises MS Reinsurance’s credit rating outlook to positive
May 28 - (The Insurer) AM Best has revised the outlook it holds for MS Amlin AG’s long-term issuer credit rating (ICR) to positive from stable, the rating agency said on Wednesday. AM Best has also affirmed the A-plus financial strength rating and aa- long-term ICR it holds for the entity, which is ...Reuters
Wed, May 28
Jeep-maker Stellantis names insider to lead revival
Filosa previously led Jeep brand, South America regionWill need to revive business, manage EV transitionSome investors says outsider was neededStellantis share performance worst among European carmakersBy Giulio Piovaccari MILAN, May 28 (Reuters) - Stellantis STLAM.MI named its North American chi...Reuters
Wed, May 28
China tells Morgan Stanley it welcomes more US financial institutions, Xinhua reports
BEIJING, May 28 (Reuters) - China's Vice Premier He Lifeng told Morgan Stanley MS.N Co-President Daniel Simkowitz that Beijing welcomes more U.S. financial institutions and long-term capital to deepen cooperation, the official Xinhua news agency reported.He said at a meeting in Beijing that U.S....Reuters
Wed, May 28
iTeos plans to shut down operations after cancer therapy setback
May 28 (Reuters) - Drug developer iTeos Therapeutics ITOS.O said on Wednesday it plans to wind down its operations and explore selling its assets, including experimental cancer treatments and an obesity program.Earlier this month, Britain's GSK GSK.L and iTeos Therapeutics said they have stopped...Reuters
Wed, May 28
Canopy Growth Corp expected to post a loss of 52 cents a share - Earnings Preview
Canopy Growth Corp WEED.TO is expected to show a fall in quarterly revenue when it reports results on May 30 for the period ending March 31 2025The Smiths Falls Ontario-based company is expected to report a 15.7% decrease in revenue to C$70.133 million from C$83.15 million a year ago, according t...Reuters
Wed, May 28
Laurentian Bank of Canada expected to post earnings of 71 cents a share - Earnings Preview
Laurentian Bank of Canada LB.TO is expected to show a fall in quarterly revenue when it reports results on May 30 for the period ending April 30 2025The Montreal Quebec-based company is expected to report a 3.1% decrease in revenue to C$244.65 million from C$252.6 million a year ago, according to...Reuters
Wed, May 28
Darag signs LPT and PTA with European carrier
By Navneeta NandanMay 28 - Legacy specialist Darag Group announced on Wednesday that its German counterpart, Darag Deutschland AG, has completed a loss portfolio transfer (LPT) with a European carrier.The LPT will be followed by a portfolio transfer (PTA), said Darag, which did not disclose the name...Reuters
Wed, May 28
Shoe Carnival Inc expected to post earnings of 30 cents a share - Earnings Preview
Shoe Carnival Inc SCVL.OQ SCVL.O is expected to show a fall in quarterly revenue when it reports results on May 30 for the period ending April 30 2025The Fort Mill South Carolina-based company is expected to report a 6.1% decrease in revenue to $281.933 million from $300.37 million a year ago, acc...Reuters
Wed, May 28
Immunovant Inc expected to post a loss of 72 cents a share - Earnings Preview
Immunovant Inc IMVT.OQ IMVT.O is expected to show no change in quarterly revenue when it reports results on May 30 (estimated) for the period ending March 31 2025LSEG's mean analyst estimate for Immunovant Inc is for a loss of 72 cents per share. The current average analyst rating on the share...Reuters
Wed, May 28
National Bank Of Canada Q2 Adj Provisions For Credit Losses C$315 Million
May 28 (Reuters) - National Bank of Canada NA.TO:NATIONAL BANK OF CANADA Q2 ADJUSTED PROVISIONS FOR CREDIT LOSSES C$315 MILLIONNATIONAL BANK OF CANADA Q2 NET INCOME CAD 896 MILLIONNATIONAL BANK OF CANADA Q2 ADJUSTED REVENUE CAD 3,650 MILLION VERSUS. IBES ESTIMATE CAD 3,284 MILLIONNATIONAL BANK OF CA...Reuters
Wed, May 28
Zurich North America adds Aon’s Andrejko as head of construction professional liability
By Michael LoneyMay 28 - (The Insurer) - Marty Andrejko has returned to Zurich North America as head of construction professional liability, after most recently serving as managing director for the same line at Aon since late 2023.Philadelphia-based Andrejko will report to head of construction Toby ...Reuters
Wed, May 28
Telegram, Musk's xAI partner to distribute Grok to messaging app's users
May 28 (Reuters) - Telegram CEO Pavel Durov said on Wednesday its messaging app and Elon Musk's artificial intelligence company xAI have agreed to a partnership to distribute Grok to its more than billion users.Telegram will receive $300 million in cash and equity from xAI and 50% of revenue fro...Reuters
Wed, May 28
Samsung India executives seek to quash $81 million penalty over tax evasion
Samsung faces big tax challenge in key Indian marketSeven execs challenge penalty in case, source, document showExecutives argue India rushed to deliver order, source saysBy Arpan Chaturvedi NEW DELHI, May 28 (Reuters) - Seven Samsung India executives have asked a court to revoke penalties of $8...Reuters
Wed, May 28
Zelenskiy says Ukraine not being invited to NATO summit would be a victory for Putin
KYIV, May 28 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Wednesday that Ukraine not being invited to the upcoming NATO summit would mean a victory for Russian President Vladimir Putin over the alliance.Zelenskiy had said on Tuesday that NATO chief Mark Rutte wanted Ukraine to attend ...Reuters
Wed, May 28
Telegram CEO Durov Says Telegram & xAI Have Agreed To A 1-Year Partnership To Distribute Grok To Telegram's Users And Integrate It Into Its Apps
May 28 (Reuters) - TELEGRAM CEO DUROV: TELEGRAM AND XAI HAVE AGREED TO A 1-YEAR PARTNERSHIP TO DISTRIBUTE GROK TO TELEGRAM’S USERS AND INTEGRATE IT INTO ITS APPSTELEGRAM WILL RECEIVE $300M IN CASH, EQUITY FROM XAI, PLUS 50% OF REVENUE FROM XAI SUBSCRIPTIONS SOLD VIA TELEGRAM- TELEGRAM CEO PAVEL DURO...Reuters
Wed, May 28
