News
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United Fire adds Spencer to board
By Ashish TiwariAug 19 - (The Insurer) - United Fire Group (UFG) has appointed Gilda Spencer as an independent class A director, effective August 15, expanding its board to 12 members.In an announcement on Monday, UFG said Spencer will also serve on the insurer’s risk management and compensation and...Reuters
Tue, Aug 19
China's Xpeng expects quarterly revenue to double on strong demand for its EVs
Aug 19 (Reuters) - Chinese electric vehicle maker Xpeng 9868.HK on Tuesday forecast third-quarter revenue would double, betting on surging deliveries of its cars despite challenging economic conditions.Xpeng has been able to drum up demand for its diverse lineup of electric cars, helped by governmen...Reuters
Tue, Aug 19
Axis appoints North America cyber zonal leads
By Ashish TiwariAug 19 - (The Insurer) - Axis Capital has created a new zonal lead structure for its North America cyber business, appointing four executives to strengthen broker engagement and support business development across key markets, the company said on Monday. Nikki Ortega and Paige Jacqmi...Reuters
Tue, Aug 19
Xiaomi's second-quarter revenue up 30.5%, boosted by smartphones
By Che Pan and Brenda Goh BEIJING, Aug 19 (Reuters) - A rise in sales of smartphones, especially in Southeast Asia, helped to boost Xiaomi's 1810.HK second-quarter revenue by 30.5%, the smartphone and EV company said on Tuesday.Revenue for the quarter ended June 30 was 116 billion yuan ($16....Reuters
Tue, Aug 19
Shipping company SFL beats Q2 profit estimates, cuts dividend
OverviewSFL Q2 net income of $1.5 mln beats analyst expectations, per LSEG dataAdjusted EBITDA of $104 mln misses analyst estimates, per LSEG dataCompany says sold older vessels, increasing capital but reducing near-term cash flowSFL lowers dividend to $0.20 per share, from $0.27 per share in Q1, re...Reuters
Tue, Aug 19
Gaza ceasefire proposal agreed by Hamas is "almost identical" to Witkoff's plan, Qatari official says
DOHA, Aug 19 (Reuters) - The latest Gaza ceasefire proposal agreed by Hamas is "almost identical" to an earlier plan put forward by U.S. special envoy Steve Witkoff, Qatar's foreign ministry spokesperson said on Tuesday.Reuters
Tue, Aug 19
Russia says any meeting of leaders on Ukraine must be thoroughly prepared
MOSCOW, Aug 19 (Reuters) - Russian Foreign Minister Sergei Lavrov said on Tuesday that any meeting on Ukraine involving national leaders must be thoroughly prepared. Lavrov's remarks came a day after U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskiy met and expressed hop...Reuters
Tue, Aug 19
Euro zone bonds struggle for direction after Ukraine talks, eyes on Jackson Hole
By Samuel Indyk LONDON, Aug 19 (Reuters) - Euro zone government bonds were in a holding pattern on Tuesday as traders looked ahead to a symposium of global central bankers later in the week, and after talks in Washington on ending Russia's war in Ukraine.NATO Secretary General Mark Rutte told...Reuters
Tue, Aug 19
Swiss knife maker considers production shift to ease U.S. tariffs
BERLIN, Aug 19 (Reuters) - Victorinox, maker of Swiss army knives, is considering moving part of its production to the United States to lessen the impact of import tariffs on its business, the company's CEO told the Wirtschaftswoche business magazine."We are looking into carrying out directl...Reuters
Tue, Aug 19
Amer Sports beats Q2 revenue, adjusted EPS estimates; raises guidance
OverviewAmer Sports Q2 revenue rises 23%, beating analysts' expectations, per LSEG dataAdjusted EPS for Q2 beats estimatesCo raises full-year revenue, margin, and EPS guidanceOutlookAmer Sports raises full-year revenue growth guidance to 20-21%Company expects full-year gross margin of approximat...Reuters
Tue, Aug 19
China's iQiyi taps banks for up to $300 million Hong Kong second listing, sources say
HONG KONG, Aug 19 (Reuters) - Chinese video streaming platform iQIYI IQ.O has tapped Bank of America, CICC and JPMorgan to work on its Hong Kong second listing that could raise between $200 million and $300 million, said two people with knowledge of the matter.iQIYI, China's answer to Netflix, p...Reuters
Tue, Aug 19
Home Depot misses quarterly sales estimates
Aug 19 (Reuters) - Home Depot HD.N missed analysts' estimates for second-quarter sales on Tuesday, hurt by reduced spending on large-scale home renovations and do-it-yourself projects from price-conscious homeowners. The company posted net sales of $45.28 billion for the quarter ended August 3...Reuters
Tue, Aug 19
Americans fear AI permanently displacing workers, Reuters/Ipsos poll finds
Seventy-one percent fear AI causing permanent job loss, Reuters/Ipsos poll showsSeventy-seven percent worry AI could be used by rivals to incite political chaos, poll indicatesForty-eight percent oppose AI in military targeting, 24% support itBy Jason Lange and Alexandra Alper WASHINGTON, Aug 19 ...Reuters
Tue, Aug 19
Medtronic to add directors, form committees after Elliott takes large stake, WSJ reports
Aug 19 (Reuters) - Medtronic MDT.N will add two new directors and form new committees, after Elliott Investment Management became one of its largest shareholders, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.Reuters
Tue, Aug 19
Air Canada Says Company Will Gradually Resume Service On Tuesday After Reaching A Mediated Settlement With Flight Attendant Union
Aug 19 (Reuters) - Air Canada AC.TO:AIR CANADA TO GRADUALLY RESUME SERVICE TODAY AFTER REACHING A MEDIATED SETTLEMENT WITH ITS FLIGHT ATTENDANT UNIONAIR CANADA: RESUME OPERATIONS OF AIR CANADA AND AIR CANADA ROUGE, WHICH HAVE BEEN GROUNDED SINCE AUGUST 16AIR CANADA: FIRST FLIGHTS ARE SCHEDULED FOR E...Reuters
Tue, Aug 19
Deals of the day-Mergers and acquisitions
August 19 (Reuters) - The following bids, mergers, acquisitions, and disposals were reported by 0930 GMT on Tuesday: ** Japanese investment firm SoftBank Group has held talks with Intel on buying the American semiconductor firm's struggling contract chipmaking b...Reuters
Tue, Aug 19
