Allianz Profits Jump, Helped by U.S. Growth
Allianz posted a 24% rise in first-quarter operating profit, driven by growth in its U.S. life-health business and a stronger result in its property-casualty segment, but profits for the asset-management division-which houses Pimco-fell 13%.
Richemont Confident on Outlook as China Reopens
Richemont said it expected further strong demand ahead, particularly in China, after it booked an above-forecast operating profit for fiscal 2023 on a 14% rise in sales.
SMIC’s Profit Falls on Lower Wafer Shipments
Semiconductor Manufacturing International Corp. said its first-quarter net profit fell 48% due to lower wafer shipments and higher expenses.
News Corp Revenue Slips Amid Challenging Ad Market
The Wall Street Journal gained 132,000 digital subscriptions in latest quarter.
NBCUniversal’s Linda Yaccarino Is in Talks to Become Twitter CEO
Yaccarino is chairman of global advertising and partnerships at NBCU. Twitter owner Elon Musk said earlier he had picked a new chief executive without naming the person.
Disney Stock Tumbles as Streaming Losses Spook Investors
The share slump weighs on the S&P 500 and Dow Jones Industrial Average.
Southwest Pilots Vote to Authorize a Strike
The move comes as United and American negotiate new contracts with their own pilots.
PacWest Stock Sinks 23% After Disclosing Fresh Outflow
The bank said in a securities filing that it lost 9.5% of its total deposits last week.
Peloton Recalls 2.2 Million Bikes Due to Seat Defect
The Consumer Product Safety Commission said people should immediately stop using the bikes.
CNN’s Kaitlan Collins Ascends, as Network Takes Heat for Trump Town Hall
Ms. Collins, a rising star at the network who moderated the town hall, is a key figure in CEO Chris Licht’s plans.
Source: Dow Jones Newswires