Profit Falls on Restructuring, Catastrophes
Insurance Group AG said second-quarter profit fell 12 percent on higher restructuring
charges and claims from natural catastrophes as Chief Executive Officer Mario
Greco overhauls the company’s biggest unit.
Net income declined to $739 million from $840 million a
year earlier, Zurich said in a statement on Thursday. More...
Optimist Calls for Pound to Climb Back Toward $1.50
By Chiara Albanese
pound trading at $1.50 may seem like a distant memory, yet a few voices see it
fully recovering from the Brexit sell-off.
A weaker pound will support growth and restore balance in
the U.K. economy, while the country will be able to strike a deal in exit talks
with the European Union that maintains its competitiveness, said Stephen
Jen, chief executive of investment company Eurizon SLJ Capital Ltd. More...
Looking Up for China’s Manufacturers
By Bloomberg news
deflation eased for the seventh straight month, signaling improving conditions
for the nation’s manufacturers and adding to evidence the world’s second
largest economy is stabilizing. More...
Output Rises as Factories Shrug Off Brexit Woes
By Julia Hirsch
industrial production increased in June, signaling that Europe’s largest
economy gained momentum ahead of the U.K.’s Brexit vote.
adjusted for seasonal swings, rose 0.8 percent from the previous month, when it
dropped a revised 0.9 percent, data from the Economy Ministry in Berlin showed
on Monday. The reading, which is typically volatile, compared with a median
estimate for a 0.7 percent gain in a Bloomberg survey. More...
How Low Can the
Bank of England Go?
By Emma Charlton
The central bank on Thursday endorsed a path
that sees the benchmark fall to 0.1 percent
Carney has once again made it clear he's not a fan of negative rates, though
he's left investors guessing on what exactly the Bank of England's lower bound
governor and the Monetary Policy Committee remained coy on Thursday about
exactly how close to zero they’d go, even as they signaled a willingness
to take rates below the current record-low 0.25 percent. More...
Shakes Off Doldrums to End Week at Record on Jobs Report
By Bailey Lipschultz
the U.S. economy is churning out jobs salvaged the week for equities, sending
the Nasdaq Composite Index to its first record close in a year and handing the
S&P 500 Index its fifth weekly advance in six since the start of July. More...
Quarterly Loss on $1.7 Billion Litigation Expense
By Richard Partington
Royal Bank of Scotland Group Plc, Britain’s largest taxpayer-owned lender,
posted a larger loss than estimated in the second quarter as it set aside more
money to cover a lawsuit over its 2008 share sale. More...
Aluminum Is a Poor Man’s Steel When It Comes to