8-14
Nubank posts $1.06 billion quarterly net profit for first time, beating estimates
Brazilian digital lender Nubank reported second-quarter net profit of $1.06 billion, marking its first quarter above $1 billion and beating expectations. The result was up 49% year on year on a foreign-exchange-neutral basis, while early delinquency rates edged down from the prior quarter to 4.8%. The bank said it serves nearly 139 million clients, and its shares rose about 9% in extended trading after the release.
8-14
8-13
Asian shares climb after July U.S. CPI at 0.1% cuts September Fed hike odds to 34%
U.S. consumer prices rose 0.1% in July, matching expectations and cooling bets on a Federal Reserve rate increase in September. Money markets now price a 34% chance of a hike, down from 55% a week earlier. Asia-Pacific equities rose broadly, with MSCI’s Asia-Pacific index up 1.08% and South Korea’s Kospi surging 3.78%. U.S. and European equity index futures edged higher, while Brent slipped 0.2% and the U.S. 10-year yield fell to 4.678%.
8-13
8-4
Samsung retail investor group ACT pushes for extraordinary meeting on $31.79 billion buyback and bonus caps
South Korean retail shareholder platform ACT is seeking to convene an extraordinary shareholders’ meeting at Samsung Electronics to back a 45.5 trillion won ($31.79 billion) share buyback programme and set a cap on executive performance bonuses. To trigger the meeting, ACT plans to gather electronic signatures and line up support from the National Pension Service and domestic and overseas asset managers to meet the 3% ownership threshold. The campaign comes after Samsung shares fell by more than a third from record highs in June despite the artificial intelligence boom, Reuters reported.
8-4
8-4
Lufthansa cuts adjusted EBIT outlook to €1.7 billion–€2.2 billion after Q2 profit drops 56% on fuel costs
Lufthansa lowered its full-year adjusted EBIT forecast to €1.7 billion–€2.2 billion after sharp kerosene price volatility linked to the U.S.-Iran war pushed fuel costs higher. The new range is well below the airline’s earlier guidance for adjusted EBIT to be significantly above last year’s €1.96 billion. Second-quarter EBIT fell 56% year on year to €383 million. The group said its full-year capacity plan remains largely flat, though Q2 capacity was down about 3% due in part to strike days in April.
8-4