Core Viewpoint - State Street, the world's third-largest asset manager, is withdrawing most of its operations from the main global climate coalition, indicating a significant shift in its strategy towards climate-related initiatives [1] Group 1: Company Actions - State Street is pulling the bulk of its operations out of the climate coalition, which suggests a reevaluation of its commitment to climate-related investments [1] - The decision comes despite the coalition's efforts to retain members, highlighting potential challenges within the coalition's framework [1] Group 2: Industry Implications - The withdrawal of a major player like State Street from the climate coalition may signal broader trends in the asset management industry regarding climate commitments and investment strategies [1] - This move could impact the coalition's influence and effectiveness in driving climate-related initiatives across the industry [1]

Aptiv raised its full-year profit forecast on Thursday, banking on sustained demand for its electrical and software systems from the global auto industry. ...

China has approved the transfer agreement for the short video app TikTok, U.S. Treasury Secretary Scott Bessent said on Thursday, adding that he expects it to move forward in coming weeks and months b... ...

Core Insights - Google's Gemini AI Pro subscription plan will be provided for free to Reliance Jio users in India for a duration of 18 months [1] Company Summary - Google is expanding its AI offerings through the Gemini AI Pro subscription, targeting Reliance Jio users in India [1] - Reliance Jio is enhancing its service portfolio by including Google's AI subscription, which may attract more users and increase customer engagement [1]

Core Insights - Roblox has raised its annual bookings forecast for the third time this year, driven by strong in-game spending on popular titles [1] - The company has surpassed 150 million daily active users, indicating robust engagement and growth in its user base [1] Financial Performance - The increase in bookings forecast reflects a positive trend in revenue generation from in-game purchases [1] - Viral titles such as "Steal a Brainrot" have significantly contributed to the company's financial success [1]

Core Insights - Fox Corp exceeded quarterly revenue estimates, driven by robust advertising sales from its free streaming platform Tubi [1] Group 1 - The strong performance in advertising sales at Tubi significantly contributed to Fox Corp's revenue growth [1]

Core Insights - Xcel Energy missed third-quarter profit estimates due to increased interest charges and higher operating and maintenance expenses [1] Financial Performance - The company reported a decline in profits compared to expectations, primarily impacted by rising costs associated with interest and operational activities [1]

What matters in U.S. and global markets today ...

Core Insights - Insurer AIG is set to acquire a 35% stake in privately held specialty insurer Convex Group for nearly $2.1 billion [1] Company Summary - AIG is making a significant investment in Convex Group, indicating a strategic move to enhance its portfolio in the specialty insurance market [1] - The acquisition reflects AIG's commitment to expanding its presence in the insurance sector through partnerships with specialized firms [1] Industry Summary - The transaction highlights ongoing consolidation trends within the insurance industry, as larger firms seek to diversify their offerings and tap into niche markets [1] - The investment in Convex Group may signal increased competition in the specialty insurance space, as companies look to innovate and meet evolving customer needs [1]

Core Insights - Cardinal Health raised its annual adjusted profit forecast after exceeding first-quarter profit estimates, driven by strong demand for specialty medicines and branded drugs [1] Financial Performance - The company reported a strong first-quarter profit, which surpassed market expectations [1] - The increase in profit forecast indicates positive growth prospects for the company in the upcoming fiscal year [1] Market Demand - There is a notable increase in demand for costly specialty medicines, which has significantly contributed to the company's financial performance [1] - The performance in branded drugs also played a crucial role in the overall profit increase [1]