Santander has appointed Declan Canavan as head of institutional distribution for its alternative investment asset management business https://t.co/altMxjEKNl ...

Core Viewpoint - Natura is simplifying its operations by selling Avon's businesses in several Central American countries to Grupo PDC for $1, as part of a broader organizational restructuring effort [1][2]. Group 1: Transaction Details - The deal includes Avon's operations in Guatemala, Nicaragua, Panama, Honduras, El Salvador, and the Dominican Republic, collectively referred to as Avon CARD [1]. - An additional payment of $22 million is expected upon closing, which is a receivable from Avon Guatemala to Natura's subsidiary in Mexico [3]. - Natura will continue to supply finished goods to Avon CARD and will act as the licensor of the Avon brand in the region [3]. Group 2: Financial Impact and Market Reaction - Following the announcement of the Avon CARD deal, Natura's shares rose over 3%, outperforming the Bovespa index, which increased by 1.1% [2]. - Analysts estimate that the sale of Avon CARD could result in savings of approximately 60 million reais ($11.28 million) for the company [5]. Group 3: Strategic Alternatives - Natura is exploring strategic alternatives for the Avon International unit, which includes its Avon businesses outside Latin America, recently classified as an asset "held for sale" [4]. - The businesses in the Dominican Republic and Central America were also reclassified under this label in August [4]. - Analysts believe that the Avon CARD deal may enhance sentiment towards Natura's efforts to sell Avon International [4].

Klarna secures a warehouse facility with Santander worth as much as €1.4 billion in its first ever deal of this kind https://t.co/2pMbHpkWRq ...

Financial Data and Key Metrics Changes - Genworth reported net income of $51 million for the quarter, with adjusted operating income of $68 million or $0.16 per share, largely driven by a strong performance from ENACT, contributing $141 million to adjusted operating income [6][7][20] - The liquidity position remains strong, ending the quarter with cash and liquid assets of $248 million [7][31] - Total estimated pretax statutory income for U.S. Life insurance companies was $81 million, primarily influenced by favorable impacts to annuities from equity market and interest rate movements [6][27] Business Line Data and Key Metrics Changes - The long-term care (LTC) insurance segment reported an adjusted operating loss of $37 million, driven by a remeasurement loss related to unfavorable actual variances from expected experience [21] - Life insurance reported an adjusted operating loss of $20 million, while annuities generated adjusted operating income of $13 million [22] - ENACT's primary insurance in force grew by 1% year-over-year to $270 billion, supported by new insurance written and elevated persistency [23] Market Data and Key Metrics Changes - The CareScout quality network expanded access to consumers in all 50 states, with nearly 650 home care providers now part of the network [12] - The network achieved nearly 1,400 successful matches between Genworth LTC policyholders and CareScout providers as of the end of the second quarter, with a full-year estimate raised to 2,850 matches [12][13] Company Strategy and Development Direction - Genworth's strategic priorities include enhancing cash flow from ENACT, maintaining self-sustainability in legacy businesses, and driving long-term growth through CareScout [7][9][34] - The company plans to invest approximately $45 million to $50 million in CareScout services in 2025 to build out the platform [31] - The new CareScout Insurance product is expected to launch later this year, with approvals already secured in 29 jurisdictions [13][86] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute and sustain momentum through the remainder of 2025, highlighting the financial strength and operational performance at ENACT [19][34] - The rising costs of LTC services and the increasing number of seniors are expected to make CareScout's offerings more valuable in the future [17][18] - Management remains optimistic about the growth potential of CareScout and the overall financial health of the company [99][100] Other Important Information - The UK High Court issued a favorable judgment in the AXA Santander litigation, with potential recoveries estimated at approximately $750 million [15][33] - The company plans to use proceeds from the litigation for share buybacks, investments in CareScout, and opportunistic debt repayment [44][99] Q&A Session Summary Question: Update on the appeal process regarding the lawsuit - Management explained that Santander has until August 15 to seek permission from the appellate court, which could take 12 to 18 months if granted [39][40] Question: Consideration of a common stock dividend - Management indicated that the majority of shareholders prefer share buybacks over dividends, but the possibility of initiating a dividend remains open [52][53] Question: Potential for settlement in the lawsuit - Management remains open to discussions regarding settlement but feels confident about prevailing in the case [60][62] Question: Size of the LTC recapture and related gain - The arbitration was with Blue Cross Blue Shield of Nebraska, with a gain of $26 million resulting from a favorable outcome [79][82] Question: New LTC products and their issuance - New LTC products will be issued through the CareScout Insurance Company, which is separate from the legacy companies [86][90]

Financial Data and Key Metrics Changes - Genworth reported net income of $51 million for the quarter, with adjusted operating income of $68 million or $0.16 per share, largely driven by a strong performance from ENACT, contributing $141 million to adjusted operating income [6][7][21] - Total estimated pretax statutory income for U.S. Life insurance companies was $81 million, primarily influenced by favorable impacts from equity market and interest rate movements [7][30] - The liquidity position remained strong, ending the quarter with cash and liquid assets of $248 million [7][32] Business Line Data and Key Metrics Changes - The long-term care (LTC) insurance segment reported an adjusted operating loss of $37 million, driven by a remeasurement loss related to unfavorable actual variances from expected experience [22] - Life insurance reported income of $18 million, while annuity products reported income of $89 million, reflecting favorable impacts from market movements [30] - ENACT's primary insurance in force grew 1% year-over-year to $270 billion, supported by new insurance written and elevated persistency [24] Market Data and Key Metrics Changes - The CareScout network expanded to nearly 650 home care providers, covering over 90% of the 65+ census population in the U.S. [13] - The average cost of home care has surpassed $77,000 per year, with significant increases noted in recent years [18] Company Strategy and Development Direction - The company continues to focus on three strategic priorities: enhancing cash flow from ENACT, maintaining self-sustainability in legacy businesses, and driving long-term growth through CareScout [7][10][21] - CareScout aims to create value by delivering savings to U.S. life insurance companies, providing new revenue sources, and growing Genworth's valuation over the long term [10][12] - The company plans to re-enter the market with a low-risk standalone LTC insurance product later this year, targeting approvals in 30 to 35 states [14][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute and sustain momentum through the remainder of 2025, highlighting the financial strength and operational performance at ENACT [20][92] - The rising costs of LTC services and the increasing number of aging baby boomers are expected to enhance the value of CareScout's offerings [18][19] - Management remains optimistic about the growth potential of CareScout and the overall financial health of the company [92] Other Important Information - The UK High Court issued a favorable judgment in the AXA Santander litigation, with potential recoveries estimated at approximately $750 million, which have not been factored into capital allocation plans [15][35] - The company plans to allocate between $100 million to $150 million for share repurchases in 2025, depending on business performance and market conditions [34] Q&A Session Summary Question: Update on the appeal process regarding the lawsuit - Management explained that Santander has until August 15 to seek permission from the appellate court, which could take two to three months for a decision [40][42] Question: Consideration of a settlement to eliminate the possibility of an appeal - Management remains open to discussions but feels confident about prevailing in the case [57] Question: Possibility of initiating a common stock dividend - Management indicated that the majority of shareholders prefer share buybacks over dividends at this time, but the board continues to evaluate the option [51][52] Question: Details on the LTC recapture and new LTC products - The LTC recapture involved a favorable arbitration outcome, and new LTC products will be issued through CareScout Insurance Company [78][84]

Financial Performance - Euronet reported revenue of $1,074.3 million, a 9% increase compared to $986.2 million in Q2 2024[17] - Operating income increased by 18% to $158.6 million, up from $134.3 million in Q2 2024[17] - Adjusted EBITDA grew by 16% to $206.2 million, compared to $178.2 million in Q2 2024[17] - Adjusted EPS increased by 14% to $2.56, up from $2.25 in Q2 2024[17] - On a constant currency basis, revenue increased by 6%, operating income by 13%, and adjusted EBITDA by 11%[17] Strategic Initiatives - Euronet signed a merger agreement to acquire CoreCard (NYSE: CCRD)[13] - The company signed an agreement with a top three bank in the United States for its Ren technology[13] - Euronet acquired a majority stake in Kyodai Remittance, a leading Japanese firm[71] Business Segment Highlights - Money Transfer digital transactions grew by 29%, with 55% of payouts going through digital channels[44] - epay now has 70% of its transactions fully digital[39] - EFT Processing revenue increased 11% to $338.5 million[20]

RT Bloomberg em Português (@BBGEmPortugues)Foco do Copom está voltado para a avaliação que o BC fará sobre a tarifa dos EUA. Lula diz que não há razão para temer críticas a Trump. Santander vê “ambiente econômico mais complexo”. Fomc deve manter juro. Se inscreva para receber nossa newsletter https://t.co/4muu9BY2M4 ...

JOUMANNA: GOOD MORNING. THIS IS BLOOMBERG "DAYBREAK: EUROPE." I’M JOUMANNA BERCETCHE. THESE ARE THE STORIES THAT SET YOUR AGENDA.HSBC MISSES ESTIMATES FOR A PRETAX PROFIT BUT IT IS BEAT NET INCOME FOR UBS. WE’LL BE SPEAKING WITH THE CEO. ASIAN STOCKS EDGE HIGHER AS CHINA’S TRADE NEGOTIATOR SAID THERE IS AN AGREEMENT ON EXTENDING THE U.S. TARIFFS.SCOTT BESSENTS SAID PRESIDENT TRUMP WILL MAKE THE FINAL DECISION. WILL JEROME POWELL FACE MORE PRESSURE FROM FOMC MEMBERS TO CUT U.S. INTEREST RATES. JOUMANNA: WELC ...

Core Insights - Barclays Plc reported a pre-tax profit of £2.5 billion ($3.34 billion) for the second quarter, exceeding the LSEG forecast of £2.23 billion, and announced a £1 billion ($1.33 billion) share buyback due to increased investment banking revenues driven by market volatility [1][2] Group 1: Financial Performance - The bank's group revenues reached £7.2 billion, aligning with analyst expectations [1] - The investment banking unit generated £3.3 billion in income for the three months ending in June, marking a 10% year-on-year increase [2] - Return on Tangible Equity was reported at 13.2% for the first half, down from 14% in the first quarter, while the CET1 capital ratio improved to 14% from 13.9% in March [6] Group 2: Strategic Developments - Barclays is undergoing cost reduction initiatives under CEO C.S. Venkatakrishnan, which include plans to cut over 200 jobs and engage consultancy McKinsey for further cost-saving opportunities [2] - The bank has appointed Alex Ham, a former Deutsche Numis executive, as global chairman, indicating a strategic shift within the investment banking division [2] Group 3: Market Challenges - Upcoming changes in U.S. capital leverage rules may intensify competition in the debt markets, an area where Barclays has historically been strong following its acquisition of Lehman Brothers' investment banking and capital markets businesses [3] - The British banking landscape is evolving, with Santander's acquisition of TSB and potential strategic shifts from NatWest, which recently returned to private ownership [4]

🚨JUST IN: AMERICAN EXPRESS, BANK OF AMERICA, AND SANTANDER ARE NOW USING $XRP, PER NEW DATA REVEALED BY SMQKE ...