Financial Data and Key Metrics Changes - IT services revenue for Q2 FY 2026 was $2.6 billion, with a sequential growth of 0.3% in constant currency and a year-on-year decline of 2.6% [6][18] - Adjusted operating margin for the quarter was 17.2%, an improvement of 0.4% compared to the same period last year [6][19] - Net income and EPS grew by 1% year on year, while operating cash flows remained higher than net income at 104% for Q2 [23] Business Line Data and Key Metrics Changes - Americas One grew 0.5% sequentially and 5% year on year, while Americas Two declined 2% sequentially and 5% year on year [20] - Europe reported a sequential growth of 1.4% but a year-on-year decline of 10.2% [21] - APMEA grew 3.1% sequentially and 2.6% year on year, with strong performance in India, Australia, and Southeast Asia [21] - BFSI sector showed sequential growth of 2%, driven by Europe and APMEA [85] Market Data and Key Metrics Changes - The healthcare sector is undergoing structural changes, impacting performance, but remains a strong performer for the company [9][88] - Consumer, energy, and manufacturing sectors are facing tariff uncertainties, leading to reevaluation of supply chains [9] Company Strategy and Development Direction - The company is focusing on AI adoption and vendor consolidation as key strategies for growth [9][10] - Wipro Intelligence, a unified suite of AI-powered platforms, is being introduced to enhance client capabilities [13][14] - The company aims to maintain operational discipline while converting a strong backlog into revenue [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth, particularly in BFSI, as large deals begin to ramp up [30][31] - The company anticipates a sequential IT services revenue growth of -0.5% to +1.5% in constant currency for Q3 [16][24] - Management acknowledged headwinds from large deal ramp-ups and seasonal factors affecting Q3 performance [35] Other Important Information - The Harman Digital Transformation Solutions acquisition is expected to close in the upcoming quarter, but revenues from this acquisition are not included in current guidance [24] - The company is actively investing in growth, which may pressure margins in the short term [19][35] Q&A Session Summary Question: Thoughts on deal to revenue conversion and future growth - Management noted that large deal wins in BFSI are expected to ramp up in Q3, contributing to future growth [28][29] Question: Margin outlook and transition costs - Management indicated that while there are headwinds from large deals, operational improvements and currency fluctuations have positively impacted margins [32][34] Question: Sustainability of year-on-year growth in line with peers - Management expressed confidence in sustaining growth, focusing on executing deal wins and maintaining a robust pipeline [50][52] Question: Clarity on renewal deals and their impact - Management clarified that renewal deals are a mix of renewals and expansions, with some deflationary pressures expected [95][96] Question: Impact of bankruptcy on revenue - Management confirmed that there was no impact on Q2 revenue from the bankruptcy provision made [99]

Canada threatened legal action against Stellantis after the carmaker announced it would shift Jeep Compass SUV manufacturing from Ontario to Illinois following Trump’s tariffs https://t.co/tjW1RdiIJ4 ...

Core Insights - Global copper demand is projected to increase by 24% by 2035, reaching 42.7 million tonnes per annum (Mtpa), driven by economic development and new demands from electrification and digitalisation [1][2] - Four disruptors could add an additional 3 Mtpa, or 40% of total copper demand growth, by 2035, leading to increased price volatility [2] Disruptors of Copper Demand - Data centres are identified as a significant variable in copper demand forecasting, with AI expected to consume an additional 2,200 TWh of electricity by 2035, raising copper demand for grid infrastructure to 1.1 Mtpa by 2030 [6][9] - The inelastic demand created by data centres means that developers are less sensitive to copper price fluctuations, potentially leading to price spikes of 15% or more during construction surges [7][8] - The energy transition is reshaping copper consumption, with an additional 2 Mtpa of copper needed over the next decade due to the shift to renewable energy systems, and demand from this sector projected to grow from 1.7 Mtpa to 4.3 Mtpa by 2035 [9][10] Regional Demand Growth - India and Southeast Asia are expected to contribute an additional 3.3 Mtpa of copper demand by 2035, with average annual growth rates of 7.8% and 8.2% respectively, driven by rapid industrialisation [10] - If these regions replicate even half of China's historical growth, their construction and power sectors could require an additional 5.4 Mtpa of copper [10] Geopolitical Factors - Increased defence spending in Europe, driven by geopolitical tensions, is expected to add modest direct copper demand of 25 to 40 ktpa over the next decade, but will have broader implications for infrastructure resilience and modernisation [11][12] Supply Challenges - To meet the projected demand growth, more than 8 Mtpa of new mine capacity and 3.5 Mtpa of additional scrap will be required by 2035, with the industry needing to adjust its annual mine disruption assumptions from 5% to 6% [13][14] - The convergence of the four disruptors in a supply-constrained environment could lead to prolonged high prices and unpredictable market fluctuations [14][15]

TrueCar agreed to be taken private in an all-cash deal valued at about $227 million, shaking up the online vehicle marketplace at a volatile time for the automotive industry https://t.co/j98hJ9lUR5 ...

Investment and Expansion - Stalan is investing $13 billion in US manufacturing [1][3][10] - The investment aims to increase US production by 50% [1][6] - This is the largest single investment in the company's history [2] - The investment will create 5,000 new jobs directly and an estimated 20,000 additional jobs for suppliers [1][7] Product and Strategy - The company is launching five new products, one new engine, and 19 additional product actions [3] - The company aims to renew its entire lineup [3] - The company grew by 6% last quarter in the US market [5] - The company is focusing on the US market as its number one priority for growth [3][8] Pricing and Competition - The company has already adjusted prices to be competitive, and some are even better than competitors [10] - New product launches will also be competitively priced [10]

Stellantis will invest $13 billion in the US over the next four years as it seeks to reinvigorate its business in the market and curb the impact of tariffs https://t.co/8PdMRSPQ7a ...

En Toyota, ciudad símbolo del milagro industrial japonés, los inmigrantes son esenciales pero enfrentan rechazo. El auge del nacionalismo amenaza el frágil equilibrio entre necesidad y xenofobia. https://t.co/zjdhUvLgiU ...

Core Insights - Gold and silver traders must consider monetary policy, inflation data, and safe-haven demand while exploring the broader precious metals market, including platinum and palladium, which offer unique investment narratives [1][2] Group 1: Platinum Insights - Current platinum pricing presents an anomaly compared to historical ranges, with a ratio of 2.5x to gold, indicating a potential long-term value opportunity [3][4] - Over 60% of platinum's demand is driven by industrial applications, particularly in the automotive sector, which accounts for half of that demand [5] - The shift towards increased use of platinum in gasoline engine catalysts due to high palladium prices is creating a structural demand change for platinum [5] - Platinum's role in the hydrogen economy, particularly in green hydrogen production and fuel cells, positions it as a key player in the transition to decarbonization and green energy [5] - Supply concentration in South Africa, where around 70% of the world's platinum is mined, poses significant risks, as operational disruptions can lead to immediate price impacts [5] Group 2: Palladium Insights - The ongoing high prices of palladium have prompted automotive manufacturers to substitute it with platinum, indicating a potential long-term demand shift [5]

Core Insights - Wallbox has successfully completed the first U.S. residential installations of its Quasar 2 bidirectional charger, allowing households to power their homes directly from their Kia EV9, transforming the vehicle into a sustainable energy source [1][2] Company Developments - Six Quasar 2 units were installed in Menifee, California, in collaboration with Kia America and the University of California, Irvine, showcasing vehicle-to-home (V2H) technology in real residential settings [2] - The Quasar 2 charger enables electric vehicles to discharge energy back into homes, helping homeowners reduce electricity bills and contribute to grid stability during peak demand [3] Industry Impact - The initiative represents a significant step towards a future where electric vehicles serve as energy assets, enhancing homeowners' control over their energy consumption and promoting sustainability [4] - The project is part of a broader effort to integrate EVs, homes, and smart energy systems, aiming to create more sustainable and resilient communities [4] - Kia's V2H technology is part of the Kia Connect suite of services, emphasizing the role of electric vehicles in energy management and sustainability [5] Research Collaboration - The collaboration between Wallbox, Kia, and UCI highlights the importance of partnerships between research institutions and industry to gather data and insights necessary for scaling V2H deployment [5]

And we have some breaking news from GM. Our man Phil is going to try and fix it uh for us on the squawk news line for details. What do you got, Phil.Hey Joe, we have General Motors taking charges totaling $1.6% billion for the third quarter related to reduction in what they expect to be EV capacity as well as unwinding some EV product related uh contracts. So as a result, they going to take 1.2% 2 billion in one charge as an adjustment to EV capacity, another 400 million in contract cancellations. So, as yo ...