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Yahoo
3 minutes ago
- Yahoo
Marcos says Philippines would be dragged 'kicking and screaming' into Taiwan war
Philippine President Ferdinand Marcos warned Monday that his country would be dragged "kicking and screaming" into any war over Taiwan, but must prepare for it. China considers self-ruled Taiwan, Manila's closest neighbour to the north, to be part of its territory and has threatened to seize it by force. "If there's a war over this it is near us. What are we supposed to do?" Marcos told a news conference, adding: "We can't ignore it." "So inevitably, despite our fervent wish to avoid any confrontation with anybody, anywhere, a war over Taiwan will drag the Philippines, kicking and screaming into the conflict," he said. "I hope it doesn't happen... But if it does we have to plan for it already," he said, citing the large numbers of Filipinos working in Taiwan. In an interview with Indian news agency Firstpost during a state visit to New Delhi last week, Marcos said that in the event of a confrontation between China and the United States over Taiwan, "there is no way that the Philippines can stay out of it simply because of our physical geographic location". "If there is an all-out war, then we will be drawn into it," Marcos said in the interview, which was uploaded on YouTube. The reported comments angered Beijing, with the the Chinese foreign ministry lodging a diplomatic protest and accusing Marcos of "playing with fire" over the issue. China and the Philippines have engaged in a series of confrontations in the South China Sea, which Beijing claims almost entirely despite an international ruling that the assertion has no legal basis. Since his election in 2022, Marcos has boosted cooperation between the former US colony and the United States, with which Manila has a mutual defence treaty. cgm/fox

Yahoo
3 minutes ago
- Yahoo
Just Group PLC (LSE:JUST) (Q2 2025) Earnings Call Highlights: Record Profits and Strategic ...
Release Date: August 07, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Just Group PLC (LSE:JUST) reported a 34% increase in profits to 504 million, with operating earnings per share up 36%. The company achieved record sales of 5.3 billion, driven by a 36% increase in new business sales. The DB business completed its largest transaction to date, a 1.8 billion scheme, showcasing its strong market position. The solvency ratio stands at a robust 204%, providing significant headroom for future growth. The dividend was increased by 20%, reflecting confidence in the business's future prospects. Negative Points The share price reaction was not as positive as expected despite strong financial results. There is uncertainty regarding the impact of regulatory changes, such as the 42 million hit from Solvency UK reforms. The company faces potential challenges in maintaining margins if credit spreads tighten further. The market for DB transactions is expected to be more weighted towards the second half of the year, which may affect short-term growth visibility. There are concerns about the sustainability of low new business strain, which has been consistently below target. Q & A Highlights Warning! GuruFocus has detected 5 Warning Sign with LSE:JUST. Q: Can you provide an update on the DB pipeline and the impact of recent transactions on your growth plans? A: (David Richardson, CEO) Our Beacon platform continues to grow, with over 300 schemes now loaded. We've opened up the market for larger transactions, such as our first over 1 billion deal in 2024. Our pipeline remains strong, and we expect growth to be more weighted towards the second half of the year. Q: What factors influenced the decision to increase the dividend by 20%? A: (Mark Godson, CFO) We consider cash, earnings, and capital over the medium term. Dividends are a small part of our surplus generation, with most surplus reinvested in new business. The increase reflects confidence in the business's long-term value. Q: Why haven't you set new targets after achieving your previous profit doubling goal ahead of schedule? A: (David Richardson, CEO) We've exceeded our target by increasing profits by 2.4 times in three years. We are confident in our ability to grow earnings at an attractive rate from this higher level, supported by our strong business franchise and market opportunities. Q: How do you view the use of funded reinsurance given regulatory scrutiny? A: (David Richardson, CEO) We are comfortable with our risk management practices and have always engaged openly with regulators. Funded reinsurance is an option to enhance margins but not a dependency for our profitability or future expectations. Q: Can you explain the low new business strain and whether you're considering taking on more risk? A: (Mark Godson, CFO) Our low new business strain is due to disciplined pricing and market conditions. We focus on sustainable growth and high returns on investment. We are not looking to change our target of less than 2.5% strain, even though we've consistently been below it. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
33 minutes ago
- Yahoo
What Is China's 'Anti-Involution' Campaign?
China's electric vehicle makers and food delivery giants including BYD Co. and are locked in a fierce price war, prompting government concern over deflationary pressures and long-term sustainability. In response, President Xi Jinping has launched an "anti-involution" campaign to curb these practices. Bloomberg TV's Minmin Low explains.