April Global Regulatory Brief: Green finance
Green finance regulatory developments
The financial sector continues to face new rules and government expectations as part of the broader effort to aid the green transition. The following green finance policy developments represent a sample of wider regulatory and policy coverage available to Bloomberg Terminal customers. Run REGS to find out more or contact your Bloomberg representative to learn more.
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Forbes
21 minutes ago
- Forbes
Centene Reports $253 Million Loss Amid Health Insurer Cost Struggles
Centene chief executive officer Sarah London on Friday July 25, 2025 said the company is ... More "disappointed by our second quarter results, but we have a clear understanding of the trends that have impacted our performance, and are working with urgency and focus to restore our earnings trajectory." In this photo, London speaks during the Forbes Healthcare Summit in New York, US, on Tuesday, Dec. 5, 2023. Photographer: Michael Nagle/Bloomberg Health insurer Centene reported a $253 million loss in its second quarter as the provider of government-subsidized benefits struggles to manage costs of its health plan members. The $253 million loss, or 51 cents a share, compares to a $1.1 billion in net income, or $2.16 a share, in the second quarter of last year, Centene disclosed Friday in its quarterly earnings report. Centene said premium and service revenues increased 18% to $42.5 billion from $36 billion in the year ago period. Centene, which has 28 million health plan subscribers, is seeing rising costs among health plan members in all three government-subsidized benefits it helps manage: Medicaid, Medicare Advantage and individual coverage under the Affordable Care Act, also known as Obamacare. "We are disappointed by our second quarter results, but we have a clear understanding of the trends that have impacted our performance and are working with urgency and focus to restore our earnings trajectory," Centene Chief Executive Officer Sarah M. London said in a statement accompanying the company's earnings report. "Despite the shifting landscape, we believe that the staying power of Medicaid, Medicare and the Individual Marketplace is as strong as it has ever been. Centene has significantly fortified our platform in service of these programs over the last three years, and as we move forward, we are focused on continuing to adapt with the market to deliver meaningful value to our members, our stakeholders and our shareholders over the long term." Centene, which planned to reveal its 2025 profit forecast during a call with analysts Friday morning, pulled its financial guidance earlier this month, citing an independent firm's analysis showing patients it provides health benefits for were sicker and needed more healthcare services than anticipated. On Friday, Centene said its health benefits ratio, which is the percentage of premium revenue that goes toward medical costs, jumped to 93% for the second quarter of 2025, compared to 87.6% in the comparable period in 2024. 'The (health benefits ratio) increase was primarily driven by a reduction in the company's net 2025 Marketplace risk adjustment revenue transfer estimate, increased Marketplace medical costs, higher medical costs in Medicaid driven primarily by behavioral health, home health and high-cost drugs, and an increase to the 2025 Medicare Advantage premium deficiency reserve based on the progression of earnings during the year (with higher earnings at the beginning of the year and lower at the end of the year, given cost sharing progression),' Centene said in its second quarter earnings report. Centene's cost struggles are only the latest among a parade of health insurance companies that have struggled in the last two years to control costs of subscribers in plans subsidized by the government. Just last week, Elevance Health, which sells Blue Cross and Blue Shield plans in 14 states, lower its profit forecast for the rest of 2025 due to rising costs in its Medicaid plans and individual policies it sells under the Affordable Care Act. In addition, Molina Healthcare lowered its earnings guidance for the rest of the year in the face of cost pressures in all three of the government-subsidized health insurance programs it helps manage: Medicaid, Medicare Advantage and individual coverage under the ACA, also known as Obamacare. And in May, UnitedHealth suspended its financial outlook for the rest of the year and replaced its top executive as the parent of UnitedHealthcare grapples with rising healthcare costs in its Medicare Advantage business. Medicare Advantage plans contract with the federal government to provide health benefits to seniors. Medicare Advantage plans also contributed to struggles last year for Humana and CVS Health, which elevated a new chief executive in part to help gain control of its struggling Aetna health insurance business. CVS is also exiting the individual health insurance business, leaving about 1 million Aetna members in 17 states looking for new coverage in 2026.
Yahoo
an hour ago
- Yahoo
S&P 500's Humming Profit Engine Can Keep Powering Stocks Rally
(Bloomberg) -- A solid earnings season shows Corporate America's profit engine is humming along, potentially easing worries that the record-setting rally in US stocks is starting to overheat. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom With about a third of S&P 500 Index members reporting by Thursday's close, this earnings cycle is turning out to be much more robust than expected. Around 83% of companies have exceeded analysts' profit estimates, according to data compiled by Bloomberg Intelligence. That's on track for the highest share of beats since the second quarter of 2021. The S&P 500 is up 28% since hitting a low on April 8, setting a series of record highs over the past few weeks. Even a version of the US benchmark that weights all members equally, rather than by market value, has notched a record. Those advances have come as fears about the impact of tariffs on the economy ebbed and investors slowly returned to stocks, abandoning an extreme aversion to risk. For the gains to persist, corporate earnings will need to keep impressing investors, and Mark Hackett at Nationwide says the earnings season is pointing in that direction. 'As some of the pessimistic scenarios are fading, management commentary is less conservative and estimates for 2025 and 2026 are beginning to increase, which provides that tailwind,' said the firm's chief market strategist. Several major companies have been upbeat. Alphabet Inc. saw demand for artificial intelligence products boosting quarterly sales. Homebuilders D.R. Horton Inc. and PulteGroup Inc. reported better-than-expected earnings, sparking a relief rally in the stocks. Netflix Inc. raised its forecast for full-year sales and profit margins. And Levi Strauss & Co. said it expected sales growth to outweigh the effect of tariffs. Most companies are topping estimates for a quarter where many analysts lowered their expectations, anticipating a weak reporting period amid heightened uncertainty about trade policy and economic growth. Before the cycle started, S&P 500 companies were expected to post a profit increase of 2.8% year-over-year in the second quarter, according to data compiled by BI. So far, overall earnings growth is 4.5%. Meanwhile, economic data is also showing no immediate cause for alarm. Applications for US unemployment benefits fell for a sixth straight week, Labor Department data showed on Thursday, suggesting the job market is staying resilient. 'While the labor market is not firing on all cylinders, it's not showing signs of distress either,' said Bret Kenwell, US investment analyst at EToro. That should help investors breathe easy, Kenwell said. Still, the runway isn't completely clear for US stocks. Equity valuations are high, with the S&P 500 trading at around 22.5 times projected earnings, compared to a 10-year average of 18.6. That's sparked concerns that there may be little room for error. In fact, companies missing both earnings and sales estimates are being punished the hardest since the third quarter of 2022. Moreover, signs of froth are emerging, with a manic rally in so-called meme stocks offering a reminder of 2021's extreme investor euphoria. 'Overly bullish sentiment is still the market's biggest risk factor,' said John Kolovos, chief technical market strategist at Macro Risk Advisors. Some Wall Street trading desks are telling clients to hedge against potential losses in case developments from the Federal Reserve or on the tariff front sour investor sentiment. Pricey valuations are the reason why Dec Mullarkey, managing director at SLC Management, is keeping a close eye on profit beats, but an even closer one on guidance. 'Stronger-than-expected results are a support for equities, but this is an exacting market,' Mullarkey said. 'Companies need to have a decent story and a strong outlook.' Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P. 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
2 hours ago
- Yahoo
China Budget Gap Hits Record in Spending Blitz to Offset Tariffs
(Bloomberg) -- China's budget deficit climbed to a fresh record in the first half, highlighting intensified government efforts to shore up domestic demand as Donald Trump's tariffs reduce exports to the US. Trump Awards $1.26 Billion Contract to Build Biggest Immigrant Detention Center in US The High Costs of Trump's 'Big Beautiful' New Car Loan Deduction Can This Bridge Ease the Troubled US-Canadian Relationship? Salt Lake City Turns Winter Olympic Bid Into Statewide Bond Boom The broad fiscal gap reached 5.25 trillion yuan ($733 billion) in January-June, according to Bloomberg calculations based on data released by the Finance Ministry during a briefing on Friday. The shortfall widened 45% from a year earlier. Chinese authorities have front-loaded fiscal stimulus to boost infrastructure investment and household consumption, aiming to support growth in the face of a sluggish property market and mounting deflationary pressures. Despite a recent tariff truce, exports to the US have contracted as average American levies on Chinese goods remain about 30 percentage points higher than last year. Government spending and resilient shipments to markets other than the US underpinned China's growth in the first half, with gross domestic product expanding 5.3% — well above the official annual target of around 5%. Top leaders are set to convene toward the end of this month to discuss economic policy for the rest of the year, just as Chinese and US negotiators prepare to meet next week for another round of trade talks. Their outcome will be key to deciding whether more stimulus is needed. Total expenditure increased 9% to 18.8 trillion yuan in the first six months from a year ago, the Finance Ministry's numbers showed. That figure combines spending under the general budget, which mainly includes everyday outlays, with expenditure in the government fund budget, which is weighted more toward capital investment projects. Total income in China's two main fiscal books fell 0.6% on year to 13.5 trillion yuan in the first six months. Tax revenue declined 1.2%. Government income from selling land continued to contract, dropping 6.5% in the first half of the year in reflection of persistent property market woes. --With assistance from Yujing Liu and James Mayger. Burning Man Is Burning Through Cash Elon Musk's Empire Is Creaking Under the Strain of Elon Musk It's Not Just Tokyo and Kyoto: Tourists Descend on Rural Japan Confessions of a Laptop Farmer: How an American Helped North Korea's Wild Remote Worker Scheme A Rebel Army Is Building a Rare-Earth Empire on China's Border ©2025 Bloomberg L.P.
