TUI Shares Surge as Package Holiday Firm Raises Profit Outlook
Underlying earnings before interest and tax are now expected to rise in the range of 9% to 11% from a year earlier, the company said Tuesday in a statement. That's above TUI's prior forecast for a gain of 7% to 10%.
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Zeekr Boosts Margins, Slashes Losses As New Models Power Sales
ZEEKR Intelligent Technology (NYSE:ZK), a premium electric vehicle (EV) unit of Geely Auto, reported fiscal second-quarter results on Thursday. The company reported quarterly revenue of 27.43 billion Chinese yuan, representing a decrease of 0.9% year-on-year (Y/Y). In U.S. dollars, revenue totaled $3.83 billion. The revenue grew by 24.6% quarter-on-quarter (Q/Q).Total vehicle deliveries were 130,866 units for the quarter, representing a 9.3% Y/Y increase and a 14.8% Q/Q increase. The Zeekr brand delivered 49,337 vehicles. Meanwhile, the Lynk & Co brand delivered 81,529 vehicles, with 58.8% of deliveries coming from NEV models. The premium electric vehicle company's adjusted net loss per ADS was 1.42 Chinese yuan. In U.S. dollar terms, the company reported adjusted net loss per ADS of 20 cents. Vehicle sales revenue were 22.92 billion Chinese yuan ($3.2 billion) for the quarter, representing an increase of 2.2% Y/Y driven by higher sales volume of the Lynk & Co brand, partially offset by lower sales volume of the Zeekr brand. The revenue grew by 20.0% Q/Q, mainly driven by sales growth resulting from the launch of new models. View more earnings on ZK The vehicle margin was 17.3%, up from 11.5% in the prior year quarter, driven by sustained cost-saving initiatives. The prior quarter margin was 16.5%. Revenues from other sales and services declined 13.8% Y/Y to $630 million for the quarter, due to a decrease in R&D revenue from related parties. The revenue grew by 54.5% Q/Q due to the increased overseas sales of battery packs and electric drives. The gross margin expanded to 20.6% for the quarter from 18.0% a year ago. The prior quarter margin was 19.1%. Adjusted net loss was $51 million for the quarter, down by 81.2% Y/Y. The loss declined by 38.8% Q/Q. As of June 30, 2025, cash and cash equivalents and restricted cash stood at 10.21 billion Chinese yuan ($1.43 billion). Zeekr stock gained 4.4% year-to-date signifying intense electric vehicle competition from the likes of Tesla (NASDAQ:TSLA), Nio (NYSE:NIO). Price Action: ZK shares are trading higher 1.21% to $29.99 premarket at last check Thursday. Photo by aapsky via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Zeekr Boosts Margins, Slashes Losses As New Models Power Sales originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. 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
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Santander advances AI-driven banking through OpenAI partnership
Banco Santander is advancing its commitment to a data and AI-centric approach through collaboration with OpenAI, aiming to establish itself as an "AI-native" bank. This initiative is part to the bank's vision of modernising operations and leading the transition towards a more personalised, and agile banking experience. By integrating AI with its existing "digital bank with branches" model, Santander seeks to differentiate itself in the competitive banking landscape. Historically, Santander has employed AI in areas such as fraud detection and customer service, which now serve as the foundation for its new strategy. The bank plans to scale generative and agentic AI not just to optimise existing processes but to redefine the banking experience entirely. This strategy is built on three key pillars, including embedding AI across all business functions, placing AI at the heart of global platforms, and leveraging an AI ecosystem for growth through partnerships with OpenAI, Microsoft, Amazon, and a startup community. The results are already evident, with AI projects generating more than €200m in savings in 2024 alone, the lender said. AI copilots assist in more than 40% of contact centre interactions, while Speech Analytics processes around ten million voice calls annually in Spain. In just two months, Santander implemented ChatGPT Enterprise for nearly 15,000 employees across Europe and the Americas, with plans to expand this to 30,000 users by year-end, encompassing about 15% of its workforce. AI tools are designed to assist developers, marketers, bankers, and service agents in tackling complex tasks more efficiently. Initial applications include investment copilots offering real-time strategy suggestions and hyper-personalised customer journeys. Santander's architecture is modular and vendor-neutral, allowing seamless integration with OpenAI and other large language models. More than 6,000 developers are currently utilising AI tools, resulting in productivity increases of 20–30% for certain tasks. To democratise AI usage, Santander is implementing tailored training programmes across various roles, including learning capsules, workshops, and hands-on hackathons. Banco Santander chief data and AI officer Ricardo Martín Manjon said: 'In today's fast-moving financial landscape, competitive edge comes not just from adopting artificial intelligence, but from embedding it into the DNA of how we work. 'At Santander, this belief drives our strategy. As chief data & AI officer, I'm proud to share how we're reshaping banking through a 'data & AI-first' transformation, now supported by a new collaboration with OpenAI.' Looking ahead, Santander plans to introduce a mandatory AI training programme for all employees starting in 2026, focusing on "Responsible AI" to ensure ethical practices throughout the organisation. The roadmap for 2026–27 includes expanding agentic AI, transforming both front- and back-office operations, and enabling fully conversational banking. AI copilots are expected to evolve into decision-making partners, while virtual assistants will handle transactions for customers. "Santander advances AI-driven banking through OpenAI partnership" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
21 minutes ago
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Sarasin & Partners names new head of private clients
Uk-based investment management firm Sarasin & Partners has named Tom Vernon as the new head of the Private Clients team. Vernon, who has been with Sarasin & Partners since 2006, will replace Jamie Black, who has served in the role for over two decades. Meanwhile, Jamie Black will continue to serve as a senior partner at Sarasin & Partners, managing his established client relationships. He will also maintain his position as a director of Sarasin Asset Management, the firm's subsidiary focused on managing investment portfolios for US-based clients. Having joined the firm shortly after his graduation from the University of Bristol in 2006, Vernon has been managing a broad spectrum of client portfolios, including those of UK and international private clients and charities. He is also part of the firm's Investment Strategy Group, which manages Sarasin & Partners' long term thematic investment strategy. In his new role, Vernon will oversee the management of £4.9bn in assets for over 850 clients. Vernon said: 'We have long prided ourselves on building enduring relationships with our clients, rooted in trust, transparency and investment insight. I look forward to the opportunity to lead the team in continuing this work and delivering the outcomes our clients value most.' Sarasin & Partners managing partner Guy Matthews said: 'Tom's appointment reflects the depth of talent and expertise within our Private Client team. Since joining nearly two decades ago, he has played a key role in developing our client relationships and shaping our long-term investment thinking. 'Jamie's steady leadership and deep commitment to our clients has been instrumental in the team's growth and success. He will continue to play a vital role in the business, both as a partner and in his ongoing leadership of our service for US clients.' "Sarasin & Partners names new head of private clients " was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
