NatWest: Q1 Earnings Snapshot
LONDON (AP) — LONDON (AP) — NatWest Group plc (NWG) on Friday reported net income of $1.58 billion in its first quarter.
The London-based bank said it had earnings of 39 cents per share.
The bank posted revenue of $9.15 billion in the period. Its revenue net of interest expense was $5.01 billion, surpassing Street forecasts.
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Forbes
7 minutes ago
- Forbes
A Modern Approach To Legacy Software
HAVANA - SEPTEMBER 14: Men relax next to a car as Cuba hosts the week long 14th Non-Aligned Nations ... More summit September 14, 2006 in Havana, Cuba. Leaders from around the world continue to arrive for the Non Aligned Movement that currently has 116 member countries (53 of Africa, 38 of Asia, 24 of Latin America and the Caribbean and one from Europe (Belarus). (Photo by) Software is new, then immediately old. Rather like a new car, the moment you drive it out of the dealership, it starts to lose value and become old and used. It's a talking point that software engineers ponder over long into the small hours. One camp says that new versions of software are needed all the time, the other (if it ain't broke, don't fix it) camp says that legacy software is still around for a reason, it still works. There are software administrators and engineers in government IT departments all over the world using database tools from the 1990s. There are banks and financial institutions around the globe running Java and COBOL software language systems from the same epoch. That's not to say that the public sector and finance are necessarily slow; it's just that sometimes these software services just become deeply embedded and entrenched. VP of engagement and field CTO at technology analyst house GigaOm is Jon Collins. Viewing the world of always-on cloud-native technologies that constantly seek to evolve enterprise IT away from legacy code, Collins says that even though it's a truism that an application becomes legacy the moment it has been deployed; these older COBOL age systems could still perform more effectively if they were given an additional layer of integration and management control. That integration and management promise is embodied in the comparatively new notion of platform engineering, with its self-service internal developer platform structures that enable developers to manage their deployment pipelines and operations infrastructure. Does Technical Debt Stifle AI? Unsurprisingly, it doesn't take AI long to feature in this debate these days. The cloud-native community advocates the need for technologies that far outstrip the big data tools that we considered contemporary a decade ago. Low-code workflow automation company Pegasystems Inc. is among those warning enterprises over the risks of technical debt and legacy systems in relation to the adoption of AI and onward to quantum etc. The firm conducted a study with UK-based research specialist Savanta, which suggested that legacy dependency happens because organizations can't stop supporting their legacy applications even if they'd like to, because the systems are still business critical. For its analysis, Pega defined technical debt and legacy systems as outdated hardware, software, or technology platforms that remain in use due to their critical role in business operations. This is despite challenges such as limited scalability, security vulnerabilities, high maintenance costs and incompatibility with modern technologies. According to Don Schuerman, chief technology officer, Pega, technical debt is the implied (often intangible) cost of additional work or strain experienced when using these applications in business. That strain is often down to the siloed nature of disconnected systems (this app doesn't connect to the backend and show my last transaction… and so on) and the cost of maintenance. Schuerman says that applications that are resource-intensive to maintain help in 'perpetuating an organizational culture of waste' today. Recognising the fact that some companies (less than 10% in Pega's study) feel legacy applications caused no problems for their business whatsoever, Schuerman and team suggest that almost half (47%) say their oldest legacy application is between 11-20 years old, while more than one in ten (16%) run apps between 21-30 years old. Pegasystems clearly used its study of legacy mindsets to its Pega Blueprint tool. This is workflow software that developers can use to 'feed legacy process documentation' into so that it can move outdated systems into cloud-ready, future-proof workflow applications. As detailed here before now, technology surveys (even the 'independently executed' ones) generally have a payload of 'findings' that they are designed to deliver. An alternative analysis of these issues by headless CMS company Storyblok suggested that developers harbor 'widespread dissatisfaction and embarrassment' due to the poor state of the tech stacks they work with. The company thinks that 'an overwhelming number of engineers' say that their technology stack is negatively impacting their job, with some even considering quitting in the past year. When asked what made these engineers most unhappy in their day-to-day jobs, the chief culprit was 'maintaining and fixing bugs on legacy systems', followed by 'dealing with non-technical stakeholders who don't understand technical limitations' and a lack of clear requirements and constantly shifting priorities. Again, Storyblok has a headless API-first developer-friendly content management system to sell, so it has a vested interest in highlighting the limitations of pre-cloud-native technologies. Looking at the issues here from a user and business safety perspective, Scott McKinnon, CSO for UK and Ireland at Palo Alto Networks says that legacy IT systems pose a severe, yet too often underestimated cybersecurity risk to organizations across every sector. 'Many businesses continue to rely on outdated infrastructure, software, and applications that were not designed to withstand the sophisticated, multi-faceted attacks that are in use today. While digital transformation accelerates, the foundational components of many enterprises remain rooted in the past, creating vast and exploitable attack surfaces that cybercriminals are quick to leverage,' explained McKinnon, speaking to press this month in London. Some agree that the UK public sector faces the same challenges, but at an even greater scale, as highlighted by a National Audit Office report. Although UK-specific, this free-to-view report has dedicated sections covering legacy systems and the challenges of implementing digital change in the face of outdated technologies. "The escalating challenges of technical debt are causing critical vulnerabilities across organizations globally. This is about far more than just legacy hardware; it encompasses accumulated shortcuts, unaddressed architectural flaws and the continued reliance on software and systems that are no longer supported or patched,' said McKinnon. 'As organizations rapidly adopt new digital initiatives, the underlying foundational technical debt creates a dangerously brittle security posture, providing easily exploitable avenues into critical assets that modern security solutions struggle to adequately protect." In search of the bottom line here, we may need to realize that legacy software will always exist. When (or if) we do get to a point where all enterprise applications are cloud-native and therefore more continuously updateable, we may have already entered the age of quantum computing, so even freshly cut cloud code will start to smell like it's past sell-by date. Yes, there are legacy software issues, yes modern workflow technologies are more efficient, no, we can't replace all legacy software tomorrow, no, generation-Z software developers are unlikely to learn COBOL rather than Python, yes, we need to find ways to live in a diverse world of dynamic software that's still changing. That might ultimately be what a modern approach to legacy software ends up meaning.
Business Wire
11 minutes ago
- Business Wire
RPM Announces Strategic Acquisition of Ready Seal Inc.
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM) today announced the acquisition of Ready Seal Inc. (Ready Seal), a Texas-based manufacturer of premium exterior wood stains, for its Rust-Oleum business in the Consumer Group. Ready Seal's high performance and user-friendly 'Goof-Proof™' stain-and-sealer-in-one can be applied in hot or cold conditions, does not show lap marks, and does not require back brushing. Ready Seal generated calendar year 2024 sales of approximately $45 million. Terms of the transaction were not disclosed. This strategic acquisition strengthens Rust-Oleum's portfolio of exterior wood care products, a segment that continues to gain traction among professional contractors and DIY enthusiasts. Additionally, Rust-Oleum is positioned to leverage its sales force and distribution channels to accelerate sales of Ready Seal's products. 'We welcome Ready Seal's employees and easy to use 'Goof-Proof' products to RPM,' said Frank C. Sullivan, CEO of RPM. 'This acquisition strengthens our offerings in the attractive exterior wood care category and Rust-Oleum is well-positioned to leverage its competitive strengths to accelerate Ready Seal's growth.' About RPM International Inc. RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio of market-leading brands, including Rust-Oleum, DAP, The Pink Stuff, Zinsser, Varathane, DayGlo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces to infrastructure and precious landmarks, RPM's brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 17,200 individuals worldwide. Visit to learn more. About Rust-Oleum For more than a century, Rust-Oleum ® has been a global leader in manufacturing innovative coatings that empower do-it-yourselfers and professionals alike across categories including small project paints, cleaners, primers, automotive, industrial, high-performance coatings, wood care and abrasives. Its wide breadth of brands and products include such trusted names as Rust-Oleum ®, Stops Rust ®, Painter's Touch ®, Universal ®, EpoxyShield ®, Varathane ®, Zinsser ®, Watco ®, MultiSpec ®, X-I-M ®, The Pink Stuff ®, Krud Kutter ®, RockSolid ®, Ready Seal ®, Wipe New ®, Testors ®, Seal-Krete ®, Mean Green ®, Modern Masters ®, Moldex ®, Whink ®, Miracle Sealants ®, Roto-Rooter ®, Concrobium ®, and Gator ® Finishing Products. Visit for more information. Follow Rust-Oleum on LinkedIn, Pinterest, Facebook and Instagram. For more information, contact Matt Schlarb, Vice President – Investor Relations & Sustainability, at 330-220-6064 or mschlarb@ Forward-Looking Statements This press release contains 'forward-looking statements' relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global and regional markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the viability of banks and other financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas- and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) changes in global trade policies, including the adoption or expansion of tariffs and trade barriers; (h) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (i) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (j) the timing of and the realization of anticipated cost savings from restructuring initiatives, the ability to identify additional cost savings opportunities, and the risks of failing to meet any other objectives of our improvement plans; (k) risks related to the adequacy of our contingent liability reserves; (l) risks relating to a public health crisis similar to the Covid pandemic; (m) risks related to acts of war similar to the Russian invasion of Ukraine; (n) risks related to the transition or physical impacts of climate change and other natural disasters or meeting sustainability-related voluntary goals or regulatory requirements; (o) risks related to our or our third parties' use of technology including artificial intelligence, data breaches and data privacy violations; (p) the shift to remote work and online purchasing and the impact that has on residential and commercial real estate construction; and (q) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Form 10-K for the year ended May 31, 2024, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the filing date of this press release.
Business Wire
28 minutes ago
- Business Wire
BJ's Wholesale Club Plans New Location in Springfield, Massachusetts
MARLBOROUGH, Mass.--(BUSINESS WIRE)-- BJ's Wholesale Club (NYSE: BJ) announced today that it plans to open a new club in Springfield, Massachusetts later this year. The club, which will be located at 1655 Boston Road, will mark the Massachusetts-based company's first new location in its home state in thirteen years. BJ's Wholesale Club opened its doors in Medford, Mass. in 1984 and now operates 25 clubs and 20 gas stations throughout the state. BJ's Wholesale Club has announced plans for 25-30 new clubs over the next two fiscal years – including several locations in Texas. 'For more than 40 years BJ's has been delivering unbeatable value to families – and that all started right here in Massachusetts,' said Bob Eddy, Chairman and CEO, BJ's Wholesale Club. 'As we've become one of the largest companies based in Massachusetts, we're excited to continue growing in our own backyard – contributing to our communities and helping take care of the families who depend on us.' BJ's has a longstanding commitment to nourishing its communities. For over 15 years, it has worked with Feeding America and its network of food banks, providing more than 155 million meals for those in need. In Springfield, BJ's is partnering with The Food Bank of Western Massachusetts. Once open, the new club will donate produce, meat, dairy products and more each week. BJ's offers unmatched value on everyday essentials in a convenient one-stop shop. Members save on fresh foods, produce, full-service deli items, fresh bakery goods, household essentials, home décor, pet supplies, toys, consumer electronics and more. BJ's members love the true treasure-hunt shopping experience, finding new and exciting items with every visit. BJ's members can choose from several time-saving options whether shopping online or in-club. Curbside pick-up, in-club pick-up, same-day delivery * and standard delivery are available on while members shopping in-club can use ExpressPay ** through the BJ's mobile app to scan products as they shop and skip the checkout line. Additional member perks include: Unbeatable grocery store prices: Members can save up to 25% off grocery store prices every day A risk-free membership: Shoppers can try BJ's risk-free with the company's 100% money-back guaranteed membership BJ's coupons + manufacturers' coupons: Members can combine BJ's coupons with many manufacturers' coupons for maximum savings Shoppers can learn more about by visiting The new BJ's Wholesale Club in Springfield is expected to create between 100-150 jobs. Team member development and training are a central focus at BJ's Wholesale Club. Those interested in becoming a BJ's team member can visit for information on available opportunities. About BJ's Wholesale Club Holdings, Inc. BJ's Wholesale Club Holdings, Inc. (NYSE: BJ) is a leading operator of membership warehouse clubs focused on delivering significant value to its members and serving a shared purpose: 'We take care of the families who depend on us.' The company provides a wide assortment of fresh foods, produce, a full-service deli, fresh bakery, household essentials, various exclusive offerings, gas and more to deliver unbeatable value to smart-saving families. Headquartered in Marlborough, Massachusetts, the company pioneered the warehouse club model in New England in 1984 and currently operates 255 clubs and 190 BJ's Gas ® locations in 21 states. For more information, please visit us at or on Facebook, or Instagram. * Not available in all ZIP codes. Log in to your account to confirm availability. ** 30 item and $750 limit/transaction. No paper coupons. No gift card, alcohol, cigarette, propane, appliance, firework, tire, or security-protected item purchases.
