Sompo Holdings, a leading global insurance provider, is undergoing a significant transformation under. CNBC’s Christine Tan sat down with Group CEO Mikio Okumura in this episode of “Managing Asia.”Sompo Holdings, a leading global insurance provider, is undergoing a significant transformation under Group CEO Mikio Okumura.The company, with operations in 28 countries, has restructured into two main segments: Sompo Property and Casualty (P&C) and Sompo Wellbeing.”The integration between Sompo Japan, Sompo International, we hope they can improve resilience. They can utilize balance sheets wisely, so they can improve risk-taking capability,” Okumura told CNBC’s Christine Tan in the latest episode of Managing…
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There are “no quick fixes” to Tesla’s problems, according to HSBC. Analyst Michael Tyndall reduced his price target on shares by $35 to $130. His new forecast suggests 52.2% downside potential for the stock from Wednesday’s close. “The seeds for the current sales weakness pre-date the recent brand issues,” Tyndall, who has a reduce rating on the stock, wrote in a note to clients Thursday. Tesla’s aging products with limited driving assistance technology have pressured the company in the China market, according to Tyndall. Meanwhile, the electric vehicle maker has struggled with European fleet buyers, which constitute 60% of the…
U.S. President Donald Trump’s tariff policies are making the path ahead for European Central Bank interest rates “more complicated,” according to Pierre Wunsch, member of the ECB’s Governing Council.”We were going in the right direction. And I was actually quite relaxed,” he told CNBC’s Karen Tso on Thursday on the sidelines of the IIF Europe Summit in Brussels.”If we forget tariffs …. we were going in the right direction. Then the question was more a question of fine tuning of the pace of cuts and where we land,” Wunsch said. “I was like, you know, inflation might be the boring…
South Sudan’s Vice President Riek Machar has been arrested, according to his party, amid escalating tensions in the world’s youngest country that the United Nations warned could blow up a fragile peace deal and has pushed the country back to the brink of civil war.Mr. Machar was detained late on Wednesday by the National Security Service, his acting press secretary, Puok Both Baluang, said. The Sudan People’s Liberation Movement In Opposition, Mr. Machar’s political party, said the country’s defense minister and the chief of national security “forcefully entered” Mr. Machar’s residence alongside an armed convoy, disarmed his bodyguards and “delivered…
AMD could be in trouble, according to Jefferies. The firm downgraded the chipmaker to hold from buy. Its new price target of $120, down from $135, implies shares adding just 8.9% from Wednesday’s close. Analyst Blayne Curtis cited intensifying competition from Intel as well as results from a Jefferies benchmarking study that indicate AMD’s graphics processing units significantly underperformed Nvidia’s throughout various open-source models. Intel’s incoming CEO will likely make the company more flexible on strategy that will result in the company producing “fairly competitive chips” starting next year, according to Curtis making the company more competitive versus AMD. AMD…
U.S. President Donald Trump shows a signed document in the Oval Office at the White House in Washington, D.C., U.S., March 26, 2025. Evelyn Hockstein | Reuters Another day, another tariff development from the Trump administration. In his latest move in the global trade war, U.S. President Donald Trump has announced a 25% tariff on “all cars not made in the U.S.,” rattling auto stocks. This would be in addition to any existing duties. The announcement comes ahead of Trump’s “liberation day” on April 2, which was originally envisioned as the day the U.S. would slap reciprocal tariffs, while also imposing duties in response…
A Volkswagen (VW) Passat R car (L) and a Golf GTI car are pictured in the tower storage facility of German carmaker Volkswagen at the company’s headquarters in Wolfsburg, central Germany, on March 11, 2025.Ronny Hartmann | Afp | Getty ImagesGermany’s economy minister and auto industry lambasted U.S. President Donald Trump’s plans to impose sweeping 25% tariffs on U.S. car imports, saying the move sends a “fatal signal” to free and rules-based trade.Trump on Wednesday said he would implement tariffs on all vehicles and foreign-made auto parts imported into the U.S., as part of measures set to come into force…
President Trump’s unexpected plan to impose a 25 percent tariff on cars and car parts being imported into the United States will not only disrupt supply chains. It will also fuel anger, alienation — and pressure to retaliate — among American allies across the globe.Many of the countries most affected by the new levies, such as South Korea, Japan, Germany, Mexico and Canada, are already reeling from the Trump team’s wanton disregard for free trade deals already signed, and erratic threats to long-established security relationships.Prime Minister Mark Carney of Canada said on Wednesday that Trump’s move was “a direct attack.”…
U.S. President Donald Trump speaks to the media in the Oval Office at the White House in Washington, D.C., U.S., March 26, 2025.Evelyn Hockstein | ReutersU.S. President Donald Trump threatened to impose “far larger” tariffs on the European Union (EU) and Canada if they work together to combat trade tariffs.”If the European Union works with Canada in order to do economic harm to the USA, large scale Tariffs, far larger than currently planned, will be placed on them both in order to protect the best friend that each of those two countries has ever had!,” Trump said in a Truth…
H&M on Thursday posted weaker than expected first-quarter sales in a slow start to the year for the world’s second-largest clothing retailer. Source link
