Alibaba's Net Profit Surged in First Quarter on Higher Revenue
Chinese e-commerce giant Alibaba Group Holding posted a 51% on-year increase in first-quarter net profit, driven by higher revenue. #press
Natural-Gas Prices Soar on Australian Labor Dispute
Most of Australia’s supply is committed to Asia, so a sudden drop in LNG exports could push European and Asian buyers into a bidding war for gas from elsewhere, including from the U.S. #press
Biotech M&A Rebound Bodes Well for Venture Investors
Regulatory scrutiny of acquisitions could slow momentum. #press
Lyft to Expand Its Ad Business as New CEO Eyes a Turnaround
The ride-sharing company and its larger rival, Uber, are racing to build significant ad operations. #press
Social Security Benefits Will Go Up Next Year, but Not by a Lot
After rising 8.7% in 2023 thanks to surging inflation, monthly checks are expected to increase about 3% in 2024. #press
Colleges Spend Like There's No Tomorrow. 'These Places Are Just Devouring Money.'
Students foot the bill for flagship state universities that pour money into new buildings and programs with little pushback. #press
Some 911 Call Centers Still Haven't Adapted to the Cellphone
Nationwide, a number of 911 centers struggle to locate cellphone callers and can’t receive texts or photos, as the systems continue to rely on decades-old legacy phone lines. #press
'It's Hard to Be an Activist These Days': Gadfly Investors Trail Stock-Market Returns
So-called activist shareholders are up about 14% through July, according to HFR, lagging behind the S&P 500’s gains. #press
Pro Golf Is Flush With Cash. So Why Aren't There More Toilets?
The PGA Tour is facing a tense moment after its recent deal with LIV Golf’s Saudi backers. One star raised another urgent issue: the lack of bathrooms on every hole. #press
Maui Wildfires Leave at Least 36 Dead
At least 36 people have been killed as a result of the wildfires that have torn through Maui, fanned by hurricane winds. #press
https://www.wsj.com/articles/maui-wildfires-leave-at-least-36-dead-6e07f2b7?utm_source=press.coop
European Natural Gas Prices Drop After Surge
European natural gas prices weakened after having closed up over 28% on Wednesday, highlighting how volatile the market is to supply disruption. #press
Dow Futures Gain Ahead of Inflation Data
Stock futures gained ahead of the release of July’s consumer-price index, due this morning. #press
Kim Yo Jong: What We Know About Kim Jong Un's Sister and Her Role in North Korea
The dictator’s sister has star power, a rising political profile and is called the country’s de facto No. 2. #press
https://www.wsj.com/articles/kim-jong-un-sister-kim-yo-jong-11607524273?utm_source=press.coop
Deliveroo Ups Guidance, Boosts Shareholder Returns
Deliveroo raised its adjusted underlying earnings outlook to between £60-£80 million for the year, and said it will return an extra £250 million to shareholders, after it reported a swing to profit for the first half. #press
Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
Governments in Portugal and elsewhere on the continent want a secure supply of critical minerals to power the green transition, but opposition is often strong. #press
Persimmon Reports Revenue Beat
Persimmon reported first-half revenue of £1.2 billion, ahead of consensus, and said it expects to complete at least 9,000 home sales this year. #press
Novo Nordisk Raises Guidance on Surging Demand
Novo Nordisk now expects 2023 sales growth of 27%-33% and operating profit growth of 31%-37%, as demand for its Ozempic diabetes drug and Wegovy obesity treatment continued to rise. #press
Henkel Raises Full-Year Outlook on Higher Earnings
Henkel now sees full-year sales growth of between 2.5% and 4.5% organically and adjusted underlying earnings margin of between 11% and 12.5% after sales and earnings increased in the first half. #press
Rheinmetall Backs Views as Orders Roll In
Rheinmetall confirmed its guidance for the year after it posted second-quarter results mostly in line with views and as orders continued to roll in in a defence landscape altered by Russia’s invasion of Ukraine. #press
Allianz Backs Operating Profit View
Allianz reported an operating profit of €3.8 in the second quarter, and reaffirmed its full-year view, as strength in its property-and-casualty segment offset subdued performance in asset management. #press