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Baird Initiates Mobility Global at Neutral With $23 Price Target

Bank of Baroda's Total Business Rises 15.5% in Fiscal Q1

Bank of Baroda (NSE:BANKBARODA, BOM:532134) booked a 15.5% year-on-year increase in total business to 30.512 trillion Indian rupees in the fiscal first quarter ended June 30, from 26.427 trillion rupees a year earlier, according to a Thursday filing.Global advances in fiscal Q1 grew 17.4% year on year to 14.174 trillion rupees, while global deposits were up 13.8% to 16.338 trillion rupees, the filing said.Domestic deposits and advances were up 14.7% and 17.4%, respectively, to 13.818 trillion and 11.514 trillion.

BOM:532134NSE:BANKBARODA

Research34d ago

RBC Capital Initiates Public Service Enterprise Group With Sector Perform Rating, $81 Price Target

$PEG

Research34d ago

RBC Capital Initiates NiSource With Outperform Rating, $52 Price Target

$NI

Commodities34d ago

TotalEnergies Sells Minority Stake in Malaysia's Marjoram Gas Field to Inpex for $350 Million

French energy major TotalEnergies (TTE) has divested its minority interest in Malaysia's Marjoram gas field to Japanese peer Inpex for $350 million, according to a statement on Thursday.TotalEnergies has sold its 85% interest in Block 2E offshore Malaysia, which represents an 8.5% minority non-operated interest in the gas project now being developed, the French company said in a statement."Through this transaction, TotalEnergies crystallizes the full value of this minority interest in a non-operated gas project, to focus on its operated portfolio and strategic growth opportunities in Malaysia," it said.The transaction aligns with the company's strategy of actively managing its portfolio and prioritising material positions to support the development of low-cost, low-emission projects, said Nicolas Terraz, President of Exploration & Production.Malaysia serves as a strategic platform for the company's low-cost, low-emission growth strategy, with the Jerun field now on stream and amid a large portfolio of opportunities, Terraz said.TotalEnergies, which has been present in Malaysia since 1985, has operated and non-operated interests in 17 offshore blocks off the coast of Sarawak and Sabah.The company is the third-largest gas producer in the country and also markets petroleum products via its subsidiary TotalEnergies Marketing Malaysia, the statement said.In 2023, TotalEnergies entered into an agreement with Petronas and Mitsui for the development of a carbon-dioxide storage project in Southeast Asia and to review potential sites in the Malay Basin.In April this year, the company disclosed a $2.2 billion joint venture with Masdar for the acceleration of renewable energy in Asia, especially Malaysia, the statement said.

$TTE

US Markets34d ago

American Eagle Outfitters Names Papa John's Finance Chief as New CFO

American Eagle Outfitters (AEO) named Papa John's International (PZZA) Chief Financial Officer Ravi Thanawala as its finance chief, succeeding Mike Mathias, who will transition to a strategic advisory role.Thanawala will assume the role effective Aug. 3, the clothing retailer said late Wednesday. Mathias, who has served with the company for 25 years, will become a full-time non-executive strategic advisor to American Eagle Chief Executive Jay Schottenstein."We are pleased to welcome Ravi Thanawala to the executive team," Schottenstein said in a statement. "His extensive retail background, dynamic leadership style and proven track record of delivering operational excellence for consumer-facing brands will position us well for long-term success."Mathias will collaborate closely with Thanawala through the rest of American Eagle's 2026 fiscal year and continue supporting Schottenstein through July 30, 2027.Before joining Papa John's in 2023, Thanawala served as CFO of Nike (NKE) North America and previously held finance leadership positions at Converse and ANN. Thanawala also served as Papa John's interim CEO from March 2024 to August 2024.In a separate statement, Papa John's said Chris Collins, senior vice president of corporate finance, has been appointed interim chief financial officer, effective immediately.The pizza chain has begun a search for a permanent CFO, while Thanawala will remain in an advisory capacity through July 31 to support a smooth transition.Shares of Papa John's edged down 0.2% in the most recent premarket activity, while American Eagle declined 1%."Chris is a proven finance leader with deep knowledge of the company and the opportunities we are pursuing to maximize shareholder value," Papa John's CEO Todd Penegor said. "I am confident that Chris's support in this interim role along with our talented team will enable continued execution on our transformation priorities."Additionally, Marc Richard has assumed responsibility for all Papa John's North America operations, including those previously overseen by Thanawala in his role as President. Richard currently serves as senior vice president of North America operations.American Eagle also reiterated its second-quarter and full-year outlook issued in May. The guidance included mid-to-high-single-digit growth in comparable sales for the second quarter and a mid-single-digit increase for the metric in fiscal 2026."I am excited to partner with Jay and leadership to accelerate long-term strategic initiatives, maintain financial discipline and unlock new avenues for profitable growth that will help to maximize value for our shareholders," Thanawala said.

$AEO$NKE$PZZA

Asia Markets34d ago

Tech Caution Blunts Wall Street Pre-Bell; Asia Mixed, Europe Up

Wall Street futures pointed moderately lower pre-bell Thursday, as traders again weighed rich valuations in AI- and semiconductor-issues against rising tech sector capital spending.In the futures, the S&P 500 was off 0.1%, the Nasdaq declined 0.4%, but the Dow Jones was up 0.1%.Investors also await the June employment report from Washington, slated for an 8:30 am ET release. The private sector ADP employment report, out on Wednesday, indicated 98,000 net new jobs in June, a sign that the US economy has held firm through Middle East turmoil.West Texas Intermediate crude oil traded down 1.3% to $67.67 a barrel in morning action.Asian exchanges traded unevenly lower overnight, as AI and semiconductor issues took a hit. European bourses tracked moderately north at midday on the continent.On the economic calendar, in addition to the employment report, is the weekly jobless claims bulletin at 8:30 am ET, followed by the factory orders report for May at 10 am.The weekly EIA natural gas report logs at 10:30 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.San Francisco Federal Reserve President Mary Daly is slated to speak on Thursday.In pre-market action, Bitcoin traded at $61,203, and 10-year US Treasuries offered 4.50%. Spot gold commanded $4,065 an ounce.

Dow JonesNasdaq CompositeS&P 500

Asia34d ago

IPS Plans 23 Billion Yen Investment in Wakayama Cable Landing Station

IPS (TYO:4390) plans to invest 23 billion yen in a new Wakayama cable landing station and Candle branch connection, aiming to diversify Kansai's concentrated landing infrastructure.Operated by subsidiary IPS Pro, the project is expected to generate revenue through backhaul, colocation and related services, according to a Tokyo bourse filing on Thursday.A final investment decision is expected in the second quarter of the current fiscal year, subject to ongoing evaluations and partner discussions.

TYO:4390

Oil & Energy34d ago

Market Chatter: Kuwait Petroleum Seeks Bidder Consolidations for $7 Billion Kuwaiti Oil Pipeline Stake

Kuwait Petroleum has requested that global investment funds bidding for a $7 billion stake in its oil pipeline network form consortiums to consolidate competing bids, aiming to accommodate smaller investors with close ties to the state energy firm, Reuters reported Thursday, citing sources.The deal has drawn notable interest across the alternative asset management sector, with Blackstone (BX) also surfacing as a participant for the first time in the current multi-year wave of Middle Eastern national oil company asset sales.Blackstone joins a group of infrastructure heavyweights advancing to the next round of the competitive sale process, including Brookfield Asset Management (BAM), Apollo Global Management (APO), KKR (KKR), EIG Global Energy Partners, and BlackRock (BLK) alongside its newly integrated infrastructure division, Global Infrastructure Partners.Except for KKR, who declined to comment, none of the parties involved responded immediately to' request for comments.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$APO$BAM$BLK$BX$KKR

Mining & Metals34d ago

Denison Mines Says Peter Ballantyne Cree Nation Supports Wheeler River Project in Saskatchewan

Denison Mines (DML.TO) says Peter Ballantyne Cree Nation (PBCN) now supports the development and operation of the Wheeler River Project in northern Saskatchewan.PBCN has also withdrawn the judicial review application it previously filed with the Court of King's Bench for Saskatchewan for the Environmental Assessment approval for the Phoenix In-Situ Recovery (ISR) uranium mine, a statement said.

$DML.TO

Research34d ago

China Renaissance Downgrades Trip.com Group to Hold From Buy, Adjusts PT to $42 From $88

$TCOM

Research34d ago

Roth Capital Partners Initiates JFB Construction at Buy With $9 Price Target

$JFB

Equities34d ago

Genel Energy Mulls Tap Issue of Bond due 2030

Genel Energy (GENL.L) said Thursday it is considering a tap issue of its outstanding senior unsecured bond due April 2030, subject to market conditions.The UK-listed oil producer, which engaged Pareto Securities as manager and bookrunner, plans to use the proceeds for general corporate purposes.

$GENL.L

Asia34d ago

Kamgras 1 Extends Tender Offer Period for Kakaku.com to July 16

Kamgras 1 has extended its tender offer for Kakaku.com (TYO: 2371) for another 10 days until July 16, according to a Tokyo bourse filing.The extension aims to give shareholders and option holders more time to consider their participation.The minimum purchase condition remains 34.9 million shares or 17.51% ownership, but the settlement start date has been moved from July 9 to July 24.

TYO:2371

Commodities34d ago

France Expects Dip in Natural Gas Residential Consumers Through 2050

France expects a reduction in network-served natural gas residential consumers by 2050, prompting the national energy regulator to consider how a smaller customer base can fund maintenance and infrastructure removal, in a new report published on Wednesday.The Energy Regulation Commission, or CRE, found in a 2023 study that the network size would need to remain roughly the same by mid-century but that maintenance costs would not fall as fast as revenue losses as more customers disconnect.In the updated study, it said that even under a scenario where it has decided to reduce the size of the natural gas network, with electrification a key driver, network reduction would still fail to align costs with revenues, given the dismantling costs involved.The CRE estimates that under a moderate customer base shrinkage by 2050, average network tariffs, that make up about a third of a household gas bill, would rise 0.2% to 1.4% above inflation by then.Under a rapid shrinkage scenario, the network tariff could rise 3.5% above inflation each year by 2050, it said, noting that it was refraining from making any comment on which scenario looks most probable.While the report focused on the likelihood of network size reduction and decline, the CRE noted that it expects the network to be carrying more renewable and low-carbon gas by 2050.In consultation with operators, European regulators, utilities and consumer organizations, the CRE said it has sought to define measures that would make necessary adjustments bearable.It says that ensuring the sector continues to incentivize operators to provide a quality service is a must and that regulatory frameworks ensure there are incentives to guarantee network safety in a shrinkage phase.Contemplating how to spread the cost burdens of network resizing between current and future consumers, the CRE said that complementary measures for financing infrastructure costs in the long term should also be considered.Direct state financing of the costs or additional contributions from utilities should also be considered. Some state subvention of costs may also be necessary to protect consumers, the CRE said.

Research34d ago

KeyBanc Initiates Kimball Electronics at Sector Weight

$KE

Asia34d ago

Dentsu Says No Decision on Reported Dentsu Soken Privatization

Dentsu Group (TYO:4324) has made no announcements regarding its domestic management strategy involving group company Dentsu Soken.Responding to a Nikkei report, the advertising company said Thursday it was considering a range of options, including the privatization of Dentsu Soken, but has no information to disclose at this time.

TYO:4324

Asia34d ago

Update: Chubu Electric Says to Continue Working With Japan Authority as Probe Alleges Earthquake Data Manipulation

(Updates throughout to add more details and a statement from Chubu Electric)Chubu Electric Power (TYO:9502) will continue to work with the Nuclear Regulation Authority over the Japanese regulator's ongoing probe and findings that the company was engaged in and continues to do so in earthquake data manipulation.The Thursday statement sent towas in response to a request for comment on a Wednesday report from The Asahi Shimbun. The article about the NRA's regular meeting on the Hamaoka nuclear plant quoted NRA Chair Shinsuke Yamanaka as flagging "a collective loss of engineers' sense of ethics" at Chubu Electric."During the report, an explanation was provided regarding the fact that, after our company was contacted by the Nuclear Regulation Authority Secretariat in May of last year with a request for an investigation related to the establishment of the design basis earthquake ground motion, we had recombined seismic waves for certain earthquakes used in the study, excluding the representative wave," Chubu Electric said. "We take this Conduct in Question extremely seriously and would like to once again express our sincerest and deepest apologies."

TYO:9502

Asia34d ago

China Power International to Provide EPC Services in 220 Million Yuan Deal

Two units of China Power International Development (HKG:2380) will provide engineering, procurement and construction services to Shandong Electric Power Engineering Consulting Institute for 219.9 million yuan.SPIC Yuanda Environmental Protection Engineering and SPIC Waterworks will offer survey design, equipment procurement, construction and installation, and other technical support services for the construction of a desulfurization system for a coal-fired power generating project, according to a Thursday filing in Hong Kong.

HKG:2380

Commodities34d ago

Malaysia Fuel Subsidy Bill May Reportedly Reach $9.8 Billion on Strong Energy Prices

Malaysia's spending on fuel subsidies could reportedly hit 40 billion Malaysian ringgit ($9.84 billion) this year due to higher energy prices, more than double the annual budget of 15 billion ringgit, according to media outlets on Wednesday, citing Prime Minister Anwar Ibrahim.Following the onset of the US-Iran war in late February, fuel subsidies reportedly climbed to about 5 billion ringgit per month in March and April, from around 800 million ringgit per month in January and February.Eligible Malaysians can buy RON 95 petrol and diesel at subsidized prices of 1.99 ringgit per liter and 2.10 ringgit per liter, respectively.The prime minister reportedly said fuel supplies in the country are currently sufficient.has reached out to the prime minister's office to seek further information about the projected spending as prices return to pre-war levels.

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US Markets34d ago

American Eagle Outfitters Names Papa John's Finance Chief as New CFO

$AEO$NKE$PZZA