SK Hynix shares slide by a daily record of around 19% in Seoul Wednesday, erasing early gains after the memory maker reported lower-than-expected operating profit for the second quarter and announced plans for higher spending. The company earmarked at least $31 billion in capital spending this year after reporting a six-fold surge in quarterly profit. Bloomberg's Anthony Stephens reports.
Standard Chartered Chief Executive Officer Bill Winters says the bank is happy with earnings as results beat expectations. "We feel very, very good about the momentum that we've got," he tells Bloomberg's Lizzy Burden. Winters speaks on Bloomberg Television after the London-based lender unveiled a fresh $1 billion share buyback, adding that Standard Chartered has a "strong capital position."
UBS Chief Executive Officer Sergio Ermotti says the integration of former rival Credit Suisse "is almost done." He also talks about the Zurich-based bank's announcement of a new $3 billion share buyback program to run until mid-2027, and how he expects "spikes of volatility" to continue in markets for the rest of the year. Ermotti speaks with Bloomberg's Guy Johnson.
Simon Trott, CEO of Rio Tinto, the world's second-largest miner by market capitalization, says iron ore demand remains resilient and stable. He speaks with Haidi Stroud-Watts and Paul Allen on "Insight with Haslinda Amin."
Deutsche Bank AG Chief Financial Officer Raja Akram says trading started "constructively" in July, continuing the momentum from the previous month. He tells Bloomberg's Oliver Crook the "pipelines look pretty full" both on the market side and on the investment banking side. Akram speaks on Bloomberg Television as the bank announced revenue from fixed-income trading jumped in the second quarter as the unit outperformed most of its US peers.
Deutsche Bank said second-quarter fixed-income trading revenue rose 16% from a year earlier to a record 2.6 billion, beating analyst estimates and outperforming most of its Wall Street peers. Speaking to Bloomberg Television's Oliver Crook, Chief Financial Officer Raja Akram said trading has continued that momentum into July, describing the start of the month as "constructive." He added that the "pipelines look pretty full" on both the markets and investment banking sides and said the bank will "comfortably" reach its full year revenue target and if things go well, it could be "potentially a little bit better".
The US said it intercepted an Iranian attack on military bases, ending a dayslong pause in fighting and increasing the risk of a return to full-blown war in the Middle East. Bloomberg's Abeer Abu Omar has the latest.
Craig Beattie, CFO of commerical property firm HongKong Land, discusses the company's 11% rise in underlying profit for the first six months of the year, and discusses its outlook and strategy for growth. He speaks exclusively with Haidi Stroud Watts on "Bloomberg: The Asia Trade".
Sanjeev Rana, head of research at CLSA Securities Korea, believes Hynix's earnings miss was the result of a weak product mix in the second quarter, and he expects "sequential earnings improvement." Meanwhile, KB Financial Group Global Investment Strategist Peter Kim shares his takes on the underlying trends driving the selloff in AI stocks.
As prediction market giants like Kalshi and Polymarket begin offering perpetual futures trading with CFTC approval, other investment platforms are looking to expand their offerings. CME Group is launching single-stock futures, allowing investors to hedge or speculate on more than 50 of the largest US companies. The contracts, offering leverage without the complexity of options, will be cash-settled on the closing price of the stocks they're tied to. FIA CEO Walt Lukken joins Bloomberg Businessweek Daily to discuss the launch of these investment products, why he says prediction market "disruption" is good for building out best regulatory practices for the industry, and more. Lukken speaks with Carol Massar and Tim Stenovec.
Brixmor Property Group reported upbeat second quarter sales this week, seeing strong leasing spreads, record small shop occupancy, and more. Analysts from Evercore ISI and Stifel raised their forecasts on the company after earnings results. CEO Brian Finnegan joins Bloomberg Businessweek Daily to discuss, saying consumer traffic remains high, up around 10% since pre-COVID, which equates to strong tenant growth as well. He also discusses the state of consumer spending, the benefits seen by Brixmor's open-air shopping center locations, and more. Finnegan speaks with Carol Massar and Tim Stenovec.
SK Hynix Inc.'s quarterly profit rose 557%, but missed expectations, fueling fears that an AI boom that has propelled the semiconductor industry may be decelerating. Bloomberg's Mark Cranfield and Anthony Stephens share their insights.
