The Progressive Corporation (PGR) on Wednesday reported net income of $1.445 billion or $2.47 per share for May 2026, up 36% from $1.065 billion or $1.81 per share in the prior-year period. Net premiums earned increased 10% to $7.361 billion. The insurer's combined ratio improved to 82.1 from 86.9. PGR...
Wednesday, Jazz Pharmaceuticals plc (JAZZ) announced a collaboration with AbCellera Biologics Inc. (ABCL) to discover and develop next-generation T-cell engaging multispecific antibodies. The preclinical research collaboration, option and license agreement will leverage AbCellera's antibody discovery...
U.S. private equity firm KKR & Co. Inc. (KKR) on Wednesday announced that it would commit $1.4 billion of equity to expand its aircraft leasing portfolio in partnership with Altavair, its third such deal with the commercial aviation lessor. The investment will primarily come from KKR's Infrastructure...
Sernova Biotherapeutics, Inc. (SVA.TO), a regenerative medicine company, announced Wednesday that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation for autologous islet transplantation (AIT) for the prevention of diabetes due to total pancreatectomy. Sernovas proprietary...
Adaptive Biotechnologies Corporation (ADPT) on Wednesday said it has priced an upsized private offering of $300 million of 0% convertible senior notes due 2031. The offering, increased from the previously announced $250 million, is expected to close on June 22, 2026. The company also granted the...
Accenture Plc (ACN) on Wednesday announced an agreement to acquire Alfahealth, a subsidiary of Engineering Group, for undisclosed consideration. The transaction is subject to customary closing conditions. The acquisition is expected to strengthen Accenture's healthcare capabilities in Italy by...
Uber Technologies, Inc. (UBER) and autonomous driving technology company WeRide Inc. (WRD) on Wednesday said they plan to launch Robotaxi services in the Greater Zurich region later this year, marking their second joint deployment in Europe after recently announcing a service in Madrid. WeRide said...
Rivian Automotive Inc. (RIVN) said it is laying off hundreds of employees, representing less than 2% of its workforce, as the electric vehicle maker seeks to improve profitability. The layoffs, first reported by The Wall Street Journal, affect certain teams in the service and customer operations segments....
Aegon Ltd. (AGN.AS, AEG) on Wednesday announced that the President and Chief Executive Officer of Transamerica, Will Fuller, will be appointed President and Chief Operating Officer of the company effective January 1, 2027. The company has also selected New York City as the location for its future...
Lundin Mining Corporation (LUN.TO, LMC, LUMI.ST) said its 2026 production guidance remains unchanged and, based on the mid-point of the production guidance and on the forecast copper price of $5.50/lb copper and forecast gold price of $4,000/oz, revenue for 2026 is expected to be approximately $4.5 billion...
Fletcher Building (FBU.AX, FBU.NZ) said its fiscal 2026 performance has been relatively stable and EBIT is expected to be between NZ$375 million and NZ$380 million, excluding discontinued items, and including approximately NZ$40 million of property-related earnings. The Group said rising fuel costs and...
AutoZone, Inc. (AZO), a retailer of aftermarket automotive parts and accessories, said on Wednesday that its Board of Directors has authorized an additional $1.5 billion under the company's ongoing share repurchase program. Including this latest authorization, the Board has approved a total of $42.2...
German automajor BMW Group (BMW.L, BAMXF.PK, BAMXY.PK) announced that it has trimmed fiscal 2026 outlook, mainly citing negative development in China, impact of conflict in Middle East, and a one-time charge due to intensified and accelerated structural and efficiency measures. The company added that...
Lockheed Martin Corp. (LMT), on Tuesday announced a collaboration with GM Defense to strengthen America's manufacturing and defense industrial base under a memorandum of understanding facilitated by the U.S. Department of War. The companies will explore ways to speed up defense equipment production...
Tuesday, Moderna, Inc. (MRNA) announced several significant changes to its operating model to support its short- and long-term business goals to become a diversified, multi-modality biotechnology company. As part of the move, the company plans the potential launch of up to three new products in 2027...
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.