A key measure of bulk-shipping rates jumped to the highest level since December 2023, driven by rising demand for Capesize vessels along with tightening supply of ships that haul bulk commodities. The Baltic Dry Index surged 5.6% to 2,991 points on Wednesday, extending gains for a fourth session. The gauge tracks freight rates for Capesize, Panamax, and Supramax ships transporting raw materials su...
A key measure of bulk-shipping rates jumped to the highest level since December 2023, driven by rising demand for Capesize vessels along with tightening supply of ships that haul bulk commodities. The Baltic Dry Index surged 5.6% to 2,991 points on Wednesday, extending gains for a fourth session. The gauge tracks freight rates for Capesize, Panamax, and Supramax ships transporting raw materials such as iron ore, coal and grain. The Capesize market has “strengthened sharply over the past two weeks” on tightening ship availability in the Pacific, disruptions to iron ore exports from Brazil, and hedging of future freight rates, said Pranay Shukla, the head of dry bulk freight and commodities research at S&P Global Energy. Strong bulk commodity exports in April are expected to continue this month and into June, according to data from S&P Global Energy. The Capesize segment on the Baltic Dry Index accounts for about 40% of the gauge, and is the section most exposed to iron ore, used to make steel. The conflict in the Middle East has also played a part in higher rates. The Iran war has been a “volatility-driven accelerator, amplifying freight market moves and lifting sentiment,” according to shipbroker Ifchor Galbraiths. Iron ore futures in Singapore were little changed at $110.70 a ton as of 11:49 a.m. local time after rising 1.8% in the previous session to settle at the highest since October 2024. The move came as China returned from a holiday.
Midea Group plans to raise HK$17.2 billion (US$2.2 billion) from selling convertible bonds, as China’s biggest household appliances maker taps the debt market to expand its overseas business. The Guangdong province-based company would sell the bonds in two tranches at an amount of HK$8.62 billion for each, with the first one maturing in May 2027 and the second one due in May 2033, Midea said in a ...
Midea Group plans to raise HK$17.2 billion (US$2.2 billion) from selling convertible bonds, as China’s biggest household appliances maker taps the debt market to expand its overseas business. The Guangdong province-based company would sell the bonds in two tranches at an amount of HK$8.62 billion for each, with the first one maturing in May 2027 and the second one due in May 2033, Midea said in a statement to the Hong Kong exchange on Thursday. The bonds have zero coupon rates and do not bear...
Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid the Iran war-linked fuel crisis. Sultan Ibrahim landed at Vnukovo-2 International Airport at 4.20pm local time on Thursday, according to Malaysian reports, and was received by Russian Deputy Foreign Minister Andrey Rudenko, senior protocol ...
Malaysian King Sultan Ibrahim Iskandar arrived in Moscow on Thursday for a high-profile visit that comes as Kuala Lumpur looks for alternative oil sources amid the Iran war-linked fuel crisis. Sultan Ibrahim landed at Vnukovo-2 International Airport at 4.20pm local time on Thursday, according to Malaysian reports, and was received by Russian Deputy Foreign Minister Andrey Rudenko, senior protocol officials and Malaysia’s ambassador to Russia, Cheong Loon Lai. The king is attending Russia’s May 9...
Earnings Call Insights: Flutter Entertainment (FLUT) Q1 2026 Management view “I wanted to address the management changes we’ve announced today. Amy Howe will be leaving the business.” (CEO & Executive Director Jeremy Jackson) “Daniel Taylor’s track record of driving growth and executing on complex strategies, make him ideally suited for his expanded role.” (CEO & Executive Director Jackson) “These...
Earnings Call Insights: Flutter Entertainment (FLUT) Q1 2026 Management view “I wanted to address the management changes we’ve announced today. Amy Howe will be leaving the business.” (CEO & Executive Director Jeremy Jackson) “Daniel Taylor’s track record of driving growth and executing on complex strategies, make him ideally suited for his expanded role.” (CEO & Executive Director Jackson) “These changes will sharpen our focus on the U.S. sportsbook, strengthen the connection between our U.S. and international divisions and fully leverage the group’s expertise, capital and strategic ambition.” (CEO & Executive Director Jackson) “In the U.S., we saw encouraging signs in underlying growth in Q1. Overall, AMPs were 1% behind last year and revenue grew 6% with headline KPIs improving as the quarter progressed.” (CEO & Executive Director Jeremy Jackson) “In April, we began rolling out our sportsbook loyalty program, which has had a very positive response from the initial cohort of customers to gain access to the program.” (CEO & Executive Director Jackson) “We also launched Bet Protect+, an industry-first generosity mechanic... The initial response has been excellent, with adoption rates double our expectations and continuing to grow.” (CEO & Executive Director Jackson) “In iGaming, FanDuel delivered another strong growth quarter... with AMPs up 10%.” (CEO & Executive Director Jeremy Jackson) “Expansion of our direct casino player base coupled with improved frequency among higher-value cohorts drove revenue growth of 19% year-over-year.” (CEO & Executive Director Jackson) “At the start of April, we migrated PokerStars customers to the FanDuel platform, unlocking improved products and cross-state liquidity for poker customers.” (CEO & Executive Director Jackson) “We launched the FanDuel One App at the start of April, dynamically serving customers, sports betting and sportsbook space or prediction markets in non-sportsbook space.” (CEO & Executive Director Jeremy Jackson)...
(RTTNews) - Essential Utilities (WTRG) reported net income of $224.4 million and earnings per share of $0.79 for the first quarter of 2026, compared to $283.8 million and earnings per share of $1.03 for the same period in 2025. Non-GAAP EPS was $0.83, for the quarter.
(RTTNews) - Essential Utilities (WTRG) reported net income of $224.4 million and earnings per share of $0.79 for the first quarter of 2026, compared to $283.8 million and earnings per share of $1.03 for the same period in 2025. Non-GAAP EPS was $0.83, for the quarter.