Former Sinochem vice general manager arrested and indicted Feng Zhibin, a former vice general manager of China’s state-owned chemical giant Sinochem Group, has been arrested and indicted on charges of suspected bribery, utilizing influence for bribery, and abuse of power by state-owned company personnel, the Supreme People’s Procuratorate said on Wednesday. Chinese chemical stocks surge after miss...
Former Sinochem vice general manager arrested and indicted Feng Zhibin, a former vice general manager of China’s state-owned chemical giant Sinochem Group, has been arrested and indicted on charges of suspected bribery, utilizing influence for bribery, and abuse of power by state-owned company personnel, the Supreme People’s Procuratorate said on Wednesday. Chinese chemical stocks surge after missile attack on Saudi industrial hub
Yvette Cooper, UK foreign secretary, delivers the opening remarks as she chairs a virtual meeting to discuss the re-opening of the Strait of Hormuz, in London, UK, on Thursday, April 2, 2026. Bloomberg | Bloomberg | Getty Images U.K. Foreign Minister Yvette Cooper is expected to call for unhindered access through the Strait of Hormuz on Thursday, countering a push by Iran to control one of the wor...
Yvette Cooper, UK foreign secretary, delivers the opening remarks as she chairs a virtual meeting to discuss the re-opening of the Strait of Hormuz, in London, UK, on Thursday, April 2, 2026. Bloomberg | Bloomberg | Getty Images U.K. Foreign Minister Yvette Cooper is expected to call for unhindered access through the Strait of Hormuz on Thursday, countering a push by Iran to control one of the world's most important oil chokepoints. In an annual foreign policy speech, Cooper is expected to say shipping must be toll-free through the Strait of Hormuz , which has effectively been blocked by Iran since the start of the war. "The fundamental freedoms of the seas must not be unilaterally withdrawn or sold off to individual bidders. Nor can there be any place for tolls on an international waterway," Cooper will say at Mansion House in London later this evening, according to advance extracts of her speech. Iran has said it wants to charge ships to pass through the Strait of Hormuz, with the Financial Times reporting on Wednesday that Tehran is planning to charge shipping firms in cryptocurrency for their oil tankers to pass through the waterway. The Strait of Hormuz is a narrow maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through the Strait. Britain's Cooper is also expected to push for Lebanon to be included in the two-week ceasefire agreed between the U.S. and Iran on Tuesday. "The ceasefire agreement between the US, Israel and Iran is welcome. It is a vital step towards bringing security and stability to the region, and to easing the pressures on the global economy and the cost of living here at home," Cooper will say. "There is considerable work to do, and we support the negotiations: they must make progress; there must be no return to conflict; Lebanon must be included in the ceasefire; there must be no further threat from Iran to its neighbors; and crucially the Strait of Hormuz must be fully...
Kia Corp. will begin using humanoid robots in its US factories from 2029 and is developing its first software-defined vehicle as the South Korean carmaker ramps up investment in new-generation cars and manufacturing technology to better compete with global rivals. The affiliate of Hyundai Motor Co. plans to complete development of its first software-defined vehicle by the end of 2027, it said Thur...
Kia Corp. will begin using humanoid robots in its US factories from 2029 and is developing its first software-defined vehicle as the South Korean carmaker ramps up investment in new-generation cars and manufacturing technology to better compete with global rivals. The affiliate of Hyundai Motor Co. plans to complete development of its first software-defined vehicle by the end of 2027, it said Thursday in its 2030 strategy. The car will have Level 2 driving automation capability that allows it to operate on highways, with Kia planning to launch a more advanced version capable of operating on regular roads in early 2029. Meanwhile, Kia also said it will deploy the Atlas robot, developed by Hyundai’s Boston Dynamics unit, at its Georgia facility in 2029. Initially, the robot will take on simple manufacturing tasks to improve safety and productivity, before using AI learning to expand into higher-value processes. Read More: Rise of Robots Pits Hyundai’s Atlas Against Musk’s Optimus Carmakers are increasingly looking to software — in-car infotainment, advanced-driving assistance and over-the-air updates to improve performance — as well as manufacturing efficiency to help them weather an uncertain consumer outlook, particularly for electric cars. Software-defined vehicles are a rapidly growing part of the auto market. The sector is worth around $250 billion to $300 billion, with the potential to exceed $1 trillion over the next decade, KPMG wrote in a report in February, citing industry estimates. For Kia, the SDV transition will allow the company to generate continuous revenue throughout a vehicle’s lifespan via software subscriptions, significantly increasing per-unit profitability and lowering repair-related costs, said Samsung Securities Co. analyst Esther Yim . Read More: Kia Says US Tariffs Cost $2.3 Billion Last Year as Profit Drops Kia will invest more than $500 million to strengthen its physical AI capabilities and vision-language-action models, as well as deepen...
Phiwath Jittamas/iStock via Getty Images The US pet insurance market once again expanded by more than 10% in 2025, a feat that it has achieved every year since at least 2018. The market recorded an 11% year-over-year increase in net premiums earned last year, rising to an industry record $3.59 billion, according to an analysis by S&P Global Market Intelligence. That said, the 2025 total reflects a...
Phiwath Jittamas/iStock via Getty Images The US pet insurance market once again expanded by more than 10% in 2025, a feat that it has achieved every year since at least 2018. The market recorded an 11% year-over-year increase in net premiums earned last year, rising to an industry record $3.59 billion, according to an analysis by S&P Global Market Intelligence. That said, the 2025 total reflects a slowdown in the pace of growth from the prior year when net premiums earned soared 26.6% to $3.23 billion in 2024. The pet insurance industry's net loss ratio, which has remained almost flat since 2017, improved modestly to 74.2% in 2025 from 76.1% in the prior year. Pet insurance was broken out as its own business line for the first time in statutory filings for 2024 following changes made by the National Association of Insurance Commissioners, making availability of the data relatively new. US pet insurance annual net premiums earned since 2017 Top of the list A majority of the biggest pet insurers in the US also saw double-digit increases in direct premiums written in 2025. Trupanion Inc. ( TRUP ) was the top underwriter of pet insurance business in the US in 2025, as it recorded $1.22 billion in direct premiums written. That was up about 11.7% from $1.09 billion in direct premiums written in 2024. The leading pet insurer also booked a direct incurred net loss ratio of 69.8%. Nationwide Insurance Co.'s direct premiums written declined by about 6.4%, falling to $956.3 million in 2025 from $1.02 billion in 2024. Nationwide, which still ranked as the second-largest underwriter of pet insurance last year, has been pulling back its presence in the business line. JAB Holdings BV ranked third, but recorded the largest year-over-year increase in direct pet insurance premiums written at 79.9%. Lemonade Inc. ( LMND ) also reported significant growth with $441.2 million in 2025 direct premiums, up 54.7% from $285.2 million a year earlier. Historical industrywide pet insurance data...