Bunge beats quarterly profit estimates
The company posted an adjusted profit of $1.31 per share for the three months ended June 30, compared with analysts' average estimate of $1.14, according to data compiled by LSEG.
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Times
20 minutes ago
- Times
British Airways owner's profits soar after strong customer demand
British Airways owner IAG has beaten profit expectations amid persistently strong passenger demand and lower fuel costs, despite taking a big hit from Heathrow's one-day closure in March. The airline group, which also owns Vueling, Iberia and Aer Lingus, reported a more than third increase in second-quarter operating profit to €1.7 billion in the three months ended June 30, well ahead of City forecasts of €1.4 billion. Total revenue increased 6.8 per cent to €8.8 billion, driven by a 4.9 per cent rise in passenger revenue to €7.8 billion year-on-year. A bumper performance came despite the group booking a €50 million hit from the closure of Heathrow after the North Hyde substation fire in March. 'We continue to benefit from the trend of a structural shift in consumer spending towards travel,' Luis Gallego, chief executive, said on Friday. Gallego said the results gave him confidence that the FTSE 100 group would be able to create value for 'shareholders through our sustainable dividend and share buyback'. IAG brought back dividends for the first time since the pandemic last year amid a long-running boom in travel demand. It will provide an update for investors on payouts in November. Shares in the group have risen more than 130 per cent over the past 12 months. Before the results, analysts had been concerned about a number of geopolitical and macroeconomic headwinds, including jet fuel prices in the wake of Israel's conflict with Iran and the impact of President Trump's tariffs on consumer spending. IAG said the group's airlines had 'all benefited' from lower fuel prices. Fuel costs this year were down €291 million, or 7.6 per cent year-on-year, driven by lower prices and only partially offset by increased flying volumes. IAG said on Friday it had seen strong demand across its core markets in Europe, Latin America and the North Atlantic. It did, however, note some 'softness' in US economy bookings, a warning that sent shares down by about 1.4 per cent amid investor concern over the impact of Trump's trade policy and a more hostile US border on transatlantic travel. IAG said it had partially mitigated tempered US economy bookings via strength in its premium cabin offering, as capacity across the North Atlantic grew by 1.1 per cent over the half year. In May the European Travel Commission warned of 'heightened uncertainty' in the transatlantic market. Trips between the UK and US have remained broadly level this year at Heathrow, British Airways' primary hub, at 9.7 million, although there was a slight dip before the summer. Globally, half-year passenger numbers declined slightly, by 0.7 per cent to 57.8 million, although this was against a record year of demand in 2024. The company recently announced a multibillion-pound order for 53 intercontinental aircraft from Boeing and Airbus as the post-pandemic travel boom shows little sign of a tail-off. IAG's interim results were published hours after Heathrow submitted its long-awaited plans for a third runway, as part of a £50 billion investment in expanding its infrastructure. The hub's main airlines, which include British Airways and Virgin Atlantic, are generally supportive of growing the UK's biggest airport. However, they have backed alternative proposals from the billionaire property developer Surinder Arora for a shorter, 2,800m third strip. The airport's plan, which is entirely privately funded, includes a contentious proposal to divert a huge section of the M25 through a tunnel under the new runway.
The Guardian
an hour ago
- The Guardian
Trump steps up attacks on Fed's independence amid interest rates row
Donald Trump called on top Federal Reserve officials to seize control from its chair, Jerome Powell, if he fails to cut interest rates, stepping up his extraordinary attacks on the central bank's independence. The US president called Powell 'a stubborn MORON' in a series of critical social media posts on Friday, days after the Fed held rates steady for the fifth consecutive time. It comes as Trump faces heightened questions over the impact of his aggressive economic policy, and the White House presses forward with plans for a fresh wave of tariffs next week. Hours before the federal government released data which underlined a significant deterioration in the jobs market, Trump again broke with precedent to pin blame on the Fed – and urge it to change course. 'Jerome 'Too Late' Powell, a stubborn MORON, must substantially lower interest rates, NOW,' Trump wrote on Truth Social, his social network. 'IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!' The Fed chair does not unilaterally set interest rates, which are decided by its rate-setting Federal Open Market Committee. Presidents typically respect its independence, leaving the central bank to make an objective decision – without political interference – about the best policy on interest rates for the US economy. 'Too Little, Too Late. Jerome 'Too Late' Powell is a disaster,' Trump wrote, minutes after Friday's lackluster jobs report. 'DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!' Powell has repeatedly argued that the best approach for the Fed right now is to wait and see the impact of Trump's aggressive tariff strategy before cutting rates. But Trump has increasingly used the Powell, whom he appointed during his first term, as something of a piñata – repeatedly accusing him of damaging the US economy. Two members of the Fed's rate-setting committee dissented from its other policymakers' call to hold rates steady this week, and – to the president's delight – published their reasons on Friday. 'STRONG DISSENTS ON FED BOARD,' Trump wrote, claiming: 'IT WILL ONLY GET STRONGER!' By Friday evening, however, Trump's tone appeared to have changed as he told Newsmax during an interview that Powell will 'most likely' stay in his position. Trump said he would remove Powell 'in a heartbeat' and said the Fed's interest rate was too high but added that others have said Powell's removal would 'disturb the market'. 'He gets out in seven or eight months and I'll put somebody else in,' Trump said. On Friday afternoon, another member of the committee abruptly resigned. Adriana D Kugler, whose term was set to expire in January, announced she would step down next week. She did not provide a reason for the move, and will return to Georgetown University as a professor in the fall. 'I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market,' Kugler said in a statement. Her resignation creates a vacancy for the White House to fill. Reuters contributed reporting
Geeky Gadgets
2 hours ago
- Geeky Gadgets
Create Stunning Presentations in Minutes with NotebookLM's New Features
What if you could transform hours of research and preparation into a polished, professional-grade presentation in just minutes? With NotebookLM's latest upgrade, that bold vision is now a reality. The platform has introduced a new feature: video overviews that allow users to create dynamic, tailored presentations directly from their research materials. Combined with a sleek new interface and enhanced content management tools, this update is poised to transform how professionals, educators, and creators tackle their most complex projects. Whether you're a marketer looking to captivate your audience or a researcher juggling dozens of sources, NotebookLM's innovations promise to make your workflow faster, smarter, and more impactful. Skill Leap AI explain how these updates—especially the innovative video overview tool—can elevate your productivity and creativity. From integrating diverse content types like PDFs and YouTube videos to using AI for personalized audio insights, NotebookLM is redefining what it means to manage and present information. But that's just the beginning. How does this new functionality reshape the way we think about research and communication? And what does it mean for the future of digital collaboration? Let's unpack the possibilities and see how this upgrade could change the way you work, think, and create. NotebookLM Just Got a Major Upgrade Streamlined User Interface for Effortless Navigation One of the most noticeable changes is the revamped user interface, which prioritizes simplicity and efficiency. The addition of a new 'studio tab' introduces a cleaner, more intuitive layout that enhances navigation. Whether you're creating notebooks, exploring features, or managing intricate projects, the updated design ensures that every tool is easily accessible. This focus on usability minimizes distractions and allows you to work with greater precision and speed. By reducing the time spent searching for tools, the interface enables you to focus entirely on your tasks. Centralized Content Management with Enhanced Notebooks NotebookLM's core notebook feature has been significantly upgraded to support a wider range of content types and sources. Users with free accounts can now integrate up to 50 sources, while paid subscribers can manage up to 300. Supported formats include PDFs, YouTube videos, and other digital materials, allowing you to centralize all your research in one location. This centralized approach is particularly beneficial for managing complex projects, as it allows seamless organization and retrieval of information. By consolidating diverse content types, NotebookLM ensures that your research process is both efficient and comprehensive. How to Use NotebookLM's Video Overview Tool Watch this video on YouTube. Discover other guides from our vast content that could be of interest on AI presentations. Video Overviews: Transforming Presentations The introduction of video overviews is one of the platform's most fantastic updates. This feature allows you to create professional-grade video presentations that incorporate slides, graphics, and structured content derived from your selected sources. Customization options enable you to tailor these videos to specific audiences, making sure they align with your objectives. For example, a marketing professional can emphasize key insights and adjust visuals to resonate with their team. This tool not only saves time but also improves the quality and impact of your presentations, making them more engaging and effective. Enhanced Audio Tools: AI-Powered Podcasts NotebookLM has also enhanced its audio generation capabilities, offering improved quality for AI-generated podcasts. A new interactive mode allows users to engage directly with the AI podcaster by asking questions, creating a dynamic and personalized listening experience. This feature is particularly valuable for professionals who need quick, accurate insights while multitasking or on the go. By combining convenience with high-quality audio, NotebookLM provides a more engaging way to consume information, catering to the needs of busy users. Discover Tab: Simplifying the Research Process Research often consumes a significant portion of time in any project. The new 'Discover Tab' addresses this challenge by allowing users to find and add sources directly within the platform. This eliminates the need to switch between multiple tools, streamlining the research process and allowing you to focus more on analysis and content creation. By integrating this feature, NotebookLM reduces the time spent gathering information, helping you work more efficiently and effectively. AI in Marketing: Automation Meets Personalization NotebookLM uses AI technology to transform marketing strategies by automating tasks and enhancing personalization. The platform's AI tools provide deeper insights into audience behavior, allowing you to optimize campaigns and deliver more targeted messaging. These advancements underscore the growing role of AI in modern marketing, helping professionals stay competitive in an increasingly digital landscape. By combining automation with personalization, NotebookLM equips marketers with the tools to create impactful, data-driven strategies. A Comprehensive Tool for Modern Professionals With its latest updates, NotebookLM cements its status as a versatile platform for organizing, analyzing, and presenting information. The intuitive user interface, advanced video and audio features, and centralized content management cater to a wide range of professional needs. Whether you're streamlining research, crafting compelling presentations, or using AI for marketing insights, NotebookLM provides the tools necessary to excel in today's fast-paced, digital-first environment. These enhancements demonstrate the platform's commitment to empowering users with innovative solutions that drive productivity and success. Media Credit: Skill Leap AI Filed Under: AI, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
