Latest news with #Club
Business News Wales
8 hours ago
- Business
- Business News Wales
Sponsorship Is a Two-Way Partnership at Cardiff Business Club
When Cardiff Business Club was founded in 1912, coal was still king and Cardiff was at the heart of global industry. Much has changed in the century since, but the Club's mission – to connect businesspeople, exchange ideas, and help shape the economic conversation in Wales – remains as relevant now as it was then. Relevance is a word I keep coming back to. As Chair, it's something I think about a lot. We have a proud history, but that history only matters if we use it as a foundation, not a resting place. I believe strongly that Cardiff Business Club should reflect the Wales we live and work in today and that means being open, outward-looking, and genuinely representative of the business community around us. That commitment to relevance runs through everything we do, from the calibre and diversity of our speakers to the makeup of the room. At our final event of the season in June, the split between men and women attending was roughly 50/50. That might sound unremarkable now, but when I think back to the stories shared in the Club's centenary book – about the resistance, not so long ago, to admitting women as members at all – it's clear just how far we've come. Our programme is also evolving. Last season we hosted roundtables in partnership with the Design Commission for Wales, exploring specific topics like transport in more depth. We co-hosted a major event with the CBI that brought 400 people into the room. And we've continued to welcome a wide range of speakers – from our Club President, Dame Tanni Grey-Thompson to Rupert Soames – who challenge, inspire and engage. This autumn, we'll welcome the Irish Ambassador, a senior military leader and the First Minister of Wales. Each of those events reflects our aim: to be a space where people can hear directly from decision-makers and leaders, and where the business community can have a voice in shaping the future. Of course, none of this happens in isolation. The Club is made stronger through the support of its sponsors, and as we look ahead to the 2025–26 season, I want to encourage more businesses to consider coming on board. Sponsorship isn't just about visibility, though we work hard to ensure our partners receive that. It's about connection. Whether it's through panel events, collaborative roundtables, or podcasts like our own series Capital Conversations, we're creating more ways than ever for our sponsors to engage with the business community and with policymakers. Our partners gain real opportunities to showcase their work and contribute to meaningful conversations. And in return, the Club benefits from fresh perspectives, new networks, and stronger ties across Wales and beyond. We've seen this in action with organisations like Bute Energy and Swansea Building Society, both of whom have taken a lead role in our recent programme. Their involvement has helped shape the Club's direction and, in turn, we've helped shine a light on their work and values. I want to see more businesses benefit in the same way. That's why we're continuing to build bridges. We've hosted events with other organisations, and we're starting to attend them too. In July, for example, we'll take a table at a Swansea Business Club event, strengthening ties across the country. We're also bringing together senior figures from institutions like the Bank of England for small, focused discussions that allow for direct engagement – something many of our sponsors have found particularly valuable. So if you're a business leader thinking about getting involved, my message is simple: now is a good time to act. The new season is shaping up well, with many of our events already confirmed, and there are real opportunities for sponsors to contribute in a way that's visible, meaningful and genuinely rewarding. Getting in touch is easy. Visit the website – – or reach out to me or any member of the board. We'll be happy to start a conversation. Phil Jardine talks about this and more in the Capital Conversations, The Cardiff Business Club Podcast episode Corporate Engagement and Cardiff Business Club. Listen to the podcast here.
Business Wire
17 hours ago
- Business
- Business Wire
AM Best Affirms Credit Ratings of China Shipowners Mutual Assurance Association
HONG KONG--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of 'a-' (Excellent) of China Shipowners Mutual Assurance Association (China P&I or the Club) (China). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect China P&I's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. AM Best expects China P&I's risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR), to remain at the strongest level over the short to intermediate term, supported by very low underwriting leverage and sustained capital growth through earnings retention. The Club's consolidated capital and surplus increased moderately in 2024, driven by positive operating results and profit retention. China P&I continues to hold its long-term equity investments in China Minsheng Banking Corp., Ltd. (CMBC), which represents approximately 70% of total invested assets. This investment concentration risk remains an offsetting factor to China P&I's balance sheet strength, alongside the higher-than-average investment allocation to equities and sizeable gross losses of protection and indemnity (P&I) insurance that the Club is potentially exposed to. Conversely, supportive factors in AM Best's balance sheet strength assessment include the Club's prudent reserving practices in view of the long-tail nature of P&I insurance and its comprehensive reinsurance programme. China P&I achieved stable operating results in 2024, mainly driven by favourable investment returns and moderate underwriting losses at a controllable level. The Club has consistently recorded net profit over the last five years. Based on AM Best's calculations, the Club's five-year average return-on-equity ratio was 4.4% (2020-2024). The Club's underwriting profitability was modestly impacted by rising losses incurred in a less benign year of claims, albeit partially offset by improvement in operating expenses. The Club continued to report stable investment returns in 2024, with a net investment yield (including capital gains or losses) of 5.0%, owing to a consistent track record of dividends and growth in the CMBC investment's book value. Established in 1984, as a mutual association, the Club has become a leading player in China's P&I market and is one of the major hull insurance providers in the country. The Club's underwriting portfolio has remained stable with a focus on the domestic market of ocean-going vessels owned by Chinese shipowners. China P&I continues to explore opportunities in overseas markets, such as Southeast Asia to diversify its member base. In addition, the Club continues to leverage its long-term business partnerships with several international groups of P&I clubs in areas such as reinsurance support, loss prevention, claims services, product development, sharing local knowledge and professional network. Negative rating actions may occur if China P&I's balance sheet strength no longer supports the current assessment, for example, due to material deterioration in the level of risk-adjusted capitalisation arising from heightened investment risks. Negative rating actions also may arise if China P&I's operating performance demonstrates a persistent deteriorating trend, for example, due to sustained and material investment losses, which significantly weigh down the Club's profitability or erode its capital position. Positive rating actions may occur if the Club achieves material and sustained enhancement in its global market presence over the intermediate term, while continuing to strengthen its leadership position in the domestic market. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
CNBC
3 days ago
- Business
- CNBC
Jim Cramer sees pockets of 'turmoil' in the market — plus, the latest on Nvidia's plans for China
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. Stocks were slightly lower Tuesday morning, giving up some of the modest gains seen earlier in the session. Even when the S & P 500 was in the green, Jim Cramer called out some "turmoil" underneath the hood of the market, particularly in the health-care sector. The biggest mover to the downside in that cohort is Novo Nordisk , with shares plunging more than 20% after the GLP-1 maker slashed its 2025 sales outlook. The company lowered growth expectations for Wegovy in the obesity market and for Ozempic in the diabetes market. Club holding Eli Lilly is down 4.3% in sympathy. We trimmed our position in the biopharma giant Tuesday to mitigate our risk ahead of Lilly's own earnings report next week. 2. Nvidia hit a 52-week high earlier in Tuesday's session on the back of a Reuters report that said the artificial intelligence leader has placed an order with Taiwan Semiconductor Manufacturing Co. for 300,000 of its made-for-China H20 chips. Earlier this month, the Trump administration reversed a ban imposed in April that prohibited sales of H20 chips to the Chinese market over national security concerns. The new orders with TSMC adds to the existing inventory of 600,000 to 700,000 H20 chips, Reuters reported. Elsewhere, fellow chipmakers Advanced Micro Devices and Club holding Broadcom were solidly higher, as earnings from the likes of Cadence Design Systems cast a positive due on the broader AI trade. 3. Coffee giant Starbucks reports its third quarter of fiscal 2025 after the bell Tuesday. We're hoping to see a boost in same-store sales in the locations where turnaround artist CEO Brian Niccol has rolled out his "Green Apron Service" model, a strategy aimed at enhancing the customer experience. We'd also like to see how the company's labor investments are helping business operations and what the plans for its growth China business. Jim said he's "still not expecting big stuff" this quarter given the company is still in the early stages of the turnaround . Starbucks shares, which have trailed the market this year, were down nearly 1% Tuesday. 4. Stocks covered in Tuesday's rapid fire at the end of the video were: Boeing , United Health , Procter & Gamble , Merck , and Cadence Design Systems. (Jim Cramer's Charitable Trust is long LLY, NVDA, SBUX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
The Herald Scotland
3 days ago
- Sport
- The Herald Scotland
Guardians' Emmanuel Clase put on leave in MLB gambling investigation
The team added that "no additional players or Club personnel are expected to be impacted." Clase had one of the best seasons by a relief pitcher in baseball history in 2024, converting 47 saves in 50 opportunities and posting a 0.61 ERA in 74 1/3 innings. He finished third in the AL Cy Young voting behind winner Tarik Skubal and runner-up Seth Lugo. This season, he's racked up 24 saves, but with a 3.23 ERA. Ortiz was put on leave July 3, after ESPN reported that two of his pitches - both sliders far outside the strike zone in games on June 15 and June 27 - received unusual gambling activity. The league did not specify what the investigation was about, but said in a statement Ortiz "has been placed on non-disciplinary paid leave through the end of the All-Star break." Although the break has concluded, Ortiz has yet to return to the Guardians' active roster.
CNBC
4 days ago
- Business
- CNBC
We're not fretting two downgrades of high-flying GE Vernova. Here's why
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. 1. The stock market is muted Monday following Washington's trade deal with the European Union announced by President Donald Trump on Sunday. This is on the heels of last week's strong performance, which sent the S & P 500 to fresh record highs. "The market is somewhat tepid, and it's giving us an opportunity to get in," said Jim Cramer. The Club is capitalizing on the opportunity and earlier Monday bought shares of both Cisco and Honeywell . We're also keeping an eye out for a potential buys on Dover and Capital One. 2. The trade agreement with the EU is "very important," but as of now, it's "not fleshed out enough as far as I'm concerned," Jim said. Some of the details we know now: Most imports from the EU, including cars, will be subject to a 15% tariff rate. The bloc also agreed to buy $750 billion worth of U.S. energy, triggering the Club's trimming of Eaton as the company hit another record high on the news. Meanwhile, American and Chinese trade officials arrived in Sweden for trade negotiations. U.S Trade Representative Jamieson Greer said on CNBC that he's not expecting an "enormous breakthrough" just yet. It's possible the Aug. 12 tariff deadline with China could be extended as a result of these meetings, Director of Portfolio Analysis Jeff Marks noted. 3. GE Vernova was downgraded to neutral by Mizuho and Guggenheim, with analysts at both firms citing the stock's valuation. Still, Mizuho revised its price target higher to account for the stock's huge rally, going to $670 a share from $412, partially due to accelerating margin expansion. Shares, which have more than doubled off their April lows, were trading around $640 apiece Monday. Guggenheim analysts removed their price target but said the stock is still attractive for investors willing to focus on 2029 and beyond. Jim said he wants GE Vernova's CEO Scott Strazik to expand the company's gas turbine production capacity. "His orders are so strong and ironclad, I wish he would spend some more money," Jim said. 4. Stocks covered in Monday's rapid fire at the end of the video were: Nike , Texas Instruments , and Tesla . (Jim Cramer's Charitable Trust is long CSCO, COF, HON, DOV, ETN . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
