After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Read the fine print in your Apple Card contract — one clause means you give up your right to be heard in court.Technologyread more
Federal Reserve members worried over future growth are highly concerned about the U.S.-China tariff battleThe Fedread more
President Donald Trump signed a memorandum on Wednesday to automatically cancel the student loan debt of disabled veterans. More than 25,000 service members will have their...Personal Financeread more
President Trump and Apple CEO Tim Cook have had a rocky relationship in recent years, but Trump is now complimenting the executive publicly.Technologyread more
(Recasts with details, quotes from press briefing)
MILAN, Aug 1 (Reuters) - Italy's top insurer, Generali , reported first-half operating profit above market estimates on Thursday, helped by growth across its business segments, and confirmed all of its three-year targets announced in November.
"After the first-half results we are very confident that we are able to face the challenges of our industry," General Manager Frederic de Courtois told a press briefing on Thursday.
Generali affirmed its goals for the next three years despite renewed pressure from low interest rates. It has targeted 6-8% growth in earnings per share, an average return on equity of more than 11.5% and a dividend payout of 55-65% of net profit.
Operating result rose 7.6% to 2.72 billion euros ($3 billion) thanks to positive developments in all business segments, Generali said. Analysts had forecast an operating result of 2.65 billion in the first half, according to a consensus provided by the company.
Net profit rose 34.6% to 1.8 billion euros, including capital gains of 480 million euros from disposals of German life insurer Generali Leben and its Belgian business. Analysts had forecast net profit of 1.69 billion euros.
Without those gains, net profit grew 6.4% to 1.31 billion.
In the past three years Generali has raised 1.5 billion euros from disposals, exiting a dozen non-strategic countries.
Its solvency ratio at end-June, a key measure of financial strength, fell to 209% from 217% at end-December, mainly due to the impact of regulatory changes in the first quarter.
"Solvency is still solid despite low interest rates," Bankhaus Lampe analyst Andreas Schaefer wrote in a research note, sticking to its "buy" rating and a price target of 18.5 euros.
The ratio recovered to 213% at the end of last week, CFO Cristiano Borean said during the press briefing.
Gross written premiums grew to 35.7 billion euros, up 1,8% but slightly below consensus of 36.2 billion euros, with a positive performance of both life and property and casualty segments.
The combined ratio, a measure of profitability and financial health, stood at 91.8% at end-June, down 2 percentage points from a year earlier. ($1 = 0.9060 euros) (Reporting by Gianluca Semeraro; editing by Mark Bendeich)