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12.06.25 - 02:00
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Huawei CEO Accuses U.S. Over Overstating Its Chipmaking Capabilities (ZeroHedge)
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Huawei CEO Accuses U.S. Over Overstating Its Chipmaking Capabilities
In an interview with China's state-run People's Daily, Huawei's founder, Ren Zhengfei, downplayed his company's chip technology and accused the US of overstating its capabilities as trade talks between Washington and Beijing continue, according to FT.
Ren said Huawei's Ascend chip, China's main alternative to Nvidia, “still lags behind the US by one generation” and added: “The US has exaggerated Huawei's capabilities — we're not that strong yet.”
His comments follow Nvidia CEO Jensen Huang's recent concerns about Huawei's advances in AI chips, claiming that US export restrictions have fueled a “formidable” competitor challenging America's AI leadership.
FT writes that trade discussions between the US and China began Monday in London, with export controls on key tech now on the table. During the first round in Geneva, these controls weren't discussed, but Beijing's export curbs on rare earths essent...
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22.05.25 - 12:33
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Essent Group Ltd. Announces David Benson and April Galda Joyce Have Joined Board of Directors (Business Wire)
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HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) announced today that David Benson and April Galda Joyce have joined its Board of Directors.
“We are pleased to welcome David and April to our Board of Directors,” said Mark A. Casale, Chairman and Chief Executive Officer. “David's deep expertise in housing finance and leadership will provide critical guidance for our mortgage insurance franchise. April's extensive management and operational experience in insurance and financial services will support our strategic growth as a specialty insurer.”
David Benson has over 30 years of experience in mortgage credit, finance, and capital markets. From 2002 to 2024, Mr. Benson held roles at Federal National Mortgage Association (Fannie Mae), the largest U.S. mortgage credit provider, including serving as president from 2018 to 2024 and interim CEO in 2022. His responsibilities spanned business units and corporate functions including finance, IT, and strategy, as well as human resources and...
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15.05.25 - 22:51
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Orbis Responds to Public Statements by Tsuruha on Proposed Tsuruha-Welcia Merger and Subsequent Tender Offer by AEON (Business Wire)
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LONDON--(BUSINESS WIRE)--Orbis Investments (“Orbis”), which held 9.7% of Tsuruha Holdings Inc. (“Tsuruha”) as of 28 February 2025 on behalf of its clients, notes the recent public statements by Tsuruha regarding its proposed merger with Welcia Holdings Co., Ltd. (“Welcia”), a company controlled by AEON Co., Ltd. (“AEON”), and the subsequent partial tender offer by AEON to take control of Tsuruha.
Tsuruha Should Receive a Control Premium from Welcia
In a press release dated 14 May 2025, Tsuruha stated that the share exchange ratio “…is considered favourable for [Tsuruha] shareholders when compared to the average premium levels observed in recent cases of full ownership acquisitions through share exchanges with similar characteristics.”
This statement is, in Orbis' view, deeply misguided. Orbis fundamentally disagrees with the assertion that Tsuruha should pay a control premium for Welcia. Although the proposed merger is structured with Tsuruha as the surviving entity, it is an essent...
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09.05.25 - 12:36
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Essent Group Ltd. Announces First Quarter 2025 Results and Declares Quarterly Dividend (Business Wire)
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HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today reported net income for the quarter ended March 31, 2025 of $175.4 million or $1.69 per diluted share, compared to $181.7 million or $1.70 per diluted share for the quarter ended March 31, 2024.
Essent also announced today that its Board of Directors has declared a quarterly cash dividend of $0.31 per common share. The dividend is payable on June 10, 2025, to shareholders of record on May 30, 2025.
“We are pleased with our first quarter 2025 financial results, as we continue to benefit from favorable credit performance, elevated portfolio persistency and higher investment income,” said Mark A. Casale, Chairman and Chief Executive Officer. “We remain confident in our ability to continue to generate high-quality earnings and grow book value per share.”
Financial Highlights:
New insurance written for the first quarter of 2025 was $9.9 billion, compared to $12.2 billion in the fourth quarter of 2024 and $8.3 billion in the first ...
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18.04.25 - 12:36
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Essent Group Ltd. Schedules First Quarter Earnings Conference Call for May 9, 2025 (Business Wire)
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HAMILTON, Bermuda--(BUSINESS WIRE)--Essent Group Ltd. (NYSE: ESNT) today announced that it will hold a conference call on Friday, May 9, 2025, at 10:00 a.m. Eastern Time to discuss the Company's first quarter 2025 results, which will be announced prior to the market open on the same day.
The conference call will be broadcast live over the Internet at http://ir.essentgroup.com/events-and-presentations/events/default.aspx. The call may also be accessed by dialing 888-330-2384 inside the U.S., or 240-789-2701 for international callers, using passcode 9824537 or by referencing Essent.
A replay of the webcast will be available on the Essent website approximately two hours after the live broadcast ends for a period of one year. A replay of the conference call will be available approximately two hours after the call ends for a period of two weeks, using the following dial-in numbers and passcode: 800-770-2030 inside the U.S., or 647-362-9199 for international callers, passcode 9824537.
In addition to the inform...
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