(Reuters) - Insurer Progressive reported a 10% jump in first-quarter profit on Wednesday, helped by resilient demand for its auto insurance policies.Shares of the Mayfield Village, Ohio-based company rose 1.8% to $281 before the bell.Rising wages and low unemployment in the reported quarter helped sustain customer spending on auto insurance, one of Progressive’s mainstay revenue streams.Its net ...
By Niket Nishant(Reuters) - Insurance bellwether Travelers (NYSE:TRV)’ first-quarter profit exceeded analysts’ expectations on Wednesday, as strong underwriting gains helped soften the hit from over $2 billion of catastrophe losses driven by the Los Angeles wildfires.Shares rose 4%, extending a recovery after tariff-related market turmoil drove them to a three-month low last week.The results s ...
Investing.com -- The chief economist at Apollo Global Management (NYSE:APO) Inc. has warned that a potential US recession could significantly increase the country’s budget deficit, despite the potential savings from lower interest rates. Torsten Slok’s analysis suggests that a two percentage point drop in interest rates could lead to savings of around $500 billion in annual interest payments. ...
By Shivansh Tiwary(Reuters) -United Airlines shares rose on Wednesday after it said forward bookings were stable so far in the current quarter despite tariff-induced economic uncertainty. Shares of the carrier were up 3% and on track to recover some of their losses from what has been a tumultuous last few months for U.S. airlines. The shares have fallen 31% this year.Trump’s trade policies and s ...