Multiple wildfires are devastating the Los Angeles area, with critical fire conditions expected to continue. The economic costs are estimated to reach up to $57 billion, impacting homes, landmarks, and the film industry. California’s insurance market faces challenges as insurers flee, driving up rates and leading homeowners to the state-backed FAIR plan. Major events and productions in Hollywood have been canceled or postponed. Meanwhile, the bond market is signaling concerns about higher lending costs and inflation, impacting global stocks and economies.
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Atour Lifestyle Q2 Revenue Up 37 Percent
Atour Lifestyle Holdings (NASDAQ:ATAT) reported a 37.4% year-over-year increase in net revenues to RMB2,469 million and a 30.2% rise in adjusted net income to RMB428 million, raising full-year revenue growth guidance to 30% and retail growth expectations to 60%. The company opened 239 new hotels in the first half of 2025, ending Q2 with 1,824 hotels, supported by a strong pipeline, while maintaining resilient mature hotel metrics despite market volatility. Want More Context? 🔎
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