jumps

Suedzucker’s annual profit jumps nearly 40% on strong sugar, bioethanol performance

Reuters0

HAMBURG – Europe’s largest sugar producer Suedzucker on Monday posted a rise of almost 40% in full year operating profit as improved sugar and bioethanol markets boosted earnings. Group operating profit in the full financial year 2021/22 to the end of February rose to 330 million euros ($362.37 million) from 236 million euros in the previous year, the company said in an advance release of its annual results. It had previously forecast full-year group operating profit of between 320 million and 380 million euros. “The results have benefited from a good performance by the sugar sector and also from bioethanol,”

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Jen Psaki Jumps From Biden’s Sinking Ship for Job at MSNBC

Conservative Times0

No amount of circling back and deflecting by White House Press Secretary Jen Psaki convinced the American people that her boss was taking the country in the wrong direction. For the past year, Psaki has been the primary voice of the Biden administration. Each day, her job was to dig her boss, President Joe Biden, out of the holes he dug and spin his gaffes, missteps, and bad policy into good news for the American people. For the first few months, it was easy as the majority of the White House Press Corps hung on her every word. Then Afghanistan

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Meme stock GameStop jumps on stock split plans

Reuters0

(Reuters) – Shares of GameStop Corp jumped 15% in premarket trading on Friday after the video game retailer at the heart of last year’s retail trading frenzy said it would seek shareholder approval for a stock split. The plan comes as shares of GameStop and other so-called “meme” stocks including AMC Entertainment Holdings are seeing renewed interest from retail investors, who are piling into riskier assets emboldened by hopes of a resolution in Russia’s conflict with Ukraine. Shares of GameStop, which have nearly doubled in value in the past two weeks, rose another 15% to $192 on bets that a

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Central banks rush to stimulus exit as inflation jumps, wary of Ukraine fallout

Reuters0

LONDON – The European Central Bank’s announcement on Thursday that it plans to end stimulus in the third quarter of 2022 shows that policymakers across the developed world remain laser-focused on inflation, rather than a potential growth hit from the Russia crisis. Russia’s invasion of Ukraine on Feb. 24 has thrown a curve ball at central banks which were intent on dialling back post-pandemic stimulus, but are now watching oil prices soar to 14-years highs, dampening growth prospects. But the ECB’s hawkish surprise shows central banks plan to press ahead with rate-hike plans, though most concede events in Ukraine warrant

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Israel’s Tower Semiconductor profit jumps amid pending sale to Intel

Reuters0

JERUSALEM – Tower Semiconductor on Thursday reported a higher than expected rise in quarterly profit, days after Intel Corp said it planned to buy the Israeli chipmaker. The company, previously called TowerJazz, earned diluted earnings per share of 55 cents excluding one-time items in the fourth quarter, up from 34 cents a year earlier. Revenue rose 19% to $412 million, with organic growth up 28%. Chipmakers are seeing a surge in demand as economies recover more quickly than expected from the pandemic, with some sectors, such as automaking, reporting shortages. Tower was forecast to earn EPS of 46 cents on

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Brazil’s Itausa Q4 recurring profit jumps 53%

Reuters0

By Peter Frontini SAO PAULO – Brazilian holding company Itausa SA on Monday posted a 53% jump in its fourth-quarter recurring profit, mainly helped by gains with lender Itau Unibanco Holding SA and broker XP Inc, it said in a filing. The company reported recurring net income, which excludes one-off items, of 4.185 billion reais ($802.51 million) in the last quarter of 2021. Net profit was 4.117 billion reais, 12% above the same period from 2020. The performance was “driven mainly by the better results at Itau Unibanco, as a result of the growth in its loan book”, said Itausa

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OnlyFans jumps into NFT profile pictures

Reuters0

By Elizabeth Culliford – OnlyFans, an online subscription platform known for adult content, has launched a feature for users to display verified NFTs as profile pictures, it said on Thursday. The UK-based company, which said it introduced the feature in December, joins social media companies such as Twitter and Reddit that have explored ways to incorporate the digital tokens on their platforms. OnlyFans, which was launched in 2016, boomed during the pandemic as it became a way for creators to earn money selling content directly to subscribers. NFTs, or non-fungible tokens, are a type of digital asset that exist on

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Homebuilder DR Horton first-quarter profit jumps

Reuters0

– D.R. Horton Inc posted a 44.2% rise in quarterly profit on Wednesday, benefiting from record-high property prices and lower interest rates on home loans. Net income attributable to the largest U.S. homebuilder rose to $1.14 billion, or $3.17 per share, in the first quarter ended Dec. 31, from $791.8 million, or $2.14 per share, a year earlier. (Reporting by Kannaki Deka in Bengaluru; Editing by Shinjini Ganguli)

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Steelmaker POSCO’s 2021 profit jumps on strong demand

Reuters0

By Joyce Lee and Heekyong Yang SEOUL -South Korean steelmaker POSCO’s operating profit more than tripled to a record 9.2 trillion won ($7.62 billion), boosted by strong demand and higher prices of the construction raw material. Global crude steel production rose 3.7% last year to 1.95 billion tonnes, World Steel Association data showed this month, despite an energy crunch that led to weaker output in top producer China. POSCO’s consolidated operating margins in 2021 were 12.1%, up from 4.2% in 2020. The company’s fourth-quarter consolidated profit was 2.37 trillion won, in line with estimates of 2.3 trillion won, according to

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Apple teases metaverse AR plans, stock jumps

Reuters0

By Danielle Kaye NEW YORK – Apple Inc teased its metaverse ambitions on Thursday as CEO Tim Cook talked expansion of the company’s augmented reality apps, prompting strong investor response. The company has 14,000 AR apps on its App Store, and Cook suggested this number will rise with further investment. “We see a lot of potential in this space and are investing accordingly,” said Cook, in response to a question about its plans for the metaverse, a broad term that generally refers to shared virtual world environments that people can access via the internet. Apple analyst Ming-Chi Kuo and Bloomberg

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