Governor Phil Murphy Sees Huge Profit Margin in High Energy Prices for State Finances
TRENTON, NJ – New Jersey’s government bank accounts are about to see a huge increase in tax revenue collected from anyone who pays an electric bill, thanks to a 20% price hike…
Appliance maker Whirlpool’s 2023 profit forecast beats expectations
(Reuters) – U.S. home appliances maker Whirlpool Corp forecast full-year profit above Wall Street estimates on Monday, helped by cost cuts and easing raw material prices. Shares of the appliance maker were…
GM, Ford must convince investors they can profit as prices fall
DETROIT (Reuters) – General Motors Co and Ford Motor Co are expected to report strong profits for 2022 next week, powered by premium-priced pickup trucks and sports utility vehicles (SUVs). Now, the…
Dubai lender Emirates NBD 2022 net profit up 40%
DUBAI (Reuters) – Emirates NBD, Dubai’s biggest lender, reported a 40% jump in 2022 net profit to 13 billion dirhams ($3.5 billion) on Thursday, helped by higher interest rates and transaction volumes…
Testing company SGS reports 4.1% drop in full year profit
ZURICH (Reuters) – Testing and inspection group SGS said it was aiming for organic growth in the mid-single digit percentage range this year after on Thursday reporting a 4.1% drop in shareholders…
Hess tops Wall St profit estimates, signals dividend increase
By Sabrina Valle, Liz Hampton and Sourasis Bose (Reuters) -U.S. oil and gas producer Hess Corp on Wednesday beat Wall Street estimates for fourth-quarter profit on better-than-expected production in Guyana, allowing it…
Norfolk Southern misses quarterly profit estimates on higher operating expenses
(Reuters) – Norfolk Southern Corp reported a lower-than-expected fourth-quarter profit on Wednesday as U.S. railroad operators struggle with labor shortages, service problems and high fuel prices. The U.S. railroad industry has faced…
Nidec shares slide 7% after profit forecast cut
TOKYO (Reuters) – Shares in Japan’s Nidec Corp slumped as much as 7% on Wednesday morning in Tokyo after the electric motor maker nearly halved its full-year profit forecast on a slow…
India’s Reliance Industries misses profit view on windfall tax
By Sethuraman N R BENGALURU (Reuters) -Reliance Industries Ltd on Friday reported a bigger-than-expected drop in quarterly profit as India’s biggest company by market valuation took a hit from the government’s windfall…
Citgo Petroleum on track for $2.5 billion profit in 2022 – supervisory board
HOUSTON (Reuters) – Refiner Citgo Petroleum is on track for a $2.5 billion profit this year, which it plans to use for repaying debt and invest in the reliability of its operations,…
UK retailer Currys warns on profit as Nordic chill sweeps in
By Aby Jose Koilparambil (Reuters) -British electricals retailer Currys cut its full-year profit forecast on Thursday after heavy discounting by rivals in the Nordics region drove it to a first-half loss, sending…
Lufthansa raises 2022 profit forecast, shares rise
(Reuters) – Lufthansa expects to achieve adjusted earnings before interest and taxes (EBIT) of around 1.5 billion euros ($1.58 billion) in 2022, the German flag carrier said in a statement on Tuesday.…
Air New Zealand raises first half profit outlook on travel demand
(Reuters) – Air New Zealand Ltd on Thursday increased its earnings forecast for the first half of fiscal 2023, helped by strong travel demand across its domestic and international networks and a…
TD Bank quarterly profit jumps on higher rates boost
(Reuters) -Canada’s TD Bank posted a surge in fourth-quarter profit on Thursday as gains from higher interest rates boosted its personal and commercial business and helped offset weakness in underwriting and capital…
Bank of Montreal posts lower quarterly profit as capital markets slump
(Reuters) – Canada’s Bank of Montreal posted a lower fourth-quarter profit on Thursday, as revenue from its capital markets business tumbled and the lender increased provisions for credit losses to brace for…
National Bank of Canada quarterly profit falls on higher expenses, provisions
(Reuters) – National Bank of Canada posted a lower fourth-quarter profit on Wednesday, as the Canadian lender set aside higher provisions in the face of an economic downturn. The company recorded $87…
Nomura CEO says U.S. becomes profit driver despite one-off losses
TOKYO (Reuters) – Nomura Holdings Inc’s U.S. wholesale business has emerged as a profit driver despite some large one-off losses in the region that had dragged down the bank’s earnings in the…
Chevron’s Venezuelan oil exports will not profit state-run PDVSA – Washington source
HOUSTON (Reuters) – A U.S. license allowing Chevron Corp to expand Venezuela’s oil production and export its oil will be designed to prevent the country’s state-run oil firm PDVSA to profit from…
Abercrombie posts surprise profit, sees better holiday-quarter sales
(Reuters) -Abercrombie & Fitch Co on Tuesday posted a surprise third-quarter profit and forecast a smaller-than-expected drop in current-quarter sales as it remains “cautiously optimistic” for the holiday season. The Ohio-based retailer’s…
Dell quarterly profit jumps on higher server demand, lower costs
(Reuters) – Dell Technologies Inc posted a 68% rise in quarterly operating profit on Monday, as strong demand for servers and network equipment cushioned weak PC sales and easing supply-chain pressures helped…
Kohl’s withdraws annual sales, profit forecasts
(Reuters) -Kohl’s Corp withdrew its 2022 sales and profit forecasts on Thursday, blaming an uncertain economic outlook and the departure of top boss Michelle Gass. Shares of the department store chain fell…
Colombia’s Grupo Aval posts 23.2% decrease in Q3 net profit
(Reuters) -Colombian financial conglomerate Grupo Aval reported third quarter net profit down 23.2% from a year earlier on Wednesday, landing at 929.8 billion pesos ($193.4 million), citing a higher effective tax rate…
Mr Kipling maker Premier Foods posts higher half-year adjusted profit
(Reuters) – Premier Foods reported a rise in half-yearly adjusted profit on Wednesday on strong demand for its cakes and grocery products, while flagging further price pressures amid surging inflation. “We continue…
Uruguay’s dLocal posts higher quarterly profit as platform grows
(Reuters) – Uruguayan payments firm dLocal posted a higher third-quarter net profit compared with last year as payment volumes on its platform jumped, the company said in a statement on Monday. Profit…
Australia’s CBA Q1 profit jumps on lending growth, rising interest rates
By Sameer Manekar (Reuters) – Commonwealth Bank of Australia, the country’s largest bank, on Tuesday reported better-than-expected cash earnings for the first quarter, helped by lending growth and rising interest rates. Australian…
Colombia’s Grupo Argos Q3 net profit drops 9.2% after jump in costs
MEXICO CITY (Reuters) – Colombian industrial conglomerate Grupo Argos’ third-quarter net profit fell 9.2% from a year earlier, the company said Monday, following a jump in costs and expenses. The company, made…
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