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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…
Japan’s biggest bank Mitsubishi UFJ reports 70.5% slump in Q2 profit
TOKYO (Reuters) – Mitsubishi UFJ Financial Group Inc, Japan’s largest lender by assets, on Monday reported a 70.5% slide in second-quarter net profit because of another one-off loss related to the sale…
Japan’s Mizuho reports 29.3% increase in Q2 net profit
TOKYO (Reuters) – Mizuho Financial Group, Japan’s third-largest lender by assets, on Monday reported a 29.3% increase in second-quarter net profit. Mizuho posted a profit of 174.67 billion yen ($1.25 billion) in…
Colombia’s Grupo SURA posts near-stable Q3 profit as revenues, costs grow
(Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, stayed relatively stable in the third quarter compared to the year-ago period as both revenues and costs grew, the company said…
Chile’s Empresas Copec posts 35.5% drop in Q3 net profit
SANTIAGO (Reuters) -Chilean industrial group Empresas Copec on Friday posted a 35.5% decrease in its third-quarter net profit versus a year earlier, mainly driven by a drop in non-operating income. The company’s…
Pfizer’s India arm posts profit jump on lower costs, price hikes
BENGALURU – Pfizer Ltd, the Indian arm of U.S. pharma giant Pfizer Inc, reported a rise in second-quarter profit on Friday, boosted by price hikes and lower input costs. Profit before tax…
Brazil’s Rumo profit soars on higher volumes, tariffs
SAO PAULO (Reuters) – Brazilian railroad operator Rumo SA reported on Thursday a six-fold jump in third-quarter profit, benefiting mainly from higher agribusiness cargo volumes in Brazil’s Midwest plus higher tariffs. Rumo’s…
Ternium Q3 profit drops 84%, sees lower steel margin ahead
By Gabriel Araujo and Kylie Madry SAO PAULO/MEXICO CITY (Reuters) -Steelmaker Ternium reported an 84% drop in its third-quarter net income to $220 million on Thursday, hurt by lower realized steel prices…
NYSE-parent ICE beats profit estimates, takes $1.1 billion writedown
By Manya Saini (Reuters) -Intercontinental Exchange topped market estimates for third-quarter profit on Thursday on the back of robust trading volumes and demand for investment products, sending shares of the New York…
Inter IKEA posts 45% profit fall on costs, Russia
STOCKHOLM (Reuters) – IKEA franchiser Inter IKEA posted a 45% fall in pre-tax profit for the year through August to 931 million euros ($908 million) as it passed on some, but not…
BNP Paribas profit tops forecast despite higher costs, debt markdown
PARIS (Reuters) – BNP Paribas, the euro zone’s biggest lender, posted a higher than expected net profit in the third quarter, with trading revenues helping offset rising costs and markdowns on some…
Nutrien cuts 2022 profit forecast again on lower potash prices
By Ruhi Soni (Reuters) -Nutrien Ltd on Wednesday cut its full-year adjusted earnings forecast for the second time this year as potash prices decline, sending the shares of the world’s biggest fertilizer…
MetLife third-quarter profit more than halves on lower investment returns
(Reuters) – MetLife Inc on Wednesday reported a 53% drop in third-quarter profit as economic pressures and a global market rout led to weaker returns from the U.S. insurer’s investments. The company’s…
Nutrien third-quarter profit more than doubles
(Reuters) – Top fertilizer maker Nutrien Ltd said on Wednesday its third-quarter profit more than doubled, helped by demand for its plant nutrients from farmers looking to take advantage of higher crop…
Portugal’s airline TAP turns to rare profit as revenues soar
LISBON (Reuters) – Portuguese airline TAP posted a rare net profit in the third quarter on Wednesday on strong revenue and helped by currency hedging, but said visibility for next year remained…
Novo Nordisk sees faster profit growth on demand for diabetes drug Ozempic
By Ludwig Burger (Reuters) – Danish drugmaker Novo Nordisk raised its full-year earnings outlook on strong sales of diabetes treatment Ozempic, also reporting a better-than-expected profit. In a statement on Wednesday, it…
Bentley’s profit gets a lift from niche, personalised cars
By Nick Carey LONDON (Reuters) – Luxury British carmaker Bentley said on Wednesday that its operating profit for the first nine months of 2022 more than doubled, as global economic uncertainty failed…
Prudential Financial third-quarter profit falls as market rout hits AUM
(Reuters) – Prudential Financial Inc on Tuesday reported a fall in quarterly adjusted profit as the insurer’s assets under management (AUM) came under pressure from a recent selloff in global markets. Decades-high…
Insurer AIG profit slumps on hurricane costs, lower investment returns
(Reuters) – Insurer American International Group Inc on Tuesday reported a more than 39% decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian…
Refiner Phillips 66 quarterly profit jumps on strong fuel demand
(Reuters) – Phillips 66 reported a jump in quarterly profit on Tuesday, as the refiner benefited from surging fuel demand and tight energy supplies. The Houston, Texas-based company reported earnings of $5.4…
Japan carrier ANA Holdings posts half-year profit, raises full-year target
TOKYO (Reuters) -Japan’s largest airline ANA Holdings Inc on Monday swung to a half-year profit and raised its full-year earnings target as a relaxation of COVID-19 border measures fosters a recovery in…
Imperial Oil raises dividend after quarterly profit more than doubles
By Nia Williams and Sourasis Bose (Reuters) -Canada’s Imperial Oil Ltd reported a jump in third-quarter profit and raised its dividend on Friday, boosted by higher energy prices as a result of…
BYD posts 350% jump in Q3 net profit on sales surge
SHANGHAI (Reuters) -China’s biggest electric vehicle (EV) maker BYD said its third-quarter net profit jumped 350% from a year ago, helped by a wider range of product offerings and strong sales that…
Glencore set for record 2022 trading profit despite second-half fall
LONDON (Reuters) – Glencore expects second-half operating profit at its trading arm to fall sharply from the previous six months to $1.6 billion, it said on Friday, but it remains on track…
Three of China’s largest lenders report over 6% rise in third quarter profit
BEIJING (Reuters) – Three of China’s largest lenders posted third quarter profit rises of over 6% as non-performing loan ratios shrunk. Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest…
Caixabank’s Q3 net profit rises 19% on lending and insurance
MADRID (Reuters) – Spain’s Caixabank on Friday said that its net profit in the third quarter rose 18.8% against a year ago thanks to an increase in lending income, fees and higher…
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