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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…
Lazard quarterly profit slumps as dealmaking loses momentum
(Reuters) – Lazard Ltd on Thursday reported a 34% drop in second-quarter profit as dealmaking globally stood at a fraction of last year’s record levels. The bank also said it has appointed…
Etihad Airways swings to first half operating profit of nearly $300 million
DUBAI – Abu Dhabi’s Etihad Airways swung to a core operating profit of $296 million in the first half of 2022 from a loss of $390 million a year earlier. The emirate’s…
Singapore Airlines swings to profit as passenger traffic improves
(Reuters) -Singapore Airlines (SIA) swung to a first-quarter net profit of S$370 million ($268 million), it said on Thursday, after a fourteenfold increase in passenger traffic year on year thanks to an…
Poste Italiane Q2 net profit up 44% on strong payment & mobile business
MILAN – Net income at Italy’s Poste Italiane rose 44% in the second quarter to 469 million euros, mainly thanks to strong growth in the payment and mobile division and cost-cutting in…
HeidelbergCement lowers profit outlook on high energy costs
FRANKFURT – HeidelbergCement, the world’s No.2 cement maker, on Thursday posted a 4.3% drop in second-quarter core profit, citing challenges ahead because of an unprecedented increase in energy prices. The results from…
Brazil’s Assai posts nearly 21% jump in quarterly profit
(Reuters) – Brazilian cash-and-carry chain Assai reported a 20.7% increase in second-quarter net profit, compared to the same period last year, to reach 319 million reais ($60.83 million), the company said on…
Portugal’s Millennium bcp first-half profit jumps five-fold
By Sergio Goncalves LISBON – Portugal’s largest listed bank, Millennium bcp, reported on Wednesday a five-fold rise in first-half net profit, boosted by solid core income and strict cost cutting, despite high…
Valeo posts profit beat amid ‘improving’ chip shortage, EV adoption accelerates
(Reuters) – French car parts maker Valeo on Tuesday posted slightly better-than-expected half-year core profit and reiterated its full-year guidance, citing a projected increase in global car output. Valeo’s half-year earnings before…
Adidas cuts full-year profit target on slow China recovery
By Ludwig Burger FRANKFURT -Adidas on Tuesday cut its 2022 earnings target, citing a slower-than-expected recovery in China from pandemic restrictions. In an unscheduled statement, the sporting goods maker said it expected…
U.S. industrials stare at profit squeeze from excess inventory, weak demand
By Aishwarya Nair (Reuters) – U.S. manufacturers are likely to see a hit to their quarterly profit in the second half of the year as higher prices for everything from light bulbs…
Swedish utility Vattenfall posts 54% profit rise
STOCKHOLM – Swedish utility Vattenfall reported a 54% rise in second-quarter operating earnings on Friday as higher electricity prices across the Nordic region, Germany and the Netherlands boosted sales. Underlying earnings before…
Mexican breadmaker Bimbo doubles Q2 net profit, raises outlook
By Kylie Madry and Noe Torres MEXICO CITY – Mexican breadmaker Grupo Bimbo on Thursday reported its second-quarter net profit doubled and the company raised its sales and operating earnings outlook, citing…
Mike Ashley’s Frasers Group expects higher profit next year
(Reuters) -Frasers Group, Mike Ashley’s sportswear and fashion group, said on Thursday it expected higher profit next year after 2022 earnings came in at the upper end of its guidance. The retailer…
Getlink’s core profit soars as travellers return, while Eleclink shows promise
By Olivier Sorgho and Charlotte Lavin (Reuters) – Channel Tunnel operator Getlink said on Thursday its half-year core profit more than tripled from a year earlier, beating analyst expectations on the back…
Asset manager GAM warns on profit, citing market turbulence
ZURICH – GAM Holding expects to post a loss for the first half of 2022, the Swiss asset manager said on Monday, citing a volatile market environment which has led to fall…
Uniqlo owner posts record quarterly profit, lifts annual forecast
TOKYO – Japan’s Fast Retailing, the owner of clothing brand Uniqlo, posted record quarterly profit on Thursday, as the weaker yen and strong sales in the United States made up for a…
Danske cuts profit outlook due to challenging financial market conditions
(Reuters) – Danske Bank on Sunday reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions. Danske revised net profit to 10 billion to 12…
Senate Finance report says AbbVie shifted profit overseas to cut taxes
By Michael Erman (Reuters) – Drugmaker AbbVie Inc generates most of its sales in the United States, while shifting most of its profits overseas in order to avoid U.S. taxes, an interim…
At Australia mine, Glencore balances reforestation drive, coal profit
By Praveen Menon HUNTER VALLEY, Australia – At Glencore’s aging Mt Owen open-cut coal mines north of Sydney, a team of scientists and engineers is restoring woodlands to mined-out fields, aiming to…
European equities per-share profit could drop over 6% – HSBC
(Reuters) – European equities could see a drop between 6.4% and 8.5% in earnings per share this year compared to consensus estimates of a rise of more than 11%, HSBC said on…
Garuda Indonesia halves debt with restructuring, on track for profit – government
JAKARTA – Garuda Indonesia has halved its debt and achieved comparable cuts to aircraft leasing costs in negotiations that have set the airline up for profitability, the Indonesian government said on Tuesday.…
Credit Agricole sees profit topping 6 billion euros in 2025, growth in Italy
By Matthieu Protard PARIS -French bank Credit Agricole is targeting a net profit of more than 6 billion euros ($6.3 billion) by 2025 and sees strong potential for its business in Italy,…
Two Flint Men Charged With Fraudulently Purchasing Firearms From Licensed Gun Dealers In Two States To Resell To Others For Profit
GRAND RAPIDS, MICH. – United States Attorney Mark A. Totten announced today that a federal grand jury charged two men with fraudulently acquiring 62 pistols and rifles…
Ford may slash ad spending, revamp dealers to boost EV profit, CEO says
By Paul Lienert and Ben Klayman (Reuters) – Ford Motor Co needs to overhaul its century-old business model – from slashing advertising spending to reworking its dealer network – if it is…
Ad group S4 Capital posts 35% first quarter gross profit growth
LONDON – Martin Sorrell’s digital advertising group S4 Capital reported a 34.5% rise in first-quarter gross profit and reiterated its full-year outlook, saying it expected robust demand despite forecasts of slowing global…
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