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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…
Israel’s Elbit Systems Q1 profit dips, revenue up
(Reuters) – Israeli defence electronics firm Elbit Systems on Tuesday reported lower first-quarter profit, attributing the drop to stock price-linked compensation plans, while revenue rose. The company earned $1.19 per diluted share…
Rowe to exit M&S with jump in profit, but much still to do
By James Davey LONDON – Steve Rowe will next week step down as chief executive of British retailer Marks & Spencer after a turbulent six years in the top job, with his…
S.African wealth manager Investec’s annual profit nearly doubles
JOHANNESBURG – South African lender and asset manager Investec’s full year profit soared by almost 91% thanks to strong loan growth, client acquisitions and increasing funds under management, it said on Thursday.…
Russian mobile operator MTS reports 76.2% y/y slump in Q1 net profit
(Reuters) – Russia’s biggest mobile operator MTS on Wednesday reported a 76.2% year-on-year drop in first-quarter net profit to 3.9 billion roubles ($62.9 million), which it blamed in part on higher interest…
Australian banks enter tech arms race as rising rates squeeze profit
By Byron Kaye SYDNEY – The 10-minute home loan – at the tap of a smartphone screen – is emerging as the next frontier in Australian banking as rising interest rates quash…
Hacker and Ransomware Designer Charged for Use and Sale of Ransomware, and Profit Sharing Arrangements with Cybercriminals
A criminal complaint was unsealed today in federal court in Brooklyn, New York, charging Moises Luis Zagala Gonzalez (Zagala), also known as “Nosophoros,” “Aesculapius” and “Nebuchadnezzar,” a citizen of France and Venezuela…
New York Doctor Admits Buying and Selling Oncology Medication for Profit
NEWARK, N.J. – A New York doctor today admitted using his medical license – and allowing others to use his medical license – to purchase prescription oncology medications under false pretenses for…
Saudi bourse’s quarterly profit falls on lower trading services, listing fees
DUBAI – Saudi Tadawul Group, the kingdom’s stock exchange operator, posted a 21.7% decline in first quarter net profit on Sunday on a slowdown in trading services and listing fees. The bourse…
Honda warns of rising costs, forecasts weaker annual profit
By Satoshi Sugiyama TOKYO -Japan’s Honda Motor on Friday forecast a 7% fall in annual earnings, instead of an expected rise, and warned that the long chip crunch and rising raw material…
Mediobanca says no wealth management deal in sight as profit beats consensus
MILAN -Mediobanca on Wednesday ruled out the prospect of a wealth management acquisition in the immediate future, after reporting higher than expected quarterly results thanks to contributions from all its business segments.…
Shares of Spanish steelmaker Acerinox soar after record profit
By Inti Landauro MADRID – Shares of Spanish steelmaker Acerinox soared on Wednesday after the company reported its highest ever quarterly net profit as strong demand for steel boosted prices. The company…
Brazil’s Petrobras posts $9 billion profit as Bolsonaro rails against company
By Gram Slattery and Roberto Samora RIO DE JANEIRO – Brazil’s Petrobras posted a first-quarter net income that beat forecasts on Thursday, just minutes after Brazilian President Jair Bolsonaro railed against the…
Banco BPM lower loan writedown, revenue rise land profit beat
MILAN -Italy’s Banco BPM posted a higher-than-expected first-quarter net profit on Thursday, helped by a combination of higher revenues and lower loan writedowns. Banco BPM, which is Italy’s third-largest bank, said its…
Chemicals group Lanxess says Russian gas embargo would hit profit
By David Latona (Reuters) -German speciality chemicals maker Lanxess on Thursday said a potential embargo on Russian gas would weigh on its production and core profit this year, after releasing upbeat guidance…
Bentley Q1 profit soars despite cars lost at sea and stuck in China
By Nick Carey LONDON – Luxury British carmaker Bentley on Thursday said its first-quarter operating profit jumped 162% versus the same period last year, as soaring vehicle prices offset the loss of…
Green Thumb profit rises as U.S. pot demand grows
By Rithika Krishna (Reuters) – Green Thumb Industries Inc reported a surge in revenue and core profit on Wednesday, as increasing acceptance of marijuana in the United States helped one of the…
Securitas grows profit as demand recovers from pandemic slump
STOCKHOLM -Security services group Securitas reported on Wednesday a rise in first-quarter profit that matched expectations helped by strong sales growth in Europe. Operating profit rose to 1.25 billion Swedish crowns ($126.7…
Fresenius warns of bigger Ukraine war impact after Q1 profit beat
By Milla Nissi (Reuters) – German healthcare group Fresenius’s first-quarter profit exceeded market expectations on Wednesday, driven by growth in its generic infusion drugs unit in emerging markets. However, the group warned…
EDF first-quarter sales jump but core profit outlook capped by outages
PARIS – French state-owned utility EDF’s first-quarter sales jumped 61% to 35.58 billion euros ($37.40 billion) on the back of higher power and gas prices but the firm was cautious about its…
AIG profit beats estimates on strong underwriting gains
(Reuters) – Insurer American International Group Inc reported a nearly 17% rise in quarterly profit on Tuesday that topped market estimates, as strong underwriting gains and lower catastrophe losses cushioned a drop…
Mitsui posts record profit on strong metals, offsetting Russia loss
By Yuka Obayashi TOKYO -Japanese trading house Mitsui & Co Ltd reported a record full-year profit on Monday as soaring metals and energy prices offset a loss from its liquefied natural gas…
Chile’s Codelco reports Q1 pre-tax profit of $1.521 billion
(Reuters) – Chilean copper producer Codelco posted on Friday a first quarter pre-tax profit of $1.521 billion, a 7% decrease from the year-ago period. The state-owned company’s quarterly production totaled 364,000 tonnes,…
China battery maker CATL suffers profit fall as costs soar
SHANGHAI/HONG KONG -CATL, the world’s largest electric vehicle (EV) battery manufacturer, reported a 23.6% drop in the first quarter profit on Friday, its first fall in two years, as it battles soaring…
NatWest profit jumps as cost-of-living crisis looms
By Iain Withers and Lawrence White LONDON – British lender NatWest posted a 41% jump in first-quarter profit on Friday, as rising rates boosted income even as they threaten to further squeeze…
Swedbank lands narrow profit beat as loan loss provisions fall
STOCKHOLM – Swedish banking group Swedbank on Thursday reported slightly better-than-expected net profit for the quarter but said a potential interruption of Russian gas deliveries to Europe would have an impact on…
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