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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…
TSMC’s Q4 profit to slide 23%, focus on rebounding demand this year
TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co Ltd is expected to report a 23% drop in fourth-quarter profit on Thursday, but analysts predict better growth this year on the back of rebounding…
US profit growth to accelerate in 2024 despite economy risks
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. corporate earnings should improve at a stronger clip in 2024 as inflation and interest rates come down, analysts predict, but worries about slowing economic…
Jabil’s quarterly profit beats estimates as cost cutting measures takeoff
(Reuters) -Jabil reported core quarterly profit slightly above Wall Street estimates on Thursday, as the electronic components maker turned its focus on cutting costs to navigate weak demand in a tough economy.…
Health insurer Centene raises 2024 profit forecast
By Khushi Mandowara (Reuters) -U.S. health insurer Centene Corp on Tuesday raised its 2024 adjusted profit forecast, bringing it broadly in line with Wall Street expectations, mainly due to higher premiums and…
Ken Griffin’s Citadel to return about $7 billion in profit to investors -source
By Carolina Mandl (Reuters) -Billionaire Ken Griffin’s Citadel is planning to give back about $7 billion in profits to investors after a year of double-digit returns, a source familiar with the matter…
Danske Bank ups profit view; sees ‘negligible’ Q4 impairments
COPENHAGEN (Reuters) – Danske Bank on Friday raised its full-year net profit forecast due to more favourable macroeconomic conditions and “negligible” impairments in the fourth quarter, but warned of a high level…
WeWork rival IWG resumes dividends, eyes $1 billion in medium-term profit
(Reuters) – Office rental firm IWG said on Tuesday it will resume regular dividend payouts and set a medium-term core profit target of $1 billion, betting on permanent hybrid work models and…
Jif parent JM Smucker tops profit expectations on easing costs, higher prices
(Reuters) – J.M. Smucker, which owns Jif peanut butter and Dunkin’ pre-made coffee, beat second-quarter profit expectations on Tuesday, helped by higher product pricing and easing input costs. Shares of the Ohio-based…
AutoZone first-quarter profit rises 10% on strong parts demand
(Reuters) – Automotive parts retailer AutoZone on Tuesday posted a better-than-expected 10% rise in quarterly profit as demand for its Do-It-Yourself (DIY) kits benefited from more people maintaining their existing vehicles instead…
National Bank of Canada’s fourth-quarter profit jumps on capital markets strength
(Reuters) – National Bank of Canada reported a rise in fourth-quarter profit on Friday, as a strong performance at its capital markets unit helped offset the hit from bigger provisions. An uncertain…
Goldman Sachs analyst used inside information for profit, London court told
By Sam Tobin LONDON (Reuters) – A former Goldman Sachs analyst used confidential information to make more than 140,000 pounds ($176,800) from shares in listed companies, prosecutors told a London court on…
GM sees EV cost cuts as it looks to profit from green vehicles -CFO
By David Shepardson WASHINGTON (Reuters) – General Motors said on Thursday it expects significant reductions in electric vehicle production costs in 2024 as it boosts output of higher-profit models. GM Chief Financial…
Israel’s Bank Leumi Q3 profit slips as loan-loss provisions soars over war
By Steven Scheer JERUSALEM (Reuters) – Bank Leumi, Israel’s largest lender, reported a slight dip in third-quarter net profit as its provisions against loan defaults jumped tenfold due to the Israel-Hamas war…
Hormel Foods forecasts full year 2024 profit below estimates as consumers cut back
(Reuters) – Skippy peanut butter maker Hormel Foods forecast fiscal year 2024 profit below estimates on Wednesday as consumers reduce spending on its pricier meat products and ready-to-eat meals as well as…
ECB should not set policy based on profit concerns: de Guindos
FRANKFURT (Reuters) – The European Central Bank should not set policy based on consideration about its own profitability or the profits earned by banks, ECB Vice President Luis de Guindos said in…
Israel’s First International Bank Q3 profit dips, default provision jumps
By Steven Scheer JERUSALEM (Reuters) – First International Bank of Israel (FIBI) reported a dip in third-quarter net profit, hurt by a quadrupling of its provisions to protect against future loan defaults…
Rolls-Royce aims to quadruple profit in five years
By Paul Sandle and Sarah Young LONDON (Reuters) -Rolls-Royce aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in…
Rio Rico Man Sentenced to 40 Months in Prison for Transporting Illegal Aliens for Profit
TUCSON, Ariz. – Jesus Moises Ruiz, Jr., 34, of Rio Rico, was sentenced on November 9, 2023, by United States District Judge Scott H. Rash to 40 months in prison. Ruiz pleaded…
NZ Funds says uranium bet returns over 300% profit
By Nell Mackenzie LONDON (Reuters) – Asset manager NZ funds has made a 300% return on its bet that the price of uranium would benefit from supply shortages arising from growing geopolitical…
HP forecasts downbeat first-quarter profit amid slow PC market recovery
By Samrhitha A (Reuters) -HP Inc on Tuesday forecast first-quarter profit below Wall Street estimates but maintained annual earnings outlook, a sign that demand in the personal computers market is still recovering,…
Quebec expects possible profit with planned sale of A220 jet program stake in 2030
By Allison Lampert MONTREAL (Reuters) – Quebec expects to be in the black when it exits its minority stake at the end of the decade in Airbus’s now money-losing A220 narrowbody jet…
Grab sets free cash flow target, posts first adjusted core profit
By Yuvraj Malik (Reuters) -Grab Holdings on Thursday reported its first ever adjusted core profit in the third quarter and predicted free cash flow next year, driven by strong demand for its…
Ross Stores lifts annual profit view on cooling freight, robust off-price demand
(Reuters) – Ross Stores raised its annual earnings forecast after topping third-quarter sales and profit expectations on Thursday, helped by robust demand at its discount outlets and easing freight costs, sending its…
Investec half-year profit jumps 15%
JOHANNESBURG (Reuters) – South African lender Investec on Thursday reported half-year profit up 15.3%, led by increased loan volumes, corporate deposits and funds under management. The bank, which also operates in the…
GKN Aerospace-owner Melrose lifts 2023 profit expectations
(Reuters) – British aerospace supplier Melrose said on Thursday it expected 2023 profit to be 7% higher than its previous expectations, partly driven by stronger aftermarket demand and improved pricing. The owner…
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