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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…
Norway’s DNB beats Q1 profit forecast as economy reopens
OSLO – DNB, Norway’s largest bank, posted better-than-expected first-quarter earnings on Thursday, reflecting a strong Norwegian economy and a high level of activity in the corporate market following an end to pandemic…
How one American toolmaker grows profit in the face of inflation and shortages
By Timothy Aeppel (Reuters) – Surging inflation and snarled supply lines have hit U.S. manufacturers like Snap-on Inc over the past year, but so far haven’t hurt profits. The toolmaker, which turned…
Gold miner Newmont posts fall in first-quarter profit
(Reuters) -Newmont Corp on Friday posted a fall in first-quarter profit, as the world’s biggest gold miner was hurt by lower gold sales volumes. Miners have been dealing with labor disruptions and…
Tesla’s lush profit margin raises sustainability doubts in Wall Street
By Akash Sriram (Reuters) – Tesla Inc’s eye-popping profit margin has raised doubts among Wall Street analysts if the company would be able to keep at it amid rising commodity costs and…
Union Pacific quarterly profit jumps on price hikes, higher shipments
(Reuters) -U.S. railroad operator Union Pacific Corp posted a 21.5% jump in first-quarter profit on Thursday, benefiting from higher shipments due to a rise in U.S. factory production and price hikes. Price…
Weak won fuels Hyundai Motor Q1 profit, offsets chip shortage, costs
By Heekyong Yang SEOUL – Hyundai Motor Co is likely to report a 4% bump in first-quarter profit thanks to a sharply weaker won boosting the value of its exports and offsetting…
United Airlines sees 2nd quarter profit, record revenue on booming travel demand
By Rajesh Kumar Singh CHICAGO – United Airlines Holdings on Wednesday forecast a profit for the second quarter as it expects booming travel demand to generate the highest quarterly revenue in the…
U.S. insurer Travelers’ profit beats on lower catastrophe losses
(Reuters) – Property and casualty insurer Travelers Companies Inc reported a 48% jump in quarterly profit that beat analysts’ estimates on Tuesday, as lower catastrophe-related claims cushioned a hit from investment losses.…
BOJ Gov Kuroda: “recent sharp yen weakening” could impact firms’ profit plans
TOKYO – Bank Of Japan Governor Haruhiko Kuroda said on Monday that the recent sharp weakening in the yen could impact on Japanese firms’ earnings plans. It is desirable that currencies move…
UnitedHealth says deferred care demand not as high as feared, shares rise
By Amruta Khandekar and Bhanvi Satija (Reuters) -UnitedHealth Group Inc on Thursday modestly raised its 2022 profit forecast, saying demand for healthcare procedures deferred during the pandemic was approaching normal levels but…
Australia’s Graincorp raises profit view on Ukraine conflict-led shortage
By Harshita Swaminathan (Reuters) – Graincorp said on Friday it expects underlying profit for fiscal 2022 to be around 2.5 times that of last year, as the Australian agribusiness firm benefits from…
EBRD warns war in Ukraine will impact 2022 finances, after record profit
By Rachel Savage LONDON – The European Bank for Reconstruction and Development said on Thursday that Russia’s war in Ukraine would have a significant impact on its finances this year, as it…
Samsung Elec likely to report highest Q1 profit since 2018 on chips
By Joyce Lee SEOUL – Samsung Electronics Co Ltd is likely to post its highest first-quarter profit since 2018, analysts’ estimates showed, driven by brisk profits on memory chips as solid demand…
Suedzucker’s annual profit jumps nearly 40% on strong sugar, bioethanol performance
HAMBURG – Europe’s largest sugar producer Suedzucker on Monday posted a rise of almost 40% in full year operating profit as improved sugar and bioethanol markets boosted earnings. Group operating profit in…
Property developer China Vanke expects 2022 profit to stabilise
HONG KONG – China Vanke, the country’s No.2 property developer by sales, said on Thursday it expects its net profit to stabilise in 2022 after Chairman Yu Liang apologised to investors for…
Co-Owner of defunct medical testing lab convicted of kickback scheme to profit on urine drug tests for government insurance programs
Seattle – A resident of Astoria, Oregon was convicted this week in U.S. District Court in Seattle of five federal felonies connected to his scheme to profit from illegal kickbacks in the…
H&M seen posting first-quarter profit, Russia clouds outlook
By Anna Ringstrom STOCKHOLM – Sweden’s H&M is seen swinging back to profit in its December-February quarter as pandemic effects ease, though the closure of its Russian stores and the economic fallout…
China’s biggest bank ICBC posts 10.7% rise in Q4 profit
SHANGHAI – Industrial and Commercial Bank of China (ICBC),, the world’s largest-listed lender by assets, reported a 10.65% rise in fourth-quarter net profit on Wednesday. Net profit for the three months ended…
Emirates airline chief sees return to profit next year
By Yousef Saba DUBAI – Dubai’s Emirates expects to significantly reduce losses in the current financial year and return to profit next year, the airline’s president indicated on Tuesday. “We are in…
Top China brokerage CITIC posts 55% rise in 2021 profit on investment gains
BEIJING/SHANGHAI – CITIC Securities Co, China’s biggest brokerage, reported on Monday a 55.01% rise in profit in 2021, led by strong gains in securities investments. Net profit for the 12 months ended…
Chinese pork giant WH Group’s 2021 profit lifted by higher US, European sales
BEIJING – Chinese pork processing giant WH Group Ltd on Monday reported a 7.2% rise in annual profit to $1.043 billion driven by higher sales in the United States and Europe. Revenue…
Chalco’s net profit hits 14-year high after surge in metals prices
By Min Zhang and Twinnie Siu BEIJING/HONG KONG – Aluminum Corp of China Ltd, known as Chalco, said on Tuesday its net income surged 564.6% in 2021 to log its best performance…
Wall Street cuts McDonald’s profit estimates on Russia costs
By Hilary Russ NEW YORK – Wall Street analysts have slashed their forecasts for McDonald’s Corp’s 2022 and 2023 profit, the latest sign that some Western companies stand to take a financial…
Brazil stock exchange operator B3’s profit rises 6% in Q4
By Peter Frontini SAO PAULO – Brazilian stock exchange operator B3 reported on Thursday its recurring net profit for the fourth quarter grew by 6.0%, but was slightly below analysts’ estimates. The…
Lennar forecasts strong Q2 profit on soaring demand for homes
– U.S. homebuilder Lennar Corp on Thursday forecast current-quarter profit above Street estimates, as strong demand for costlier homes continue to buoy its performance amid the supply challenges faced by the industry.…
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