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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…
Malaysia’s AirAsia X completes debt restructure, to write back nearly $8 billion to profit
– Malaysia’s Airasia X (AAX) said on Wednesday it had completed its debt restructuring, and will write 33 billion ringgit ($7.86 billion) back to profits in the next quarter. Under the airline’s…
Volkswagen returns to profit in North and South America
BERLIN – The Volkswagen Group achieved a 16% market share in China in 2021 and the VW brand returned to profit in North and South America, the German carmaker said on Tuesday.…
Atlantia sees 27% rise in profit to 2024 as it opens new chapter
By Francesca Landini and Valentina Za MILAN – Italy’s Atlantia expects its core profit to rise by 27% by 2024, it said on Friday, as traffic on motorways and in airports it…
Deutsche Bank raises profit target for 2025
FRANKFURT – Deutsche Bank is aiming for higher annual revenue and a lower cost-to-income ratio by 2025, Germany’s largest lender said on Thursday as it mapped out its financial plans for the…
Brazil’s Embraer reports Q4 net profit of $2.1 million
By Gabriel Araujo and Peter Frontini SAO PAULO – Brazilian planemaker Embraer SA on Wednesday reported net profit of 11.1 million reais ($2.1 million) in the fourth quarter, up from a 7.7…
Prudential flags Ukraine conflict risks after 2021 profit rise
By Selena Li and Carolyn Cohn HONG KONG/LONDON -Prudential PLC notched up a 16% rise in 2021 operating profit after it strengthened its focus on Asia, though it warned of implications for…
Africa’s MTN resumes dividend after bumper annual profit
By Nqobile Dludla JOHANNESBURG – Africa’s largest mobile operator by subscribers, MTN Group, resumed annual dividends on Wednesday, declaring a higher payout than previous guidance as a divestment plan made progress and…
Chile’s Cencosud reports Q4 net profit of $249 million
– Chilean retailer Cencosud on Thursday posted a fourth quarter net profit of $249 million, boosted by improved revenues in the countries it operates, which also include Argentina, Peru, Brazil and Colombia.…
Bank of Ireland posts highest profit in more than a decade
DUBLIN – Bank of Ireland on Monday posted its biggest annual profit since the global financial crisis more than a decade ago and said it plans to return of 104 million euros…
Rightmove forecasts strong housing market after 2021 profit surge
– British real-estate portal Rightmove said on Friday it expects transaction levels to return to pre-pandemic levels this year, dispelling concerns about a slowdown driven by rising inflation and a higher cost…
Australia’s Lynas posts record profit on rare earths demand
– Australia’s Lynas Rare Earths Ltd posted a record first-half profit on Friday, helped by a surge in demand for the minerals used in electric vehicles amid a global push for reducing…
MP Materials reports higher profit as rare earth prices surge
– U.S. rare earth miner MP Materials Corp on Thursday posted a higher fourth-quarter profit, helped by rising prices for the minerals used to make high-end electronics and weaponry. Rare earths are…
EOG Resources posts higher profit as crude prices scale multi-year highs
– U.S. shale oil firm EOG Resources Inc on Thursday reported a jump in fourth-quarter profit as crude prices soared to multi-year highs following a rebound in demand as the pandemic ebbs.…
Occidental Petroleum posts profit on soaring crude prices
– U.S. shale producer Occidental Petroleum Corp on Thursday reported a fourth-quarter profit compared with a year-ago loss, as a recovery in demand has driven crude prices to multi-year highs from pandemic-driven…
Brazilian brewer Ambev’s profit slumps in sector-wide decline
SAO PAULO – Brazilian brewer Ambev SA’s fourth-quarter net income fell 45.6% from a year earlier to 3.75 billion reais ($748.55 million), it said on Thursday, citing widespread deceleration across the industry.…
Britain’s Lloyds profit recovery marred by fraud costs
By Iain Withers and Lawrence White LONDON -Britain’s largest high street bank Lloyds posted a jump in annual profits on Thursday but was dented by further costs for past misdeeds, as the…
France’s Bouygues sees 2022 growth after return to pre-pandemic profit
– Bouygues should grow its sales and core profit further in 2022, the French conglomerate said on Thursday, as it posted annual earnings that surpassed expectations to land ahead of their pre-pandemic…
France’s Axa doubles 2021 profit, raises financial goals
PARIS -Axa reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis. The company, Europe’s…
Deutsche Telekom core profit, revenue beat estimates
STOCKHOLM/BERLIN – Deutsche Telekom reported quarterly core profit and revenue above market estimates on Thursday, boosted by its U.S. unit, T-Mobile along with growth in European business. Adjusted earnings before interest, tax,…
Hong Kong bourse operator’s annual net profit rises 9%
HONG KONG – The Hong Kong stock exchange operator’s 2021 net profit rose 9% but missed expectations, as China’s regulatory crackdowns resulted in fewer listings and struggling markets hurt its investment income.…
Brazil’s GPA posts 107.7% increase in 4th-quarter net profit
– Brazilian food retailer GPA reported on Wednesday a net income of 777 million reais ($155.10 million) in the fourth quarter of 2021, a 107.7% increase over the same quarter in the…
Chesapeake Energy reports higher profit on soaring crude prices
– Shale oil and gas producer Chesapeake Energy Corp said on Wednesday its quarterly adjusted profit rose 14.5% in the fourth quarter from the third, helped by a surge in energy prices…
Broker Peel Hunt flags profit miss on delay in investment banking deals
– British broker Peel Hunt said on Wednesday it expected full-year earnings to miss analyst views, hurt by deal delays in its investment banking unit and a slowdown in its trading division,…
Spain’s Rovi raises guidance after 2021 profit jumped 151%
MADRID – Spanish pharmaceutical group Rovi raised its 2022 revenue guidance as it posted a 151% jump in annual net profit on Wednesday, citing strong growth in contract manufacturing and specialty pharmaceuticals.…
Telefônica Brasil posts 103.2% growth in Q4 net profit
– Telefonica Brasil on Tuesday reported its quarterly net profit rose 103.2%, helped by a tax credit recognition of 1.4 billion reais. The telecoms operator’s fourth quarter net profit of 2.628 billion…
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