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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…
Canadian banks set for 1st-qtr profit growth, but costs, margins could deal blow
By Nichola Saminather TORONTO – Canadian banks are set to report higher first-quarter earnings from a year ago, thanks to low provisions for credit losses and improving loan demand, but rising costs…
Brazil wholesaler Assai posts 76% increase in Q4 net profit
– Brazilian wholesaler Assai posted on Monday fourth-quarter net income of 527 million reais ($103.26 million), beating estimates as store openings accelerated.Net income rose 76% from a year earlier, above a Refinitiv…
S.Africa’s Discovery forecasts jump in half-yearly profit
– South African insurer Discovery forecast on Friday a higher half-yearly profit, supported by new clients at its health insurance business and adequate provisions to cushion the impact of coronavirus-related claims. The…
Sime Darby Plantation posts Q4 profit, says output to pick up
KUALA LUMPUR – Malaysia’s Sime Darby Plantation Berhad reported a higher fourth-quarter net profit on Friday, fuelled by rising prices of palm oil, and said it expected production to pick up in…
Africa’s MTN flags annual profit rise of up to 35%
JOHANNESBURG – Africa’s largest mobile operator by subscriber numbers, MTN said on Friday its profits for the year to Dec. 31 would probably rise by up to 35%, without giving a reason.…
Israel’s Tower Semiconductor profit jumps amid pending sale to Intel
JERUSALEM – Tower Semiconductor on Thursday reported a higher than expected rise in quarterly profit, days after Intel Corp said it planned to buy the Israeli chipmaker. The company, previously called TowerJazz,…
AIG profit beats estimates on general insurance strength
– U.S. insurer American International Group Inc topped fourth-quarter profit expectations on Wednesday as it benefited from strong underwriting and lower catastrophe losses at its general insurance business. Catastrophe losses came in…
Italy’s Saipem to rethink green drive after profit warning, sources say
By Stephen Jewkes MILAN – Italy’s Saipem is set to take a more cautious approach to new green business after delays to a wind farm project helped to tip the energy contractor…
Brazil’s Itausa Q4 recurring profit jumps 53%
By Peter Frontini SAO PAULO – Brazilian holding company Itausa SA on Monday posted a 53% jump in its fourth-quarter recurring profit, mainly helped by gains with lender Itau Unibanco Holding SA…
Banco do Brasil sees 2022 profit up 24%
By Carolina Mandl SAO PAULO – Brazilian state-controlled lender Banco do Brasil SA said in a filing on Monday that its 2022 net income is likely to rise by up to 23.7%…
France’s Credit Agricole beats profit target a year early
LONDON -Credit Agricole SA beat its 2022 profit target a year early as lower costs for troubled loans and rising revenues across business lines boosted fourth-quarter results beyond consensus, France’s second-biggest listed…
CME profit tops views as investors ready for rate hikes, shares hit record high
By John McCrank NEW YORK – CME Group Inc on Wednesday reported a fourth-quarter profit that topped Wall Street expectations, helped by increased usage of the futures exchange operator’s interest rate hedging…
Lyft’s weak rider numbers, Omicron hit outweigh first full-year profit
By Tina Bellon and Nivedita Balu -Lyft Inc’s first full-year adjusted profit and a spike in pricey airport trips were overshadowed by a drop in ridership due to Omicron, which management on…
BP Oil Rakes In Biggest Profit Since 2013
Big Oil corporation BP reported its highest quarterly earnings in eight years in 2021, buoyed by diminished supply and increasing prices worldwide. BP earned a whopping $12.8 billion in profit last year,…
Aurubis confirms 85% quarterly profit rise, raised earnings forecast
HAMBURG -Aurubis AG, Europe’s largest copper producer, on Monday confirmed an 85% rise in quarterly profits and reiterated increased full-year earnings estimates as high metal prices and strong output boosted results. Aurubis…
James Hardie sets higher profit view as U.S. housing market boom continues
– James Hardie, the world’s largest fibre cement maker, on Monday raised its annual profit forecast for the fourth time this fiscal year, and guided to even higher earnings next year, driven…
Gatwick-owner Vinci sees 2022 profit surpassing pre-pandemic levels
-France’s Vinci expects net income this year to exceed its pre-pandemic level in 2019, helped by a recovery in its airports arm that should bring those earnings close to breakeven. Although earnings…
Hershey forecasts annual profit above estimates on prices increases
– Hershey Co forecast full-year profit above Wall Street estimates on Thursday, driven by higher prices for its chocolates and candies to counter inflationary pressures and strong holiday demand. Packaged food makers…
Swisscom names Aeschlimann CEO, one-offs swell 2021 net profit
ZURICH – Swisscom named Christoph Aeschlimann as new chief executive on Thursday to succeed Urs Schaeppi when he steps down on June 1 after nine years in the post, the company said…
Builder Skanska’s profit beats forecasts
STOCKHOLM – Sweden’s Skanska reported on Thursday a quarterly profit above market expectations, and said market activity in construction had picked up gradually during the year. Fourth-quarter operating profit at the Nordic…
Insurer MetLife’s quarterly profit beats on higher investment gains
– MetLife Inc’s fourth-quarter profit rose nearly 7% to surpass Wall Street estimates on Wednesday, as strong investment gains cushioned the hit from higher pandemic-related claims in some parts of its business.…
Homebuilder DR Horton first-quarter profit jumps
– D.R. Horton Inc posted a 44.2% rise in quarterly profit on Wednesday, benefiting from record-high property prices and lower interest rates on home loans. Net income attributable to the largest U.S.…
Novozymes reports Q4 operating profit below estimates
COPENHAGEN – Enzymes maker Novozymes on Tuesday reported fourth quarter operating profit slightly below expectations but said it expected sales to grow organically by between 3-7% in the next financial year. The…
Autoliv profit tops forecasts
STOCKHOLM – Sweden’s Autoliv, the world’s largest producer of airbags and seat belts, reported higher than expected fourth-quarter earnings on Friday and said it expected around 20% organic sales growth in 2022.…
Steelmaker POSCO’s 2021 profit jumps on strong demand
By Joyce Lee and Heekyong Yang SEOUL -South Korean steelmaker POSCO’s operating profit more than tripled to a record 9.2 trillion won ($7.62 billion), boosted by strong demand and higher prices of…
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