Top Chinese EV Maker Posts Massive Profits Amid Quest To Sneak Into US Market
BYD, China’s top electric vehicle (EV) maker, recorded a substantial increase in profits in its 2023 annual report published on Tuesday. BYD previously dethroned billionaire Elon Musk’s Tesla as the worldwide industry…
Weaker fuel prices, outages to hit US refiners’ fourth quarter profits
By Laura Sanicola (Reuters) – U.S. oil refiners are expected to report another quarter of lower earnings versus year-ago levels due to weaker fuel prices and after a proliferation of plant outages,…
Global equity funds see significant outflows as investors book year-end profits
(Reuters) – Global equity funds saw significant withdrawals in the week up to Dec. 20 as investor enthusiasm over potential rate cuts waned and profit-taking set in ahead of the year-end holidays.…
South Korea banks pledge $1.5 billion for small businesses amid push to share profits
SEOUL (Reuters) – South Korea’s commercial banks will provide 2 trillion won ($1.53 billion) to support small businesses, the organisation representing the lenders said on Thursday, amid political and regulatory pressure to…
U.S. bank profits slow on lower noninterest income, higher realized losses
By Pete Schroeder WASHINGTON (Reuters) – U.S. banks reported Wednesday a slowdown in profits in the third quarter of the year, as lower noninterest income and higher realized losses on bank investments…
Canada banks’ quarterly profits seen hit by rising provisions
By Nivedita Balu TORONTO (Reuters) – Canada’s big banks are likely to wrap up a challenging financial year with another quarter of declining profits and rising bad debt provisions amid a slowing…
Alpha Bank, Piraeus Bank profits up on higher interest rates
By Lefteris Papadimas ATHENS (Reuters) – Alpha Bank and Piraeus Bank reported on Friday a jump in profits for the first nine months of 2023 as higher rates boosted net interest income…
Mexican drinks seller Arca profits rise on ‘surprise’ sales volumes
MEXICO CITY (Reuters) – Mexican bottler Arca Continental said on Thursday its third-quarter net profit rose 7% as it sold more water and soft drinks than expected in its home market and…
Rheinmetall Q3 profits jump on strong ammunition sales
BERLIN (Reuters) – German defence contractor Rheinmetall said on Wednesday its third-quarter profitability jumped on strong demand for weapons and ammunitions, with operating profit expected to top consensus estimates by 15%. The…
Profits of US mid-sized banks likely to be squeezed by higher funding costs
By Manya Saini and Niket Nishant (Reuters) – U.S. mid-sized banks will likely need to shell out more to retain deposits in the next few months, a move that could crimp margins…
Japan maintains modest economic recovery view, raises corp profits assessment
TOKYO (Reuters) – Japan retained its view of a modest recovery in the world’s third-biggest economy, but upgraded its assessment of corporate earnings for the first time since March 2022 even as…
Aussie grocers to reap upbeat profits on sticky inflation; consumer behaviour key
By Himanshi Akhand and John Biju (Reuters) – Australian supermarkets are set to report stronger full-year earnings as decades-high inflation propped shelf prices, but outlook on consumer behaviour with rising borrowing costs…
Defense Company Profits Leveled Off But Stocks Soared In 2022
Defense Company Profits Leveled Off But Stocks Soared In 2022 Micaela Burrow on August 7, 2023 Defense companies raked in similar profits on weapons sales in 2022 compared to the year prior…
US banks may take up to 4 years to set aside profits for new capital rules
By Tatiana Bautzer and Pete Schroeder NEW YORK (Reuters) – U.S. banking giants may take up to four years to set aside profits to meet new capital rules, according to a report…
US fuelmaker profits to fall from last year’s records
By Laura Sanicola (Reuters) – U.S. refining profits are expected to fall from last year’s records but remain strong as domestic refining outages and increased foreign competition pose challenges. Refiners have come…
Largest US Bank Notches Massive Profits Following Government-Assisted Acquisition
Largest US Bank Notches Massive Profits Following Government-Assisted Acquisition Will Kessler on July 14, 2023 The biggest bank in America announced huge profits Friday after previously striking a deal with federal regulators…
STEPHEN MOORE: Biden Declares War On Profits
STEPHEN MOORE: Biden Declares War On Profits Stephen Moore on July 11, 2023 White House press secretary Karine Jean-Pierre recently reiterated a point the Biden White House has been making for the…
OECD sees scope for profits to absorb wage hikes
PARIS (Reuters) – Companies in most countries have enough profit to be able to absorb an increase in wages needed for staff to cope with high inflation, the Organisation for Economic Cooperation…
Brands focus on stories in refining China livestreaming to boost profits
By Casey Hall SHANGHAI (Reuters) – When tech giant Apple joined China’s livestreaming frenzy, a major driving force of the e-commerce boom in the world’s second biggest economy, it launched without deep…
Brahman Capital shuts hedge fund as profits dry up – Bloomberg News
(Reuters) – New York-based investment management company Brahman Capital Corp is closing one of its equity hedge fund and returning cash to its clients, Bloomberg News reported on Thursday, citing people familiar…
Chile’s lithium giant SQM sees profits dip, despite uptick in prices
(Reuters) -Chile’s SQM, the world’s second-largest lithium producer, said on Wednesday that its first-quarter net profit slid almost 6% compared to the year-ago period to total nearly $750 million. Revenue for the…
Deutsche Bank investors ask if profits sustainable, question strategy
By Tom Sims FRANKFURT (Reuters) -Deutsche Bank investors on Wednesday questioned the sustainability of the lender’s growth plans and called for a shift of resources from the investment bank, even as they…
Colombia’s Grupo SURA nearly doubles profits in first quarter
(Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, almost doubled in the first quarter compared to the year-ago period, the company said in a filing on Monday, pointing in…
Shrinking US cattle herd squeezes meatpacker profits
By Tom Polansek CHICAGO (Reuters) – U.S. cattle producer Brad Kooima declined multiple, escalating bids from meatpackers seeking to buy his livestock to hold out for higher prices. His bargaining power is…
Factbox-Short sellers rake in $1.2 billion in profits as US regional bank stocks suffer
(Reuters) – Short sellers have pocketed $1.2 billion in paper profits betting against U.S. regional lenders in the first two days of May, analytics firm Ortex said, as the third major regional…
Supreme Court To Decide Whether Gov Can Seize 94-Year-Old’s Home, And Keep The Profits
Supreme Court To Decide Whether Gov Can Seize 94-Year-Old’s Home, And Keep The Profits Katelynn Richardson on April 25, 2023 The Supreme Court is set to hear arguments Wednesday about a 94-year-old…
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