Automakers Could Be Forced To Cut Prices — And Profits — In 2023
Automakers Could Be Forced To Cut Prices — And Profits — In 2023 John Hugh DeMastri on December 27, 2022 Consumers might see car prices …
Profits
Hedge fund Citadel expects to return $7 billion in profits to clients – source
By Carolina Mandl (Reuters) – Hedge fund Citadel expects to return about $7 billion in profits to its investors in the first week of January …
France’s CMA CGM sees profits ebbing as shipping boom fades
PARIS (Reuters) -CMA CGM said it expects a pullback in shipping markets to accelerate in the fourth quarter due to high energy prices and flagging …
Hungary’s banks stable, profits and lending to fall – central bank
BUDAPEST (Reuters) – Hungary’s banking system is stable and has significant reserves to manage risks, the National Bank of Hungary said on Thursday, adding that …
‘Making The Situation Worse’: Trump’s Former Treasury Secretary Hammers Plan To Target Russian Oil Profits
‘Making The Situation Worse’: Trump’s Former Treasury Secretary Hammers Plan To Target Russian Oil Profits Jack McEvoy on November 18, 2022 Former President Donald Trump’s …
Brazil’s Buffett-backed StoneCo nearly doubles profits on more users, bigger prices
SAO PAULO (Reuters) – Brazil’s StoneCo nearly doubled its third quarter profit, the payments firm said on Thursday, as it posted earnings that surged past …
Factbox-Bumper profits fuel surge in dividends, buybacks at oil firms
(Reuters) – Energy firms are using a chunk of their bumper quarterly profits from surging natural gas and fuel prices to reward shareholders with higher …
Biden Threatens To Tax Oil Companies’ ‘Excess’ Profits Unless They Stop ‘War Profiteering’
Biden Threatens To Tax Oil Companies’ ‘Excess’ Profits Unless They Stop ‘War Profiteering’ Jack McEvoy on October 31, 2022 President Joe Biden declared Monday that …
Shanghai food supplier’s books reveal big profits under COVID lockdown
SHANGHAI (Reuters) – The profitability surge of a Shanghai food supplier seeking a Hong Kong listing, disclosed in an exchange filing, gives a rare peep …
Biden says Shell is misusing its profits by not cutting gas prices
SYRACUSE, N.Y. (Reuters) – U.S. President Joe Biden blasted Shell plc on Thursday for funneling profits to shareholders rather than lowering gas prices, after the …
Italian tax authorities investigate Pfizer profits -sources
MILAN (Reuters) – Italy’s tax authorities are investigating profits reported by Pfizer Inc’s local unit Pfizer Italia srl, two sources with knowledge of the matter …
TotalEnergies, Shell post bumper profits, LNG business diverges
By Ron Bousso and Shadia Nasralla LONDON/PARIS (Reuters) – Europe’s two largest energy companies Shell and TotalEnergies reported profits of more than $9 billion in …
ECB closing in on rule change to shave banking profits, sources say
By Balazs Koranyi WASHINGTON (Reuters) – European Central Bank policymakers are closing in on a deal to change rules governing trillions of euros worth of …
IMF sees ad hoc taxes on excess profits as ‘problematic’
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund backs moves by governments to tax companies’ excess profits, but believes such changes must be …
Rate hikes to have limited impact on Indian banks’ profits – Moody’s
BENGALURU (Reuters) – The Reserve Bank of India’s slew of rate hikes this year to combat surging inflation will help lift banks’ net interest margins, …
China state-owned firms’ Jan-August profits down 1.5% y/y
BEIJING (Reuters) – Profits at China’s state-owned firms in January-August fell 1.5% from the same period a year earlier to 3 trillion yuan ($420.8 billion), …
New Ecobank CEO to pursue stabilisation and profits, says group chairman
By Bate Felix DAKAR (Reuters) – The newly appointed chief executive officer (CEO) of pan-African bank Ecobank Jeremy Awori will focus on increasing the bank’s …
Aussie coal miners eye record profits, shareholder returns as prices surge
By Tejaswi Marthi and Harish Sridharan (Reuters) – Australia’s biggest listed coal miners are expected to report record annual profits this week, underpinned by soaring …
Analysis-As earnings support U.S. stock rebound, worries over future profits grow
By Lewis Krauskopf NEW YORK (Reuters) – Stronger-than-expected corporate earnings have helped fuel the rebound for U.S. stocks but some investors are pointing to potential …
Germany’s finance minister says he opposes taxing ‘excessive’ profits
BERLIN – Germany should not tax “excessive” company profits earned amid an economic and energy crisis as that would interfere with market forces, the finance …
Tenaris posts 167% rise in Q2 core profits
(Reuters) – Steel pipe maker Tenaris reported a 167% increase in core profit in the second quarter with sales improving sequentially also thanks to further …
G7 mulls options to restrict Russian oil profits
LONDON -The Group of Seven (G7) wealthy nations is looking at blocking the transportation of Russian oil among other options to deprive Moscow of bumper …
‘More Money Than God’: Big Oil Posts Record-Breaking Profits in Second Quarter
‘More Money Than God’: Big Oil Posts Record-Breaking Profits in Second Quarter John Hugh DeMastri on July 29, 2022 UPDATE: This piece has been updated …
Merck avoided billions in U.S. tax by offshoring Keytruda profits – senator
By Michael Erman (Reuters) – Drugmaker Merck & Co avoided billions of dollars of U.S. taxes in recent years on its top-selling cancer drug Keytruda …
GM’s Profits Take $1 Billion Nosedive Amid Biden-Backed Electric Vehicle Push
GM’s Profits Take $1 Billion Nosedive Amid Biden-Backed Electric Vehicle Push Jack McEvoy on July 26, 2022 General Motors’ (GM) second-quarter net earnings plummeted 40% …
Rio Tinto, Fortescue record profits near end on price view, dim demand
By Sameer Manekar and Shashwat Awasthi (Reuters) – Australian iron ore miners Rio Tinto and Fortescue Metals Group Ltd are unlikely to see a repeat …
Global gasoline cracks collapse, blow to refiners’ profits
By Mohi Narayan, Laura Sanicola and Shadia Nasralla (Reuters) – A sudden crash in global gasoline prices in the past two weeks has dented refiners’ …
As Americans Continue to Suffer, Federal Lobbyists Are Raking in Massive Profits: DC Lobbyists
As Americans Continue to Suffer, One Industry is Raking in Massive Profits: DC Lobbyists Max Keating on July 22, 2022 Federal lobbyists have made huge …
France urges more inflation relief from firms making big profits on energy crisis
PARIS – The French government on Thursday urged companies whose profits have surged during the inflation crisis to do more to help households cope as …
Putin Can Afford To Shut Off Europe’s Gas Thanks To Record Energy Profits
Putin Can Afford To Shut Off Europe’s Gas Thanks To Record Energy Profits Jack McEvoy on July 19, 2022 Russia profited massively off its oil …
Major US Bank Sees Profits Nosedive As Recession Fears Grow
Major US Bank Sees Profits Nosedive As Recession Fears Grow Jack McEvoy on July 14, 2022 JPMorgan Chase, the largest U.S. bank, announced a 28% …
Investors Will Have Option For Fund Focused On Profits, Not Activism
Investors Will Have Option For Fund Focused On Profits, Not Activism Max Keating on July 13, 2022 Investors might soon have the option to put …
Exxon signals operating profits could double over the first quarter
By Sabrina Valle HOUSTON -Exxon Mobil Corp on Friday signaled that skyrocketing margins from fuel and crude sales could generate a record quarterly profit, according …
Asian companies’ profits drop for first time in 7 quarters
By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Earnings by Asian companies in March declined for the first time in seven quarters, dented by slowing …
Facing record inflation, Biden chides Exxon, oil companies for profits
By Trevor Hunnicutt and Jarrett Renshaw LOS ANGELES -U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, …
Asia’s jet fuel refining profits hit all-time record, seen climbing further
By Koustav Samanta SINGAPORE – Asian jet fuel refining profits – already at all-time highs – have enough leg room for more gains in the …
Moscow expects big jump in profits from energy exports in 2022
(Reuters) -Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump …
JPM says Japanese automakers to see record profits on price hikes, cost cuts
(Reuters) – Japanese auto companies are likely to post record profits this year as they raise vehicle prices and cut costs to mitigate the hit …
Fertilizer sector set for biggest profits in years on Russia-Ukraine conflict
By Ruhi Soni (Reuters) – Fertilizer makers are set to post their biggest quarterly profits in years, following a supply squeeze of essential crop nutrients …
Goldman CEO, top deputies to get cut of profits from bank’s private investment funds – WSJ
(Reuters) – Goldman Sachs Chief Executive David Solomon and his top deputies will get a part of profits from the bank’s private investment funds, the …
Biden says U.S. oil companies sitting on record profits
WASHINGTON – President Joe Biden on Thursday accused U.S. oil companies of enjoying record profits while Americans pay high gasoline prices and said they should …
Shell to put profits from Russian oil trade into Ukraine aid fund
By Ron Bousso LONDON – Oil major Royal Dutch Shell will put profits from any Russian oil it purchases into a fund that will go …
French company Thales’ annual core profits rise 32%
PARIS – Thales posted a 32% rise in operating income and record cashflow, as Europe’s largest defence electronics company swung back into the black in …
Exclusive-Tax energy firms’ windfall profits to raise green cash, EU to tell countries – sources
By Foo Yun Chee and Kate Abnett BRUSSELS – The European Commission will propose that member countries tax the profits energy companies made from recent …
Chile copper giant Codelco profits surge on higher metals prices
By Fabian Cambero and Anthony Esposito SANTIAGO – Pre-tax profits for the world’s largest copper producer Codelco surged to $7.4 billion in 2021 from $2.1 …
HeidelbergCement sees higher sales, profits in 2022
HeidelbergCement HEIG.DE, the world’s second-largest cement maker, expects both sales and core profit to rise in 2022 on the back of global infrastructure programmes and …
London-listed Coca-Cola HBC readies Russia contingencies as profits rise
By Amna Karimi – Coca-Cola HBC said on Tuesday it had contingency plans to cope with the escalating Russia-Ukraine crisis, as the London-listed soft drinks …
Price increases to help Michelin exceed pre-pandemic profits this year
PARIS – Michelin expects this year’s profits to exceed pre-pandemic levels, the French tyre maker said on Monday, as it posted better-than-expected 2021 results helped …
Chipotle profits beat expectations despite higher costs, Omicron
By Praveen Paramasivam and Hilary Russ – Chipotle Mexican Grill Inc beat Wall Street estimates for quarterly profits and comparable sales on Tuesday as higher …
Tyson Foods’ beef profits expected to amplify concerns about high meat prices
By Tom Polansek CHICAGO – Tyson Foods Inc is expected to post strong results for its beef business in a quarterly earnings report on Monday, …