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…
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 and gas sales throughout the ongoing global…
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% decline in its second-quarter profits Thursday as…
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 their money in a new exchange-traded-fund (ETF)…
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 to a securities filing. Energy prices have…
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 demand due to lockdowns in China and…
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, of capitalizing on a supply shortage to…
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 coming weeks, as relaxed border curbs boost…
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 in profits from energy shipments this year.…
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 from soaring inflation, J.P. Morgan analysts said…
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 due to the Ukraine crisis, according to…
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 Wall Street Journal reported on Tuesday, citing…
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 use the money to produce more oil…
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 towards humanitarian aid to Ukraine, the company…
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 its aerospace business and saw higher margins…
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 gas price spikes and invest the revenue…
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 billion a year earlier, boosted by high…
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 continuing demand for new homes. “Due to…
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 bottler reported a surge in annual profit…
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 by volume and price increases that offset…
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 demand and prices for its burritos and…
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, as the Biden administration’s criticism of high…
N95 Mask Manufacturer 3M’s Sales Explode After Omicron Surge, Expects Further Profits Following CDC Shoutout
A major N95 mask manufacturer saw a rise in sales during the Omicron variant surge and expects to profit further from new guidance issued by the Centers for Disease Control and Prevention…
Cuomo Forced To Give Up $5 Million Profits From Pandemic Book
The New York Joint Commission on Public Ethics (JCOPE) ordered former Gov. Andrew Cuomo on Tuesday to pay back over $5 million in book profits, the New York Post reported. JCOPE approved…
‘Effectively Overcharges Seniors’: AARP Rakes In Record Profits Selling Brand Royalties While Overcharging Members
The American Association of Retired Persons (AARP) raked in massive profits in 2020, mostly from royalties on branded health insurance policies, not memberships, according to company financial documents. AARP’s 2020 Form 990…
Facebook Whistleblower Says Company ‘Paying For Its Profits With Our Safety’
Facebook knowingly chooses to prioritize its profits over the safety of its users, Frances Haugen, a whistleblower and former Facebook employee, said in an interview with “60 Minutes” on Sunday. “The thing…
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