James Appleby is a journalist and author. His articles on the wildlife of the United Kingdom have been published in Euronews and New Nature.

****

OBR cuts economic growth forecast

01 Dec 2023  |  www.teeslaw.com  |  English  |  Corporate Earnings

The Office for Budget Responsibility (OBR) has revised the UK's economic growth forecast, predicting slower growth over the next two years. Chancellor Jeremy Hunt presented these projections, with an expected expansion of 0.6% in 2023, 0.7% in 2024, and 1.4% in 2025. The Bank of England (BoE) shares a similar outlook, with Governor Andrew Bailey highlighting challenges in achieving growth. The UK's inflation rate has seen a sharp decline, with the Consumer Prices Index (CPI) dropping to 4.6% in October, but the BoE warns that reducing it to the target rate will be difficult. Financial markets ended November positively, influenced by easing inflation in the EU and US. Pay growth in the UK is outpacing inflation, with real wages rising at the fastest rate in two years. Retail sales, however, have continued to fall, with no immediate signs of recovery. The article also mentions the upcoming increase in the National Living Wage and provides financial market data as of 31/10/23.

Tags:

Corporate Earnings Economic Growth Forecast Inflation Rate Consumer Price Index Interest Rates Retail Sales National Living Wage Financial Markets

Marco Babic is a journalist based in Pfäffikon, Switzerland specializing in economics, central banks and statistics. Also translating from German into English.

UBS ends bank run on Credit Suisse

05 Oct 2023  |  finews.ch  |  German  |  Corporate Earnings

UBS has successfully stabilized Credit Suisse's business following the bank run in March, with significant new money inflows recorded in the second quarter. UBS reported a record $18 billion in new deposits, with positive momentum continuing into the third quarter. The Global Wealth Management division, led by Iqbal Khan, saw the highest net new money inflow in a second quarter over the past decade. However, the Americas region experienced outflows. UBS aims to achieve a cost-to-income ratio of less than 70% and a return on equity of 15% by 2026.

Tags:

Corporate Earnings Banking Financial Stability

Informative

Factuality Scale

I am a multilingual reporter currently on leave of absence from Dow Jones Newswires and The Wall Street Journal, where I covered the European pharmaceutical industry, healthcare and various business topics for the past three and a half years.
 
At the moment I am pursuing freelance writing and ...

UBS Posts Record $29 Billion Net Profit; To Retain Credit Suisse Domestic Bank

31 Aug 2023  |  www.advfn.com  |  English  |  Corporate Earnings

UBS reported a record second-quarter net profit of $28.88 billion, largely due to the acquisition of Credit Suisse, which contributed nearly $29 billion in negative goodwill. The bank will retain Credit Suisse's domestic bank, a key asset, despite potential job losses. UBS has increased its cost-saving estimates to $10 billion and expects positive net new asset flows and higher asset valuations in its wealth and asset management divisions. The integration process will continue, with Credit Suisse operating separately until 2024 and its brand remaining until 2025.

Tags:

Corporate Earnings Banking Mergers & Acquisitions

Factual

Factuality Scale

Piero Cingari is an accomplished financial writer and analyst with a rich background in covering financial and economic themes. He holds master's in economics from the University of Bologna. He began as a bond/FX strategist at AcomeA SGR, later covering currencies and commodities at Capital.com. ...

Bitcoin Debuts On Wall Street, Inflation Spikes, Apple And Tesla Skid: This Week In The Markets

01 Jan 2024  |  www.benzinga.com  |  English  |  Corporate Earnings

The SEC approved the trading of spot Bitcoin ETFs, with significant inflows on their initial trading day. Inflation rose unexpectedly, and mixed bank results were reported, with some banks showing robust earnings while others faced revenue dips and job cuts. A study predicts a $1-trillion boost to the U.S. economy from generative AI, but with potential job disruptions. Google's mass layoffs have caused uncertainty, while Microsoft briefly overtook Apple as the world's most valuable company. Tesla cut prices for its EVs in China to enhance competitiveness.

Tags:

Corporate Earnings Cryptocurrency Inflation Artificial Intelligence Employment

Informative

Factuality Scale

Steve Goldstein is European bureau chief for MarketWatch and is able to discuss topics ranging from economics to corporate results. Comfortable discussing the latest U.S. business news to a global audience.

Resist Buying U.S. Stocks and Treasurys, Morgan Stanley Says. What They Recommend.

15 Jan 2024  |  barrons  |  English  |  Corporate Earnings

The article discusses the performance of U.S. stocks over the past two years, highlighting their success as an investment. The positive trend is attributed to the recovery of corporate earnings following the impact of the coronavirus pandemic. Additionally, factors such as low-interest rates and fiscal stimulus measures are recognized for contributing to the heating up of the global economy, which in turn has supported the bullish stock market.

Tags:

Corporate Earnings U.S. Stocks Investment Coronavirus Pandemic Low-Interest Rates Fiscal Stimulus Global Economy

London based journalist reporting on sustainability in aviation and key financial developments in business aviation, helicopters, superyachts and future of flight including drones and other technologies.

Freelance journalist currently based in Mumbai, India. Write on international relations & and geopolitics with its relation to business. Covers various sectors of business, including oil & gas, defense, banking & finance, telecom & IT, among others. 
For the past 3 years, have been closely ...

Stable crude price will bring capex back: L&T Hydrocarbon

12 Oct 2017  |  BusinessLine  |  English  |  Corporate Earnings

L&T Hydrocarbon Engineering Ltd (LTHE), a subsidiary of Larsen & Toubro, has won a ₹1,150 crore contract for ONGC’s Daman Development Project. This follows a recent ₹1,700 crore EPC order from Kuwait Oil Company. LTHE has seen a significant turnaround in its business, with a 19% revenue growth last fiscal year and improved margins. The company's CEO, Subramanian Sarma, discussed the industry's outlook and LTHE's transformation plan, which includes business consolidation to be completed by March 2018. LTHE's order book was ₹23,026 crore as of June 30, with over half of the revenue coming from international markets.

Tags:

Corporate Earnings Business Oil and Gas Industry

Eva Levesque is a journalist and producer based in Abu Dhabi, United Arab Emirates.

SLB predicts record Middle East oilfield services revenue

30 Oct 2023  |  AGBI  |  English  |  Corporate Earnings

SLB, the world's largest oilfield services company, is expecting record revenue growth in the Middle East, driven by increased oil and gas production capacities in the region. The company's international revenue rose by 12% to $6.6 billion in the third quarter, with significant growth in Saudi Arabia, the UAE, Kuwait, and Egypt. SLB's Middle East operations contribute to about 30% of its overall revenue. The company has secured several contracts in the region, including a five-year agreement with Adnoc, a deal with QatarEnergy, and a service agreement for Saudi Aramco's Jafurah gas project. SLB is also looking at opportunities in Iraq following a $27 billion deal by TotalEnergies and in Egypt, where the government and major energy companies have shown renewed interest in gas. SLB is rebranding as a technology company and focusing on low carbon and decarbonization projects, including a carbon capture and sequestration project with Saudi Aramco and Linde.

Tags:

Corporate Earnings Oil and Gas Industry Energy Sector Sustainability and Environment

Mary Mundeya is a journalist based in Harare, Zimbabwe.

Shopify President says international business is a 'massive area of growth'

03 Oct 2023  |  vnexplorer.net  |  English  |  Corporate Earnings

Shopify President Harley Finkelstein emphasized the significant growth potential in international markets for the e-commerce platform, aiming to make global sales as seamless as local transactions. The company serves a diverse range of clients, from small merchants to large brands like Suntory and Nike Strength, and is expanding into business-to-business sales. Despite beating Wall Street's earnings expectations, Shopify's shares fell due to mixed guidance for the current period.

Tags:

Corporate Earnings E-commerce International Business

Informative

Factuality Scale

Graduate Student at Columbia Journalism School, Contributor for Standard Newspaper (Kenya), Member of Overseas Press Club of America, National Association of Black Journalists (NABJ), Bloomberg Media Initiative Africa (BMIA) Financial Journalism Training Alumnus, Pulitzer Africa Scholar, Simon and ...

Wells Fargo, JPMorgan Lead Bank Bond Sales After Earnings

16 Oct 2023  |  www.fa-mag.com  |  English  |  Corporate Bonds

Wells Fargo & Co. and JPMorgan Chase & Co. are actively participating in the US investment-grade market by issuing bonds after their third-quarter earnings reports. Despite high borrowing costs, they are driven by the need to meet total loss-absorbing capacity (TLAC) requirements. Wells Fargo is issuing $6 billion of bonds, and JPMorgan is offering $7.25 billion in bonds. Analysts suggest that banks are borrowing in anticipation of future higher costs and regulatory needs. The recent earnings reports have been positive, potentially leading to more bond issuance. US companies have raised less capital than expected this month, but issuance may increase as more banks report earnings. Financial sector bonds have been performing well due to a lack of supply and are considered a safe haven by investors.

Tags:

Earnings Reports Corporate Bonds Finance Banking Debt Markets

Faustine Ngila is Kenya's renowned technology journalist based in Nairobi.
He has reported widely on the Fourth Industrial Revolution, covering emerging technologies and innovations in Kenya and Africa.
He writes for the Daily Nation, Business Daily, Taifa Leo and The East African. He is one of a ...

Lyft doesn't mind its drivers earning less and less

08 Aug 2023  |  qz.com  |  English  |  Driver Earnings

Lyft is shifting its pricing policy to end surge pricing, aiming to attract more riders even if it means lower earnings for drivers. Despite a 5% decrease in revenue per driver, the company saw a rise in active riders and quarterly revenue. CEO David Risher believes this strategy will help retain riders, although it contrasts with previous profitability approaches. The move is seen as a way to compete with Uber, but it may lead to unsustainable driver supply as drivers protest low wages and high commission rates.

Tags:

Corporate Strategy Driver Earnings Ride-Hailing Industry

Interpretive

Factuality Scale

Peter Noronha is a journalist based in Goa Velha, India.

Sensex Ends 500 Points Lower; Hindustan Unilever, NTPC, L&T Top Losers

20 Oct 2021  |  NDTV Profit  |  English  |  Corporate Earnings

The domestic stock markets fell nearly one percent, marking the second consecutive session of losses due to profit-booking at higher levels. The BSE Sensex dropped 456 points to 61,259, while the NSE Nifty fell 152 points to 18,267. All BSE sectoral indices ended in the red, with IT shares hit hardest. Market experts attribute the volatility to profit-booking and await corporate views on September-quarter earnings, anticipating margin pressures due to higher commodity costs. Hindustan Unilever, NTPC, and L&T each shed around 2 percent. Hindustan Unilever reported an 8.86 percent profit growth but warned of margin pressures. IRCTC's stock plunged 17 percent, continuing its decline from the previous session.

Tags:

Corporate Earnings Stock Market

Informative

Factuality Scale

Emily Spaven is a journalist based in London, United Kingdom. She has most recently worked as an editor, writer and subeditor for FinTech news site CoinDesk. 

She has also worked as a copywriter at Google and a writer/editor at two start-up companies. Emily's articles on all areas of personal ...

A £40m acquisition, Apple's impressive results, rogue Facebook chatbots and more in The Week in Tech

04 Aug 2017  |  UKTN  |  English  |  Corporate Earnings

Over £86m was secured in UK tech funding, including Carwow's £29.7m Series C round and Neyber's £21m Series C. Apple reported a fiscal third-quarter earnings beat, and Audi announced cost savings to fund a shift to electric cars. Love Home Swap was acquired by RCI for £40m. The UK government proposed a new National Investment Fund to support tech startups. Facebook's AI chatbots, Bob and Alice, developed a shorthand communication in an experiment, causing media attention but no immediate concern for AI dominance.

Tags:

Corporate Earnings Technology Business Acquisitions Investment Funding Artificial Intelligence

Factual

Factuality Scale

I am a freelance journalist based in Mexico City, covering Mexico and the wider region. Previously, I worked as a correspondent and senior researcher at LatAm Confidential, the Latin America research service of the Financial Times, leading coverage for Mexico and Central America. I was also part of ...

Cemex’s Shares Rise on Higher Sales Even as Profits Fall 75%

26 Oct 2023  |  news.bloombergtax.com  |  English  |  Corporate Earnings

Cemex's shares increased as sales exceeded estimates, despite a 75% drop in profits. The Mexican cement company aims to reduce its debt and improve its credit rating. Net income was $126 million, significantly lower than the previous year, due to higher taxes and the absence of an extraordinary gain from asset sales. Revenue rose to $4.6 billion, a 9% increase from the previous year.

Tags:

Corporate Earnings Financial Performance

Informative

Factuality Scale

I am Tshiamo Tabane, a journalist from Botswana. I graduated with Bachelors Degree in Media Studies from University of Botswana, where I studied journalism and public relations between 2008 and 2012.

I have nine years of work experience in news writing and reporting, after practicing as a ...

Simon Thompson is a journalist based in Los Angeles, United States of America. Specialize in entertainment - film, TV and music - working extensively across TV, digital, radio and print. Works with, or has worked with E! News, Reuters, BBC, Forbes, ITN, Sky News, Euronews, 5 News, RTL, Al Jazeera, ...

Ashtead's earnings cycle steps up a gear

30 Nov 2023  |  www.investorschronicle.co.uk  |  English  |  Corporate Earnings

Ashtead Technology has upgraded its earnings guidance and announced an acquisition that is expected to boost earnings and facilitate expansion into renewables. The company, which specializes in subsea rentals and services, is benefiting from increased offshore activity and the energy trilemma of security, affordability, and sustainability.

Tags:

Corporate Earnings Renewable Energy Expansion