Pepsico beats revenue estimates as demand for snacks surged July 13, 2020 Pepsico beat estimates for quarterly revenue and profit, powered by a surge in demand for snacks during lockdowns triggered by the pandemic. Consumers stocked up on snacks as many pivoted to working and studying at home in a bid to curb the spread of infection. Sales of snacks under the Frito-Lay North America unit rose [...]
Google parent Alphabet reveals record $10bn bond at lowest-ever price August 4, 2020 Alphabet borrowed $10bn (£7.66bn) in the investment-grade corporate debt market yesterday, marking its largest ever bond issue at its lowest price to date. Within the $10bn on offer, a $1bn five-year tranche was issued at a discount of 0.45 per cent — the lowest discount seen at that maturity since Apple issued a $1.5bn five-year [...]
Microsoft surprises investors in sales and profit beat July 22, 2020 Microsoft topped analyst estimates for both sales and earnings in its fourth fiscal quarter, but shares still dropped slightly in after-hours trading. Microsoft reported earnings per share of $1.46 in the three months to the end of June, compared to an average estimate of $1.34. However overall its net income was $11.2bn, down 15 per [...]
Musk qualifies for $2.1bn payday after Tesla rally July 21, 2020 A prolonged bounce in Tesla’s share price means its chief executive Elon Musk has qualified for a $2.1bn payout, in his second award since May. The electric carmaker’s six-month average market capitalisation officially surpassed $150bn today, triggering the vesting of the second of 12 tranches of options granted to Musk in 2018. Musk, who is [...]
Blackrock profit trumps estimates as Wall Street bounces back from coronavirus July 17, 2020 Blackrock ended the quarter with $7.32 trillion in assets under management, up from $6.84 trillion a year earlier as profit beat predictions, it said today. The S&P 500 rose 20 per cent in the second quarter after falling by that amount in the first three months of 2020 as the coronavirus pandemic slammed the economy. [...]
Softbank secures $14.8bn in first wave from T-Mobile US share sale June 24, 2020 Softbank is set to gain almost $15bn from the first in a series of transactions to unwind its stake in T-Mobile US, as it seeks to bolster its cash reserves following a major annual loss. T-Mobile said it has priced a sale of its shares at $103 each — a four per cent discount on [...]
Morgan Stanley reports record revenues after surge in trading July 16, 2020 Morgan Stanley today revealed quarterly earnings had beaten analysts’ expectations, even as coronavirus ravaged the US economy. The Wall Street bank’s record profit was boosted by strong trading revenues which jumped nearly 70 per cent. The figures: Morgan Stanley reported net revenues of $13.4bn (£10.64bn) for the second quarter, compared with $10.2bn (£8.1bn) a year [...]
WIBF launches UK’s first cross-sector gender research programme in financial services September 11, 2020 We are delighted to announce the launch of the UK’s first cross-sector research programme, Accelerating Change Together (ACT) with the aim of driving policy change to better support and retain women working in financial services. The research will harness the collective input from banking, asset management, professional services, Fintech and insurance, to address the pressing [...]
Refinitiv executive hired to lead the fight in Brussels for the City’s future post-Brexit November 18, 2018 A senior boss at financial data firm Refinitiv has been appointed to fight for the City's future ahead of Brexit. The City of London Corporation said it was looking to strengthen its Brussels office and that a new managing director would be a “focal point” for building a new relationship between financial and professional services [...]
Amazon blows past estimates in revenue and profit beat July 30, 2020 Amazon surprised investors as it beat analyst estimates for second-quarter revenue and profit by a long shot, sealing off a strong quarter for the e-commerce retailer. Amazon reported a net income of $5.2bn in the second quarter, or $10.30 per diluted share, doubling its profit from a year earlier of $2.6bn. Analysts had been expecting [...]