Gold miner Newmont’s quarterly profit beats estimates on higher prices April 27, 2023 Newmont beat Wall Street expectations for first-quarter profit on Thursday, benefitting from higher prices of the yellow metal.
Facebook owner Meta touts AI might as digital ads boost outlook April 27, 2023 Meta Platforms CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. Meta shares surged 12 per cent in after hours trading, adding over $50bn (£40.06bn) to its market value and continuing a rally [...]
Google parent Alphabet announces stock buyback after modest beat on ad sales April 26, 2023 Alphabet Inc said on Tuesday it would buy back $70bn (£56.3bn) in stock and posted first-quarter profit and revenue above estimates as demand rose for cloud services and ad sales held up better than expected. Investors cheered the buyback plan, sending shares of the Google parent as much as 4 per cent higher in after-hours trade before [...]
Microsoft: Shares jump eight per cent as AI helps software giant’s sales beat expectations April 26, 2023 Microsoft beat Wall Street’s estimates for quarterly revenue and profit on Tuesday, driven by growth in its cloud computing and Office productivity software businesses, and the company said artificial intelligence products were stimulating sales. The company forecast revenue in its main segments for the current quarter would match or top Wall Street targets. Shares gained 8.3 per cent in after-market [...]
Barclays follows Citi, Goldman and Morgan Stanley in cutting 100 investment bank jobs despite rate hike profits April 17, 2023 Barclays will follow Citi, Goldman Sachs and Morgan Stanley in cutting more than 100 investment banking jobs, according to Sky News’ Mark Kleinman. The London-based bank is set to axe the jobs following the industry slowdown in deals and IPOs. The layoffs will be spread across multiple countries and across divisions in the bank, it was [...]
JP Morgan profits up 52 per cent as it benefits from SVB chaos with influx in deposits of $37bn April 14, 2023 JP Morgan reported a surge in profit in the first quarter and an increase in deposits as the Wall Street giant weathered turmoil in the banking sector to deliver record results. Profit at America’s largest bank soared 52 per cent to hit $12.6bn while its diluted earnings per share was $4.10, significantly ahead of consensus [...]
Could Putin pull Russia out of key Ukraine grain deal, and what would the impact be on global markets? April 7, 2023 Russia could pull out of a wartime deal that allows the export of Ukrainian grain to global markets if the West fails to remove obstacles to Russian agricultural exports, Moscow’s top diplomat has said. The deal, brokered by the United Nations and Turkey in July, unblocked shipments stuck in Ukraine’s blockaded and mined ports, alleviating [...]
Gas prices: How long before they return to pre-energy crisis levels? April 5, 2023 Gas prices will not return to pre-crisis levels for another three years despite the recent drop-off, warns investment group Stifel.
Russia and Ukraine extend Black Sea grain deal in bid to lower global food prices March 18, 2023 An unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat has been extended. The extension was announced by the United Nations and by Turkish President Recep Tayyip Erdogan, but neither confirmed the length of the extension. The UN, Turkey [...]
Eon plans big investment hike in grids and retail business after optimistic outlook March 15, 2023 Eon - Europe's biggest operator of energy networks - plans to boost investment in its grids and retail businesses to £29.1bn (€33bn).