H&M to trim costs by £160m after profit dented by Russia exit September 29, 2022 H&M has said it is looking to slash costs to the tune of £160m after posting weaker than expected quarterly profit. The second largest apparel retailer saw its share price sink by almost four per cent on Thursday afternoon, after revealing a cost-cutting blitz in its third quarter results. For the June-August period, pre-tax profit [...]
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).
Coca Cola beats quarterly revenue expectations as thirst for hospitality returns April 25, 2022 Coca-Cola Co surpassed quarterly revenue expectations after raising prices and the reopening of theatres and restaurants. In results published on Monday, the firm said demand for soft drinks had come back with zest after entertainment and hospitality venues had reopened with the easing of Covid restrictions. Net revenue lifted 16 per cent to $10.5bn in [...]
Global IPO bonanza: Market listings raise record $346bn in 2021 so far November 5, 2021 The global IPO market is booming, according to new data from Refinitiv ahead of the likely listing of Amazon-backed EV maker Rivian next week. IPOs have raised more than $346bn so far this year, with technology the unsurprising star sector. All up, 1,793 initial public offerings have been recorded globally so far during 2021, two-thirds [...]
Nvidia stock surge continues as it preps for trading update November 20, 2023 Nvidia is gearing up to reveal its third-quarter performance and investors are still rallying behind it after a wildly successful year.
JP Morgan tops quarter estimates whilst Morgan Stanley misses the mark October 14, 2022 JP Morgan reported a less-than-feared 17 per cent fall in third-quarter profit this afternoon, while Morgan Stanley posts a revenue plunge. JP Morgan’s adjusted profit was $3.36 per share, above analysts’ average estimate of $2.88, according to Refinitiv data. JP Morgan chief Jamie Dimon said that consumers in the US were continuing to spend despite [...]
Moderna investors left disappointed by vaccine maker’s subdued sales forecast despite strong fourth quarter February 23, 2023 Moderna has reaffirmed annual sales forecast of $5bn (£4.1bn) for its Covid-19 vaccines despite its fourth-quarter sales exceeding estimates, on expectations of lower demand for the shots in the fourth year of the pandemic. Sales of the vaccine, Moderna’s sole commercial product, were expected to fall sharply this year from $18.4bn in 2022 as most people [...]
LME: Hong Kong owners pledge to ‘strengthen its stewardship’ of the industry after nickel crisis October 9, 2023 The LME will ramp up its oversight of the market following last year's nickel crisis, the boss of its parent company has pledged.
M&A slumps as war in Ukraine rattles dealmakers March 3, 2022 Global mergers and acquisitions (M&A) slumped 35 per cent last month as Russia’s invasion of Ukraine rattled global financial markets and caused a dealmaking boom to falter.
Exxon delivers record first-quarter profit on higher output April 28, 2023 Exxon Mobil reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates.