Driving success: Uber eyes profitability as airport and office journeys fuel post-pandemic rideshare demand February 8, 2023 Uber said it had set its sights on delivering profits this year after 2022’s surge in demand for airport and office rides helped the company rebound from pandemic lows. Dara Khosrowshahi, chief executive of Uber, said the company was now focused on achieving profitability on a GAAP basis this year. Khosrowshahi said: “The pandemic’s impact on [...]
G7 price cap restrains Russian oil revenues but Kremlin still finding buyers September 6, 2023 Price caps on Russian oil and gas have managed to drive down oil revenues and keep prices in check for consumers, experts suggest.
Miner issues: Fortescue Metals chief steps down after three-year low in profits August 28, 2023 The boss of Fortescue Metals has resigned just six months after taking the top job, with the iron ore miner posting a steep decline in profits.
Gold miner Newcrest backs $17.8bn takeover offer from rival Newmont May 15, 2023 Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp’s A$26.2 billion ($17.8 billion) takeover offer in one of the world’s largest buyouts so far this year. The deal, subject to approval from shareholders of both companies and other regulatory hurdles, would lift Newmont’s gold output to nearly double its nearest [...]
Uber confident on profit as US demand rebounds in 2023 May 2, 2023 Uber forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the US ride-sharing giant report better-than-expected results for the January-March period. Shares of the company rose 7 per cent and helped drive small gains in those of rival Lyft, which reports earnings on Thursday. Uber is benefiting from its [...]
McDonald’s revenue growth to moderate as menu prices ease July 27, 2023 McDonald’s said on Thursday that revenue growth was expected to moderate in the second half of the year as signs of easing inflation prompt the burger giant to temper menu prices. Shares of the company were, however, up 1.5 per cent in morning trading after the burger chain posted better-than-expected quarterly profit and sales as [...]
Musk’s $44bn u-turn on Twitter hits City advisor fees hard July 14, 2022 Twitter and Elon Musk’s financial advisors could lose big bucks after the eccentric entrepreneur walked away from the $44bn mega deal. According to an earlier regulatory filing, the social media firm’s financial advisors Goldman Sachs and JP Morgan Chase could have nabbed fees totalling to $133m, while Refinitiv suggested that Morgan Stanley and the other [...]
Chevron tops estimates with profit gains despite slide in oil prices April 28, 2023 Oil major Chevron Corp beat market expectations on Friday as profit nudged higher in the first quarter this year.
Europe increasingly reliant on LNG as it aims to stave off winter supply crunch July 17, 2023 Europe will once again be highly dependent on LNG to meet its demand needs this winter, warns the International Energy Agency.
BlackRock beats profit estimates on robust inflows as investors pour money into funds July 14, 2023 BlackRock on beat second-quarter profit estimates, as investors continued to pour money into its various funds on the back of a rally in markets after a bruising start to the year. Markets have staged a comeback so far this year, braving the Federal Reserve’s rate hikes and a banking crisis that have raised risks of [...]