DWS in advanced talks with SEC to resolve greenwashing investigation July 26, 2023 DWS, the German fund manager controlled by Deutsche Bank, said on Wednesday it was engaged in advanced resolution discussions with the US SEC to resolve their ESG investigation, which has been hanging over the company for two years. The firm booked €21m in provisions regarding regulatory matters during the first half of the year. Since [...]
Google parent firm Alphabet’s profit ahead of expectations thanks to ad rebound July 26, 2023 Google owner Alphabet’s second-quarter profit exceeded expectations as it announced that long-time CFO, Ruth Porat, would assume a new role while the company sought a new finance chief. Alphabet’s results were helped by steady demand for its cloud services and a rebound in advertising. The shares jumped 8 per cent in after-hours trading. Shares of [...]
Microsoft charges ahead with spending to serve AI demand July 26, 2023 Microsoft on Tuesday laid out an aggressive spending plan to meet demand for its new artificial intelligence services after surpassing Wall Street estimates for fiscal fourth-quarter revenue and profit. Costs rose sharply as Microsoft built new data centers to support AI, and Chief Financial Officer Amy Hood said on a conference call with analysts the company’s capital expenditures [...]
Deutsche Bank flags cost cuts as investment bank slump lowers profit July 26, 2023 Deutsche Bank on Wednesday posted a 27 per cent fall in second-quarter profit as investment banking revenue slumped and warned of the need for cost cuts even though higher interest rates fuelled gains at its retail division. The German lender downgraded its outlook for the investment bank, saying it now expected revenues to be slightly lower [...]
Rio Tinto profits sink as iron ore prices ease and China’s economy stutters July 26, 2023 Rio Tinto has reported its lowest first-half year profits since the pandemic, with earnings tumbling amid easing iron ore prices.
Welcome to the Great Green Delay, and Khan’s Ulez expansion is the first victim July 26, 2023 As Sadiq Khan’s expansion of the Ultra Low Emission zone became a flashpoint for the Uxbridge by-election, other green policies face being quietly shelved, writes Comment & Features editor Sascha O’Sullivan.
GSK: British drugmaker raises profit and sales guidance after earnings beat expectations July 26, 2023 GSK raised its full-year profit and sales guidance on Wednesday after its second-quarter earnings beat expectations, helped by strong sales of its shingles vaccine Shingrix and HIV medicines. The strong results may further help revive investor confidence in CEO Emma Walmsley, coming a year after the company spun off its consumer health business, Haleon, in its most [...]
Nigel Farage calls for entire Natwest board to go after Rose resignation July 26, 2023 Nigel Farage has called on the entire Natwest board to go after chief executive Dame Alison Rose resigned overnight after an extraordinary late-night board meeting – just hours after the bank’s chairman issued a statement offering her their full confidence. Rose outed herself as the source of a BBC story into the finances of Nigel [...]
Revolution Bars: Clubbers scaling back makes for a ‘challenging’ year ahead July 26, 2023 Revolution Bars Group said that it expects trading for the rest of the year to be “challenging”, as young clubbers are scaling back nights out due to the cost of living crisis. In its full year results the group said like-for-like sales were down 8.7 per cent against pre-covid levels, as it warned that trading [...]
Rolls-Royce shares skyrocket over 20 per cent after profit guidance doubled July 26, 2023 Rolls-Royce shares skyrocketed more than 20 per cent this morning after it raised its full year profit guidance on the back of a boom in long-haul flying and increased defence spending. The aerospace giant also said that half year profits are expected to be “materially above” expectations, with the company looking to make £680m, double [...]
