Business & Finance
Hermes Surpasses Expectations Due To Strong Growth In The US And China
Hermes, the maker of the Birkin bag, claimed that wealthy Chinese consumers bought its goods in the fourth quarter even though the rest of the luxury market was suffering from an increase in COVID infections, enabling it to surpass sales and margin expectations. According to Executive...
Bloomberg: Twitter closes two of its three offices in India
According to sources cited by Bloomberg, two of Twitter's three offices in India have been shut down. The social network's offices in Mumbai and New Delhi have stopped operating, but the office in Bangalore is still open, according to the publication. The company fired more than 90% of its Indian...
To Reassure Investors, Adani Says There Will Be No Refinancing Or Liquidity Issues
In its most recent effort to reassure investors alarmed by a critical U.S. short-report seller's on its business practices, the Adani group of India said on Tuesday that neither its companies nor the near-term liquidity issues they face pose any material refinancing risk. The group of...
Berkshire Hathaway Sells TSMC And Bank Shares While Increasing Its Stake In Apple
In the fourth quarter, Warren Buffett's Berkshire Hathaway Inc reduced its holdings in Taiwanese contract chipmaker TSMC, as well as some banks, while increasing its holdings in Apple Inc. According to a regulatory filing, Berkshire reduced its position in Taiwan Semiconductor...
Australian Iron Ore Behemoths Face Declining Earnings And Dividends
After China's COVID lockdown drove down iron ore prices, Australia's three largest iron ore producers, BHP Group, Rio Tinto, and Fortescue, are expected to report a sharp decline in earnings, which will result in a reduction in their payouts to shareholders. According to projections from...
Reuters: Airbus chief disappointed with drop in plane deliveries in January
Guillaume Faury, the CEO of Airbus, was unhappy with the company's aircraft deliveries in January and informed top managers that this year's total shouldn't fall short of the target set for last year, according to sources cited by Reuters. The figures dropped by roughly five times in January...
UK Semiconductor Industry Threaten They Could Move Out To US And EU
According to a CNBC report quoting industry insiders, the UK's semiconductor industry is pleading with the government for financial assistance and if it doesn't act soon, it could lose its microchip companies to the U.S. and other nations. The government of Prime Minister Rishi Sunak...
Caution of up to $1.1 bln earnings hit issued by Australia’s Star Entertainment
The first-half earnings from a proposed casino duty hike in New South Wales could be impaired by up to A$1.6 billion ($1.11 billion), according to a warning from Australia's Star Entertainment Group on Monday. This news sent the company's shares tumbling 22% to a record low. The warning...
Profits For Singapore's DBS Grows By Two-Thirds, And The CEO Anticipates A Slower Pace Of Rate Increases
The DBS Group, the largest bank by assets in Southeast Asia, reported a higher-than-anticipated 68% increase in quarterly profit as rising interest rates increased its net interest margins. The group also maintained its full-year forecast of mid-single-digit loan growth. Due to rising...
BMW reaches pre-tax profit target in 2022
BMW has achieved its 2022 goals with pre-tax profits that were much greater than the prior year. Focus Money magazine published this information referring to the chief financial officer of the firm. "We didn't need to change the forecast. If not, we wouldn't have been so at ease," Nicolas Peter,...
