Citigroup Inc. reported a 25 percent drop in third-quarter profit on Friday as the most global of U.S. banks set aside funds to cover soured loans from a potential economic downturn, while its investment bank struggled with a slump in global dealmaking. The U.S. Federal Reserve’s aggressive actions to stamp out decades-high inflation have triggered…
Citigroup Profit Falls on Higher Loan-Loss Reserves, Weak Dealmaking Activity
Morgan Stanley Profit Misses Estimate as Deals Drought Extends
Morgan Stanley on Friday reported a 30 percent slump in third-quarter profit, missing analysts’ estimate as a slowdown in global dealmaking hurt its investment bank business, sending its shares down 1.7 percent in early trading. The outlook for deals has steadily worsened this year as the U.S. Federal Reserve raised interest rates to tame inflation,…
PepsiCo Signals Resilient Demand as Price Increases Boost Forecasts
PepsiCo Inc. on Wednesday raised its annual forecasts for revenue and profit on the back of fresh price increases for its sodas and snacks to battle runaway costs while signaling resilient demand. Shares rose 4 percent after the company also beat third-quarter estimates that comes amid gloomy expectations for corporate results due to surging inflation…
Weaker Refining, Gas Trading to Hit Shell’s Third-Quarter Results
LONDON—Shell said on Thursday its third-quarter profit would be pressured by a near halving of oil refining margins, crumbling chemical margins, and weaker natural gas trading. The British energy giant reported two consecutive quarters of record profit in the first half of the year amid soaring oil and gas prices, and stellar earnings from its…
Nike Q1 Earnings Highlights: Revenue and EPS Beat, Investors Pull Back on Inventory, China Concerns
Apparel and footwear company Nike Inc. reported first-quarter financial results after market close Thursday. Here are the key highlights for Nike investors. What Happened Nike reported first-quarter revenue of $12.7 billion, up 4 percent year-over-year. The total came in ahead of a Street estimate of $12.27 billion, according to data from Benzinga Pro. Earnings per…
H&M to Cut Costs as Profits Hit by Inflation, Cautious Shoppers
September 29, 2022
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STOCKHOLM—H&M, the world’s No.2 fashion retailer, launched a 2 billion Swedish crown ($177 million) cost savings drive on Thursday after reporting weaker-than-expected profits. In Europe, where H&M does the bulk of its business, the Ukraine conflict, record energy prices and high inflation are weighing on consumer confidence, and households are cutting back on spending. The…
The Scar (1948)
September 22, 2022
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Pursued by the big-time gambler he robbed, John Muller assumes a new identity, with unfortunate results. Credit: Public Domain Movies – BUY Jan 6 DVD: www.epochtv.shop/product-page/dvd-the-real-story-of-january-6, Promo Code “EpochTV” for 20% off. – Feature Films: Cinema collection: epochcinema.com Epoch Original content: epochoriginal.com Feature Films: www.theepochtimes.com/featured-films * Click the “Save” button below the video to access…
Coca-Cola HBC Flags One-Time $195 Million Hit From Russian Operations
August 11, 2022
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Coca-Cola HBC AG said on Thursday it took a one-time hit of 190 million euros ($195.4 million) in the first half from costs related to its Russian business after it stopped selling Coke and other Coca-Cola Co. products in the country. The soft drinks bottler also reinstated its forecast for the year, expecting annual comparable…
Eternally Yours (1939)
August 4, 2022
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Anita Halstead, swept off her feet by magician Arturo, finds the results less than magical. Credit: Public Domain Movies – Feature Films: Cinema collection: epochcinema.com Epoch Original content: epochoriginal.com Feature Films: www.theepochtimes.com/featured-films * Click the “Save” button below the video to access it later on “My List.” Follow EpochTV on social media: Twitter: twitter.com/EpochTVus Rumble:…
Ferrari Lifts 2022 Forecasts After Strong Second Quarter Results, Record Orders
MILAN—Ferrari beat earnings forecasts and reported record orders in the second quarter, prompting the luxury sports car maker to raise its full-year targets, as Portofino M and F8 family models drove sales. The Italian company, famed for its roaring engines powering super-cars with price tags starting at over 200,000 euros ($205,000), in June rolled out…
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