February 15, 2023 10:17 am
The shares of Carrefour SA (CARR) surged on Wednesday, after the company announced an 8% dividend raise and the launch of a new share buyback program this year as a result of higher 2022 earnings and record cash flow. “Notwithstanding an inline print, we think the progression of the buyback and dividend will be supportive […]
Read moreFebruary 14, 2023 12:08 pm
Ford Motor Co (F) said on Tuesday that it intended to cut one in nine jobs in product development and administration across Europe as part of a global cost-cutting effort. A total of 3,800 jobs are expected to be cut, including 2,300 at Ford’s Cologne and Aachen facilities in Germany, 1,300 in the United Kingdom […]
Read moreFebruary 14, 2023 9:56 am
USD/JPY edged lower on Tuesday after Kazuo Ueda’s surprise nomination to be the next Bank of Japan governor, while market players were expecting the key US CPI inflation data for more hints on the Federal Reserve’s policy outlook. The Japanese government nominated Kazuo Ueda, a former BoJ policy board member and an academic at Kyoritsu […]
Read moreFebruary 13, 2023 11:17 am
Sanofi said on Monday that John Reed, its Global Head of Research & Development, would be parting ways with the company to pursue a new opportunity elsewhere. “Under John’s leadership, our R&D organization has built a robust pipeline and sharpened its research focus, employing cutting-edge therapeutic platforms and creating a culture that responds to the […]
Read moreFebruary 13, 2023 9:18 am
According to a report by Focus Money magazine, citing BMW’s Chief Financial Officer, the company has met its 2022 target for significantly higher pre-tax earnings compared to the prior year. “We had no reason to correct the forecasts … Otherwise we wouldn’t be sitting here so relaxed,” BMW’s CFO Nicolas Peter was quoted as saying […]
Read moreFebruary 10, 2023 9:13 am
Futures on US West Texas Intermediate Crude Oil looked set to register their first weekly gain in three, as market players were still weighing US recession risks against optimism over a sound fuel demand recovery in the world’s largest oil importer, China. The latest data by the US Labor Department seemed to have reignited recession […]
Read moreFebruary 9, 2023 11:15 am
Volvo Cars (VOLCARb) on Thursday reported a drop in quarterly earnings and said 2023 would likely be another challenging year, even as vehicle demand remains sound. The company’s operating profit decreased to SEK 3.4 billion in the fourth quarter from SEK 3.7 billion in the year-ago period. “While 2023 looks to be another challenging year, […]
Read moreFebruary 9, 2023 9:37 am
Credit Suisse Group (CSGN) on Thursday reported the largest annual loss since the 2008 financial crisis, as it saw unprecedented client withdrawals. The lender’s net loss stood at CHF 1.39 billion in the fourth quarter, compared with a loss of CHF 2 billion in the year-ago period. For the full year, Switzerland’s second-largest bank posted […]
Read moreFebruary 8, 2023 11:50 am
After finalizing the sale of 100% of its Russia-based operations on November 15th 2022, Arconic Corp (ARNC) said it had incurred a $304 million after-tax loss on the divestiture during the fourth quarter of 2022. The Pittsburgh-headquartered provider of aluminum sheet, plate and extrusions, also said its prior 2022 adjusted EBITDA outlook would be revised […]
Read moreFebruary 8, 2023 8:28 am
Boeing Co (BA) said earlier this week it intended to cut nearly 2,000 white-collar jobs in finance and human resources in 2023. The US company confirmed a report by Seattle Times that it expected “about 2,000 reductions this year primarily in finance and HR through a combination of attrition and layoffs.” It also confirmed that […]
Read more
