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Dec 22 (Reuters) – Used-car retailer CarMax Inc (KMX.N) said on Thursday it was pausing some hiring, halting share buybacks and cutting expenses after reporting an 86% drop in third-quarter profit as the industry struggles to offload inventory amid waning demand. The company’s shares fell as much as 12% to $52.10 and were at more … Read more
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NEW YORK, Dec 13 (Reuters) – Some of the banks that lent Elon Musk $13 billion to buy Twitter are preparing to book losses on the loans this quarter, but they are likely to do so in a way that it does not become a major drag on their earnings, according to three sources with … Read more
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Nov 17 (Reuters) – Fuller, Smith & Turner (FSTA.L) said it was confident customers would keep flocking to its pubs this Christmas despite the challenging economic environment, after tourists and commuters returned to London, driving sales higher. Many of Britain’s hospitality businesses are fighting to survive this winter as energy and staff costs rise while … Read more
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Nov 9 (Reuters) – A U.S. jury on Tuesday found a local unit of Canada’s Bank of Montreal (BMO) (BMO.TO) liable for over $550 million in damages over a Ponzi scheme operated by a Minnesota businessman, leading the bank to book a charge of C$1.12 billion ($834.2 million). Thomas Petters was found guilty in 2009 … Read more
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Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says a China plant operating at sharply reduced capacity Apple supplier Foxconn revises down Q4 outlook TAIPEI, Nov 7 (Reuters) – Apple Inc (AAPL.O) expects lower shipments of high-end iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted … Read more
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Q2 profit 562.7 bln yen vs 772.2 bln yen forecast Cuts FY production target to 9.2 mln units from 9.7 mln Unclear when chip shortage will end – executive Results ‘very unimpressive’ considering positive factors -analyst Shares end down 1.9%, Nikkei benchmark up 0.3% TOKYO, Nov 1 (Reuters) – Toyota Motor Corp (7203.T) on Tuesday … Read more
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TOKYO, Oct 28 (Reuters) – Japan’s biggest buyer of liquefied natural gas (LNG), JERA, said on Friday it plans to book a 110 billion yen ($751 million) loss related to a fire at U.S. Freeport LNG, mostly due to higher costs as it needed to buy alternative fuel from the spot market. Japan’s biggest power … Read more
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ZURICH, Oct 27 (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it. The Swiss lender outlined on Thursday what its chairman Axel Lehmann … Read more
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PARIS, Oct 27 (Reuters) – TotalEnergies (TTEF.PA) posted a sharp jump in its third quarter net profit compared with a year ago, as it joined other energy giants in its sector to have benefited from higher oil and gas prices, although it also booked a new Russia-related impairment. TotalEnergies’ third-quarter adjusted net income stood at … Read more
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LONDON, Oct 21 (Reuters) – The London Stock Exchange Group (LSEG.L) reported a 16.2% rise in income in the third quarter to 1.905 billion pounds ($2.13 billion) on Friday, and made no changes to its guidance or targets. A consensus forecast from analysts had expected income of 1.881 billion pounds, excluding recoveries. Gross profit in … Read more