Royal Dutch Shell is exploring increasing shareholder payouts. Record earnings from rising energy prices will also enable the company to move more quickly toward renewable and low-carbon energy sources. This would be the first increase in dividends since the 1940s, according to CEO Ben van Beurden. According to the chief executive, Shell is exploring … Read more
Acuity (AYI) saw a 5% increase in its stock price in premarket trading. Restoration Hardware (RH) fell 7.7% after the home goods retailer dropped its full-year guidance. Spirit Airlines (SAVE) will have a shareholder vote on its merger with Frontier Group. Walmart (WBA) – The operator of the drugstore made an adjusted 96 cents per … Read more
Controls on steel imports due to expire this week could be retained. Department for International Trade says a final decision has not been made. It follows a proposed approach set out by the international trade secretary on Thursday. The question of extending tariffs on steel imports is seen as potentially breaking World Trade Organization (WTO) … Read more
Crypto firm Harmony says thieves stole $100 million worth of digital coins from one of its key products. Latest in a string of cyber heists on a sector long targeted by hackers. U.S.-based company is working with national authorities and forensic specialists to retrieve funds. U.S. crypto firm Harmony said on Friday that criminals took … Read more
Shares in the biggest U.S. banks rallied on Friday after they passed the Federal Reserve’s annual health check. Results implied a big variation in the size of banks’ stress capital buffers. Bank of America underperformed with test results implying it needs a larger-than-expected buffer. Shares in the greatest U.S. banks revitalized on Friday after they … Read more
Spirit Airlines board renews support for a merger deal with Frontier Group Holdings (ULCC.O). JetBlue Airways said it will “more thoroughly” review the revised terms of Frontier’s proposal. The carriers have been involved in a tussle to create the fifth-largest U.S. airline. Spirit Airlines Inc (SAVE.N) said on Friday it has reestablished its help for … Read more
Toyota, Nissan and others are shouldering more of the burden of soaring raw materials prices. They are extending other help to hard-hit parts makers, executives say. Piecesmeal support highlights potential disruption from the dramatic weakening of the yen, now at its lowest in two decades. For a really long time, Japan’s strong automakers had a … Read more
Cloud and enterprise software firm Oracle Corp (ORCL.N) topped Wall Street estimates for quarterly profit and revenue. More businesses are spending on cloud services while transitioning to a hybrid work environment. Shares in the Austin, Texas-based company have declined about 27% so far this year. Cloud and undertaking programming firm Oracle Corp (ORCL.N) bested Wall … Read more
Saudi Telecom’s board has proposed increasing the company’s share capital by $8 billion, or 150%, driving the share price nearly 10% higher. The proposed capital increase would involve issuing 30 billion new shares, with shareholders offering 1.5 new shares for each share owned. Saudi Telecom (7010.SE) said on Sunday its board had proposed expanding the … Read more
Spotify says it expects to reach $100 billion revenue annually in the next 10 years. The audio streaming company hosted its first investor day since going public in 2018. Spotify would need to make its revenue grow nearly 10-fold from 2021 revenue of $11.4 billion. Spotify Technology SA (SPOT.N) on Wednesday said it hopes to … Read more
PayPal Holdings Inc (PYPL.O) said on Tuesday it will now allow users to transfer cryptocurrencies including bitcoin to external wallets. The move comes nearly two years after the fintech giant opened up its platform to digital currencies. The feature will be available to select U.S. users starting on Tuesday and will be rolled out to … Read more
10-year Treasury yield hit 3.0580% early in the Asia session. The dollar added another 0.6% against the yen to touch 132.75. Ten-year gilt yields rose as far as 10.2 bps to a seven-year high of 2.256%. Asia’s bonds edged lower on Tuesday, the yen hit a 20-year low and security markets faltered as financial backers … Read more
Depp-Heard trial has been a significant source of cash for Twitch stars. Twitch and YouTube have been chastised for weeks of content centered on the Amber Heard and Johnny Depp case. Asmongold has amassed an enormous number of subscribers and followers as a result of the viewership data. One of the most significant trials in … Read more
Gina Raimondo said President Joe Biden has asked his team to look at the option of lifting some tariffs on China. The tariffs were put in place by former President Donald Trump, to combat the current high inflation. Some of the tariffs will be kept on steel and aluminum to protect U.S. workers. U.S. Trade … Read more
Small business owners are among the Americans most likely to fall behind on saving for retirement. The recent market gyrations could be a good time to consider socking away more money, experts say. Entrepreneurs are among the Americans probably going to fall behind on putting something aside for retirement in market. Putting once more into … Read more
Tesla CEO Elon Musk seemed to retract his statements about job cuts. He said the amount of salaried staff may not change drastically. Tesla’s headcount is expected to increase over the next 12 months, he said in a reply to a Twitter account. Subsequent to sending an email about work cuts for salaried staff, Tesla … Read more
Spotless bathrooms were once a crucial selling point for gas stations. Oil companies’ ads in the early and mid-20th century assured travelers that their bathrooms were clean. The development of the interstate highway system and the rise of self-service marked the end of clean bathrooms’ heyday. As a contest for clients filled during the 1920s … Read more
Bank of Baroda is set to benefit from the government’s thrust on increased infrastructure spending. Chairman Hasmukh Adhia said BoB has a positive outlook for 2022-23. The banking industry would be benefited due to an increase in the demand for bank credit. Bank of Baroda (BoB) is set to profit from the public authority’s push … Read more
Only 23% of Americans say economic conditions are “somewhat good” or better, a recent poll found. Americans keep spending like crazy because nearly everyone has a job. America added 390,000 jobs in May, double the previous average for President Trump’s administration. The Federal Reserve had been giving the economy a sugar rush since March 2020 … Read more
Frontier will pay $250 million if regulators don’t approve the planned combination of the two discount carriers. The fee is aimed at convincing investors to approve the deal next week. Spirit’s board rejected JetBlue’s advances to buy Spirit outright; JetBlue has urged Spirit shareholders to vote against the deal. Soul said an arrangement with JetBlue … Read more
“Top Gun: Maverick” earned $248 million at the global box office on its opening weekend. In Taiwan, it’s being celebrated for not pandering to China. Beijing sees Taiwan as an inalienable part of its territory and lashes out at any reference to it. In 2019, the trailer for “Top Gun: Maverick” showed Cruise’s personality, U.S. … Read more
At Walmart store thousands of employees gathered at a huge arena on Friday for the annual pep rally. CEO Doug McMillon acknowledged the new challenge facing the company: Inflation. Walmart’s workforce is “resilient and we love the challenge of retail,” he said. “We have been really buckling down on costs through and through, making a … Read more
Shanghai lifted its two-month lockdown on Wednesday. So far, Starbucks has reopened about 600 of its 940 stores in the city. The coffee chain is working with local authorities to resume indoor dining “as soon as possible,” says a spokesperson for Starbucks. China’s greatest city was under some type of lockdown from late March until … Read more
Tesla CEO Elon Musk has a ‘super bad feeling’ about the economy. He wants to cut about 10% of jobs at the electric carmaker. The message comes two days after he told employees to return to work or leave the company. Tesla employed around 100,000 people in the company and its subsidiaries at the end … Read more
Lawyers will file a case against the fund’s administrators Link Fund Solutions. They claim they failed to properly supervise the investments made by Woodford and other fund managers. In any case, Link says it acted inside the guidelines and will “overwhelmingly shield itself”. Mr Woodford was one of the UK’s most high profile stockpickers and … Read more
It could take several weeks, if not longer, for Kohl’s sale negotiations to come together. Talks have been particularly long because of the difficulty in securing financing. A likely per-share deal price at this point would be in the mid-$50s, a source says. “Anyone who purchases the business will require time,” said the individual, who … Read more
US employers added more jobs than expected in May. The unemployment rate held at 3.6% for the third month in a row but was the slowest increase in a year. The soundness of the work market on the planet’s biggest economy is firmly looked as quick rising costs raise fears of future slump. Lately, a … Read more
The Oil and Gas Regulatory Authority has cut the cost of native liquefied petrol gas (LPG) by Rs 155 for each 11.8 kg chamber or Rs13 per kg. As per the notice gave by Ogra, the cost of native condensed oil gas (LPG) has been diminished by Rs.13/kg to Rs 218.76 per kg. According to … Read more
