Synopsis The correction of March on Dalal Street should serve as a warning to all those who tend to buy stocks without bothering to look at what is the business of the company. The way correction panned out, there is a high probability that going forward that an upward movement in mid-cap space would be … Read more
Meta Platforms Inc’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook, which has fallen on hard times amid a broad post-pandemic slump in digital ads, is focused on improving its … Read more
European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited. The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. That will follow a ban on Russian crude taking effect … Read more
Life Insurance Corp of India () is planning to transfer nearly $22 billion from policy holders’ funds into a fund earmarked to pay dividends or issue bonus shares, two sources said on Friday, as the country’s largest insurer aims to shore up both its own net worth and investor confidence. The state-owned insurer listed on … Read more
Global dealmaking is set to maintain its scorching pace next year, after a historic year for merger and acquisition (M&A) activity that was fueled largely by easy availability of cheap financing and booming stock markets. Global M&A volumes topped $5 trillion for the first time ever, comfortably eclipsing the previous record of $4.55 trillion set … Read more
Nvidia on Wednesday said talks with regulators to clear its $40 billion (roughly Rs. 2,97,905 crores) proposed acquisition of British semiconductor technology firm Arm are taking longer than expected. The disclosure came as Nvidia, the world’s biggest maker of graphics chips for gamers and artificial intelligence chips for data centres, forecast third-quarter revenue above Wall … Read more
South Korea’s LG Display on Wednesday posted a better-than-expected second-quarter profit as pandemic-led demand for TVs and laptops drove up panel prices, pushing its shares up as much as 4.2 percent in morning trade. The display maker, whose customers include Apple, reported an operating profit of KRW 701 billion (roughly Rs. 4,517 crores) in the … Read more
Microsoft posted its most profitable quarter on Tuesday, beating Wall Street expectations for revenue and earnings, as PC sales declines stemming from a global chip shortage were more than made up for by a boom in cloud services. Shares ticked up 0.7 percent after Microsoft projected that growth in its Azure cloud computing business will … Read more
Saudi Arabian state oil giant Aramco said on Sunday it expects to cut capital expenditure after it reported a 44.4% slump in 2020 net profit, hit by lower crude oil prices and sales as the coronavirus pandemic depressed demand. The company lowered its guidance for spending to around $35 billion from a range of $40 … Read more
By Caroline Valetkevitch NEW YORK: While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been. Analysts expect third-quarter S&P 500 earnings to have fallen 21 per cent compared with the … Read more