Author: Press Room
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shell reported adjusted earnings of $6.2bn in the third quarter and increased share buybacks as robust oil prices and higher refining margins helped drive profits.The earnings, which were in line with market estimates, were down about a third from $9.5bn reported last year at the height of the energy crisis, but beat the $4.1bn in the same period of 2021.Shell left its quarterly dividend unchanged after but announced $3.5bn in share buybacks for the next three months, up from $3bn in the…
© Reuters The Reserve Bank of India (RBI), under the leadership of Governor Shaktikanta Das, has seen the successful return of more than 97% of the discontinued Rs 2,000 banknotes. These notes were introduced in November 2016 to combat counterfeiting and black money, and were withdrawn on May 19, 2023. Despite their withdrawal, these notes continue to be a legal tender. As of October 31, 2023, only Rs 10,000 crore remained in circulation, reducing the total value from Rs 3.56 lakh crore to Rs 0.10 lakh crore. The initial deadline for depositing or exchanging these notes was extended to October…
© Reuters. San Diego-based Qualcomm (NASDAQ:) Inc. has reported a profit of $1.49 billion for its fiscal fourth quarter, surpassing Wall Street expectations. The chipmaker’s earnings per share (EPS) rose to $2.02 after adjusting for stock option expense, beating Zacks Investment Research’s average analyst prediction of $1.92 per share. Qualcomm’s revenue for the period was a notable $8.63 billion, exceeding analysts’ projections of $8.55 billion. On Thursday, Qualcomm’s Q3 2023 earnings were reported to have surpassed Zacks’ estimate by 5.21% at $2.02 per share, although this was lower than the previous year’s $3.13 per share. This performance reflects the company’s…
© Reuters. Oil prices have seen an increase following the Federal Reserve’s indication of potentially halting further interest rate hikes, thereby stabilizing a previously uncertain demand outlook. This comes as the Federal Reserve refrained from raising borrowing costs for two consecutive meetings. The recent rise in long-term Treasury yields has been cited as a factor reducing the need for another hike. The global benchmark and West Texas Intermediate (WTI) oil prices have advanced, with Brent nearing $86 per barrel. This movement is in line with broader financial markets. Despite concerns about the Israel-Hamas conflict potentially disrupting oil supplies, the situation…
Fresenius Medical Care Non-GAAP EPS of €0.57, revenue of €4.94B; raises FY23 outlook
An Alaska suspect was arrested this week after he allegedly threatened to “hunt” down and kill a U.S. Senator, officials said.Arther Graham, 46, of Kenai, was arrested Monday after he allegedly sent a graphic message to a U.S. Senator, who was not identified, on Sept. 28, threatening to kill them and wear their skin “as clothes,” U.S. Attorney S. Lane Tucker for the District of Alaska said.In the threatening message, Graham explained he was facing eviction and had nowhere else to go. He also reportedly said he was formerly homeless. Graham identified himself in the threat, signed it with his…
The PNC Bank logo is seen on a mobile device in this photo illustration. PNC Bank is one of the ten … [+] largest banks in the United States. (Photo by Jaap Arriens/NurPhoto via Getty Images)NurPhoto via Getty Images Bears say the end is near. A full blown credit crisis is here, they claim, and investors are woefully unprepared. Not so fast. Credit rating agencies Fitch and Moody’s during the past two weeks rattled the capital markets with important debt downgrades. Anxiety among investors is high. Historically, this is a bullish sign. Investors should look at PNC Bank (PNC). Bulls…
Stay informed with free updatesSimply sign up to the Exchange traded funds myFT Digest — delivered directly to your inbox.Latest news on ETFsVisit our ETF Hub to find out more and to explore our in-depth data and comparison toolsState Street Global Advisors is cutting fees on two of its exchange traded funds in Europe to 3 basis points, making them “even more accessible and affordable”.The total expense ratio for the $5.5bn SPDR S&P 500 Ucits ETF will be reduced from 0.09 per cent to 0.03 per cent, while the smaller $821mn SPDR S&P 500 ESG Leaders Ucits ETF will also…
Emerging-market economies, including Mexico, Brazil, Indonesia, Vietnam, South Africa, and Turkey, have exhibited resilience in the face of anticipated debt crises and rising global interest rates, as discussed at the recent IMF and World Bank annual meetings. These economies have managed to avoid debt distress despite geopolitical strife, defaults in low-income economies, a downturn in China’s real estate market, and mounting global interest rates. Several factors have contributed to this resilience. A key role has been played by the loose fiscal policies of the US and China. The US is projected to run a $1.7 trillion deficit in 2023 while…
© Reuters. Turning Point Brands (NYSE: NYSE:), the maker of Zig-Zag® and Stoker’s®, in the NewGen segment, has revised its one-year price target upwards by 16.18% to $40.29 per share, indicating a potential increase of 100.95% from the current closing price of $20.05, announced Wednesday. TPB also declared a regular quarterly dividend of $0.06 per share, leading to an annualized dividend of $0.26 and a yield of 1.30%, which is two standard deviations above the five-year average yield of 0.73%. The company’s three-year dividend growth rate stands at 0.30%, with a payout ratio of 0.36. However, the institutional ownership structure…