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June 10, 2021

profit

Finance Leaders Reach Global Tax Deal Aimed at Ending Profit Shifting

New York Times
She described the agreement as “significant” and “unprecedented.” “That global minimum tax would end the race to the bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world,” she said in a statement. “The global minimum tax would also......

Finance Leaders Reach Global Tax Deal Aimed at Ending Profit Shifting

New York Times
Business lobbyists and Republican lawmakers have warned that doing so will make American companies less competitive than their international counterparts and lead to more offshoring. Treasury Secretary Janet L. Yellen and other administration officials have said that getting other countries to go along with a base tax rate on overseas......

GM raises profit outlook as it shifts chips to trucks

Reuters
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. Picture taken March 16, 2021. REUTERS/Rebecca Cook/File Photo General Motors Co(GM.N) said Wednesday it expects first half profits will be “significantly better” than previously forecast, in part because of......

Lenovo’s Q4 profit growth of 512% beats estimates

Reuters
The Lenovo logo is seen in this illustration photo January 22, 2018. REUTERS/Thomas White/Illustration China’s Lenovo Group (0992.HK) on Thursday posted a better-than-expected rise of 512% in fourth-quarter profit, as more consumers working and studying from home powered demand for the world’s biggest maker of personal computers. Profit for the......

M&S’s annual profit slumps 88% as COVID crushes clothing sales

Reuters
British retailer Marks & Spencer (MKS.L) on Wednesday reported an 88% slump in full-year profit, reflecting a collapse in clothing sales due to the COVID-19 pandemic and said it was unlikely to pay a dividend for the current year. M&S, which also sells upmarket food, made a pretax profit before......

M&S profit seen crashing 90% in “lost year” of pandemic

Reuters
A woman walks past a Marks & Spencer store at Oxford Street, amid the outbreak of the coronavirus disease (COVID-19), in London, Britain, July 20, 2020. REUTERS/Henry Nicholls/File Photo Britain’s Marks & Spencer (MKS.L) is set to report on Wednesday a 90% slump in full-year profit after the COVID-19 pandemic......

Tencent Q1 profit rises 65%

Reuters
Chinese gaming and social media giant Tencent Holdings Ltd (0700.HK) reported on Thursday a forecast-beating 65% rise in quarterly profit. Tencent, the world’s largest gaming firm by revenue, booked profit of 47.77 billion yuan ($7.42 billion) for the three months through March, ahead of an average analyst estimate based on......

Victoria’s Secret parent L Brands posts larger-than-expected profit as retailer sells more full-price items

CNBC
CNBC – For more and to sign up click here Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images Victoria’s Secret parent L Brands on Wednesday reported first-quarter earnings and sales that topped......

Coinbase made $771 million in profit in the first quarter, benefiting from cryptocurrency mania.

New York Times
The cryptocurrency exchange Coinbase said on Thursday that its quarterly profit soared by more than 20 times from a year earlier as its revenue skyrocketed, in a sign of how enthusiasm for digital currencies has gone mainstream in the pandemic. Coinbase said it brought in $1.8 billion in revenue during......

Website creator Wix.com reports Q1 profit fall, revenue jump

Reuters
The offices website-designer firm Wix.com are shown in Tel Aviv, Israel July 4, 2016. Picture taken July 4, 2016. REUTERS/Baz Ratner/File Photo Israel’s Wix.com (WIX.O) on Wednesday reported a wider first-quarter loss on higher expenses but a jump in revenue from its services helping small businesses build and operate websites.......

Israel’s Oil Refineries moves to Q1 profit, sees post-pandemic recovery

Reuters
Israel’s Oil Refineries (ORL) (ORL.TA) said on Sunday it swung to a profit in the first quarter citing the country’s gradual recovery from the coronavirus pandemic, which had hit refining margins. ORL, Israel’s largest refining and petrochemicals group, reported a $55 million net profit in the January-March period compared with......

Siemens ups profit and sales guidance again as earnings beat forecasts

CNBC
CNBC – For more and to sign up click here wallix | iStock Editorial | Getty Images Siemens raised its full-year profit and sales guidance on Friday for the second time this year, after the German conglomerate beat earnings forecasts for the second quarter. Siemens reported adjusted EBITDA (earnings before......

Square sails past profit estimates as bitcoin volumes surge

Reuters
Jack Dorsey, CEO of Square and CEO of Twitter, speaks during an interview November 19, 2015. REUTERS/Lucas Jackson Payments firm Square Inc (SQ.N) handily beat Wall Street expectations for quarterly profit on Thursday, as surging demand for bitcoin fueled a jump in cryptocurrency transactions on its peer-to-peer payment service Cash......

Miner Sibanye-Stillwater’s first-quarter core profit jumps 78%

Reuters
Mine workers employed at Sibanye Gold’s Masimthembe shaft operate a drill in Westonaria, South Africa, April 3, 2017. REUTERS/Mike Hutchings South African miner Sibanye-Stillwater (SSWJ.J) on Thursday posted a 78% increase in first-quarter core profit, driven by higher metals prices and improved operational performance. High prices for metals extracted by......

You don’t actually own the bitcoin you buy on PayPal. But you can still make a profit

CNBC
CNBC – For more and to sign up click here The PayPal application on an Apple iPhone.  Andrew Harrer | Bloomberg | Getty Images It is easier than ever to buy bitcoin. But be careful which platform you choose, because you may not actually own the bitcoin that you are......

Saudi Aramco beats quarterly profit forecast, maintains dividend

Reuters
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo State-run oil producer Saudi Aramco (2222.SE) beat analysts’ forecasts on Tuesday with a 30% rise in first-quarter net profit and maintained its dividend payout, helped by strong oil prices.......

Thomson Reuters tops first quarter revenue, operating profit estimates

Reuters
The logo of Thomson Reuters is pictured at the entrance of its Paris headquarters, France, March 7, 2016. REUTERS/Charles Platiau Thomson Reuters (TRI.TO) reported higher first quarter revenue and operating profit on Tuesday, helped by its three main divisions and a rebounding economy, saying full-year sales growth will be at......

Oil giant Saudi Aramco beats estimates with 30% hike in first-quarter profit

CNBC
CNBC – For more and to sign up click here Oil tanks at an oil processing facility of Saudi Aramco, a Saudi Arabian state-owned oil and gas company, at the Abqaiq oil field. Stanislav Krasilnikov | TASS via Getty Images Oil giant Saudi Aramco reported a 30% jump in net......

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