SYDNEY (Reuters) – Australian companies are likely to deliver smaller dividends in what is forecast to be the country’s worst earnings season in a decade because of the coronavirus pandemic, with even firms that benefited from the upheaval expected to show cau... More »
DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
MILAN (Reuters) – Intesa Sanpaolo (ISP.MI) succeeded in its bid for UBI Banca (UBI.MI) on Tuesday after acquiring two thirds of its target’s shares to pass a vital threshold that leaves it in full control of what will be the euro zone’s seventh-largest bank. W... More »
(Reuters) – A stock rebound marked by Wall Street’s strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy’s recovery from a deep downturn. With the S&P 500 up 18% in the quar... More »
ZURICH (Reuters) – A spike in trading volumes boosted margins for wealth manager Julius Baer (BAER.S) in the first four months of the year, even though markets slid and a strong Swiss franc ate into assets under management. Baer attributed a 16% rise in gross ... More »
NEW YORK (Reuters) – Some dividend fund managers are wading back into the shares of battered railroad stocks, energy companies and other economically sensitive, cyclical names, even as a host of companies have slashed their payouts. Cyclical stocks were among ... More »
FRANKFURT (Reuters) – German drugs and pesticides company Bayer said the economic downturn has prompted it to take a tougher stance in talks to settle claims its glyphosate-based weedkillers cause cancer, even as its earnings rose. The pandemic has significant... More »
FRANKFURT (Reuters) – Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation. Global car and truck makers are exploring way... More »
(Reuters) – International Business Machines Corp’s (IBM.N) clients have shifted priorities toward saving capital in recent weeks because of COVID-19, hitting software sales in particular, new Chief Executive Officer Arvind Krishna said as the company withdrew ... More »
LONDON (Reuters) – 1/LOOKING TO CHINA The world’s biggest economy won’t be open for business by Easter, as U.S. President Donald Trump had hoped, but the second biggest economy may come close. How China fares offers a guide to other countries when their corona... More »
(Reuters) – British aero-engine maker Rolls-Royce (RR.L) will abandon its targets on profits, cash and deliveries, and suspend its dividend, as airlines around the world ground planes due to the coronavirus outbreak, the Financial Times reported late on Sunday... More »
MUNICH/LONDON (Reuters) – Shares in Europe’s insurers fell sharply on Friday after the EU regulator said they should temporarily halt payouts to shareholders during the coronavirus epidemic, although Germany backed Allianz’s decision to go ahead with a dividen... More »
(Reuters) – Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields. The dividend yield on the S&P 500 now exceeds the yield on the benchmark 10-year U.S. Treasury by its highest margin in nearly f... More »
ZURICH (Reuters) – UBS Group (UBSG.S) intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the g... More »
LONDON/FRANKFURT (Reuters) – The European Central Bank told euro zone banks on Friday to skip dividend payments and share buybacks until October at the earliest and use their profits to support the economy as it is hit by the coronavirus pandemic. With large p... More »
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. In his an... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a 23% decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc (AAPL.O) enabled the conglomerate to smash its old record for full-year earni... More »
(Reuters) – Australia’s Boral Ltd (BLD.AX) said on Monday delays to building projects due to bushfires will likely cause a plunge in its second-half results, while revealing an investigation had found inflated earnings at its North American window-making busin... More »
DHAHRAN, Saudi Arabia/DUBAI (Reuters) – Saudi Arabia’s giant state oil company finally kick-started its initial public offering (IPO) on Sunday, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing as the kingdo... More »
NEW YORK(Reuters) – Rock-bottom interest rates may be great for lots of people – but not for savers. With a brand-new quarter-point rate cut from the Federal Reserve and ten-year government bonds yielding 1.84%, there is almost nowhere for them to go. That is ... More »
LONDON (Reuters) – Royal Dutch Shell (RDSa.L) still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an inte... More »
MILAN (Reuters) – Italian mid-sized lender Creval said on Tuesday it would spin off its bad debts into a separate unit and sell half of them, in order to roughly halve its gross soured loan ratio to below 6.5% in 2023. Presenting a five-year business plan unde... More »
MILAN/PARIS (Reuters) – Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer. The FCA proposal, finalised in overni... More »
HONG KONG/LONDON (Reuters) – Standard Chartered PLC has unveiled plans to double returns and dividends in three years by cutting $700 million in costs and boosting income, even though the bank missed its previous targets in tough market conditions. Chief Execu... More »
SEOUL (Reuters) – Hyundai Mobis Co Ltd, an auto parts affiliate of Hyundai Motor Co, on Tuesday announced a plan to offer shareholder returns worth 2.6 trillion won ($2.32 billion) over the next three years and to appoint group heir apparent Euisun Chung as ch... More »
SEOUL (Reuters) – Hyundai Mobis, an affiliate of Hyundai Motor, said on Tuesday its board rejected a shareholder proposal for dividends worth 2.5 trillion won ($2.24 billion) on concerns the spending would undermine future competitiveness. Hyundai Mobis did no... More »
TOKYO (Reuters) – Sony Corp announced its first-ever major share buyback on Friday, worth 100 billion yen ($910 million), helping its stock recover from a hammering days earlier when investors freaked over lackluster earnings. The announcement marked Japan’s s... More »
NEW YORK (Reuters) – The Nasdaq Composite Index .IXIC confirmed on Friday it is in a bear market for the first time since 2008, underscoring fears that the longest bull run in history for U.S. stocks could soon be over. The index finished the day down 21.9 per... More »
TOKYO (Reuters) – SoftBank Group Corp (9984.T) is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalizing the group’s transition from domestic telco to a monolithic global tech investor. Telco uni... More »
LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years... More »
(Reuters) – Papa John’s International Inc (PZZA.O) on Sunday adopted a shareholder rights plan, or a “poison pill”, with a 15 percent trigger to deter existing stockholders from amassing a controlling stake in the company. The company also declared a dividend ... More »
BERLIN (Reuters) – The mood among German investors slumped in July to its lowest since August 2012, a survey showed on Tuesday, soured by concerns about escalating trade tensions with the United States. The ZEW research institute said its monthly survey showed... More »
LONDON (Reuters) – Shares in lender CYBG rose as much as 3 percent on Monday after it announced a revised bid for rival Virgin Money (VM.L), increasing the likelihood of a deal that would create a new competitor to Britain’s biggest banks. CYBG, owner of Clyde... More »
LONDON (Reuters) – After the near collapse of his company following the 2010 Gulf of Mexico disaster and a three-year slump in oil prices, BP Chief Executive Officer Bob Dudley is hardly relaxed. “It doesn’t feel like we are in a serene time for any energy com... More »
HONG KONG/LONDON (Reuters) – HSBC Holdings PLC’s (HSBA.L) new chief executive sought to cheer investors with a share buyback of up to $2 billion, even as the bank reported on Friday an unexpected 4 percent drop in first-quarter pre-tax profit due to a surge in... More »
FRANKFURT (Reuters) – Deutsche Telekom (DTEGn.DE) CEO Tim Hoettges expressed confidence on Monday that the $26 billion takeover of Sprint Corp (S.N) by its U.S. unit T-Mobile US (TMUS.O) would clear anti-trust hurdles. Hoettges, speaking after the all-stock de... More »
NEW YORK (Reuters) – Quirks in the new U.S. tax code are sowing doubts over how much big banks can boost dividends and stock buybacks this year, threatening to take the shine off what are likely to be strong quarterly profits. Changes in how companies can meas... More »
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, November 20, 2012. REUTERS/Arnd Wiegmann/File Photo TORONTO/MELBOURNE (Reuters) – As shareholders push the world’s cash-rich miners to ... More »
MEXICO CITY/LONDON (Reuters) – A subsidiary of Standard Life Aberdeen Plc, one of the world’s largest asset managers, is pressuring a Mexican airport developer to change its shareholder structure, three years after unsuccessfully trying the same strategy in a ... More »
A trader works on the floor of the New York Stock Exchange shortly after the closing bell in New York, U.S., February 2, 2018. REUTERS/Lucas Jackson NEW YORK (Reuters) – Energy stocks have got off to a strong start this year and look poised to run further, fue... More »
Deutsche Bank CEO John Cryan poses before the bank’s annual news conference in Frankfurt, Germany, February 2, 2018. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Deutsche Bank expects its costs to decline by only 4 percent to 23 billion euros ($28.8 billion) t... More »
FILE PHOTO: A Atlas Copco company logo is pictured at the “Bauma” Trade Fair for Construction, Building Material and Mining Machines and Construction Vehicles and Equipment in Munich, southern Germany, April 11, 2016. REUTERS/Michael Dalder/File Photo STOCKHOL... More »
FILE PHOTO: An Intel WLAN wifi component inside a laptop is seen in this illustration photo June 21, 2017. REUTERS/Thomas White/Illustration/File Photo (Reuters) – Intel Corp (INTC.O) on Thursday gave a bullish forecast and blew past Wall Street expectations f... More »
VTB Chief Executive Andrei Kostin attends a meeting in Russia, June 1, 2017. REUTERS/Sergei Savostyanov/TASS/Host Photo Agency/Pool MOSCOW (Reuters) – Russian lender VTB has set aside 50 billion rubles ($882 million) in additional provisions against losses and... More »
FILE PHOTO: A woman walks next to a BlackRock sign pictured in the Manhattan borough of New York, October 11, 2015. REUTERS/Eduardo Munoz (Reuters) – BlackRock Inc (BLK.N) on Friday reported a better-than-expected quarterly profit, as investors flooded into th... More »
A Keppel Corporation logo in the central business district of Singapore February 22, 2016. REUTERS/Edgar Su SINGAPORE (Reuters) – Singapore’s Keppel Corp Ltd (KPLM.SI) said the impact of a mammoth fine borne by its offshore unit will be a ‘one-off’ in this yea... More »
A logo of Hitachi Ltd. is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai TOKYO (Reuters) – The head of Japan’s Hitachi Ltd (6501.T) said the company wa... More »
FILE PHOTO: French telecom operator Orange Chairman and Chief Executive Officer Stephane Richard attends a shareholders meeting in Paris, France, June 1, 2017. REUTERS/Charles Platiau/File Photo PARIS/LONDON (Reuters) – Orange’s boss Stephane Richard told inve... More »
FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company’s headquarters in Pratteln, Switzerland October 29, 2017. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Clariant (CLN.S) on Friday rejected its largest shareholder White Tale’... More »
A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen ESSEN, Germany (Reuters) – Demand for next-generation lifts and car components enabled Thyssenkrupp (TKAG.DE) to report its highes... More »
The logo of French bank Natixis is seen outside of one of their offices in Paris, France, January 24, 2017. REUTERS/Jacky Naegelen PARIS (Reuters) – France’s fourth-biggest listed bank Natixis aims to grow revenue by five percent annually over the next three y... More »
General Electric Co's (GE.N) new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focused company, surprising some investors who sold the company's shares to a five-year low. More »
German prosecutors said on Friday they had searched a major Frankfurt bank as well as the homes of several suspects on suspicion of tax evasion via so-called "cum-ex" transactions. More »
Embattled Kobe Steel Ltd has decided to withdraw its forecast for the current financial year as it struggles to quantify the impact of its data falsification scandal, the Nikkei business daily reported on Monday. More »
Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker and a shareholder of Kobe Steel Ltd, is willing to provide support to Kobe if it receives any request, the president of Nippon Steel said on Monday. More »
Pop quiz: What percentage of long-term stock market returns are thanks to the humble dividend? Five? 10? 20? More »
U.S. President Donald Trump signed an executive order that prohibits dealings in new debt from the Venezuelan government or its state oil company on Friday in an effort to halt financing that the White House said fuels President Nicolas Maduro's "dictatorship.... More »
Short seller Marc Cohodes, who has bet against the shares of six Canadian-based companies including Valeant Pharmaceuticals International Inc and Home Capital Group Inc, said on Wednesday that he is targeting yet another Canadian firm – Exchange Income Corp. More »
Canada’s Exchange Income Corp said on Wednesday it was aware of a “short and distort campaign” aimed at undermining the value of the company’s shares. More »
FILE PHOTO: An employee of GSA Austria ( Money Service Austria ) holds a wad of new 100 euro banknotes at the company’s headquarters in Vienna July 22, 2013. REUTERS/Leonhard Foeger Although a better economy is helping global banks to turn the corner a decade ... More »
The Swift bank logo is pictured in this photo illustration taken April 26, 2016. REUTERS/Carlo Allegri/File Photo Dealing with cyber hacks on banks ate into profit last year at the SWIFT messaging system, which financial institutions use to move trillions of d... More »
The company logo for BT is seen on the BT Tower in London, Britain, January 24, 2017. REUTERS/Toby Melville – BT (BT.L) said on Thursday it would cut 4,000 jobs in its Global Services unit that serves multinationals and scale back its dividend growth ambitions... More »
FILE PHOTO: ConocoPhillips CEO Ryan Lance attends Gastech, the world’s biggest expo for the gas industry, in Chiba, Japan on April 4, 2017. REUTERS/Toru Hanai/File Photo ConocoPhillips (COP.N) has beaten its 2017 asset sales target less than four months into t... More »
Australian mining heiress and Chairman of Hancock Prospecting group Gina Rinehart prepares to award medals to competitors at the Australian Synchronised Swimming Championships in Sydney, Australia, April 25, 2015. REUTERS/Jason Reed/File Photo The children of ... More »
FILE PHOTO: A Vodafone logo is seen on a mobile internet dongle in this photo illustration, November 9, 2010. REUTERS/Suzanne Plunkett/Illustration/File Photo British mobile operator Vodafone risks being left on the sidelines as rivals converge to break free f... More »
FILE PHOTO – Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York, U.S. on September 8, 2015. REUTERS/Lucas Jackson/File Photo Warren B... More »
A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Warren Buffett said on Saturday he plans to stick with the shrewd bet that his Berkshire Hathaway Inc (BRKa.N) made on Bank of America Corp (BAC.N), but might event... More »
The logo of Swiss drugmaker Novartis AG is seen at its headquarters in Basel, Switzerland January 25, 2017. REUTERS/Arnd Wiegmann Swiss drugmaker Novartis’s drugs Tafinlar and Mekinist edged closer to approval in Europe to be used together against a type of lu... More »
The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid Bob Shearer, who manages one of BlackRock Inc’s largest funds, is planning to leave the world’s biggest asset manager later this year, executiv... More »
A man enters the Credit Suisse offices in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermid Credit Suisse (CSGN.S) on Tuesday posted a 2.35 billion Swiss franc ($2.34 billion) net loss for the fourth quarter on the back of a U... More »
FILE PHOTO – A Time Warner logo is seen at a Time Warner store in New York City, October 23, 2016. REUTERS/Stephanie Keith/File Photo Time Warner Inc reported higher-than-expected fourth-quarter results, largely due to box office hits such as the “Harry Potter... More »
Shares of Gilead Sciences Inc are languishing over concerns about the U.S. biotechnology company’s declining hepatitis C drugs and profit outlook, but some value investors sense an opportunity with shares at extremely cheap levels. More »
Emma Walmsley of GlaxoSmithKline poses in this undated photograph released in London on September 20, 2016. Courtesy of GlaxoSmithKline/Handout via REUTERS Emma Walmsley, GlaxoSmithKline’s (GSK.L) incoming CEO, will take over Britain’s biggest drugmaker at a c... More »
Japan Tobacco Inc (JT) President and CEO Mitsuomi Koizumi attends a news conference in Tokyo, Japan February 6, 2017. REUTERS/Issei Kato Japan Tobacco Inc said it was still confident about the prospect of its Ploom Tech tobacco-based electronic cigarettes, the... More »
A man speaks on his mobile phone next to a Vodafone advertisement in Kolkata, India, September 26, 2016. REUTERS/Rupak De Chowdhuri Vodafone (VOD.L) said on Monday it was in talks to merge its Indian operations with rival Idea Cellular (IDEA.NS) in an all-shar... More »
FILE PHOTO: The logo of UBS is seen outside the building housing the headquarters of the Swiss bank in San Juan, Puerto Rico, July 31, 2015. REUTERS/Alvin Baez/File Photo UBS (UBSG.S) hopes optimism surrounding new U.S. President Donald Trump’s proposed polici... More »
The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai BlackRock Inc, the world’s biggest asset manager, reported better-than-expected quarterly profits on Friday as it clamped down on expenses and ... More »
Unicredit bank logo is seen on a banner downtown Milan, Italy, May 23, 2016. REUTERS/Stefano Rellandini Italy’s UniCredit (CRDI.MI) expects to boost its best-quality capital ratio by around 78 basis points after agreeing to sell its asset manager arm Pioneer I... More »
The Amundi company logo is seen at their headquarters in Paris, France, October 7, 2015. REUTERS/Philippe Wojazer French fund management company Amundi (AMUN.PA) is to buy asset manager Pioneer from Italian bank UniCredit (CRDI.MI) for 3.55 billion euros ($3.7... More »
The logo of Samsung Electronics is seen at its headquarters in Seoul, South Korea, July 4, 2016. REUTERS/Kim Hong-Ji/File Photo South Korea’s Samsung Electronics Co Ltd (005930.KS) will consider splitting itself into two as proposed by U.S. activist hedge fund... More »
A screen displays stock charts while a trader works at his post on the floor at the New York Stock Exchange, May 30, 2013. REUTERS/Brendan McDermid With traditional dividend-paying stocks such as utilities and telecom companies trading near record highs, U.S. ... More »
Investors who own some bank sector funds may be in for an unwanted surprise: a tax bill. More »
LONDON Japan’s SoftBank Group Corp (9984.T) has agreed to buy British chip designer ARM Holdings (ARM.L) for 24.3 billion pounds ($32 billion), in a deal that will retain the company’s management and grow its workforce. Arm, Britain’s preeminent technology com... More »
FRANKFURT Allianz set aside 2.5 billion to 3 billion euros for acquisitions in the euro zone this year and will use the funds to buy back shares if no takeover targets are found, Chief Financial Officer Dieter Wemmer told Boersen-Zeitung. Allianz would like to... More »
NEW YORK The world’s largest asset manager BlackRock Inc (BLK.N) has been buying roughly $275 million of its shares every quarter, a practice chief executive Larry Fink said could continue even though he has previously warned about the downside of share repurc... More »
HELSINKI Nokia’s (NOKIA.HE) mobile network equipment sales fell more than expected in the first quarter and will continue to decline this year, the Finnish company said, as customers hold off new orders while it integrates its purchase of rival Alcatel-Lucent.... More »
At an early 2015 investor conference, SunEdison’s then-chief financial officer, Brian Wuebbels, trumpeted the profit potential in the solar developer’s relationship with a venture it had recently spun off. SunEdison had established TerraForm Power Inc as a “yi... More »
ZURICH Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam received 18.9 million Swiss francs ($19.4 million) from the Swiss bank in 2015 even after he asked to have his bonus cut by 40 percent, according to its annual report published on Thursday. Thiam, who... More »
ZURICH Authorities searched the offices of France’s soccer federation and seized documents in support of a Swiss investigation into former FIFA President Sepp Blatter, Switzerland’s Office of the Attorney General (OAG) said on Wednesday. The operation, carried... More »
LONDON Airbus Group (AIR.PA) reversed part of its plans to cut production of a key aircraft model due to a rebound in demand, a move likely to generate extra cash as it posted 2015 profits in line with expectations on Wednesday. The European planemaker said it... More »
Xerox Corp (XRX.N) will split into two companies, one holding its legacy printer operations and the other its business process outsourcing unit, it said on Friday, in a bid to be more nimble after years of trying to integrate the businesses. Activist investor ... More »
LONDON British insurer Prudential Plc (PRU.L) posted a slightly above-forecast capital ratio under new European rules and appointed a UK head as it attempts to woo investors later on Tuesday. Prudential has been a darling of investors but worries about Asian m... More »
TOKYOActivist investor Daniel Loeb, famously branded a carpet-bagger by actor George Clooney, has turned from bruiser to charmer in Japan, where he has added diversified retailer Seven & I Holdings to his portfolio. Sources familiar with the situation say Loeb... More »
FRANKFURT Deutsche Bank Chief Executive John Cryan will present details of a deep overhaul of Germany’s biggest lender on Thursday, hoping his changes will please investors after rival Credit Suisse’s plan drew a tepid response. One top 30 institutional shareh... More »
ZURICH/LONDON When Tidjane Thiam unveils his plans for Credit Suisse on Wednesday the Swiss bank’s new chief executive will likely rest his case on three Cs: capital, cuts and charm. Thiam will show his hand after taking the reins at Zurich-based Credit Suisse... More »
TORONTO Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a toll. Shares of Scotiabank, Canada’s third-largest bank, were down nearly 1 perc... More »
LONDON European pay-TV group Sky said on Wednesday it expects to perform strongly in its new financial year after better-than-expected 2014/15 profits prompted investors to rethink their growth forecasts for the newly-enlarged group. Sky, formed from the combi... More »
LONDON Lloyds (LLOY.L) is due to set out its dividend plans next week, including how and when it might return surplus capital to shareholders, making the stock more attractive ahead of a planned sale of some of the government’s shares to retail investors, indu... More »
