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PwC profits fall in Asia after scandals in China and Australia
Big Four firm reports slower global growth as regional woes compound consulting industry slowdownBusiness - Financial Times - October 29 -
FirstFT: Twin scandals hit PwC’s Asia profits
Also in today’s newsletter, the fallout from the Madison Square Garden rally and what happened to Project 2025?World - Financial Times - October 29 -
Beyoncé brings star power as Kamala Harris touts ‘freedom’ in Texas
Vice-president seeks to energise women voters as White House race against Donald Trump tightensBusiness - Financial Times - October 26 -
Nasdaq hits record high as tech stocks rebound from summer sell-off
Sharp turnaround from 15% slide as investors make ‘heads I win, tails you lose’ betBusiness - Financial Times - October 25 -
Australian federal police begin search of PwC headquarters amid tax leaks scandal
Chief executive says company is cooperating with the investigation, which is related to individuals who have left the firm. Follow our Australia news live blog for latest updates Get our ...World - The Guardian - November 4 -
Kering Warns on Profit After Sales Slump Due to Gucci Revamp, Asia Woes
The French luxury group posted third-quarter revenue below analysts’ estimates and said it expects operating profit to nearly halve this year.Business - The Wall Street Journal - October 23 -
Oil ends down on the day, up for the week on conflicting supply-demand prospects
Oil futures finished lower on Friday, with China’s latest round of stimulus measures failing to lift expectations for energy demand in the face of President-elect Donald Trump’s support for more ...Business - MarketWatch - November 8 -
PayPal beat big on a profit metric, but here’s why its stock is falling
PayPal’s fourth-quarter revenue view came in below expectations. The company said it’s focusing on “profitable growth.”Business - MarketWatch - October 29 -
Moncler Revenue Falls on Lower Demand in Asia, Europe
The Italian fashion group said the results were hit by lower consumer confidence in several markets, as the luxury industry continues to grapple with a period of volatility.Business - The Wall Street Journal - October 29 -
BP shares fall to lowest since 2022 after sharp drop in the oil major's third-quarter profit
British oil major BP on Tuesday reported its weakest quarterly earnings in nearly four years, weighed down by a slump in crude prices.Business - CNBC - October 29 -
Asia braces for steep China tariffs in second Trump term
Former president has outlined plans to revive trade war with Beijing and questioned backing for TaiwanWorld - Financial Times - November 6 -
Mercedes-Benz and Porsche look for cost cuts after China slump hits profits
German carmakers exposed to Asian nation’s economic malaise after benefiting from its booming auto marketBusiness - Financial Times - October 25 -
Nomura profits surge as chief takes pay cut over trading scandal
Japan’s biggest investment bank and brokerage beats expectations but is still dogged by controversyBusiness - Financial Times - November 1 -
China’s largest coffee chain plans to take on Starbucks in US
Luckin Coffee’s expansion into rival’s home market comes five years after company was delisted from Nasdaq and finedBusiness - Financial Times - October 29 -
TotalEnergies Profit Falls as Downstream Margins Bite
TotalEnergies reported a sharpy-lower net profit in the third quarter on weaker refining margins, production and prices, but said output should pick up going forward.Business - The Wall Street Journal - October 31 -
Saudi Aramco Profit Falls on Oil-Price Weakness
The oil company said lower oil prices and refining margins pushed down profit, adding it plans to pay dividends of $31.05 billion.Business - The Wall Street Journal - November 5 -
DHL Owner Net Profit Falls on Costs
Deutsche Post reported a lower net profit on higher costs and said it expects earnings to grow in the fourth quarter, even in a muted economic environment.Business - The Wall Street Journal - November 5 -
BMW Posts Sharp Fall in Automotive Profitability
BMW reported a sharp drop in profitability for its key automotive unit, hit by costs of a recall and weak demand in China, even as it forecast stronger earnings in the fourth quarter.Business - The Wall Street Journal - November 6 -
NetEase's Profit Falls on Weaker Gaming Revenue
The Chinese videogame giant’s profit tumbled for a second straight quarter and revenue missed market expectations as the main business delivered a soft performance.Business - The Wall Street Journal - November 14 -
Archer Daniels Midland Profit Plunges, Revenue Falls
Archer Daniels Midland said profit plunged in the third quarter, shortly after saying it would restate its 2023 filing with the Securities Exchange Commission, along with the first and second ...Business - The Wall Street Journal - 2 days ago -
China’s industrial profits plunge as economic momentum falters
Steep monthly decline in September comes as policymakers battle to restore confidenceBusiness - Financial Times - October 27 -
Volkswagen profit plunges 64% as China sales slide
Europe’s largest carmaker highlights ‘urgent need’ for cost reductions and efficiency gainsBusiness - Financial Times - October 30 -
China woes weigh on profits at Toyota, Honda and BMW
Even the strongest international carmakers are suffering from intense competition in the Chinese marketWorld - Financial Times - November 6 -
China’s ‘mind-blowingly’ cheap shopping app Temu hits roadblocks in south-east Asia
Known for its deep discounts and viral marketing, the online marketplace has fallen afoul of regulators for threatening the livelihoods of local vendors. Chinese online marketplace Temu has ...World - The Guardian - 3 days ago -
Ferrari reiterates guidance as China deliveries fall sharply
Ferrari on Tuesday reiterated guidance that it had increased earlier in the year as the sports-car maker said shipments fell sharply in China.Business - MarketWatch - November 5 -
AstraZeneca shares fall as China probe intensifies
Investigation of group’s China chief Leon Wang comes after several employees were found guilty of fraudWorld - Financial Times - November 5 -
Richemont Sales Fall as Luxury's China Woes Linger
The Cartier owner said weaker consumer spending in China hit sales as a luxury downturn that is hurting most of the players in the industry rumbles on.Business - The Wall Street Journal - November 8 -
Australia to invest $12bn in missile manufacturing amid China’s rise
Canberra has prioritised domestic capabilities in defence strategy overhaul to meet ‘missile age’World - Financial Times - October 30 -
Honeywell’s stock falls as sales miss and lowered guidance offsets profit beat
Honeywell International Inc.’s stock fell 2.5% early Thursday, after the aerospace and technology company missed third-quarter sales estimates and lowered its guidance, offsetting a profit beat.Business - MarketWatch - October 24 -
BP Profit Falls, but It Still Sees ‘Potential to Grow’ in Oil and Gas
The energy giant’s chief executive, Murray Auchincloss, has taken a profit-oriented approach and said in an interview that the company’s “principal aim” was increasing earnings.Business - The New York Times - October 29 -
Caterpillar’s stock falls as weak equipment sales lead to a rare profit miss
Caterpillar’s stock fell after a rare profit miss, while revenue was below expectations for a fourth straight quarter.Business - MarketWatch - October 30 -
Exxon and Chevron suffer profit falls on lower oil prices
Cheaper commodities and weaker refining margins hit earnings after bumper performances in 2022 and 2023Business - Financial Times - November 1 -
NAB Raises Dividend Despite a 6.1% Fall in Annual Profit
National Australia Bank raised its dividend despite a 6.1% fall in annual profit on lower lending margins and higher costs.Business - The Wall Street Journal - November 6
