Byd Misses Profit Forecasts
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Alstom to Cut Costs, Forecasts Higher Profits
Alstom said adjusted earnings rose 17% with an improved margin and guided for further profit growth in 2025, as it looks to cut overheads and procurement costs.The Wall Street Journal - Business -
Applebee’s and IHOP parent suffers rare profit miss as consumers remain cautious
Stock falls premarket as same-restaurant sales for both Applebee’s and IHOP chains fell more than expected.MarketWatch - Business -
China’s BYD and Neta target Indonesia market with EV investments
Automakers plan local operations to break into market dominated by Japanese playersFinancial Times - World - China -
Arm crushes earnings expectations, but stock falls as forecast lacks wow factor
After a sharp run for Arm shares recently, they looked set to give back some of their gains after Wednesday afternoon’s earnings report.MarketWatch - Business -
Arm shares drop as revenue forecast falls short despite AI boom
Lacklustre outlook raises concerns that spending on artificial intelligence chips could slowFinancial Times - Business -
Airbnb shares slide on lower revenue forecast despite a doubling of net income
Airbnb's profit more than doubled last quarter, but management's disappointing revenue forecast sparked a roughly 7% drop in its stock in after-market tradingABC News - Tech -
Duolingo’s longer-term forecast gets brighter, but short-term outlook disappoints
Duolingo Inc. on Wednesday said it saw a jump in demand in the first quarter, but investors appeared more concerned about the second, even as the language-learning app offered up more optimism further out.MarketWatch - Business -
China’s exports rise in April as Beijing prioritises high-tech manufacturing
Xi Jinping’s trade and industrial policy has drawn accusations of dumping from the US and EuropeFinancial Times - World - China -
Extending Trump’s tax cuts would cost US trillions of dollars in new forecast
The Congressional Budget Office (CBO) projected in a new report that the extension of tax cuts passed as part of former President Trump’s signature 2017 tax law could add trillions of dollars to the nation’s deficits over roughly the next decade. ...The Hill - Politics - Donald Trump -
Toyota Motor Projects Annual Profit Drop
The Japanese carmaker projected a drop in fiscal-year profit on higher costs and announced a share buyback after posting stronger fourth-quarter net profit thanks partly to a weaker yen.The Wall Street Journal - Business -
CBA Reports Lower Profit as Margins Weaken
Commonwealth Bank of Australia posted a fall in third-quarter profit, reporting slightly lower margins as competition remains in the country’s retail banking sector.The Wall Street Journal - World -
Miss Teen USA resigns days after Miss USA steps down
Miss Teen USA, UmaSofia Srivastava, resigned from her title on Wednesday, just days after Miss USA did the same. In a post on Instagram, Srivastava said she had been “grappling with this decision” for months, but ultimately came to the decision to ...The Hill - Politics -
I will miss playing for England - Tuilagi
England centre Manu Tuilagi will miss playing for England as he prepares to leave Sale Sharks for Bayonne in France.BBC News - Top stories -
New York Times stock gains as adjusted profit rises by 41%
Digital subscriptions rise by 210,000 in a ’strong start’ for the year.MarketWatch - Business - New York -
Munich Re Says Full-Year Profit Could Top €5 Billion
The German reinsurer posted net profit for the first three months of 2024 of $2.3 billion, in line with preliminary figures, and said it was “more likely” it would surpass its full-year profit target.The Wall Street Journal - Business -
EU reaches deal on using profits from Russia’s frozen assets for Ukraine
10% of the windfall profits will fund non-lethal aid to assuage EU member states that do not wish to fund arms. The EU has reached a deal to seize profits from Russia’s frozen assets to fund weapons and aid for Ukraine within months.. EU senior ...The Guardian - World - Ukraine -
EU agrees to arm Ukraine using profits from Russian state assets
Belgium’s central securities depository Euroclear expected to start transferring money to bloc in JulyFinancial Times - Business - Ukraine -
TPG Profit Slips as Private-Equity Firm Digests Additions
The buyout firm’s first-quarter profit fell on higher expenses that reflect growth over the past year, and executives at the alternative-asset manager laid out plans to further expand its offerings.The Wall Street Journal - World -
Airbnb wary of slowdown after early Easter sparks jump in profits
Home rental platform’s revenue growth forecast of 8%-10% in the second quarter is below recent trendFinancial Times - Business -
Robinhood Stock Jumps After Company Reports Record Revenue and Profit
The online brokerage’s revenue and earnings topped Wall Street expectations. Shares were up about 6% after hours.The Wall Street Journal - World