Profit Plunges
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Corporate profits soar
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Corporate profits, economic growth skyrocket During the final quarter of 2023, gross domestic product (GDP) and corporate ...The Hill - Politics -
China Industrial Profits Return to Growth
China’s industrial profits returned to growth at the start of the year, adding to signs that the world’s second-largest economy is on stronger footing.The Wall Street Journal - World - China -
Princess Kate’s Cancer Diagnosis Plunges Royal Family Into Uncertainty
First King Charles and now Catherine, Princess of Wales, are facing grave health concerns, stretching an already slimmed-down monarchy.The New York Times - World -
US West hydropower production plunged to 22-year low last year
Hydropower generation in the U.S. West plunged to a 22-year low last year — an 11 percent drop from the year before, according to a new federal data analysis. The total amount produced in the region amounted to 141.5 million megawatt-hours, or ...The Hill - Politics -
45 dead as bus plunges from bridge into ravine in South Africa
Only survivor after vehicle falls 50 metres and catches fire is eight-year-old who was taken to hospital with serious injuries. An eight-year-old child was the sole survivor after a bus carrying 46 people fell 50 metres from a bridge in South ...The Guardian - World -
Bus plunges off South Africa bridge, killing 45
An eight-year-old girl is the only survivor after a bus carrying Easter pilgrims plunges into a ravine.BBC News - Top stories -
Bus in South Africa plunges off bridge, killing 45
Only one passenger, an 8-year-old girl, survived the accident in South Africa's northern province of Limpopo.CBS News - World -
China’s answer to Instagram makes first profit
Shanghai-based unicorn known as ‘little red book’ brought in $500mn in net profit last yearFinancial Times - World - China -
Kingfisher Warns on Profit, Weak Demand Outlook
Kingfisher said it expected profits to fall this year, flagging weaker consumer demand, and that it would streamline its French business.The Wall Street Journal - World -
PetroChina Posts Record Profit, but Revenue Misses Estimates
Chinese state-controlled oil company PetroChina said its annual profit rose to a record due to lower operating expenses, but revenue fell on weaker oil prices.The Wall Street Journal - World -
PetroChina Posts Record Profit, but Revenue Misses Estimates
Chinese state-controlled oil company PetroChina said its annual profit rose to a record due to lower operating expenses, but revenue fell on weaker oil prices.The Wall Street Journal - Business -
Kingfisher Warns on Profit, Weak Demand Outlook
Kingfisher said it expected profits to fall this year, flagging weaker consumer demand, and that it would streamline its French business.The Wall Street Journal - Business -
U.S. Regulators Urge Congress to Look Into Grocery Profits
Antitrust concerns among the biggest chains date back to pandemic-era supply chain issues.Inc. - Business -
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BYD misses profit forecasts as Huawei challenge emerges
Warren Buffett-backed company loses some market share to sanctions-hit Chinese telecoms groupFinancial Times - World -
UBS CEO Ermotti to Steer Credit Suisse Integration
UBS said said Sergio Ermotti is set to stay as chief executive officer to see through the integration of Credit Suisse, and sought to address concerns about its size and potential needs for tighter regulation.The Wall Street Journal - World -
The Atlantic tops 1 million subscribers and is profitable
The Atlantic has topped 1 million subscribers and is profitable, the company announced this week. Overall revenue for the company is up more than 10 percent year over year, while advertising booked year-to-date is also up 33 percent from 2023, it ...The Hill - Politics -
Tourism help plea to avoid planet or profit choice
One business owner claims more support is needed for businesses looking to become greener.BBC News - Top stories -
Trump says 'I love Truth Social' one day after DWAC stock plunges on social media merger vote
Donald Trump faces big civil judgments, but the merger of Digital World Acquisition and his social media company could net him a $3 billion windfall.CNBC - Business - Donald Trump -
Reddit shares plunge almost 25% in two days, finish the week below first day close
Reddit shares are plummeting from the rally highs experienced after the social messaging company's IPO last week.CNBC - Business -
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Bus plunges off a bridge in South Africa, killing 45 people. An 8-year-old is the only survivor
Authorities say a bus carrying worshippers headed to an Easter weekend church gathering plunged off a bridge on a mountain pass and burst into flames in South Africa, killing at least 45 peopleABC News - Top stories -
8-year-old is the only survivor after bus plunges off cliff in South Africa, killing 45 people
CAPE TOWN, South Africa — A bus carrying worshippers headed to an Easter festival plunged off a bridge on a mountain pass and burst into flames in South Africa on Thursday, killing at least 45 people, authorities said.NBC News - Top stories -
Sinopec’s profit fell in 2023 amid oil market volatility
The company said it expects international oil prices to “fluctuate at medium to high levels” in 2024.MarketWatch - Business -
WuXi AppTec's Net Profit Jumps, Reiterates It Doesn't Pose Security Threat
Chinese biotechnology company WuXi AppTec said net profit jumped last year, while reiterating that it doesn’t pose a security threat to any country amid worries over a potential U.S. ban.The Wall Street Journal - Tech -
UK MPs to be given warnings on threat of Chinese cyber attacks
Reprisals expected just as company from China eyes investment in Midlands battery gigafactoryFinancial Times - Business - United Kingdom -
What is the preventive cancer treatment Princess Catherine is receiving?
Chemotherapy can target microscopic cells to prevent the disease from spreadingFinancial Times - Business -
B&Q owner Kingfisher forecasts profits to fall this year
London-listed group strikes cautious note on DIY marketFinancial Times - Business -
McCormick’s stock gains as spice maker benefits from consumers eating at home more
McCormick’s net income climbs 19% as spice company refocuses on more profitable products.MarketWatch - Business -
BYD Net Profit Rises as It Overtakes Tesla as Top EV Seller
BYD sold more than 526,000 fully electric vehicles in the fourth quarter, topping Tesla for the first time as the world’s largest seller of EVs on a quarterly basis.The Wall Street Journal - World -
BYD Net Profit Rises as It Overtakes Tesla as Top EV Seller
BYD sold more than 526,000 fully electric vehicles in the fourth quarter, topping Tesla for the first time as the world’s largest seller of EVs on a quarterly basis.The Wall Street Journal - Business -
Carnival Warns of Profit Hit From Baltimore Bridge Collapse
The cruise operator said it expects the disruption to hit annual adjusted earnings by as much as $10 million.The Wall Street Journal - World -
H&M shares jump 14% as profit smashes expectations
The Swedish retailer significantly beat profit expectations for its fiscal first quarter.CNBC - Business -
Carnival Warns of Profit Hit From Baltimore Bridge Collapse
The cruise operator said it expects the disruption to hit annual adjusted earnings by as much as $10 million.The Wall Street Journal - Business -
Walgreens tops quarterly revenue estimates, but narrows profit outlook in 'challenging' economy
Walgreens posted a steep net loss for the quarter as it recorded a hefty goodwill impairment charge related to its primary-care provider VillageMD.CNBC - Business -
How the Atlantic Went From Broke to Profitable in Three Years
The publication’s new chief executive raised subscription prices, and moved away from day-to-day news coverage to focus on deeply reported stories with broad appeal.The Wall Street Journal - World -
GameStop makes layoffs as video game retailer looks for profitability boost
GameStop Corp. has been cutting jobs, the video game retailer and original meme stock said this week.MarketWatch - Business -
Corporate profits hit record high as economy boomed in fourth quarter of 2023
Gross domestic product (GDP) and corporate profits both smashed expectations in the fourth quarter of 2023 as the knock-on effects of pandemic stimulus juiced the U.S. economy. GDP came in at a 3.4 percent increase, below the massive bump of 4.9 ...The Hill - Politics -
The maker of Tommy Bahama says shoppers are still hesitant. It’s investing in new stores anyway.
Shares of Oxford Industries Inc. fell after hours on Thursday after the maker of Tommy Bahama and Lilly Pulitzer clothing warned that its investments in expansion and consumer hesitation would weigh on profits in the months ahead.MarketWatch - Business -
Commodity traders sitting on up to $120bn in cash after years of record profits
Gas and power trading has overtaken oil as the biggest source of profits in the sector, report findsFinancial Times - Business