Exxon Mobil and Chevron reported first-quarter earnings and revenue declines Friday as lower refining margins and natural gas prices took a toll on the energy giants. Meanwhile, the two U.S. supermajors continue to squabble over Chevron's attempt to move into oil-rich Guyana. Exxon Mobil Q1 EPS came in at $2.06, down 27% compared to Q1 2023, while revenue decreased 4% to $83.08 billion.
Amazon stock shares are up a whopping 76% in the past year, as of May 6. What's more, the company reported strong first quarter earnings on April 30, with operating income of $15.3 billion, according...
The Reserve Bank of Australia (RBA) has kept the cash rate on hold at a 12-year high of 4.35 per cent.
Peter King warned more Aussies would have to be unemployed if mortgage holders want to see some relief.
Homeowners are feeling the pinch of the cost-of-living crisis, with the number of loans past due at ANZ increasing double digits.
(Bloomberg) -- As China’s industrial capacity emerged as a key trade issue, a surge in Chinese bank loans to the sector has often been cited as evidence that Beijing is engaging in a renewed manufacturing push that could flood global markets with cheap goods.Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortOne Out of Every 24 New York City Residents Is Now a MillionaireEinhorn Says Markets Are ‘Broken.’ Here’s
Former U.S. President Donald Trump's media and technology company said it had replaced its auditor, BF Borgers, after the U.S. Securities and Exchange Commission (SEC) charged the accounting firm with "massive fraud" on Friday. Trump Media & Technology Group said in a filing with the SEC on Monday that it had switched to Semple, Marchal & Cooper on Saturday. The change was recommended and approved by the company's audit committee.
BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner's thinking said. The "Big Australian" was rebuffed by its smaller rival on April 26 after submitting a $39 billion takeover proposal, in a plan seen as complex because it required Anglo to offload its shares in Kumba Iron Ore and Anglo American Platinum (Amplats) to Anglo American's shareholders before any deal took place. Anglo American owns 78.6% of Amplats and 69.7% of Kumba.
It's good practice for investors to think beyond the "Magnificent Seven" stocks, the CEOs of Apollo and Avenue Capital Group said.
Mortgage deals have been rising as expectations of an imminent interest rate cut fade.
(Bloomberg) -- Instacart is partnering with Uber Technologies Inc. to offer restaurant delivery through the Instacart app — taking on the top US food delivery app, DoorDash Inc.Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortOne Out of Every 24 New York City Residents Is Now a MillionaireEinhorn Says Markets Are ‘Broken.’ Here’s What Data ShowsInstacart users in the US will be able to order from hundreds of t
The company now expects full-year 2024 revenue to be between $1.94 billion and $1.99 billion, compared with its previous forecast of $1.88 billion to $1.94 billion. Axon is the leading maker of police body cameras in the U.S. and supplies drones to law enforcement agencies in North America, Europe and Australia. It expects adjusted core profit in the range of $430 million to $445 million, up from its previous forecast range of $410 million to $430 million.
Warren Buffett has a fortune worth over $131 billion. He got there by consistently investing in the right companies throughout his multi-decade career. However, Buffett advises the average person...
It hasn't been the best quarter for Big River Industries Limited ( ASX:BRI ) shareholders, since the share price has...
As global markets navigate through a mix of economic signals, with Hong Kong's Hang Seng Index recently witnessing a notable rise, investors are keenly watching the performance and potential of dividend stocks in this vibrant financial hub. In light of current market conditions, understanding the stability and yield offered by select Hong Kong dividend stocks can provide valuable insights for those looking to enhance their investment portfolios.
The Reserve Bank of Australia has held interest rates, but there's no sign of reprieve for those under mortgage stress.
BP's first-quarter earnings plunged by 40% to $2.7 billion, missing forecasts after lower energy prices and a U.S. refinery outage offset increased oil and gas production. Profit fell 5% short of analyst forecasts, denting efforts by CEO Murray Auchincloss to steady the company after a bruising period that followed the abrupt resignation of predecessor Bernard Looney in September. Auchincloss, who was head of finances under Looney, has vowed to simplify BP's operations and cut costs in the face of investor doubts over plans to reduce the company's focus on oil and gas and expand a low-carbon business.
(Bloomberg) -- Surging rents across many developed economies are proving to be a stubborn hurdle for central banks as they struggle to nail down inflation once and for all this tightening cycle. Most Read from BloombergTrump Judge Indefinitely Postpones Documents Case TrialIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortOne Out of Every 24 New York City Residents Is Now a MillionaireEinhorn Says Markets Are ‘Broken.’ Here’s What Data ShowsIn the US, UK, Canada and Australia, rapidly ris
NEW YORK (Reuters) -Oil prices closed slightly lower on Tuesday on signs of easing supply concerns, while market participants shifted their focus to U.S. stockpiles data due later today and Wednesday. Brent crude futures settled 17 cents lower at $83.16 a barrel, and U.S. West Texas Intermediate crude futures closed 10 cents lower at $78.38. Prices fell further in thin post-settlement trading after market sources said that data from the American Petroleum Institute showed a jump in U.S. crude and fuel stocks last week.
Two Chinese companies and JPMorgan have become the latest banking groups to cut jobs in China as a slow recovery in listing and dealmaking activities force them to ramp up cost controls, six sources with knowledge of the matter said. Beijing-based China International Capital Corp (CICC) is planning to reduce its investment banking headcount by at least 10% this year, two people with knowledge of the matter told Reuters.
The dollar was a touch lower on Monday as a soft U.S. jobs report on Friday boosted wagers that the Federal Reserve may still cut rates multiple times this year, while the yen turned lower after last week's suspected intervention. The yen last week clocked its strongest weekly gain since early December 2022 following two bouts of suspected intervention from Tokyo to pull the currency away from a 34-year low of 160.245 per dollar. On Monday, the yen was lower, slipping 0.5% to 153.74 per dollar.
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