Finance Update

Worlds biggest clothing retailer ZARA reported profits of 3.44 billion euros ($3.88 billion)

Investors fret about Zara-owner’s slowing sales growth. The world’s biggest clothing retailer reported profits of 3.44 billion euros ($3.88 billion) on sales of 26.15 billion euros. – TFMNews Zara owner Inditex reported a 2 percent rise in full-year profit on March 13 as it launched Zara online into 106 new markets in November and benefited […]

Finance Update

VW to launch electric models; profit margin slips to 3.8 percent last year

The profit margin at its core VW brand slipped to 3.8 percent last year, down from 4.2 percent, as higher investments into electric cars and challenges getting combustion-engined vehicles certified ate into profits, VW said. – TFMNews WOLFSBURG, Germany, March 12 (Reuters) – Volkswagen on Tuesday said it will launch 70 new electric models by […]

Business News

Volkswagen’s 5.9 billion euros annual savings goal may cut around 7,000 workforces

Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help the Wolfsburg, Germany-based carmaker to cut its workforces between 5,000 and 7,000 positions. By Reuters @moneycontrolcom – TFM News Volkswagen on March 13 stated it will reduce its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros […]

Business News

Telsa’s CEO Elon Musk presents estimate again for its 2019 production on Friday

Telsa’s CEO Elon Musk presents estimate again for its 2019 production on Friday Highlights Tesla will make somewhere in the range of 420,000 and 600,000 vehicles in 2019. A fizzled Tweet landed CEO Musk in the line of sight of the U.S. Securities and Exchange Commission three days prior. Here’s his full statement about how […]

Finance Update

National Aluminium Company (Nalco) announced interim dividend of Rs.4.50 per share

National Aluminium Company (Nalco) announced interim dividend of Rs.4.50 per share The payment of interim dividend will be made at the very latest March 31 to all qualified investors. – TFM Watch   Aluminium producer Nalco on Friday announced interim dividend of Rs.4.50 per share for fiscal year 2018-19. “The Board of directors of the […]

Business News

Brazil’s bank Caixa selling 9-billion-real ($2.4 billion) stake, owned in Petroleo Brasileiro SA – sources

Brazil’s bank Caixa selling 9-billion-real ($2.4 billion) stake, owned in Petroleo Brasileiro SA – sources The stock offering of the 2.3 percent stake possessed by Caixa in Petrobras, as the oil organization is known, relies upon the distribution of new presidential pronouncement approving the deal. – TFM Watch SAO PAULO (Reuters) – Brazilian state-owned bank […]

Business News

Online grocery startup Grofers raised fresh capital of $60 million esteeming company valuing $425 million

Online grocery startup Grofers raised fresh capital of $60 million esteeming company valuing $425 million Japan’s SoftBank Vision Fund (SVF), US based Tiger Global and Sequoia Capital have impelled around $60 million fresh capital for this online grocery startup – TFM Watch Online general store Grofers has raised nearly $60 million additional capital by SoftBank Vision Fund, […]

Finance Update World News

India State-run electricity distribution companies (discoms) posted losses over Rs.15,000 crore in the first half of FY19

India State-run electricity distribution companies (discoms) posted losses over Rs.15,000 crore in the first half of FY19 The UDAY schem has gone under a cloud as there is stagnation in the improvement of different operational parameters. Losses of the discoms in Telangana, Tamil Nadu, Madhya Pradesh, Assam and Andhra Pradesh dramatically increased during first half […]

Finance Update

Thomson Reuters reported $1.52 billion income in Q4; beats expectations

Thomson Reuters presented higher than expected fourth income of $1.52 billion Highlights Thomson Reuters detailed final quarter income of $1.52 billion, comparatively $1.41 billion in earlier year.  They have profited by the organization repurchasing $10 billion worth of shares since August. The organization has put aside $2 billion to develop its Legal, Tax and Accounting and […]

Finance Update World News

German chemicals group BASF reported 60% Drop in operating profit in Q4

German’s BASF reported 60% Drop in operating profit in fourth-quarter Final quarter income before interest and tax dove 59 percent to 630 million euros ($715.37 million), over the normal analyst gauge of 598 million euros in a Reuters survey. Reuters – TFM Watch LUDWIGSHAFEN, Germany (Reuters) – German’s BASF announced an about 60 percent drop […]

Finance Update World News

The e-cigarette maker Juul Labs Inc projected $3.4 billion revenue for 2019

Juul Labs Inc projects $3.4 billion revenue for 2019, Despite Flavored Vape Restrictions The e-cigarette maker forecasts revenue that would nearly triple from last year. By Olivia Zaleski and Ellen Huet on Bloomberg – TFM Watch Bloomberg: Juul Labs Inc.’s move to stop selling most flavored e-cigarettes in U.S. stores dealt a blow to the company’s financial results last quarter, […]

Business News

News should not be missed; Business Deals and Corporate Actions

Business Deals, Company Expansions, Stake Acquisitions and Corporate Actions – 25Th Feb – 27Th Feb Prakash Poojary, TFM News 100 sugar mills may face SEBI action; crackdown could freeze cane procurement: Report Private placement norms allow an unlisted company to privately sell shares to a maximum of 49 people HG Infra bags an EPC order […]

Finance Update

Dropbox Inc forecasted drop in current-quarter operating margins

Dropbox expects drop in first-quarter operating margin, shares fall File sharing and storage company Dropbox Inc shares down nearly 11% on 22nd Feb after forecasting drop in current-quarter operating margins. TFM Watch (Reuters) – File sharing and storage company Dropbox Inc forecast a drop in current-quarter operating margins from a year earlier, sending its shares […]

Finance Update World News

Singapore’s OCBC reported its lowest quarterly profit in nearly two years

Singapore’s OCBC reported its lowest quarterly profit in nearly two years OCBC’s weak earnings came from practically every part of its business coupled with a significant jump in its non-oil non-performing loans, Nomura analyst Marcus Chua said in a report. TFM Watch SINGAPORE (Reuters) – Singapore’s Oversea-Chinese Banking Corp Ltd unexpectedly reported its lowest quarterly […]