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 World News

India: DAC Approvs purchase of defence equipment worth Rs.2,700 cr ($378.7Mn)

India: DAC Approvs purchase of defence equipment worth Rs.2,700 cr ($378.7Mn) The meeting of the council, the highest decision-making body for defence purchase, was chaired by Defence Minister Nirmala Sitharaman. PTI – TFM Watch The Defence Acquisition Council (DAC) on Wednesday approved acquisition of defence equipment for about Rs.2,700 crore ($378.7Mn), official sources said. The […]

Finance Update

Cabot Oil and Gas Q4 earnings misses estimate; Cash Flow & Reserves Jump

Cabot Oil and Gas Corp missed Wall Street estimates for quarterly profit on Friday Companies like Cabot, which sells natural gas to industrial customers and power generation facilities, have been trying to increase production from the Marcellus area. The company said it would focus more on developing the Lower Marcellus region. By Arundhati Sarkar on […]

Finance Update World News

U.S. banking sector recorded $59.1 billion in profits in the Q4 of 2018

U.S. banks record $59.1 billion in profits in Q4 of 2018 TFM Watch WASHINGTON (Reuters) – The U.S. banking sector recorded $59.1 billion in profits in the fourth quarter of 2018, down slightly from the third quarter’s record level but still up significantly from the prior year, according to data from the Federal Deposit Insurance […]

Finance Update

Malaysia’s AirAsia recorded its third consecutive quarterly loss

Malaysia’s AirAsia X posts Q4 net loss on impairment, higher fuel expense The long-haul offshoot of Malaysia’s flagship budget airline AirAsia Group said in an exchange statement it provided an impairment due from a joint venture amounting to 24 million ringgit ($5.89 million) during the fourth quarter. TFM Watch Malaysia’s AirAsia X recorded its third […]

Finance Update

Israel’s Wix.com sees 25% revenue growth in 4th quarter 2019

Israel’s Wix.com fourth-quarter profit up, sees 25 revenue growth in 2019 TEL AVIV (Reuters) – Wix.com, which helps small businesses build and operate websites, posted higher-than-expected fourth-quarter profit and forecast a 25 percent rise in revenue in 2019. It reported on Wednesday a net profit of 42 cents per share excluding one-time items, up from […]