SINGAPORE (Reuters) – DBS Group Holdings reported a 10% decline in quarterly profit after net income at Southeast Asia’s largest lender fell 3%, with weaker markets weighing on its wealth management business and treasury market activities. The Singapore-based lender’s net profit fell to S$1.8 billion ($1.30 billion) in January-March from a record S$2 billion a…
ALBUQUERQUE, N.M. (AP) — The federal government has finished another environmental review of a proposed transmission line that will carry wind-generated electricity from rural New Mexico to big cities in the West and similar reviews are planned for two more projects that would span parts of Utah and Nevada, the U.S. Interior Department announced Thursday….
By Jeffrey Dastin and Tiyashi Datta (Reuters) -Amazon.com Inc delivered a disappointing quarter and outlook on Thursday as the e-commerce giant was swamped by higher costs to run its warehouses and deliver packages to customers. Shares fell 12% in after-hours trade. After a long-running surge in sales during the COVID-19 pandemic, Amazon is facing a…
NEW YORK (AP) — Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup. The Seattle-based e-commerce giant’s stock fell 9% in after-hours trading. Amazon reported a loss of $3.84 billion, or $7.56…
SACRAMENTO, Calif. (AP) — California’s attorney general on Thursday subpoenaed ExxonMobil as part of what he called a first-of-its-kind broader investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis, allegations that the company called meritless. Attorney General Rob Bonta said the industry for decades has encouraged the development…
NEW YORK (AP) — Growth slammed into reverse at the start of this year for Robinhood Markets, whose trading app has turned millions of people into investors for the first time. The company said Thursday that it took in $299 million in revenue during the first three months of the year, down 43% from a…
(Reuters) – Robinhood Markets Inc, the brokerage at the center of last year’s retail trading frenzy, posted a 43% fall in first-quarter revenue on Thursday as transaction volumes declined across asset classes. Shares of Menlo Park, California-based Robinhood were down more than 9% at $9.19 in extended trading following results. The shares, which have lost…
By Svea Herbst-Bayliss (Reuters) -Activist investment firm Elliott Management is pushing Canada’s Suncor Energy Inc to add new board directors, overhaul management and begin a strategic review, arguing that its shares have lagged even as crude prices surged to multi-year highs. U.S.-headquartered Elliott, which owns 3.4% of Suncor, called the company a leader in the…
By Abhijith Ganapavaram and Aishwarya Nair (Reuters) – Caterpillar Inc on Thursday warned that demand for excavators in China, one of its largest markets, could slip below pre-pandemic levels in 2022, as construction activity takes a hit in the country from strict pandemic lockdowns. Shares of the Deerfield, Illinois based-company fell 3% to $207 in…
LONDON (Reuters) – Russian businessman Oleg Tinkov, who last week criticized Russia’s war in Ukraine, has sold his 35% stake in the company he founded to a firm controlled by Russian billionaire Vladimir Potanin, the companies said on Thursday. The assets of Tinkov-founded TCS Group Holding include Russia’s second-biggest credit card issuer, Tinkoff Bank, which…
