profits

Will plunging shares end big tech’s era of ‘pornographic’ profits?

Llast week was a bad time to be a tech billionaire. When the pandemic drove the world online, the founders of Facebook, Google and Microsoft reaped wealth gains described as “pornographic” and cemented their position as among the richest cohort ever to have trod the planet. Well, the “good times” are over. Sort of. The …

Will plunging shares end big tech’s era of ‘pornographic’ profits? Read More »

Will plunging shares end big tech’s era of ‘pornographic’ profits?

Llast week was a bad time to be a tech billionaire. When the pandemic drove the world online, the founders of Facebook, Google and Microsoft reaped wealth gains described as “pornographic” and cemented their position as among the richest cohort ever to have trod the planet. Well, the “good times” are over. Sort of. The …

Will plunging shares end big tech’s era of ‘pornographic’ profits? Read More »

Oil companies rake in huge profits amid consumer squeeze

Oil companies rake in huge profits amid consumer squeeze

Major oil companies saw profits soar in the third quarter of 2022, continuing a trend of massive industry profits even as Russia’s invasion of Ukraine causes soaring prices for consumers. Exxon Mobil on Friday morning reported its highest earnings ever at $19.7 billion for the quarter, while Shell reported its second highest of $9.5 billion. …

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Exxon Hits Record Profits Again as Oil Industry Sees Banner Quarter

Exxon Hits Record Profits Again as Oil Industry Sees Banner Quarter

The world’s largest oil companies continue to reap rewards from sustained high commodity prices as Exxon XOM 2.93% Mobile Corp. reported almost $20 billion in profit, its most lucrative quarter ever, while rival Chevron Corp. CVX 1.17% reported just a slight dip from the record haul it set in the previous quarter. Despite the hefty …

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Oil giant Shell reveals plans to hike dividend as quarterly profits more than double

Oil giant Shell reveals plans to hike dividend as quarterly profits more than double

The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company’s Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Bloomberg | Bloomberg | Getty Images British oil major Shell on Thursday reported that quarterly profits more than doubled from the same period last year, but lower refining and …

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The Fed Is Losing Billions, Wiping Out Profits That Funded Spending

The Fed Is Losing Billions, Wiping Out Profits That Funded Spending

(Bloomberg) — Profits and losses aren’t usually thought of as a consideration for central banks, but rapidly mounting red ink at the Federal Reserve and many peers risks becoming more than just an accounting oddity. Most Read from Bloomberg The bond market is enduring its worst selloff in a generation, triggered by high inflation and …

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Wall Street banks' profits slide as economic clouds loom, some beat forecasts

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Oct 14 (Reuters) – Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), Citigroup Inc (CN) and Wells Fargo & Co’s …

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Ether drops 15% since major Ethereum network upgrade as traders take profits and fret over rate hikes

Ether drops 15% since major Ethereum network upgrade as traders take profits and fret over rate hikes

Ethereum underwent a huge network upgrade called the merge which proponents say will make transactions much more energy efficient. Following the merger, ether prices have dropped following a huge run up ahead of the event. Jakub Porzycki | Nurphoto Getty Images Ether has fallen more than bitcoin since the cryptocurrency’s underlying technology, the Ethereum network, …

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Ford outlines EV investment structure for its dealers as it chases Tesla-like profits

Ford outlines EV investment structure for its dealers as it chases Tesla-like profits

Ford CEO Jim Farley poses next to a model of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, April 26, 2022. Rebecca Cook | Reuters LAS VEGAS – Ford Motor is asking its nearly 3,000 dealers to invest upwards of $1 million in upgrades to …

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EU to claw back energy firms' profits rather than cap Russian gas price

EU to claw back energy firms’ profits rather than cap Russian gas price

Register now for FREE unlimited access to Reuters.com Register EU countries ask bloc to propose windfall revenue cap Ministers also request EU proposal on gas price cap Countries resist EU proposal to cap Russian gas prices BRUSSELS, Sept 9 (Reuters) – EU energy ministers on Friday tasked the European Commission to press ahead with a …

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