Major aerospace companies are sounding the alarm on their supply chains as shortages ranging from raw materials to castings or semiconductor chips pressure earnings and crimp the industry's ability to…
Category: Business
Refiners Valero, PBF cruise past profit estimates on strong margins
U.S. refiners Valero Energy Corp (VLO.N) and PBF Energy Inc (PBF.N) on Thursday posted bumper second-quarter profits that handily beat Wall Street estimates, lifted by higher demand for fuel and…
Securitas profit up on airport, electronic security demand
Securitas (SECUb.ST) on Thursday reported a slightly bigger than expected rise in second quarter profit helped by demand for electronic security and further recovery in airport security in Europe. The…
Altria’s Juul stake goes up in smoke: from $12.8 bln to $450 mln
Marlboro maker Altria Group Inc (MO.N) on Thursday further slashed the value of its stake in Juul Labs Inc to just $450 million, blaming a decrease in the chances of…
EY names Saulius Adomaitis to lead oil and gas business
Big Four accounting firm Ernst & Young said on Thursday it had appointed Saulius Adomaitis as the new head of its oil and gas business, which will receive a $500…
Shell smashes record again with $11.5 bln profit
Shell (SHEL.L) posted record results on Thursday, with a $11.5 billion second-quarter profit smashing the mark it set only three months ago, lifted by strong gas trading and a tripling…
The global recession drum beat is getting louder
Sharply higher interest rates, red-hot inflation and a prolonged energy crisis are leading to conviction that the world economy is headed inexorably towards recession. It's a risk U.S. Treasury Secretary…