Google’s parent company had a poor spell in 2022 but is now back on track. Executives are so pleased with GOOG’s performance that they have agreed to pay shareholders the first quarterly dividend since the company’s public launch at an IPO in 2004. The dividend of $0.20 per share will be paid to shareholders on…
Read more
The US Bureau of Economic Analysis (BEA) said that during Q1 2024, US GDP grew by 1.6% according to the ‘advance’ estimate. The BEA stated: In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset…
Read more
The Telegraph reported that the clampdown on the sale and ownership of combustion engines may force Stellantis to cease operations in Britain. According to the Telegraph, Carlos Tavares, the chief executive officer of Stellantis, indicated that a law curbing petrol car sales will compel manufacturers to either sell vehicles at a loss, limit the amount…
Read more
Economists attributed this positive performance to the biotechnological company’s cost-cutting drive and an uptake in sales of its newly-launched Alzheimer’s drug, LEQEMBI. Analysts predicted that the sales of this treatment would be between $13mn and $30mn. Biogen’s Q1 sales of LEQEMBI, as noted by its Japanese partner, Eisai Co., Ltd. (4523.T), were $19mn. Don’t miss…
Read more
Revenue was reported at $42.78bn, which exceeded the $40.04bn that had been anticipated. In terms of earnings per share, $0.49 was also better than the estimated figure of $0.42. Net income of $1.3bn has been reported, and adjusted EBIT of $2.8bn. The Ford Pro commercial fleets division provided one of the most impressive returns, with revenue…
Read more
This is the weakest JPY/USD performance since the mid-1990s. All eyes are now on the Bank of Japan (BOJ) as the markets expect some intervention from this monetary policymaker to bolster the yen. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This currency’s weakness sparked market angst as the Japanese finance minister, Shunichi…
Read more
According to a Bloomberg report, SEBI acted against a pair of foreign portfolio investment firms. The first allegedly engaged in shorting shares of Gautam Adani’s companies after it became aware of the publication of a short-seller report from Hindenburg Research, based in the US. When this report came to light in January 2023, it decreased…
Read more
A year ago, the euro was 1.100 to the US dollar. Analysts believe that a lower-than-expected value of the Hamburg Commercial Bank’s (HCOB) manufacturing PMI contributed to the feebler euro performance. The HCOB manufacturing PMI missed estimates and came in at 45.6, a decline from March 2024’s 46.5. The latest indicators also fell short of…
Read more
The company’s better-than-expected results were said to be linked to increased credit card spending in the US, where Visa obtains over 40% of its overall global revenue. Adjusted net income for the quarter climbed by 17% to $5.1bn, working out as $2.51 per share. This was $0.07 better than the average analyst prediction. Don’t miss…
Read more
This comes after earlier price cuts in the US in the wake of tougher competition, especially since BYD, the Chinese EV maker, overtook Tesla as the foremost EV company globally. Earlier this month, the company’s Q1 financials reflected a drop in global vehicle deliveries – the first in approximately four years. Elon Musk, Tesla’s co-founder…
Read more