What's behind oil companies' advocacy for climate change technology

The oil industry appears to be doing well by most accounts. The demand for oil and gas is still very strong, and the industry made remarkable profits last year. But the industry is also feeling the heat to solve the climate crisis, and it wants a piece of the federal government's massive pie ...

JAPAN’S CORPORATE PROFITS GAIN 26.0% IN JAN-MARCH PERIOD

Highlights –

• Japan’s corporate profits gain 26.0% in Jan-March period.
• Strong recovery by the manufacturing sector led to the gains.
• The manufacturing sector posted a 63.2 percent expansion in pretax profits.
• Corporat...

CHINA’S INDUSTRIAL FIRMS MAINTAIN EXPANSION OF ITS BUSINESS IN Q1 2021

Highlights –

• China’s industrial firms maintain expansion of its business in Q1 2021.
• Major industrial firms raked in 1.83 trillion yuan in combined profits.
• In March profits of major industrial firms jumped 92.3% year on year to...

JAPAN GOVT. POSTED OCT-DEC CORPORATE PROFITS TO BOUNCE BACK

Highlights –

• Japan govt. posted Oct-Dec corporate profits to bounce back.
• Pretax profits of domestic companies were down just 0.7 percent from a year earlier.
• The pace of decline slowed down significantly compared to a 28.4 percent tu...

CHINA’S ECONOMY LOOKS UP WITH 4.1 PERCENT SEDATE GROWTH IN INDUSTRIAL SECTOR IN 2020

• China’s top-of-the-line industrial firms posted record growth rising by 4.1 % year-on-year in the preceding years 2020 to 6.45 trillion Yuan roughly equivalent to 997.7 billion US dollars (approx.).
• The rise in growth was again meteoric widening from the 2.4 % growth regi...

ECONOMIC ASSESMENT BY JAPANESE GOVT. FOR DECEMBER REMAINS UNCHANGED

Highlights –

• Economic assessment by Japanese Govt. for December remains unchanged.
• The Cabinet Office reported the Japanese economy to be slowly picking up.
• The latest report upgraded its view on exports and imports.
• For th...

JAPAN’S FINANCE MINISTRY REPORTS CORPORATE PROFITS TO HAVE DECLINED IN JULY-SEPT.

Highlights –

• Japan’s Finance Ministry reports corporate profits to have declined in July-Sept.
• The corporate profits had a double-digit decline in profits.
• The pretax profits of domestic companies fell by 28.4 percent.

WALMART SEES 56.2% RISE IN Q3 PROFITS

Highlights

• Walmart’s net income zoomed 56.2 percent to $5.1 billion as compared to same period last year, following a spike of 5.2 percent in sales to $134.7 billion in the quarter that ended on October 31

• Walmart said its third quarter US e-commerce sales ...

SK HYNIX CONCLUDES ROBUST Q3 GROWTH AMIDST PANDEMIC-LED SLOWDOWN AND PRICE DROP

• SK hynix, colossus memory supplier rounded off the year posting a staggering175 % on-year in its operating profit in the third quarter of this year, despite sluggish market conditions including reductions in prices and the COVID-19 pandemic.
• As per its industry profits results ...

SAMSUNG ELECTRONICS FLOURISHES AMIDST US LED HUAWEI SANCTIONS

• Samsung Electronics did flourishing business third quarter of the year registering largest operating profit in last 2 years.
• The South Korean tech giant said in its primary earnings report that it would register 66 trillion won ($57.01 billion) in revenue and 12.3 trillion won ...

L'Oreal: PROFITABLE AND OPERATIONAL DESPITE COVID-19

Highlights

• According to the company, in the second quarter of FY20 L'Oreal posted revenue of 30 percent 

• L'Oreal is planning to launch several new products in order to get back on the path of growth

• L'Oreal recorded most of its s...

SBI PROFIT QUADRUPLES TO RS 3,581 CRORE IN MARCH QUARTER

Highlights

• In the last year’s March quarter, SBI had reported profit of Rs 838.40 crore

• According to the biggest public sector bank, total 21.8 percent customers of SBI have availed the loan moratorium announced by the RBI

On Friday, results for t...

HKEX PROFIT DROPS 13%, CEO CHARLES LI TO STEP DOWN NEXT YEAR

HIGHLIGHTS

• Hong Kong’s bourse operator’s net profit dropped 13% to HK$2.26 billion.
• Stocks of the company dropped 3.4% after the results.
• Li would step down from his job role as CEO in October 2021, at the end of his current ter...

GOLDMAN SACHS WARNS U.S COMPANIES OF ZERO EARNINGS GROWTH IN 2020

HIGHLIGHTS

• American companies will make no earnings growth in 2020.
• The growth trajectory of the US and worldwide economy is extremely ambiguous at this time.
• A more serious epidemic could lead to an additional lengthy disruption and a US s...

With over-allotment of shares, Saudi Aramco raises to $29.4 billion

On Sunday, the oil company Saudi Aramco stated, that it had decided to sell an additional 450 million shares, increasing the size of its initial public offering (IPO) to a record of $29.4 billion.

In its December IPO, Aramco primarily raised a record level capital of $25.6 billion, by s...