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Emirates NBD Reports 18% Jump Quarterly Net Profits
Dubai banking major Emirates NBD, reported net profits of AED 2.7bn ($735mn), an 18% jump YoY and its highest quarterly figure since 2019. Total income stood at AED 6.4bn ($1.7bn), up 3% YoY with international operations contributing 37% of it - this was thanks to the...
Creditors Reject Future Group Slump Sale to Reliance Retail; Dollar Bonds Collapse
Future Retail's dollar bonds collapsed by over 50% after Future Group lenders rejected a proposal regarding the sale of its wholesale, retail, and logistics assets to Reliance Retail Ventures Ltd. (RRVL). As per Mint, the rejection happened after the deal value was...
SoftBank Plans on Retaining Arm Ltd Controlling Stake post-IPO: Sources
SoftBank Group is expected to retain a controlling stake in Arm Ltd. after the planned IPO of the latter, as per sources. The sources mention that SoftBank decided that selling a smaller portion of Arm Ltd. now would be preferable, given the current slump in chip...
AT&T Reports Earnings
US-based telecommunications giant AT&T posted a 2.5% YoY revenue increase for its core phone and internet business thanks to wireless and broadband revenue growth expansion in fiber internet and 5G services. During Q1, the company added 289k fiber internet...
Keppel Corp Reports Strong Results
Keppel Corporation released a voluntary business update where it said that it saw a higher net profit YoY with increased contributions from all segments except Urban Development. The update comes on the back of a delay in announcing the merger of Keppel Offshore &...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
The S&P and Nasdaq closed lower, down 0.1% and 1.2% respectively. Consumer Discretionary, Real Estate, Healthcare and Consumer Staples led the gainers, up over 1.5% each while losses were led by Communication Services, down 4.1%. US 10Y Treasury yields eased 7bp...
Credit Suisse Warns of Q1 Loss on Legal Provisions
Credit Suisse Group expects to post a Q1 2022 loss on rising legal provisions, hit from the Russia-Ukraine war, and the slowdown in capital market deals/business activity. The results are due on April 27. In March, a Bermuda court ruled in favor of Georgia's former...
United Airlines Forecasts Q2 Profit and Record Revenues
United Airlines (UAL) announced that it expects to return to profitability in Q2 2022 on a strong operating revenue outlook, including total revenue per available seat mile (TRASM) of approximately 17% over 2019, the strongest Q2 revenue guidance in the company’s...
Tesla Posts Record Profits and Margins
Tesla reported record Q1 2022 results. Adjusted net income stood at $3.7bn, over 3x YoY and 30% higher than the previous record of $2.9bn it posted in Q4 2021. Tesla also reported record automotive gross margins of 32.9% vs. 26.5% during the same period last year and...
