Tata Motors Posts Q1 Loss of $600mn
India's largest automobile manufacturer, Tata Motors Limited (TML), the owner of Jaguar Land Rover (JLR), announced its consolidated 1Q2022 earnings results ending June yesterday with a negative Profit Before Tax (PBT) of INR 25.8bn ($347.3mn). The loss came even as...
Tesla’s Quarterly Profits Hit Record $1.1bn
Tesla reported net income of $1.14bn, compared to $104mn in the same period last year. Net profits surpassed $1bn for the first time. Revenues came in at $10.2bn, of which 3.5%, or $354mn came from sale of regulatory credits, the lowest number of credits than in any...
LMIRT and Ascott Report Results
Lippo Malls Indonesia Retail Trust (LMIRT) reported its Distribution per Unit (DPU) at S$0.09, lowered by 18% YoY in their Q2 release. Overall, distributable income stood at S$4.74mn ($3.5mn) vs. negative $11.3mn ($8.3) sum last year. Gross revenues jumped 81% to...
Adani Ports, Temasek Launch $ Bonds; Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US markets ended the week on another record high. S&P and Nasdaq were both up 1% and markets enter the upcoming week with a Fed Meeting lined up along with high profile earnings reports from Apple, Alphabet, Facebook, Amazon, Microsoft, Tesla and Boeing. Consumer...
The Week That Was
US primary market issuances dropped to $20.9bn vs. $32.4bn in the week prior. IG issuances fell to $15.2bn vs. $24.7bn in the prior week and HY issuances were also lower to $5.4bn vs. $7.3bn in the prior week. The IG space was led by VMware’s $3bn dual-trancher,...
Banks Reconsider Mortgage Halt on Evergrande; Asia Orient Doubles Down on Evergrande Bet
HSBC and Bank of China are rethinking the earlier decision of halting mortgages to Evergrande customers as per sources. This comes after the Hong Kong Monetary Authority (HKMA) asked banks to explain the situation questioning whether staff and homebuyers had been told...
Sri Lanka to Repay July Dollar Bond
The Sri Lankan government is committed to repaying its debt according to Ajith Nivard Cabraal, the state minister for money and capital markets. The minister told Bloomberg in a phone interview that the sovereign will be transferring funds for the maturing $1bn 6.25%...
Goldman and DWS prepare bids for NN Investment Partners for €1.4bn
Insurance and investment management company NN Group (NN) has seen interest from Goldman Sachs Asset Management (GS) and Germany’s DWS, as both are preparing bids for the Dutch insurer’s investment management arm. The deal price is said to be around €1.4bn ($1.6bn)....
Frasers Centerpoint Trust Shopper Traffic Falls
Frasers Centerpoint Trust (FCT) reported stable portfolio occupancy at 96.4% for Q3 FY2021 despite Covid disruptions. The company said shopper traffic fell to around 60% of pre-Covid levels. FCT said that it renewed substantial expiring leases due in FY2021, with only...
