Shell reports $6.2 bln third-quarter profit, boosts buybacks

The logo of British multinational oil and gas company Shell is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photoon Thursday reported third-quarter earnings of $6.2 billion, in line with expectations, on higher refining margins and strong liquefied natural gas (LNG) trading. The company announced … Read more

Shell Earnings Rose on Higher Energy Prices; Launches $3.5 Bln Buyback

Shell’s third-quarter earnings rose on higher refining margins, oil prices and gas and oil sales, while it launched a $3.5 billion share buyback program. The energy giant on Thursday reported adjusted earnings of $6.22 billion for the quarter, up from $5.07 billion in the preceding quarter, but a slight miss to market expectations of $6.25 … Read more

Origin Energy shareholder rejects fresh Brookfield $10.5 bln bid, shares fall

Miniatures of windmill, solar panel and electric pole are seen in front of Brookfield Renewable logo in this illustration taken January 17, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoBrookfield bid was final in absence of a rival offer AustralianSuper said in a statement the consortium’s A$9.53 per share offer, an 8% increase over the previous A$8.81 apiece bid, … Read more

Disney’s ESPN could be valued at $24 bln, likely buyers include Apple, Verizon

In a bid to lure an outside investor, the media giant last month disclosed the financials of ESPN that revealed declining sales and profit at the network considered to be the crown jewel of its traditional TV business. CEO Bob Iger has said Disney wants to keep ESPN and will try to create a streaming … Read more

‍Orsted hit by up to $5.6 bln impairment on halted US projects

A view of the turbines at Orsted’s offshore wind farm near Nysted, Denmark, September 4, 2023. REUTERS/Tom Little/File Photoon Wednesday halted the development of two U.S. offshore wind projects and said related impairments had surged, as the industry grapples with supply chain delays and higher costs. On Wednesday, the Danish company raised that number to … Read more

Jury hits National Association of Realtors, real estate companies with $1.8 bln in damages

Townhomes line a street in Fairfax, on the morning the National Association of Realtors issues its Pending Home Sales for February report, in Virginia March 27, 2014. REUTERS/Larry Downing /File Photo Oct 31 (Reuters) – A U.S. jury on Tuesday said the National Association of Realtors and several real estate companies, including units of Warren … Read more

Stellantis 3Q Revenue, Shipments Rise But Strike Cost $3.18 Bln in Sales — Update

Stellantis’s third-quarter revenue and vehicle shipments rose but said that lost production from the strike in the U.S. translated to a significant sales hit. The Netherlands-based maker of Jeep, Dodge and a dozen other brands said on Tuesday that revenue reached 45.10 billion euros ($47.88 billion) compared with EUR42.10 billion in the third quarter of … Read more

BP reports Q3 profits of $3.3 bln, missing forecast on weak gas

A man runs past a BP (British Petroleum) EV (Electric Vehicle) charge point in London, Britain, January 30, 2021. Picture taken January 30, 2021. REUTERS/Toby Melvilleon Tuesday reported third-quarter earnings of $3.3 billion, missing analysts’ forecasts, as strong oil trading and refining margins were offset by weak gas results. The British company maintained its dividend … Read more

Merck KGaA Enters Partnership With China’s Hengrui for Up to $1.5 Bln

Germany’s Merck KGaA has entered into a partnership to license a cancer drug developed by China’s Jiangsu Hengrui Pharmaceuticals for up to 1.4 billion euros ($1.48 billion). Merck said Monday that the collaboration with Hengrui gives it an exclusive license outside of China to develop, manufacture and commercialize Hengrui’s drug candidate HRS-1167 as well as … Read more

HSBC Q3 profit misses estimates, to buy back $3 bln of shares

A man walks past a logo of HSBC at its headquarters in Kuala Lumpur, Malaysia August 6, 2019. Picture taken August 6, 2019. REUTERS/Lim Huey Teng/File Photoreported on Monday a 240% increase in third-quarter pre-tax profit as higher interest rates boosted the bank’s profitability and helped it fund a fresh $3 billion share buyback. Europe’s … Read more