The BP logo is displayed on a petrol tanker delivering fuel at a petrol station in Shepton Mallet on October 20, 2025 in Somerset, England.Anna Barclay | Getty Images News | Getty ImagesBritish oil giant BP on Tuesday reported stronger-than-expected third-quarter profit, citing progress on divestments and its cost-cutting program.The London-listed oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $2.21 billion for July-September period. That beat analyst expectations of $2.03 billion, according to an LSEG-compiled consensus.BP’s third-quarter net profit came in at $2.3 billion last year and $2.35 billion in the…
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TOPSHOT – A Super Mario character is pictured at a Nintendo display ahead of the launch of the company’s Switch 2 console, an electronics store in the city of Nagoya, Aichi prefecture on June 2, 2025.Richard A. Brooks | Afp | Getty ImagesNintendo raised its forecast for sales of the Switch 2 console in its current fiscal year as momentum for its new flagship console grows.The Japanese gaming giant said it now expects to sell 19 million units of the Switch in the fiscal year ending March 2026 versus a previous forecast of 15 million units.Here’s how Nintendo did in…
A small replica of the Charging Bull statue is seen on a street vendor stall outside the New York Stock Exchange on July 11, 2025.Jeenah Moon | ReutersGlobal markets may be due for a reality check after this year’s relentless rally, as Goldman Sachs and Morgan Stanley on Tuesday cautioned investors to brace for a drawdown over the next two years.Equities worldwide have been soaring, hitting record highs this year, driven by AI-linked gains and expectations of rate cuts. Over the past month, key U.S. indexes have scaled new peaks, Japan’s Nikkei 225 and South Korea’s Kospi have hit fresh…
If you don’t have children and don’t plan on having any, many of the “default” settings of personal finance may not apply to you. You may not, for instance, plan on leaving legacy wealth, as many parents do, and you certainly don’t have to worry about paying for a kid’s wedding or college education.But who will take care of you or make decisions on your behalf in the event that you can’t make them for yourself? For many Americans, the default answer is, “my kids.”If something bad happens and you don’t have children who will take care of you, things…
Whether or not markets are getting ahead of themselves over artificial intelligence is a hot topic for investors right now.Last week, billionaire investor Ray Dalio said his personal “bubble indicator” was relatively high, while Federal Reserve Chair Jerome Powell described the AI boom as “different” from the dotcom bubble.For Magnus Grimeland, founder of Singapore-based venture capital firm Antler, it’s clear the market is not overheating. “I definitely don’t think we’re in a bubble,” he told CNBC’s “Beyond the Valley” podcast, listing several reasons.The speed at which AI is being adopted by businesses is notable compared to other tech shifts, Grimeland…
HONG KONG, CHINA – 2025/03/01: In this photo illustration, Artificial intelligence (AI) apps of perplexity, DeepSeek and ChatGPT are seen on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesAs companies pour billions into artificial intelligence, HSBC CEO Georges Elhedery on Tuesday warned of a mismatch between investments and revenues.Speaking at the Global Financial Leaders’ Investment Summit in Hong Kong, Elhedery said the scale of investment poses a conundrum for companies: while the computing power for AI is essential, current revenue profiles may not justify such massive spending.Morgan Stanley in July estimated that over the next five years, global data…
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty ImagesSaudi Aramco on Tuesday posted a 0.9% jump in third-quarter profit on the back of higher production even as oil prices remained under pressure.Here are Aramco’s third-quarter 2025 results compared with LSEG consensus estimates:Adjusted net income: 104.92 billion Saudi riyals ($27.98 billion) vs. 98.47 billion Saudi riyalsRevenue: 418.16 billion vs. 411.26 billion Saudi riyals”We…
As fiscal pressures deepen from aging populations and pandemic-era debt, governments are increasingly tapping into a tempting source of capital: citizens’ retirement savings. Pension fund assets across the Organization for Economic Cooperation and Development have more than tripled since 2003, reaching $63.1 trillion in 2024, according to the Mercer CFA Institute Global Pension Index. That enormous growth has drawn fresh political attention at a time when most countries are battling debt overhangs, making that capital look irresistible. However, the trouble starts when governments interfere and tell funds to invest too much at home, which breaks the delicate balance that fund…
Automaker Stellantis is making $13 billion bet on a U.S. comeback, after a rough 2024 and a $2.7 billion net loss in the first half of 2025.High prices and stale products scuttled what had been a highly successful first few years of the combined company. Stellantis was the product of a merger of French company Peugeot and Italian American company Fiat-Chrysler. Joining forces allowed the automakers to save more than $8 billion through sharing parts and streamlining operations, roughly double what the deal had promised investors.Pandemic-era shortages also allowed Stellantis raise prices on the vehicles it could sell when inventories…
CNBC’s Kate Rogers joins ‘Fast Money’ with an update in Starbucks’ Chinese oper Source link
