The BP logo is displayed outside a petrol station near Warminster in Wiltshire, England, on Aug. 15, 2022.Matt Cardy | Getty Images News | Getty ImagesBritish oil major BP on Tuesday posted a sharp drop in fourth-quarter profit, pledging to “fundamentally” reset the embattled energy company’s strategy.The energy firm posted underlying replacement cost profit — used as a proxy for net profit — at $1.169 billion in the fourth quarter, compared with $2.99 billion in the same period of last year and with an analyst forecast of $1.2 billion, according to a LSEG poll.The company’s net debt hit just shy of $23 billion in…
Author: usaeverydaylife
A Gucci store, operated by Kering SA, in the Sanlitun area of Beijing, China, on Saturday, Oct. 12, 2024. Bloomberg | Bloomberg | Getty ImagesFrench luxury goods firm Kering on Tuesday reported better-than-expected fourth-quarter sales that were nevertheless down year-on-year amid lagging demand for its main Gucci label.The high-end fashion group, whose brands also include Bottega Veneta, Balenciaga and Alexander McQueen, posted a 12% decline in fourth-quarter revenues to 4.39 billion euros ($4.52 billion), just slightly ahead of the 4.29 billion euros forecast by LSEG analysts.Full-year sales also dipped 12% to 17.19 billion euros versus an anticipated 17.09 billion euros.This is…
As the war between Israel and the Lebanese militant group Hezbollah intensified last September, Abed Al Kadiri sat glued to the television in the art studio where he was working in Kuwait.Mr. Al Kadiri watched as Beirut, the Lebanese capital and city of his childhood, was ravaged by Israeli bombardments. He was distraught about what members of his family, including his mother and 13-year-old son, along with his friends, were enduring there. He began having nightmares and panic attacks and was unable to sleep.Determined to support his family and help his country rebuild, Mr. Al Kadiri decided to book a…
The Commerzbank AG headquarters, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024.Emanuele Cremaschi | Getty Images News | Getty ImagesItaly’s second-largest lender UniCredit on Tuesday posted a fourth-quarter profit beat, raising shareholder returns amid market focus on the bank’s M&A overtures.Net profit attributable to the group came in at 1.969 billion euros ($2.03 billion) in the fourth quarter, compared with an analyst forecast of 1.803 billion euros, according to a LSEG-compiled consensus.Revenues reached 6 billion euros over the period, versus analyst expectations of 5.898 billion euros.UniCredit has been at the epicenter of Italy’s nascent push for…
Traders work on the floor at the New York Stock Exchange on Feb. 10, 2025.Spencer Platt | Getty ImagesU.S. stock futures traded lower early Tuesday as investors looked toward key inflation reports due later in the week.Dow Jones Industrial Average futures slipped 69 points, or around 0.15%. Futures tied to the S&P 500 and Nasdaq 100 futures fell 0.22% and 0.29%, respectively.During Monday’s main trading session, the Nasdaq Composite gained nearly 1%. Chipmakers such as Nvidia and Micron Technology popped 2.9% and 3.9%, respectively, while Big Tech names such as Alphabet and Microsoft also were positive on the day.President Donald…
Two flights carrying Venezuelan migrants from the United States back to Venezuela will arrive late Monday in the capital, Caracas, the country’s communication’s ministry said.The flights are a major victory for the Trump administration, which made a campaign promise to deport millions of undocumented migrants. To accomplish this goal, President Trump needs Nicolás Maduro, Venezuela’s autocratic president who has found himself increasingly isolated by world leaders, to agree to accept some of those people. Two planes owned by the Venezuelan airline Conviasa left Fort Bliss in Texas, where migrants subject to deportation are being held, at around 10:45 a.m. They…
PORTSMOUTH, UNITED KINGDOM – OCTOBER 28: The container ship Vung Tau Express sails loaded with shipping containers close to the English coast on October 28, 2024 in Portsmouth, England. Matt Cardy | Getty Images News | Getty ImagesTariffs proposed by U.S. President Donald Trump are not simply symbolic, but are punitive and will “cost jobs” in the U.S., according to Frank Lavin, former U.S. ambassador to Singapore.Speaking to CNBC’s “Street Signs Asia,” Lavin said that “we’re in for a bit of bad news in the near term,” adding that the tariffs will also hurt the auto industry in the U.S.”It will…
The Chinese national flag fluttering with the Lujiazui Financial District in the background.Vcg | Visual China Group | Getty ImagesChinese companies are enticing investors with record dividend payouts and share buybacks amid rigorous corporate governance reform, with some market watchers saying more are on the horizon.Last year, Chinese listed firms paid out a record 2.4 trillion yuan ($328 billion) in dividends, according to data from the China Securities Regulatory Commission (CSRC). Additionally, companies bought back 147.6 billion yuan worth of shares — an all-time high.Goldman Sachs estimates that Chinese companies’ cash distribution could hit $3.5 trillion this year to notch…
Chinese electric car giant BYD announced on Feb. 10, 2025, that it would integrate DeepSeek into its artificial intelligence model that powers its new driver-assistance technology.ScreenshotBEIJING — Chinese electric car giant BYD is going all in on driver assistance with the help of DeepSeek, after previously taking a more cautious approach on autonomous driving technology.Advanced smart driving will become a standard safety feature similar to seatbelts and air bags, BYD’s founder and chairman Wang Chuanfu said at a China-focused launch event livestreamed late Monday.The automaker announced that it was releasing a “DiPilot” assisted driving system across its range of cars,…
A view of the city skyline of Lujiazui Shanghai Center in Pudong, Shanghai, China, on March 13, 2024.Cfoto | Future Publishing | Getty ImagesAsia-Pacific markets traded mixed Tuesday as investors assessed U.S. President Donald Trump’s tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia’s S&P/ASX 200 traded around the flatline. South Korea’s Kospi rose 0.72%, while the small-cap Kosdaq climbed 0.35%.Hong Kong’s Hang Seng Index slipped 0.56%, while the mainland China’s CSI 300 dipped 0.36%.Japan markets were closed for a holiday.Singapore’s benchmark Straits Times Index slipped 0.44% after it hit an…
