Companies & CEOs
Alphabet's profit rises to $73.8B - 01/31/2024
The US holding corporation Alphabet Inc., which controls Google, announced in a release that its net profit for 2023 climbed by 23% year over year to $73.795 billion. For the period, diluted earnings per Class A, B, and C share were $5.8, up from $4.56 in the prior year. The company's revenue grew by 8.6% to $307.394 billion in the previous year. Alphabet's fourth-quarter net income rose by 1.5...
Tesla plans over $10B in capital expenditures for 2024 - 01/30/2024
The American electric vehicle manufacturer Tesla Inc. stated in its annual report that its capital expenditures would surpass $10 billion in 2024 and fall within the range of $8 billion to $10 billion over the following two years. The amount increased from $7.16 billion in 2022 to $8.9 billion in 2023. Tesla stated in a filing submitted to the U.S. Securities and Exchange Commission (SEC), "We...
Eni agrees to supply Ryanair in Italy with 100 thousand tons of biofuel - 01/30/2024
Ryanair, the biggest budget airline in Europe, and Enilive, a division of Eni, have inked agreements of intent to deliver SAF clean-burning biofuel between 2025 and 2030 to many Italian airports that the Irish airline serves. The goal is to sell 100,000 tons (33 million gallons) of fuel during those years, which is the same as 20,000 flights from Milan-Malpensa Airport to Dublin, according to a...
Skydance movie studio plans to buy all shares of Paramount - 01/26/2024
The American media business Skydance is thinking about purchasing all of its larger rival Paramount Global's shares in order to delist them later, reports CNBC citing sources. The sources state that the corporations have not started the due diligence process, despite exchanging preliminary information. The Wall Street Journal reported in mid-January, citing sources, that Skydance and its...
Nokia unexpectedly ends Q4 with a net loss - 01/25/2024
Nokia Corp., the Finnish manufacturer of telecom equipment, saw a 23% decline in revenue in the fourth quarter of 2023 and an unanticipated loss at the end of the quarter. In contrast to its €3.152 billion profit the previous year, Nokia reported a net loss of €33 million from October to December. Comparatively speaking, it reported a profit of €568 million as opposed to €929 million in the...
ADNOC to increase investment in decarbonization projects to $23B - 01/23/2024
The state-owned energy firm of the United Arab Emirates, Abu Dhabi National Oil Co. (ADNOC), plans to raise its investment in decarbonization projects by over 50%. The company announced in a statement that the board of directors has increased the budget for these activities to $23 billion. ADNOC has previously stated that by the end of 2030, it intends to invest $15 billion in low-carbon...
BofA names companies that provide top returns for S&P 500 participants - 01/23/2024
According to analysts at Bank of America, the "Magnificent Seven" technology companies—American Apple Inc., Microsoft Corp., Meta, Amazon.com Inc., Alphabet Inc., and Nvidia Corp.—as well as Tesla, comprise the majority of the growth in profits of Standard & Poor's 500 companies in the fourth quarter of 2023. The bank forecasts that last quarter's profits of index components decreased in the...
Tata Steel to shut down last blast furnaces at plant in British Wales - 01/22/2024
The final two blast furnaces at the Indian steelmaker's Port Talbot facility in South Wales will be shut down. The corporation has issued a press release stating that up to 2.8 thousand people will be let go, with 2.5 thousand of those lost over the course of the following 18 months. Tata Steel intends to transition to more ecologically friendly methods of producing steel, which includes...
Group of 27 investors urges Shell to set tougher climate targets - 01/18/2024
A group of 27 Shell shareholders pressured the oil and gas company at its annual general meeting to raise the bar on its emissions reduction commitments, writes the Financial Times. The investors are pressuring Shell to align its medium-term greenhouse gas reduction plans with the Paris Climate Agreement, with coordination from the climate group Follow This. Shell contends that the...
Berkshire Hathaway builds stakes in Japan's top 5 trading companies - 01/17/2024
Sumitomo CEO Masayuki Hyodo told Barron's on the fringes of the Davos conference that billionaire Warren Buffett's investment firm Berkshire Hathaway is still adding to its holdings in five of Japan's biggest trading companies: Mitsubishi, Mitsui, Itochu, Marubeni, and Sumitomo. In August 2020, Berkshire's average ownership in each of the five companies was five percent; by June 2023, that figure...
