Bloomberg reports that total profit of US corporations climbed by 35% in 2021, according to data from the US Department of Commerce. Companies' profitability (profit to sales ratio) has exceeded 13 percent for four consecutive quarters, the highest level since 1950. These findings are mostly linked to the economy's recovery following the pandemic and increased consumer demand. Corporate pay...

Swiss company Zurich Insurance dropped the "Z" logo due to possible "misinterpretation". According to the Telegraph newspaper, Zurich Insurance has declined to use its logo featuring a single letter "Z" in social media to avoid "misinterpretation" of the symbol. "In circumstances where the letter 'Z' is shown individually and could be misunderstood, we will temporarily discontinue using it in...

Reaching a new agreement on Iran's nuclear program is "a matter of days," said European Union High Representative for Foreign Affairs and Security Policy Josep Borrell. "We are very close, but there are unresolved issues. I don't know when or how, but it's a matter of days," Borrell said at the Doha Forum international conference in Qatar. Earlier, Enrique Mora, a senior European foreign policy...

India's state-owned Indian Oil Corporation (IOC) on Wednesday bought 3 million barrels of Russian Urals crude and 2 million barrels of West African crude in a tender with delivery in May. This was reported by Deccan Herald citing sources. According to the newspaper, the Urals oil was purchased from the Vitol trader at a discount. This is the second recent purchase of Urals oil by Indian Oil...

Airbus, the aircraft manufacturer, said it is sourcing titanium directly from Russia as well as other countries, Reuters reported. "This is done in accordance with all applicable sanctions and current export control regulations," Airbus told the agency. Earlier, the Wall Street Journal reported that Boeing said it was suspending titanium purchases from Russia. It was reported last week that...

International rating agency Moody's has upgraded the issuer rating of Japanese electronics manufacturer Sony to 'A3' from 'Baa1' with a stable outlook, the agency said in a statement. "The upgrade reflects Sony's success in transforming its portfolio with businesses that have established regular, expected earnings," Moody's vice president Roman Schorr said in the release. The upgrade also...

Credit Suisse has asked investors to destroy documents relating to the yachts and private jets of its wealthy clients, says the FT. Credit Suisse has asked hedge funds and other investors to destroy documents relating to the yachts and private jets of its wealthiest clients to stop leaks about a division of the bank that lent to people who were then sanctioned. The Financial Times reported this,...

Target Corporation, one of the country's top retailers, announced that its revenue for 2021 will hit a new high of $106 billion. According to the firm, the amount has increased by more than 35% in the last two years. Last year's net income was $8.9 billion, up 36% from the previous year. The company attributed its outstanding performance to a rebound in consumer activity following the COVID-19...

BP's stock dropped more than 8% in premarket trading, the biggest loss in three months. In pre-market trading on Monday, February 28, shares of oil and gas company BP were down more than 8%. According to Bloomberg, it's the greatest loss in three months. Later, the company’s shares were trading at $28.7, down 6.61 percent from Friday's closing price. According to Bloomberg, BP was unable to...