Toyota Motor's net profit rose to $7.15 billion for the fourth quarter of its fiscal year ended March 31. This figure is more than double that of the same period last year. Revenue for the period rose 11% to $70.7 billion. The results for the full fiscal year surpassed both analysts' and the company's forecasts. In May 2020, Toyota Motor predicted that it would sell 8 million cars in 12 months...

Japanese carmaker Mitsubishi Motors' net loss for fiscal year 2020-2021 ended March 31 rose 12 times year-on-year to 312.3 billion yen ($2.9 billion), the company said in its financial statements. The financial year ended with a net loss per share of 209.88 yen ($1.9) against a loss of 17.32 yen ($0.15). The group's revenue fell 1.5 times to 1.455 trillion yen ($13 billion). The company notes...

Japanese carmaker Nissan Motor has reported its results for the fourth quarter and full fiscal year 2020 (ended at the company on 31 March) and also gave a forecast for fiscal 2021. For 2020, the company posted a loss of ¥449 billion ($4.2 billion), which, however, is 33% lower than the loss posted in fiscal 2019. Performance in the fiscal 2020, the company said, was impacted by the COVID-19...

Malaysian state-owned investment fund 1Malaysia Development Berhad (1MDB) has sued German Deutsche Bank, US-based JPMorgan and UK-based Coutts in a court in Kuala Lumpur. This was reported by Reuters, citing court documents. The investment fund accuses the banks of "negligence, breach of contract, conspiracy to defraud and damage and/or aiding and abetting unfair practices". 1MDB is seeking...

Saudi Aramco, the world's largest oil company, posted a net profit of $21.7 billion in the first quarter of 2021, up 30% from the same period last year, the company said in a statement. The result was attributed to improved global economic and oil market conditions, higher margins in refining and petrochemicals, which partially offset production declines, the release said. Cash flow from...

Online broker Robinhood has collected a record $331M in the form of fees from market makers for the flow of orders on equity trades in Q1 2021. This was reported by CNBC, citing data from the US SEC. Of those funds, $133M were received from market makers for stock trading orders; $198M - for options trading orders. This is 3.6 times what the company-owner of the popular online securities trading...

Buffett's holding company's cash stocks have exceeded $145bn, approaching a record. The investor billionaire has become more cautious about spending: Berkshire Hathaway's spending on buying back its own shares has fallen by more than a quarter. Berkshire Hathaway holding company, led by billionaire Warren Buffett, increased its cash reserves by more than 5 percent to $145.4 billion at the end of...

The European Commission found that Apple has abused its dominant position in distributing music streaming apps through the App Store. The agency believes that the company was imposing rules on its app shop to the detriment of competitors. Two years ago, Swedish music streaming service Spotify complained about unequal terms with Apple Music in the App Store. The gist of the complaint was that...

US telecommunications company Verizon Communications is considering the sale of media assets, including parts of Yahoo and AOL. The Wall Street Journal reported, citing sources, that the volume of transactions may amount to between $4bn and $5bn. Thus, Verizon Communications, the largest U.S. mobile operator, may leave the media market, entry to which has been too expensive for it. Verizon...