Profits

    • Pandemic cuts by 8% Q3 global corporate profits

      Pandemic cuts by 8% Q3 global corporate profits

      The spread of the Covid-19 Delta variant will lead global corporate earnings to their first slump in 18 months. The forecast is based on analyst estimates collected by Reuters. The main factors behind the negative trend besides the new Covid-19 outbreaks are the lower supply of raw materials and rising labour costs.

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    • Delta variant pumps shares of vaccine makers

      Delta variant pumps shares of vaccine makers

      The spread of new Covid-19 variants worldwide seemed to be good news for the shareholders of pharmaceutical companies involved in the production of vaccines against the coronavirus. Pfizer announced surging demand for its jabs and growing profits on the back of fast spreading Delta variant, Reuters reported.

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    • Glencore benefits from surging commodity prices

      Glencore benefits from surging commodity prices

      The increasing commodity prices worldwide allowed the mining and trading company Glencore to post record profits. Therefore the company decided to spread some 2.8 billion dollars among shareholders, Reuters reported. "Following Covid-19's severe global impacts in early 2020, the subsequent economic recovery has seen prices of most of our commodities surging to multi-year highs," said Glencore CEO Gary Nagle.

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    • Toyota Q2 profits surge to record $9.15bn

      Toyota Q2 profits surge to record $9.15bn

      The Japanese carmaker Toyota announced robust growth in operating profit for the second quarter of 2021 to a record high level of $9.15 billion. It noted that a major role for the positive result played the spending restructuring and the improved cost management, Reuters reported. Further both Toyota and Honda raised annual profit estimates as pandemic-hit sales rebounded, but the automakers saw no end in sight to the global chip shortage.

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    • Hugo Boss is back to pre-pandemic levels in UK, China

      Hugo Boss is back to pre-pandemic levels in UK, China

      The German fashion house Hugo Boss announced strong rebound in profits as sales in its key markets China and UK recovered to pre-pandemic levels. Boss further noted it expected sales to continue growing in the second half of 2021, Reuters elaborated. "We are well prepared to further drive our business recovery also in the second half of the year," said new Chief Executive Daniel Grieder.

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