profits

Masayoshi Son ‘ashamed’ of focus on profits after SoftBank logs record $23bn loss

Masayoshi Son ‘ashamed’ of focus on profits after SoftBank logs record $23bn loss

Huge losses at SoftBank’s flagship Vision Funds will force the company to begin “dramatic” cost-cutting after plunging technology valuations and a weak yen drove Masayoshi Son’s embattled conglomerate into a record ¥3.1tn ($23bn) quarterly net loss. In a press conference that Son himself described as “depressing”, he admitted that his famously aggressive global investment strategy …

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JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

JP Morgan quant who called summer rebound in stocks says rally could continue even if corporate profits decline

Investors worried about the next pullback for stocks might want to pause and consider this: the decline in equity valuations since the start of the year already has exceeded the average pullback of other recessionary periods since the early 1990s, according to JPMorgan Chase & Co.’s equity quant Marko Kolanovic. While more Wall Street analysts …

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Target chases bigger e-commerce profits with new delivery hubs, fleet of drivers

Target chases bigger e-commerce profits with new delivery hubs, fleet of drivers

MINNEAPOLIS — Each day, hundreds of drivers park at a delivery hub in Target’s hometown and load up the trunks of their personal cars with packages to deliver to customers. Soon, the big-box retailer will have similar centers and gig workers in three more places − two in the Greater Chicago area and one near …

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Tesla profits jump despite production turmoil and China shutdowns

Tesla profits jump despite production turmoil and China shutdowns

Tesla withstood disruptions to production in China and the high costs of scaling up new plants in Texas and Germany to report a 57 per cent jump in adjusted earnings per share in its latest quarter. The electric carmaker’s second-quarter results brought a degree of relief after the company had warned of production and supply …

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Live news updates from July 18: Goldman profits nearly halve, Tugendhat eliminated from Tory leadership race

Live news updates from July 18: Goldman profits nearly halve, Tugendhat eliminated from Tory leadership race

July has become a month for unexpected plebiscites. First there is the mind-boggling: the UK’s ruling Conservative party allowing a vote of confidence in itself on Monday. This “sideshow” as the FT’s parliamentary team labelled it last week, certain to be won by the ruling party, is best seen as an effort to instil unity …

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Massive Wall Street layoffs feared as banking profits tank

Massive Wall Street layoffs feared as banking profits tank

Wall Street spent the past year binging on bankers. Get ready for the Big Puke. Whispers of hiring freezes and even layoffs have begun to circulate at financial firms as soaring interest rates and recession fears have tanked appetites for mergers, IPOs and other big corporate deals, sources told The Post. At an industry luncheon …

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Target shares fall 9% as it expects squeezed profits from aggressive plan to get rid of unwanted inventory

Target shares fall 9% as it expects squeezed profits from aggressive plan to get rid of unwanted inventory

Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. The retailer slashed its profit margin expectations for the fiscal second quarter to account for a wave of goods winding up deeply discounted or on …

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Target shares fall 9% as it expects squeezed profits from aggressive plan to get rid of unwanted inventory

Target shares fall 8% as it expects squeezed profits from aggressive plan to get rid of unwanted inventory

Target warned investors Tuesday that its profits will take a short-term hit, as it marks down unwanted items, cancels orders and takes aggressive steps to get rid of extra inventory. The retailer slashed its profit margin expectations for the fiscal second quarter to account for a wave of goods winding up deeply discounted or on …

Target shares fall 8% as it expects squeezed profits from aggressive plan to get rid of unwanted inventory Read More »