Yum Brands Inc, the parent company of Taco Bell, exceeded the expectations of analysts at Wall Street for its quarterly revenue and earnings, driven by robust demand for its fried chicken and tacos offset a sales slowdown at its Pizza… Read More ›
Day: October 29, 2021
Best Quarterly Results Since 2017 Posted By Exxon; Will Resume Share Buybacks
Exxon Mobil announced on Friday that it will resume a share repurchase program next year, citing stronger earnings prospects following quarterly results that exceeded analysts’ expectations. The world’s largest oil producer reported an adjusted profit of $1.58 per share, topping… Read More ›
Apple Dislodged By Microsoft As The World’s Most Valuable Company
Microsoft Corp has dislodged Apple Inc as the most valuable publicly listed company in the world on Friday, because of the continued drop in the share price of the iPhone maker. The lingering global supply chain problems resulted in… Read More ›
CD&R’s $10 Bln Acquisition Of Morrisons To Be Probed By UK Watchdog
The British supermarket chain Morrisons has to be managed as a separate company while its 7 billion pounds ($9.7 billion) merger deal with Clayton, Dubilier & Rice’s (CD&R) is being reviewed by Britain’s competition regulator, according to the watchdog. CD&R… Read More ›
70% Of Global Population Should Be Vaccinated By Mid-2022, Says G20
Finance and health ministers from the world’s 20 largest economies (G20) said on Friday that they will make efforts to guarantee that 70% of the world’s population is vaccinated against Covid-19 by the middle of 2022 and that a task… Read More ›
Taliban fighting losing battle to keep Afghanistan’s economy running
With Afghanistan facing a severe cash crunch, migration crisis and mass starvation, the Taliban government is pressing for the release of billions of dollars from its central bank reserves. Afghanistan has parked billions of dollars in assets overseas with central… Read More ›
SK Hynix to acquire Key Foundry for $492.41M
In a statement on Friday, SK Hynix Inc, the world’s second-largest memory chip said, it will acquire South Korea-based Key Foundry for $492.41 million (576 billion won). Key Foundry’s 8-inch wafer foundry manufactures chips for power management, display driver and… Read More ›
Ford to suspend production at Mexico plant due to material shortages
In a statement, Ford Motor Co said, it will suspend production at its Hermosillo plant in northern Mexico from November 1 to November 5 because of material shortages.
Commonwealth Bank of Australia pleads guilty to 30 criminal charges
On Friday, in a statement the Australian Securities and Investments Commission (ASIC) said, the Commonwealth Bank of Australia, the country’s largest lender has pleaded guilty to 30 criminal charges for mis-selling consumer credit insurance between 2011 and 2015. The scrutiny… Read More ›
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