Amazon stock falls as least profitable holiday quarter since 2014 leads to its worst annual loss on record Inc. reported its least profitable holiday quarter since 2014 on Thursday, leading to the biggest annual loss on record for the e-commerce giant, which also disappointed Wall Street with its forecast amid concerns about cloud growth. Amazon AMZN, +7.38% reported a holiday profit of $278 million, or 3 cents a share, down from $1.39 … Read more

BT pretax profit falls, but backs annual guidance

BT Group PLC said Thursday that nine-month pretax profit fell due to increased depreciation that offset earnings before interest, taxes, depreciation and amortization growth. The U.K. telecommunications company BT.A, -1.86% said revenue for the period to Dec. 31 was 15.59 billion pounds ($19.29 billion) compared with GBP15.68 billion a year earlier as the BT Sport … Read more

Exxon soars to record annual profit as analyst calls Permian Basin ‘key part’ of growth

Exxon Mobil Corp. reported mixed quarterly results on Tuesday, but Wall Street eyed its production hopes in West Texas’s Permian Basin and liked what it saw. Exxon XOM, +1.66% on Friday reported adjusted per-share earnings of $3.40 for its fourth quarter, ahead of FactSet consensus for $3.29 a share, and revenue of $95.429 billion, below … Read more

Gold in 2022 saw its strongest annual demand in more than a decade, report finds

Annual global gold demand last year reached its highest since 2011, buoyed in part by record demand for the precious metal in the fourth quarter and the strongest gold demand among central banks since 1967, according to a World Gold Council report released Tuesday. Total global demand climbed 18% to 4,740.7 metric tons in 2022, … Read more

FDA panel backs plan for annual COVID-19 booster, as new omicron subvariant continues to dominate in new cases

A Food and Drug Administration advisory panel voted unanimously Thursday for Americans to get a once-a-year booster against COVID-19, with the strain to be decided midyear for a fall campaign, the Associated Press reported.  “This is a consequential meeting to determine if we’ve reached the point in the pandemic that allows for simplifying the use of … Read more

IBM posts biggest annual sales increase in more than a decade, announces layoffs

International Business Machines Corp. increased sales more than 6% in 2022, the biggest sales increase for Big Blue in more than a decade, but its stock fell in extended trading Wednesday. IBM IBM, -0.52% reported fourth-quarter earnings of $2.71 billion, or $3.13 a share, on revenue of $16.7 billion, in line with about $16.7 billion … Read more

FDA backs annual COVID vaccine for Americans with strain to be decided midyear

The Food and Drug Administration is recommending that the U.S. decide each June which SARS-CoV-2 strains should be included in an annual fall booster shot. Doing so would allow updated COVID-19 vaccines to be ready for distribution “no later than September” each year, according to documents published by the regulator. The FDA’s Vaccines and Related … Read more

Ken Griffin’s Citadel made $16 billion last year – the largest annual hedge fund return on record, investor says

Ken Griffin’s U.S. hedge fund Citadel made $16 billion in profit after fees last year – the largest annual gain ever made by a hedge fund manager, an investor has estimated. In a report published on Monday by fund of funds LCH Investments, Citadel topped the top 20 hedge fund manager’s list beating John Paulson’s … Read more

Auto Sales 2022: Renault India Reports 9% Drop In Annual Sales At 87,118 Units

Renault has released its sales data for the 2022 calendar year, and last year the company sold 87,118 vehicles in the Indian market. Compared to 2021, in India, the French carmaker saw a year-on-year decline of 9 per cent in sales, while the company’s market share dropped by 0.7 per cent. India remained the company’s … Read more