Zara Owner Inditex Reports Surge in Annual Profit As Sales Hit Record High
Zara-owner Inditex (BME:ITX) posted a 29% jump in annual profit despite a slowdown in top-line returns in the final quarter, thanks to "historic" growth in sales both in its physical stores and online. The Spanish fast fashion retailer, now helmed by chair Marta Ortega,...
Oil Prices Dip, But Eye Positive Week On Chinese Demand Bets
Oil prices fell slightly on Friday as traders weighed the prospect of more economic headwinds from rising interest rates, although renewed optimism over a rebound in Chinese demand put prices on course for strong weekly gains. Crude markets logged wild swings in recent sessions...
Major Fire Hits Chilean Port, Codelco Operations Unaffected
A major fire broke out at Chile's Ventanas port near a refinery and smelter belonging to state-run miner Codelco, but the company said on Thursday operations have not been affected. Meanwhile, a separate forest fire south of Ventanas near the coastal tourist city of...
VW Pledges to Double Down On EVs in China, Urges Extension of NEV Tax Breaks
A senior Volkswagen AG (OTC:VWAGY) China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand. VW plans to increase the number of charging posts...
Credit Suisse Faces Anger At Final Shareholder Meeting
Credit Suisse will face shareholder anger on Tuesday at what will be its final annual general meeting after the bank was rescued last month by Swiss rival UBS. The hastily-arranged takeover by Zurich-based UBS, for which Switzerland invoked emergency legislation, bypassed Credit Suisse shareholders,...
Australia’s Ingo Care gets Higher $1.3 Billion Offer From TPG, Shares Jump
Australia’s InvoCare Ltd shares jumped nearly 12% on Monday after it revealed a higher A$1.86 billion ($1.26 billion) offer from global private equity firm TPG had been tabled just weeks after it rejected a lower bid it said undervalued the funeral services provider. Shares...
How to Set Financial Goals for Your Future
Setting short-term financial goals, as well as midterm and long-term, is an important step toward becoming financially secure. If you aren’t working toward anything specific, you’re likely to spend more than you should. You’ll then come up short when you need money for unexpected...
Adidas Quarterly Sales Beat Expectations Despite Yeezy Crisis
Adidas said on Friday its first-quarter numbers came in better than expected, although sales dipped 1% from a year-ago period, as investors hope for the German sportswear giant to turn its fortunes around. Adidas (OTC:ADDYY), which last year ended a lucrative partnership with Ye,...
Aviva Hits Seven-Month High On New Buyback, Raised Dividend Outlook
The U.K. asset manager and insurer said it is confident of its ability to continue generating surplus cash and expects to pay out around £915M (£1 = $1.1848) this year and will aim for "low to mid-single-digit growth" in the dividend thereafter. "We are...
Asian Stocks Hit By Tech Rout, More Fed Cues Awaited
Most Asian stock markets sank on Wednesday tracking overnight losses on Wall Street, with technology-heavy indexes losing the most as caution kicked in ahead of the minutes of the Federal Reserve’s February meeting. Japan’s Nikkei 225, the Taiwan Weighted index, and South Korea’s KOSPI...