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profit

Chinese ride-hailing giant Didi reports record transaction value for June quarter

by Anas Siddiqui
Chinese ride-hailing giant Didi reports record transaction value for June quarter

Chinese ride-hailing giant Didi Global on Wednesday said that both order volume and transaction value reached record highs during the three months through June. Orders in both China and overseas …

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Tata Motors news: Tata Motors shines in Q4, anticipates debt-free status; JLR posts record profit

by Horatio Thompson
Tata Motors news: Tata Motors shines in Q4, anticipates debt-free status; JLR posts record profit

Tata Motors, India’s largest automaker by revenue, trumped Street expectations with amore than threefold surge in net profit in the March quarter propelled by strong performances across its three business …

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HSBC first-quarter profit beats estimates thanks to sale of Canadian business

by Anas Siddiqui
HSBC first-quarter profit beats estimates thanks to sale of Canadian business

HSBC, the biggest of Hong Kong’s three currency-issuing banks, surpassed first-quarter profit estimates thanks to a one-off gain from the sale of its Canadian business. Net profit slipped 1 per …

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Goldman Sachs says escalating price war in China’s EV market could ensnare BYD, push sector into losses

by Anas Siddiqui
Goldman Sachs says escalating price war in China’s EV market could ensnare BYD, push sector into losses

Further discounts offered by carmakers in a price war in mainland China’s electric vehicle (EV) market could ensnare even the likes of top seller BYD, Goldman Sachs said. Its net …

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Hong Kong stock exchange operator HKEX sees profit slip 13% as lower turnover, fewer listings weigh

by Anas Siddiqui
Hong Kong stock exchange operator HKEX sees profit slip 13% as lower turnover, fewer listings weigh

“HKEX demonstrated its strength and resilience in the first quarter of the year,” Bonnie Chan Yiting, its newly appointed CEO, said in a statement issued during the noon trading break …

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PG&E CEO, other execs with utility titan, land higher compensation

by Vera Ward
PG&E CEO, other execs with utility titan, land higher compensation

OAKLAND — PG&E handed out higher executive compensation for the utility leviathan’s top boss and other key execs in 2023, pay increases that arrive at a time of soaring monthly …

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BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

by Anas Siddiqui
BYD chairman Wang Chuanfu expects sales growth to slow in 2024, banks on export surge to shore up profitability

BYD, the world’s largest electric-vehicle (EV) maker, is targeting a 20 per cent increase in sales this year, just a third of last year’s tally, as overcapacity concerns and a …

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PG&E profits hop higher as revenue from electricity and gas surges

by Vera Ward
PG&E profits hop higher as revenue from electricity and gas surges

OAKLAND — PG&E’s profits hopped higher in 2023, buoyed by electricity and natural gas revenues that surged last year, in a report that also predicted the utility titan’s investors can …

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Bank of East Asia cut its exposure to China’s troubled commercial property sector last year

by Anas Siddiqui
Bank of East Asia cut its exposure to China’s troubled commercial property sector last year

The bank’s debt in the country’s commercial real estate sector has come down to 7.7 per cent of total lending, just over half what it was two years ago, and …

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HSBC completes latest round of US$7 billion stock buy-back as market awaits report on bumper 2023 profits

by Anas Siddiqui
HSBC completes latest round of US billion stock buy-back as market awaits report on bumper 2023 profits

HSBC Holdings, the biggest commercial bank in Hong Kong, has completed a third round of buy-back to defend the stock amid a broader market sell-off, taking the cumulative purchases to …

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