Shell’s profit in 2022 has more than doubled to a record $40 billion

Shell’s profit in 2022 has more than doubled to a record  billion

Q4 earnings of $10 billion beat estimates Shell buys back $4 billion worth of shares LNG trading key driver of profit in Q4 LONDON, Feb. 2 (Reuters) – Shell (SHEL.L) posted record profits of $40 billion in 2022, the energy giant said on Thursday. shareholders unprecedented returns. The British company’s record profit, which more than … Read more

Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

Honda is starting production of a new hydrogen fuel cell system, co-developed with GM

TOKYO, Feb. 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it will begin production this year of a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) and sell will gradually ramp up this decade, in an effort to expand its hydrogen business. Honda is targeting annual sales of about 2,000 … Read more

Hindenburg bet against India’s Adani puzzles against US short sellers

Hindenburg bet against India’s Adani puzzles against US short sellers

Feb.1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued by the actual mechanisms of the trade, as Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. The allegations, which the Indian … Read more

Adani waives $2.5 billion share sale as major blow to Indian tycoon

Adani waives .5 billion share sale as major blow to Indian tycoon

NEW DELHI, Feb. 1 (Reuters) – Flagship Gautam Adani called off its $2.5 billion share sale on Wednesday in a dramatic turnaround as a defeat sparked by the criticism of a US short-seller saw billions more of its value of the Indian magnate’s shares wiped out. The withdrawal of the Adani Enterprises (ADEL.NS) share offering … Read more

British teachers and civil servants join mass strike on ‘Walkout Wednesday’

British teachers and civil servants join mass strike on ‘Walkout Wednesday’

Up to 500,000 people are expected to take part in the British strikes The government says large wage increases will fuel inflation Schools are closed, most trains are not running More strikes involving health workers will follow next week LONDON, Feb. 1 (Reuters) – Up to half a million British teachers, civil servants and machinists … Read more

India increases spending in final pre-election budget

India increases spending in final pre-election budget

NEW DELHI, Feb. 1 (Reuters) – The Indian government on Wednesday announced a budget of $550 billion for the next fiscal year starting April 1, setting out a plan for record investment while limiting the budget deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national election in … Read more

Gautam Adani is no longer Asia’s richest person as share price plunge deepens to $74 billion

Gautam Adani is no longer Asia’s richest person as share price plunge deepens to  billion

BENGALURU, Feb. 1 (Reuters) – India’s Gautam Adani lost his title of Asia’s richest person on Wednesday as a loss in his conglomerate’s shares deepened to $74 billion following a short-seller report. A report from Hindenburg Research last week alleged misuse of offshore tax havens and signaled concerns about high debt and the valuations of … Read more

Exxon crushes Western oil company profits by $56 billion by 2022

Exxon crushes Western oil company profits by  billion by 2022

HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a net profit of $56 billion for 2022, the company said Tuesday, taking home about $6.3 million an hour last year and not just a company record but also a historic high point for the Western oil industry. Oil companies are expected to break their … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that it had received requests from the US Department of Justice for documents related to its Full Self-Driving and Autopilot driver assistance systems as regulations tighten. Reuters reported in October that Tesla is under criminal investigation over claims that the company’s electric vehicles could … Read more

France hit by new wave of strikes against Macron’s pension reform

France hit by new wave of strikes against Macron’s pension reform

The reform would raise the retirement age to 64 Schools, transportation networks, refinery supplies are affected Macron: Reform vital to ensure the viability of the pension system SAINT-NAZAIRE, France, Jan. 31 (Reuters) – Striking workers disrupted deliveries to French refineries, public transport and schools on Tuesday during a second day of nationwide protests over President … Read more