Month: November 2020
Corporate profits

Corporate profits hit a record $ 495 billion in the third quarter as the economy reopens

U.S. corporate profits hit a record $ 495.3 billion, or an annualized rate of 27.1%, in the third quarter, as consumer demand rebounded and businesses reopened, the reports showed. Commerce Department data released Wednesday. The increase comes after declines of 12% and 10.3% respectively in the first and second quarters. The sharp rebound in profits […]
Annual profits

Tiger Brands cuts 400 jobs as annual profits plummet

Tiger Brands has cut hundreds of jobs across South Africa’s food sector as annual profits tumbled amid a coronavirus-related drop in consumer spending. The publicly listed owner of brands such as Albany Bakery and Cresta Rice released its annual results for the period to September 30 on Friday (November 20th), posting net profits of ZAR […]
Annual profits

Tyson Foods Beats Estimates with Strong Quarterly and Yearly Profits

Tyson Foods beat expectations amid the lingering challenges of COVID-19, posting strong fourth quarter earnings per share of $ 1.81 on an adjusted basis, compared to the $ 1.18 Wall Street predicted. Revenue topped $ 10.641 billion, below the $ 10.8 billion forecast by analysts. Profits increased by 50% compared to the same period last […]
Foreign investments

Budget 2021: Government sets out measures to attract foreign investment to Malaysia

KUALA LUMPUR (November 6): As part of its efforts to attract foreign investment to Malaysia, the government announced that one billion ringgit will be provided as a special incentive for high value-added technology investments in Malaysia. Finance Minister Tengku Datuk Seri Zafrul Aziz announced that the fund aims to support investments in research and development […]