News 

Credit Agricole fourth-quarter net profits climb despite one-time tax hit

“Fourth-quarter net income rose to 387 million euros ($479 million) from 291 million a year ago, when results were impacted by a goodwill impairment on its French retail operations” writes Credit Agricole for cnbc.com. The bank also took a 384 million euros hit in the fourth quarter due to changes in taxation both in France and, to a lesser extent, in the United States.Credit Agricole, whose results were published on the company’s website, proposed a dividend of 0.63 euros per share versus 0.6 euros a year earlier.France’s Credit Agricole reported…

Read More
News 

Apple CEO leaves investors dangling on future dividend hike

“If the rate on overseas profits had remained unchanged, Cook said Apple and other U.S. companies would have left the money sitting in foreign accounts” reports foxbusiness.com. He said the previous system was unfair because it imposed unreasonably high tax rates on overseas profits after Apple had already paid taxes on the money to foreign governments.The hopes for a large dividend increase and a coinciding commitment to buy back large amounts of Apple stock has helped buoy the company’s shares.Apple’s annual dividend increases have ranged from 8 to 15 percent…

Read More
Markets News Stocks 

Big Profits Drove a Stock Boom. Did the Economy Pay a Price?

“Eggertsson and his colleagues built an alternative model of the American economy by doing away with the assumption of perfect competition” writes Eduardo Porter for nytimes.com. They pad corporate profits and send stock prices sky high.In a more orthodox economy, declining rates on corporate bonds would encourage a surge in corporate investment.In this economy, stock prices don’t just reflect the future stream of normal economic returns that would accrue to a company’s capital investment.They also include a claim to a stream of rents that generate “pure profits.” These profits can’t…

Read More
Crypto News 

Start-up LoopX Disappears, Taking With It $4.5 Million Following ICO

“Once a company with an active online presence, LoopX has entirely disappeared from the internet” reports newsbtc.com. In an ICO, an investor is given a token in exchange for an investment of cash or another cryptocurrency.After raising $4.5 million in a series of initial coin offerings (ICOs), cryptocurrency start-up LoopX has disappeared — along with the cash that investors provided — in what appears to be the most recent exit scam to plague the cryptocurrency community.The founders of LoopX told early backers that their team had been building an investment…

Read More
News 

T-Mobile adds 1.9M customers in Q4, posts $2.7B in profits, boosted by U.S. tax reform

“T-Mobile says it now has 72.6 million total customers, after adding a total of more than 5.6 million customers over the past year” writes Todd Bishop for geekwire.com. The company said changes in tax law resulted in a net tax benefit of $2.18 billion in 2017.The Bellevue-based company added a net total of 1.9 million customers in the fourth quarter, its 19th consecutive quarter with more than 1 million net customer additions.The company posted $2.7 billion in profits in the fourth quarter, up from $390 million a year ago — a…

Read More
News 

SoftBank’s profits soar on sales growth, Sprint improvement

“Technology licensing revenue from Arm, which was not part of SoftBank’s group companies the previous fiscal year, helped boost earnings for the current fiscal year, the company said” reports foxbusiness.com. The Tokyo-based company, which sells the Pepper robot, did not give annual forecasts, citing uncertainties, as is its usual policy.It said Wednesday that it will do a share offering for its Japanese telecommunications company in Japan to raise cash for more investments. Source: foxbusiness.com Share This:

Read More
Markets News 

Redrow reports more record profits despite concerns about the housing market

“The company cheered investors by increasing its interim dividend by 50pc to 9p as it shrugged off wider concerns about the state of the housing market” writes unknown author for telegraph.co.uk. Redrow has reported another set of record results, building more homes in the last six months than ever before and pushing profits up 26pc. He raised concerns about the state of the secondary housing market – the sale of homes that are not new – adding that Redrow relied on people selling up to stimulate the purchase of its…

Read More
News 

Hargreaves Lansdown lures investors from problem-hit Barclays

“Fund supermarket Hargreaves Lansdown has posted a leap in half-year profits after luring customers from problem-hit rival Barclays” writes Adam Marshall for telegraph.co.uk. While it did not name the rival, it is understood to be Barclays’ Stockbroker service, which suffered technical glitches leading to delays in payouts to some investors during the period.The FTSE 100 broker raised its interim dividend to 10.1p from 8.6p, after posting pre-tax profits for the second half of last year up 12pc to £146.9m. Source: telegraph.co.uk Share This:

Read More
News Oil 

BP’s profits surge as it leaves downturn behind

“On an annual basis, BP’s profits soared to $6.2 billion from $2.6 billion in 2016” reports foxbusiness.com. BP’s profits more than doubled in 2017 to $6.2 billion powered by higher prices and output of oil and gas, allowing the company to resume share buybacks as it recovers from a three-year downturn.BP’s refining and trading segment, known as downstream, saw profits rise to $7 billion in 2017 as earnings for the marketing division rose by more than 10 percent.Despite the strong start to oil prices, which reached a three-year high in…

Read More