Category: Business

Goldman Sachs Group Inc (GS.N) reported a surge in second-quarter profit on Tuesday as Wall Street’s biggest investment bank cashed in on record global dealmaking activity. Net earnings applicable to common shareholders rose to $5.35 billion in the three months ended June 30, from $2.25 billion a year earlier. Earnings per share rose to $15.02 […]

A unit of the Teachers Insurance and Annuity Association of America will pay $97 million in restitution to tens of thousands of customers who were misled into moving their retirement money into higher-fee accounts, regulators said on Tuesday. The U.S. Securities and Exchange Commission and New York Attorney General Letitia James announced the settlement with […]

Joshua Harris, co-founder of private equity firm Apollo Global Management Inc (APO.N), is looking to raise his own fund. Harris, who founded Apollo along with Leon Black and Marc Rowan in 1990, will step down from his day-to-day role at the firm when its merger with annuities provider Athene Holding Ltd (ATH.N) closes next year, […]

Volkswagen (VOWG_p.DE) raised its long-term profitability target on Tuesday in a sign of the German automaker’s growing confidence in managing the shift to electric and self-driving vehicles. Presenting its strategy until 2030, Europe’s largest carmaker also said it expected half of its global vehicle sales to be battery-powered by that date – joining rivals in […]

Packaged foods company Conagra Brands (CAG.N) warned that higher raw material and ingredient costs would take a bigger bite out of its profit this year than previously estimated, in another sign that supply chain hiccups are battering the sector. COVID-19 vaccinations, low interest rates and nearly $6 trillion in government relief since the pandemic started […]

PepsiCo Inc (PEP.O) will increase the prices of its products this year, the company said on Tuesday after it raised its full-year earnings forecast on surging demand for its sodas from pandemic-weary people flocking to restaurants and theaters. A host of factors, including disruptions in global supply chains and rising demand, has pushed up raw-material […]

Citi reduced its overweight position in longer-dated South Africa government bonds and said it established an underweight in the rand, citing expectations that social unrest could continue. Crowds clashed with police and ransacked or burned shopping malls in South Africa with dozens reported killed as grievances unleashed by the jailing of former president Jacob Zuma […]