Indonesian President Prabowo Subianto has announced the creation of a new state entity under sovereign wealth fund Danantara to oversee commodity exports. Sources tell Bloomberg the move has shocked even some of the president's own officials. (Source: Bloomberg)
Indonesian President Prabowo Subianto has announced the creation of a new state entity under sovereign wealth fund Danantara to oversee commodity exports. Sources tell Bloomberg the move has shocked even some of the president's own officials. (Source: Bloomberg)
Artificial intelligence chipmaker Nvidia's quarterly results once again beat Wall Street expectations, driven by strong demand for its high-end AI chips. ADVERTISEMENT ADVERTISEMENT The company said on Wednesday it reported a net income of $58.32bn (€53.7bn) or $2.39 per share in the February-April period, up from $18.78bn (€17.3bn) or 76 cents per share in the same period a year earlier. Excludin...
Artificial intelligence chipmaker Nvidia's quarterly results once again beat Wall Street expectations, driven by strong demand for its high-end AI chips. ADVERTISEMENT ADVERTISEMENT The company said on Wednesday it reported a net income of $58.32bn (€53.7bn) or $2.39 per share in the February-April period, up from $18.78bn (€17.3bn) or 76 cents per share in the same period a year earlier. Excluding one-time items, Nvidia earned $1.87 per share. Revenue rose 85% to $81.62 bn (€75.1bn) from $44.01 bn (€40.5bn). Analysts, on average, were expecting earnings of $1.75 per share and revenue of $78.91 bn (€72.6bn), according to a poll by FactSet. Nvidia's results have exceeded analyst projections since its high-end chips emerged as key components of AI systems three years ago. “The buildout of AI factories — the largest infrastructure expansion in human history — is accelerating at extraordinary speed,” CEO Jensen Huang said in a statement. Alongside higher profit and revenue, however, Nvidia's operating expenses rose 49% to $7.75bn (€7.1bn). The company is also looking to diversify its customer base, aiming to rely less on large data centre operators as governments and other industries become a bigger source of demand for AI chips, Bloomberg reported. It comes as competition intensifies and major customers develop in-house alternatives. For the current quarter, Nvidia forecast revenue of about $91bn (€83.7bn), while analysts are expecting $87.29bn (€80.3bn). Despite the solid results and outlook, many investors remain cautious about a potential slowdown after a three-year boom that has seen Nvidia’s market value surge from $400 bn (€368bn) at the end of 2022 to $5.4 trn (€5tr) as of Wednesday. Shares of the Santa Clara, California-based company fell slightly in after-hours trading to $222.12 after closing at $223.47 in the regular session. “Time and time again, (Nvidia) obliterates expectations and consensus; it delivered exactly on what people wanted, especially regardin...
PaulMcKinnon/iStock Editorial via Getty Images Canada’s largest banks head into fiscal Q2 2026 earnings facing a more complex macro backdrop than they did just three months ago. The domestic economy is being pulled in opposing directions. Renewed US tariff pressures and slowing labor markets are weighing on growth, while higher oil prices linked to conflict in the Middle East are providing a parti...
PaulMcKinnon/iStock Editorial via Getty Images Canada’s largest banks head into fiscal Q2 2026 earnings facing a more complex macro backdrop than they did just three months ago. The domestic economy is being pulled in opposing directions. Renewed US tariff pressures and slowing labor markets are weighing on growth, while higher oil prices linked to conflict in the Middle East are providing a partial offset for an energy-exporting economy already grappling with sticky inflation and weaker household spending. Bank of Canada has kept its benchmark rate at 2.25% as policymakers weigh the inflationary impact of higher energy prices against softer economic momentum and rising unemployment. Recent central bank commentary has highlighted how tariffs and trade uncertainty are putting Canada’s economy “on a lower path”, even as oil prices offer some support to exports and national income. Against this backdrop, Visible Alpha consensus expectations show Canada’s major banks are still poised to deliver resilient fiscal Q2 2026 results for the April quarter. Strong capital markets activity, steady loan growth and largely stable credit quality are expected to support earnings, even as lower interest rates continue to pressure margins across the sector. Consensus expectations point to healthy year-over-year growth in revenue and earnings across most banks, although profitability metrics such as ROE and NIM are expected to soften sequentially. Among the Big Six, Royal Bank of Canada/RBC ( RY ) is expected to see net income growth of 19% year-on-year to C$5.4 billion, on revenue growth of nearly 10%. ROE, however, is expected to edge lower sequentially to 14.9%. Net interest margin (NIM) is projected to improve modestly quarter-on-quarter to 1.56%, while provisions for credit losses are expected to decline sequentially, signaling stable credit performance. The Toronto-Dominion Bank ( TD ) is expected to report comparatively muted revenue growth of less than 1%, though net income is ...
Key Points These stocks have defensive qualities that can allow them to maintain consistent results through thick and thin. They also have outstanding dividend track records. 10 stocks we like better than Abbott Laboratories › Although broader equities have performed pretty well this year, recession fears are lingering. After all, we are still dealing with macroeconomic problems and rising inflati...
Key Points These stocks have defensive qualities that can allow them to maintain consistent results through thick and thin. They also have outstanding dividend track records. 10 stocks we like better than Abbott Laboratories › Although broader equities have performed pretty well this year, recession fears are lingering. After all, we are still dealing with macroeconomic problems and rising inflation. For those especially worried that the economy will eventually succumb to these headwinds and enter a recession, it helps to buy shares of companies that can perform well even in the most challenging environments. Here are three of them: Abbott Laboratories (NYSE: ABT), Coca-Cola (NYSE: KO), and Walmart (NASDAQ: WMT). Read on to find out why these three stocks are excellent buys if there is a recession on the way. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » 1. Abbott Laboratories There are several reasons Abbott Laboratories is an excellent stock to buy ahead of a recession. First, it has a large portfolio of healthcare products across four categories: Pharmaceuticals, medical devices, nutrition, and diagnostics. Many of the products it offers remain in high demand regardless of economic conditions. For instance, in nutrition, it is a market leader in baby formula, something parents aren't going to want to stop buying, no matter what happens. Within its core medical device business, Abbott Laboratories markets a range of products that help treat serious, sometimes life-threatening conditions. Those, too, should experience resilient demand even during recessions. Second, Abbott Laboratories has several growth drivers that could help it deliver solid financial results for a long time. The company's FreeStyle Libre franchise -- a family of continuous glucose monitoring devices for diabetes patients --...
名古屋亞運9.19開幕 改用郵輪作運動員村 主場館因應賽事加固改造 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】名古屋亞運還有4個月就揭幕，組委會表示籌備進入最後階段。 今屆沒有興建運動員村，改用停泊在碼頭的郵...
名古屋亞運9.19開幕 改用郵輪作運動員村 主場館因應賽事加固改造 To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video 【有線新聞】名古屋亞運還有4個月就揭幕，組委會表示籌備進入最後階段。 今屆沒有興建運動員村，改用停泊在碼頭的郵輪，準備好容納大約4,000名參賽者及工作人員。作為開幕、閉幕及田徑比賽場地，建於1941年的瑞穗公園陸上競技場4月完成重建並重新開放，因應亞運進行臨時加固及額外改造，9月19日開幕。 來自45個國家和地區，約15,000名運動員角逐43個大項，組委會表示現時重點是協調相關組織，規劃好各項目及場館的實際運作。
07.43 BST Introduction: Nvidia hits record quarter on AI chip boom Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. A fresh wave of AI optimism has lifted the stock market after chip designer Nvidia reported another set of record-breaking earnings last night. The company, which designs chips critical for AI tech, reported an 85% year-on-ye...
07.43 BST Introduction: Nvidia hits record quarter on AI chip boom Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy. A fresh wave of AI optimism has lifted the stock market after chip designer Nvidia reported another set of record-breaking earnings last night. The company, which designs chips critical for AI tech, reported an 85% year-on-year rise in revenue to $81.6bn in the three months ended in April, marking the 15th consecutive quarter of beating Wall Street estimates. Nvidia forecast $91bn in sales for its current quarter, well above average investor expectations of $86bn, but short of the highest estimates. Its shares are down 1% in after hours trading, reflecting some worries among investors about how long the company can keep up its incredible growth trajectory. Still, the revenue beat has lifted the mood in Asian stock markets: the South Korean Kospi has staged a dramatic 9% rise, while Taiwanese shares have risen by 3.3%, snapping a four-day losing streak. LG Electronics and Hyundai Mobis both rose by more than 20% after Nvidia boss Jensen Huang said that physical AI and robotics was the “second category” for major growth. Elsewhere this morning, Wes Streeting, the former health secretary, has called for a “wealth tax that works”. Speaking to the BBC, he proposed equalising capital gains tax with income tax, which he said could £12bn a year. Streeting suggested that CGT rates should mirror the three bands of income tax of 20%, 40% and 45%, according to the BBC. He told the broadcaster’s Political Thinking podcast that loopholes should also be closed that allow people to disguise income from work as capital gains, and that lower rates of capital gains tax could be offered to entrepreneurs who are building companies. His comments come after his resignation as health secretary last week, after several Labour MPs urged prime minister Keir Starmer to step down. The agenda 9am BST: Eurozone flash PMI 9.3...