Barrick profit jumps on higher prices, trims gold 2020 output
Miner Barrick Gold Corp reported a nearly 55% rise in quarterly adjusted profit on Wednesday, benefiting from a surge in gold prices, but trimmed production outlook for the precious metal over a mining lease issue in Papua New Guinea.
World shares subdued amid weak data; oil resumes gains
Global shares struggled on Wednesday as weak economic data, doubts about the easing of coronavirus lockdowns and simmering U.S.-China tensions cast a pall over markets.
GM tops estimates despite coronavirus, sets North American restart
General Motors Co on Wednesday reported a huge plunge in first-quarter profit that raced past expectations, and the automaker outlined plans for a May 18 restart of most of its North American plants shut down by the coronavirus pandemic.
Futures rise on optimism around easing of lockdowns
U.S. stock index futures rose on Wednesday as investors turned hopeful of a pickup in business activity with several countries and U.S. states relaxing coronavirus-induced curbs.
Qatar Airways expects to re-open routes this month
Qatar Airways said on Wednesday it would this month start to rebuild its network, in anticipation countries will ease air travel restrictions and based on monitoring of passenger trends.
New York Times warns of ad sales drop after upbeat first-quarter results
The New York Times Co warned of a steep fall in advertising sales in the current quarter after beating Wall Street’s profit and revenue estimates on Wednesday, as it added more subscribers in a period dominated by heavy news coverage around the COVID-…
Barrick adjusted profit jumps on higher prices, trims gold 2020 output
Canadian miner Barrick Gold Corp reported a nearly 55% rise in quarterly adjusted profit on Wednesday, benefiting from a surge in gold prices fueled by concerns over global economic growth.
KKR’s first-quarter profit rises 11% on stronger asset sales
Private equity firm KKR & Co Inc reported an 11% jump in after-tax distributable earnings in the first quarter on Wednesday, driven by growth in asset sales and management fees ahead of the coronavirus-linked market turmoil.
CVS Health first-quarter profit beats on COVID-19 stockpiling
CVS Health Corp on Wednesday posted first-quarter profit above Wall Street estimates, as its pharmacy benefits management business and its drugstores benefited from customers stockpiling medicines due to COVID-19 lockdowns.
E-cigarette maker Juul Labs to exit South Korea after year of health controversies
U.S. e-cigarette maker Juul Labs said on Wednesday it would end operations in South Korea, a year after it entered the market there but failed to gain traction amid government health warnings.
