Shell reports profits of nearly $40 billion and announces $4 billion in buybacks

Shell reports profits of nearly  billion and announces  billion in buybacks

Hong Kong/London CNN — Shell made a record profits of nearly $40 billion by 2022, more than double what it brought in last year after oil and gas prices soared following the Russian invasion of Ukraine. Europe’s largest oil company by revenue reported an adjusted full-year profit of $39.9 billion on Thursday – more than … Read more

Nasdaq 100 futures rise after Meta beat quarterly sales

Nasdaq 100 futures rise after Meta beat quarterly sales

Futures linked to the Nasdaq 100 were higher Wednesday night. Nasdaq 100 futures gained 1.4% helped by Meta stocks. S&P 500 futures rose 0.5%. Futures tied to the Dow Jones Industrial Average fell 45 points, or 0.13%. Meta was up more than 19% in expanded trading after reporting a fourth-quarter revenue increase and announcing a … Read more

Bitcoin bulls need to regain these 2 levels as ‘death cross’ continues to loom

Bitcoin bulls need to regain these 2 levels as ‘death cross’ continues to loom

Bitcoin (BTC) is facing a sink-or-swim resistance test to confirm its “macro breakout,” a new analysis says. In a tweet on Feb. 2, on-chain monitoring resource Material Indicators marked key levels to move into support after BTC/USD spiked above $24,000. Bitcoin price gears up for trendline confrontation In what ended up being a boon for … Read more

Oil giant reports record annual profits

Oil giant reports record annual profits

Shell said last month that windfall taxes imposed by the European Union and the UK following the surge in profits would cost the group about $2 billion. Paul Ellis | Afp | Getty Images British oil giant Shell posted its highest annual profit on Thursday, buoyed by rising fossil fuel prices and strong demand since … Read more

Watch out for tech stocks – these cash-rich names are a better bet: Analysts

Watch out for tech stocks – these cash-rich names are a better bet: Analysts

Forget about growth stocks like technology. Analysts recommend that investors choose companies with a lot of cash. The market rallied in January, including the tech-heavy Nasdaq Composite, which rose nearly 10.7% last month for its best monthly performance since July. But analysts say companies with pricing power are a safer bet than technology, given that … Read more

Biden’s IRA has left Europe blind. And overtaking can lead to 2 big mistakes

Biden’s IRA has left Europe blind.  And overtaking can lead to 2 big mistakes

US President Joe Biden and European Commission President Ursula von der Leyen. Bloomberg | Bloomberg | Getty Images The European Union is working against the clock to build a program to rival President Joe Biden’s unprecedented climate subsidies. But it will run into two major problems in the process. The EU has long been asking … Read more

Adani’s share loss reached $100 billion after the company called off share sales

Adani’s share loss reached 0 billion after the company called off share sales

Losses for Adani Group shares hit $100 billion on Thursday after the conglomerate’s flagship company called off a $2.4 billion share sale, saying it would be “not morally correct” to proceed given the share destruction. All 10 stocks controlled by Adani Group fell in early Mumbai trading. Adani Enterprises, Adani Transmission and Adani Ports increased … Read more

Adani market losses snowball to $100 billion in delayed share sale

Adani market losses snowball to 0 billion in delayed share sale

NEW DELHI, Feb. 2 (Reuters) – Indian shares of the Adani group fell on Thursday after market turmoil forced the conglomerate to scrap a crucial $2.5 billion equity offer, extending market losses to more than $ 100 billion and concerns arose about the possible systemic impact. The pullback of the share sale of Adani Enterprises … Read more

Asia-Pacific markets are rising especially as investors process the Fed’s smaller quarter-point increase

Asia-Pacific markets are rising especially as investors process the Fed’s smaller quarter-point increase

Signs of ‘sequential acceleration’ in Hong Kong despite economic contraction in 2022: UBP Hong Kong’s economy is “in a position to return to expansion” this year, UBP told CNBC’s “Squawk Box Asia” on Thursday. “We’re seeing signs of a sequential acceleration in January. So that’s the good news,” said Carlos Casanova, UBP’s senior economist for … Read more