Outlook for Microsoft’s cloud business slightly behind expectations

Jan 24 (Reuters) – Microsoft Corp (MSFT.O) expects cloud revenue for the current quarter to be just below Wall Street expectations, dampening some enthusiasm for its pace of quarterly profit growth earlier on Tuesday. The shares initially rose sharply in after-hours trading, but lost steam after the company’s cloudy forecast. Microsoft said its smart cloud … Read more

Goldman misses earnings estimates as deals slump and consumer business hits

Jan 17 (Reuters) – Goldman Sachs Group Inc (GS.N) reported a bigger-than-expected 69% drop in fourth-quarter profit on Tuesday as it battled a drop in deals, lower revenue from the asset and wealth management and recognized losses in its consumer business. Wall Street banks are making drastic staff cuts and streamlining operations as trading activity, … Read more

Exclusive: ChatGPT owner OpenAI predicts $1 billion in revenue by 2024

Dec 15 (Reuters) – ChatGPT, the new talk-about chatbot in Silicon Valley, can spit haikus, crack jokes in Italian and could soon be the bane of teachers around the world facing fake essays generated by the AI-powered technology. But one question he can’t fully answer is: how will OpenAI make money? The research body, co-founded … Read more

Richemont stock soars as jewelry sector sparkles

The jewelry sector sees its sales increase by 24% Profit from continuing operations increases by 40% President cautious on cost of living and rising interest rates ZURICH, Nov 11 (Reuters) – Shares of luxury goods group Richemont (CFR.S) soared as much as 21% in early trading on Friday after the owner of Cartier posted strong … Read more

Nissan suffers a loss of 687 million dollars by selling its Russian activities for 1 euro

Sale to the Russian public entity NAMI Nissan has the right to buy back business within six years Renault sees its H2 net profit hit by 331 million euros following its move TOKYO, Oct 11 (Reuters) – Nissan Motor Co Ltd (7201.T) will sell its Russia business to a state-owned entity for 1 euro ($0.97), … Read more

Britain’s ASOS to review business model after profit slump

2021-22 profit drops 89% Expects first-half loss in 2022-23 Uncertainty means there are no full-year earnings forecasts Agrees to a new deal with lenders Stocks rebound 9% LONDON, Oct 19 (Reuters) – ASOS (ASOS.L), the former British star of the shift to online fashion retail, will review its business model after the economic crisis and … Read more

Citigroup beats earnings estimates as rate hikes bolster lending business

Oct 14 (Reuters) – Citigroup Inc (CN) beat third-quarter profit estimates on Friday as its lending business benefited from a series of interest rate hikes by the Federal Reserve and offset weakness elsewhere divisions such as investment banking and trading. After facing years of near-zero interest rates, banks are seeing a sharp rise in net … Read more