Standard Chartered beats estimates with 40% profit jump, raises income outlook
Standard Chartered has announced a 40% surge in quarterly profit, propelled by increased interest rates that bolstered the bank’s income, allowing for a revision of its revenue outlook. The bank now anticipates a 13% growth in income for the year,…
Philips to cut 5% of workforce as new CEO acts to counter falling sales
Philips’ recently appointed CEO, Roy Jakobs, unveiled plans on Monday to trim approximately 4,000 jobs in response to declining sales and a substantial market value drop of about 70% over the past year, driven in part by a significant product…
Reliance to demerge fin services arm Jio Financial Services; list it on stock exchanges
Reliance Industries Ltd, led by billionaire Mukesh Ambani, announced on Friday its intention to demerge its financial services division and subsequently list it on the stock exchanges. According to the company’s statement, existing Reliance shareholders will receive one equity share…