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Business from the Wall Street Journal
- UBS returned to profit in the first quarter and booked $27 billion in new assets into its key global wealth management business.
- BP’s first-quarter profit was hit by lower oil and gas trading but it confirmed a $1.75 billion share buyback.
- Heidelberg Materials first-quarter underlying earnings came in at €542 million and it continued to target full-year results from current operations of €3-€3.3 billion.
- Bouygues said its operating profit from activities rose to €26 million and the company reiterated its guidance for 2024 of slightly higher sales and profits compared with 2023.
- DHL owner Deutsche Post posted lower quarterly earnings as its key business-to-business market failed to improve, but it said conditions should improve in the second half of the year and backed its full-year guidance.
- Zalando swung to a profit in the first quarter but revenue fell 0.6% as active customers declined.
- A Boeing spacecraft was due to take its inaugural crewed flight Monday, carrying NASA astronauts to the International Space Station.
- The jet maker recently said its employees may have skipped some Dreamliner checks related to electrical safeguards.
- The reporting addressed the Supreme Court, the Israel-Hamas war and child-migrant labor.
- Trump Media & Technology Group said it had appointed Semple, Marchal & Cooper as its new financial auditor after its previous accounting firm was banned by regulators.
- One of the Biggest Hospital Failures in Decades Raises Concerns for Patient Care
WSJ.com: US Business
Steward Health Care is at risk of running out of cash, putting regulators on alert for shutdowns. - Expansion of data centers fuels demand for generators and battery backups: “You cannot have downtime.”
- The former CEO calls for a ‘focus on customer experience’ in a post after the company’s earnings miss.
- Simon & Schuster is acquiring Dutch publishing house Veen Bosch & Keuning for an undisclosed amount, its first deal for a non-English book publisher as it pushes to expand internationally.
Market News from Wall Street Journal
- After Russian troops stormed into the country two years ago, Ukraine’s lenders said Kyiv could wait to pay them back. Now, their patience is starting to run out.
- UBS said it was back in profit, after two loss-making quarters driven by costs from integrating Credit Suisse.
- The Australian lender reported a 4% fall in interim profit, but boosted its dividend by almost 2.5% and announced a share buyback as its capital position remained strong.
- The agency could seek an order that would prevent the popular brokerage firm from trading certain crypto assets.
- The S&P 500 rose 1%, while the Dow Jones Industrial Average added 0.5%. Walt Disney, Uber and Airbnb are among the companies reporting results this week.
- Jim Langston is leaving Cleary Gottlieb Steen & Hamilton to join Paul Weiss’s mergers-and-acquisitions practice.
- AI-enabled smartphones and PCs should help the maker of wireless chips, which remains among the cheapest in semiconductor stocks.
- To become an economic powerhouse like China, India urgently needs to address rising income inequality.
- Not that critics of Jerome Powell’s latest move don’t have some good points, says Streetwise columnist James Mackintosh.
- The Australian bank said its first-half net profit fell by 16%, but it would return more capital to shareholders through an increased dividend and bigger share buyback.
- Month’s pullback still leaves performance in the green so far in 2024. Also: A flashback to the 40th anniversary of the Continental Illinois banking crisis.
- As hopes of interest-rate cuts fade, some commercial real-estate borrowers want to cut loose.
- After years in the doldrums, European banks have cleaned up their balance sheets. The result: Stock prices have surged.
- The legendary investor praised the iPhone maker at his annual meeting in Omaha, Neb., even after revealing that Berkshire had slashed its stake in the first quarter.