Category: Business

German broadcaster ProSiebenSat.1 Media (PSMGn.DE) on Thursday raised its 2021 full-year guidance for a third time this year after reporting a 15% jump in third quarter revenue at 1.06 billion euros ($1.23 billion). Its advertising business in the entertainment segment in particular surpassed its pre-pandemic levels, growing 18% year-on-year in the quarter, ProSieben said. The […]

Alphabet’s (GOOGL.O) Google said on Thursday it plans to allow third-party payment systems in South Korea to comply with a new law, marking the first time the U.S. tech giant has amended its payment policy for a specific country. Google’s announcement comes after a Korea Communications Commission’s (KCC) request for Google and Apple Inc (AAPL.O) […]

ING Groep NV (INGA.AS) on Thursday reported better-than-expected third-quarter pretax profit of 1.92 billion euros ($2.22 billion), due to fee growth and better commercial lending margins, as well as lower costs for bad loans. Analysts had seen pretax profit at 1.80 billion euros, according to Refinitiv data. In the third quarter of 2020, pretax profit […]

HeidelbergCement (HEIG.DE), the world’s No. 2 cement maker, launched a fresh 500 million euro ($579 million) savings programme to battle cost inflation, after higher energy costs caused a 11% drop in core profit. “The general conditions in the third quarter were very challenging due to the exceptionally high year-on-year basis in the previous year and […]

German logistics company Deutsche Post DHL (DPWGn.DE) increased its forecast again on Thursday for short- and medium-term profits as global trade recovered andpandemic-driven e-commerce shipments stabilised at a high level as stores reopened. Deutsche Post increased its forecast for 2021 operating profit to more than 7.7 billion euros ($8.92 billion) from a previous target of […]

Credit Suisse (CSGN.S) posted a 21% fall in third-quarter net profit to 434 million Swiss francs ($476 million), hit by a higher tax rate and a 214 million Swiss franc charge to settle allegations of corruption surrounding loans to Mozambique it helped arrange. It said it expected an impairment in the fourth quarter of around […]

The Russian economy will grow 3.0% in 2022 after expanding 4.3% this year, the European Bank for Reconstruction and Development said on Thursday, pointing to geopolitical risks that could cloud the economic outlook. The Russian economy has already recovered to pre-pandemic levels after its sharpest contraction in 11 years of 3% in 2020. But it […]