SK Hynix, the South Korean memory chipmaker, made a remarkable turnaround in the first quarter of this year by reporting a net profit of 1.92 trillion South Korean won. This impressive figure marks a stark contrast from the 2.58 trillion won loss recorded in the same period a year ago. The company’s positive income in
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Employee Stock Purchase Plans (ESPPs) can be a valuable benefit offered by publicly traded companies. These plans allow employees to purchase company shares at a discounted price, providing an opportunity for potential financial gains. However, before enrolling in your company’s ESPP, it is essential to understand the rules and risks associated with this option. While
In a recent legal battle between VTB Bank and JPMorgan Chase, a Russian court ruled in favor of VTB Bank’s efforts to recoup $439.5 million that JPMorgan Chase had frozen in U.S. accounts following the Ukraine invasion. The court ordered the seizure of funds from JPMorgan’s Russian accounts and its stake in a Russian subsidiary.
Starbucks and the union representing its baristas, Workers United, are set to meet once again to resume contract negotiations after a long-standing stalemate. This development comes after both parties announced in February that they had found a “constructive path forward” during mediation discussions related to a dispute over the union’s use of Starbucks’ branding. This
As Ford Motor prepares to announce its first-quarter earnings after the markets close on Wednesday, there is anticipation surrounding the financial results. Analysts are projecting earnings per share of 42 cents adjusted and automotive revenue of $40.10 billion. These estimates represent a 2.6% increase in revenue from the previous year but a significant 32.9% decline
Over the course of the last week, mortgage rates have seen a steady increase, reaching levels that haven’t been seen since November. This rise in rates has resulted in a 2.7% decrease in mortgage application demand compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances has
U.S. prosecutors are pushing for former Binance CEO, Zhao, to receive a harsher sentence than the recommended guidelines. They are requesting a 36-month prison term for charges related to enabling money laundering. This sentence is significantly higher than the advisory range of 12 to 18 months usually provided for such offenses. The allegations against Zhao
French luxury group Kering suffered a significant blow as its shares plummeted over 9% following a profit warning. The company anticipates a sharp decline of 40% to 45% in first-half operating income, compared to the previous year. This warning attributed to diminishing demand for its flagship brand, Gucci, is a major setback for the renowned
Roche, a Swiss pharmaceutical company, recently released its first-quarter sales report, revealing a modest uptick in sales despite facing challenges related to the Covid-19 pandemic. The company reported a 2% increase in sales at constant exchange rates, driven by higher demand for its newer medicines and diagnostics. However, when sales were calculated in the company’s
Boeing is facing significant challenges following the midair loss of a door plug from a 737 Max 9 plane in January. This incident has not only led to a halt in production but has also resulted in a series of safety concerns and federal scrutiny. As the company prepares to release its quarterly report, analysts