TransferWise posted an annual net profit of £10.3 million on revenues of £179 million.
European stocks closed slightly higher Wednesday, amid investor caution ahead of an expected U.S. interest rate cut. European Markets: FTSE, GDAXI, FCHI, IBEXThe pan-European Stoxx 600 closed provisionally up around 0.1%. Europe's oil and gas stocks were among the biggest gainers, up almost 0.5%. It comes after Saudi Arabia announced late Tuesday that oil production would be fully restored by month-end. The OPEC kingpin's largest oil processing facility Abqaiq and the nearby oil field was attacked on Saturday, knocking out more than half of the kingdom's output. The drone attack has heightened tensions between the U.S. and Iran, with Washington blaming Tehran for the attacks. On Wednesday, President Donald Trump said he ordered Treasury Secretary Steven Mnuchin to "substantially increase" sanctions on Iran. The country denies any involvement. Looking at individual stocks, France's EDF was among the best performers. The state-controlled utility company said Wednesday..
VIDEO3:5403:54Saudi oil minister says all capacity will be restored by end of SeptemberCapital ConnectionSaudi Arabia's pledge to fully restore crude production by the end of the month has prompted a flurry of oil market forecasters to reconsider their price projections. "The oil market is facing challenging times," Carsten Fritsch, energy analyst at Commerzbank, said in a research note published Wednesday. "Recent attacks on oil facilities in Saudi Arabia have painfully demonstrated the risks to oil supply, which is why short-term price spikes are possible at any time." But, citing weakening market fundamentals, Fritsch explained that the German bank does not consider the recent price surge to be sustainable. Instead, Commerzbank expects the price of Brent oil to fall to $60 per barrel next year. Energy Minister Prince Abdulaziz bin Salman said in a press conference Tuesday that the kingdom would soon have its oil supply back online after a series of drone attacks knocked out 5.7..
A business (also known as an enterprise, a company or a firm) is an organizational entity involved in the provision of goods and services to consumers.Businesses serve as a...
Home Depot's massive investment plan could prevent margin expansion, according to Guggenheim. The firm downgraded the home improvement retailer's stock to neutral and removed its $230 price target. "We find it difficult to see a path to EBIT margin expansion in 2020 as both a) investment spending and b) the associated D&A drag are poised to ramp," said Guggenheim analyst Steven Forbes in a note to clients on Tuesday. Home Depot kicked off its $5.4 billion investment plan in 2017, as the company works to invest across stores, online and supply chain segments. Although the plan is going well, some spending has been pushed to 2020 and capital expenditures are going to ramp next year and ultimately prevent margin expansion, Forbes said. Shares of Home Depot ticked more than 1% lower in extended trading following the downgrade on Tuesday. Guggenheim estimates the investment expenses in 2020 will have a 20 to 40 basis point hit to EBIT margins. Plus, operating expenses will also b..
Isrseli Prime Minster Benjamin Netanyahu gives an announcement on September 10, 2019 in Ramat Gan, Israel.Amir Levy | Getty Images News | Getty ImagesIsraeli citizens will vote for the second time in less than six months on Tuesday, in an election that is widely seen as a de facto confidence vote on Prime Minister Benjamin Netanyahu. The ballot comes at a precarious time for the country's longest serving prime minister, with the right-wing incumbent facing formidable challengers to his reign and possible criminal charges in three corruption cases. The most recent opinion polls showed Netanyahu's Likud party running neck-and-neck with the centrist Blue and White party, headed by former military chief Benny Gantz. Neither are expected to secure a majority. It means the real battle for power is likely to take place immediately after all the votes are counted, when negotiating begins to form a coalition government. "The election is about three issues: Bibi, Bibi, and Bibi," Henry..