News Highlights: Top Company News of the Day
Commerzbank Upbeat on Outlook After Surprise First-Quarter Profit
Commerzbank lifted its revenue outlook for the year after
posting an unexpected profit of EUR133 million for the first
quarter, supported by a strong top line and lower provisions.
Hapag-Lloyd Sees Strong Start to Year On Higher Demand, Rates
Hapag-Lloyd said its first quarter profits and revenues surged
thanks to high demand and freight rates and confirmed the positive
earnings trend is likely to continue over the next three months,
with a gradual normalization in the second half of the year.
Bayer Backs Outlook Despite Weaker First Quarter
Bayer's first-quarter core earnings fell slightly to EUR4.1
billion, on weaker sales, but the company maintained its key
forecasts for the year.
Allianz Maintains Target After Sharp Profit Rise
Allianz posted a rise in first quarter net profit to EUR2.6
billion, helped by a rebound in its property and casualty division
and life-health business and confirmed its 2021 operating profit
Boeing Says 737 MAX Supplier Tect Driven to Bankruptcy by Owners
Boeing said that in return for providing roughly $60 million in
bankruptcy financing, it deserves a stake in possible commercial
tort claims against Tect's directors and officers for potentially
breaching their fiduciary duties to the company, which filed for
chapter 11 protection last month.
Occidental Petroleum Climbing Out of Its Anadarko Hole
Occidental's first-quarter results show long-term investors hope
for returns-even if that is sometime in the distant future.
Michigan Threatens Enbridge's Profits in Great Lakes Pipeline Dispute
Gov. Gretchen Whitmer and Daniel Eichinger, director of
Michigan's natural resources department, remind the company in a
letter that the state revoked a permit that allowed the Line 5
pipeline to run along the bottom of the Straits of Mackinac.
Mortgage Lender Better to Go Public in SPAC Deal
The digital startup would merge with Aurora Acquisition and
raise nearly $800 million in new capital.
Toyota Motor's Quarterly Net Profit More Than Doubled
Toyota Motor Corp. said Wednesday that its fourth-quarter net
profit more than doubled from a year earlier, as it continues its
strong recovery from the Covid-19 pandemic.
Greensill Capital Is Target of U.K. Government Probe
The U.K.'s top financial regulator said it is investigating the
failed financial firm, citing allegations of what it called
"potentially criminal" matters. The company's founder, Lex
Greensill, is due to give testimony in the U.K. Parliament on
(END) Dow Jones Newswires
May 12, 2021 03:15 ET (07:15 GMT)
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