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Industrial
General Electric (LON: GEC) to Pay $200 Million As Penalty to Resolve Federal Accounting Probe
December 11, 2020 12:04 AM AEDT| By Kunal SawhneySummary General Electric has agreed to pay $200 million to settle the probe into a case of misleading investors launched by the US Securities and Exchange Commission Securities regulators had ordered an investigation into GE’s accounting .....
Does recent restructuring activities lift the financial performance of Avon Rubber?
December 09, 2020 01:03 AM AEDT| By Hina ChowdharySummary Avon Rubber Plc has reported a 30.8% surge in revenues during FY20. The Company has completed the acquisition of Team Wendy LLC on 02 November 2020. It has maintained a cash conversion ratio of 84.9% as of 30 September 2020. The Compa.....
Siemens Energy AG (LON: 0SEA) mulls moving away from coal-fired power business
December 06, 2020 11:36 AM AEDT| By Team Kalkine MediaSiemens Energy AG (LON: 0SEA), the newly spun-off business of German power sector conglomerate Siemens AG, has decided not to tender for coal based power projects anymore. This is keeping in line with the company’s commitment to cut down its .....
Siemens Energy (LON: 0SEA) to be listed on the MDAX index of Germany
December 05, 2020 12:15 AM AEDT| By Hina ChowdharySummary Siemens Energy is going to be listed on the MDAX index of Germany The company will jointly develop world’s first industrial plant for producing green fuel Siemens Energy will be receiving a grant of around 8 million euros from th.....
What made Grafton Group to acquire wooden staircase maker for £44 million?
December 03, 2020 02:15 AM AEDT| By Hina ChowdharySummary Grafton Group Plc has reported a revenue increase of 4.7% for the four months ended on 31 October 2020. The Company will acquire StairBox Ltd. for £44 million in cash and on a debt-free basis. The Company is expecting its adjuste.....
How are Automotive and Powder Metallurgy Divisions of Melrose Industries Performing?
December 02, 2020 01:48 AM AEDT| By Hina ChowdharySummary Melrose Industries Plc has reported an adjusted revenue contraction of 25.8% during H1 FY20. The automotive segment has reported profitability with operating margins over 6% for the four months period ended on 31 October 2020. Nortek A.....
Why is Bodycote undergoing various restructuring activities?
December 01, 2020 01:22 AM AEDT| By Kunal SawhneySummary Bodycote Plc has reported a revenue contraction of 18.0% for the ten-months period ended on 31 October 2020. The Company has witnessed a significant restructuring activity in its AGI business segment. The Company has announced the paym.....
Royal Mail’s (LON: RMG) Parcel Revenue Surpasses Letters in First Half Of 2021
November 20, 2020 09:19 PM AEDT| By Hina ChowdharySummary Royal Mail’s revenue rose by 9.8 per cent to £5.67 billion in the first half of this year The company reported an operating loss of £20 million in the first half of this year due to the sharp rise in the coronavirus-re.....
Britain banning sale of petrol and diesel cars from 2030
November 17, 2020 03:53 AM AEDT| By Kunal SawhneySummary Official announcement expected within a week’s time, according to sources Fossil fuel based car makers to face a narrowing window for their existing products Electric vehicles market to get a boost UK Prime Minister .....
Why is The Hut Group (LON: THG) CEO receiving the highest payout in the British corporate history?
November 17, 2020 01:55 AM AEDT| By Team Kalkine MediaSummary CEO and founder of The Hut Group Matthew Moulding is set to get the highest payout in the UK corporate history In 2020, the company had the largest IPO listing on the LSE that valued the company at £4.5 billion, pricing at 500 pen.....
Can Rolls-Royce (LON: RR.) ride out the pandemic with a fresh fundraising?
November 15, 2020 05:29 PM AEDT| By Team Kalkine MediaSummary Rolls Royce successfully got £2 billion to sail through the turbulent times The pandemic has weighed down heavily on the business of the company Rolls Royce has decided to build small nuclear reactors across UK The pandemic .....
Are these two industrial players showing signs of recovery: Qinetiq Group Plc & Vesuvius Plc?
November 14, 2020 03:38 AM AEDT| By Hina ChowdharySummary Qinetiq Group Plc has reported a surge in revenue of 24% during H1 FY21. The Company delivered a strong cash performance with 134% underlying cash conversion pre-capex. Vesuvius Plc has reported a revenue contraction of 14.3% year-on-y.....
How did Brickability (LON: BRCK) display a V-shaped recovery amid the pandemic?
November 14, 2020 03:32 AM AEDT| By Hina ChowdharySummary The construction materials distributor’s performance improved as it came out of the pandemic’s worst phase The company has lined up a strong pipeline of acquisitions for further growth Brickability Group plc (LO.....
Will BAE Systems (LON: BA.) Fortune Change with the £4.8 Billion German Eurofighter Deal?
November 13, 2020 11:45 PM AEDT| By Hina ChowdharySummary BAE has reportedly won a contract worth £4.8 billion to build Eurofighter jets for Germany The company is expected to launch Tempest, a new fighter jet programme, which could lead to benefits of up to £25 billion. The FTSE .....
How well these two LSE players are performing after releasing their trading update: BAE Systems & J D Wetherspoon?
November 13, 2020 01:56 AM AEDT| By Hina ChowdharySummary BAE Systems Plc is expecting its FY20 revenues to grow by a low single-digit percentage. The Company has announced an interim dividend of 9.4 pence to be paid on 30 November 2020. J D Wetherspoon Plc has reported a revenue decline of 3.....
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Caterpillar Q3 profit drops by half as lower equipment demand bites revenue
October 29, 2020 01:06 AM AEDT| By Team Kalkine MediaCaterpillar Q3 profit drops by half as lower equipment demand bites revenue Caterpillar profit per share for the September 2020 quarter came in at $1.22, down 54.14 per cent QoQ Following the earnings release, Caterpillar shares plunged 3.24 per...
Rolls-Royce and Meggitt shares in Focus as Aerospace Sector Record Worst Quarter
October 27, 2020 03:20 AM AEDT| By Team Kalkine MediaSummary The global aerospace industry has just recorded its worst quarter this year with the lowest number of new orders recorded Job redundancies in the sector are expected to rise further if the situation persists. Industry experts also warne.....
Royal Mail Christmas on a hiring spree: 33,000 positions added to handle festive rush
October 27, 2020 03:12 AM AEDT| By Kunal SawhneySummary According to Royal Mail, the temporary workers during the Christmas period will be required to manage the additional traffic of parcels and other delivery requests Royal Mail is eyeing “proactive and detail-focused” people, .....
Latest Business Updates Unveiled by Two LSE Stocks - Mondi Plc and Essentra Plc
October 24, 2020 04:19 AM AEDT| By Hina ChowdharySummary Mondi Plc's EBITDA for Q3 2020 declined by 20% year on year in Q3 20. The underlying EBITDA is expected to be down by around €100 million in FY2020 due to the planned mill maintenance. Essentra Plc reported a revenue decline of 6......
Tesla drives profits for fifth quarter in a row
October 24, 2020 02:58 AM AEDT| By Kunal SawhneySummary Despite the coronavirus pandemic, sales at Tesla have scaled up to reach a new record high Tesla hoped to meet its vehicle target set for the year 2020 but said it could be tougher Having enjoyed the first mover advantage, Tesla is now.....
AI on the Rise: A Look at Top AI Companies and Their Stocks