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huawei reports 28 percent profit drop despite 22 percent revenue surge

Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
ABC News
Chinese Yuan Huawei Technologies CO. Ltd. CAN JPN CHN SWE NZL AUS GBR USA Show more
Business & Industry, News Article
15:12 31.03.2025

barclays lowers schlumberger price target while maintaining overweight rating

Barclays has adjusted its price target for Schlumberger Limited to $53 from $54 while maintaining an overweight rating. Schlumberger, the leading provider of oil and gas exploration and production services, generates net sales primarily from well development (36.2%) and oil production equipment (32.9%), with a significant portion also from optimizing reservoir performance (19.4%) and digital solutions (11.5%). Geographically, sales are distributed across North America (18.4%), the Middle East and Asia (35.9%), Europe/CIS/Africa (26.6%), and Latin America (18.5%).
MarketScreener
United States Dollar Schlumberger Limited ARE BRA RUS USA Show more
Business & Industry, Market Report
15:10 31.03.2025

Huawei reports record revenue and profits in 2024 annual results

Huawei reported a robust 2024 performance with CNY862.1 billion in revenue and CNY62.6 billion in net profits, investing CNY179.7 billion in R&D, which is 20.8% of its revenue. The company achieved significant growth in AI and intelligent automotive solutions, while emphasizing quality and collaboration for future success. All financial statements were independently audited by KPMG.
TechAfrica News
Chinese Yuan CHN Sabrina Meng
Business & Industry, Press Release
15:06 31.03.2025

Taobao invests 1.5 billion dollars in livestreaming to boost user growth

Taobao is investing 11 billion yuan (US$1.5 billion) in its livestreaming unit, Taobao Live, aiming to double its gross merchandise volume and user base by 2027. The strategy focuses on user acquisition, curated product offerings, and support for professional streamers, following a year of significant growth in transactions. With over 200 million annual active buyers, the platform sees potential for expansion in the competitive livestreaming market.
Tech in Asia
Chinese Yuan CHN Meng-Xing Tang
Business & Industry, Market Report
15:05 31.03.2025

deeptech and ai startup funding expected to increase significantly in 2025

Deeptech and AI startup funding is projected to increase by 30-50%, according to Sateesh Andra of Endiya Partners. This surge reflects growing investor confidence in innovative technologies and their potential to drive significant advancements in various sectors.
StartupNews.fyi
Sateesh Andra
Finance & Economy, Market Report
15:03 31.03.2025

barclays lowers ups price target to ninety dollars maintains underweight rating

Barclays has lowered its price target for United Parcel Service, Inc. to $90 from $100 while maintaining an underweight rating. The company, a leader in package transportation, generates 78.9% of its net sales in the U.S., with a fleet of 563 aircraft and around 135,000 vehicles. Net sales are primarily derived from express delivery and transportation services.
MarketScreener
United States Dollar United Parcel Service, Inc. USA
Business & Industry, Market Report
14:58 31.03.2025

ubs raises safran price target amid defense supercycle concerns

UBS maintains a Neutral rating on Safran while increasing its price target from 235 to 265 euros, citing potential benefits from the defense supercycle, with 20% of sales linked to defense. However, the broker warns that upcoming information on tariffs could lead to increased share price volatility due to Safran's significant exposure to Mexico.
ABC Bourse
Euro Safran SA FRA
Finance & Economy, Market Report
14:58 31.03.2025

Li Auto targets 700000 vehicle sales by 2025 amid growth challenges

Li Auto has set an ambitious sales target of 700,000 vehicles for 2025, as reported by Chinese media, although the company has not yet confirmed this figure. In 2024, it delivered over 500,000 vehicles, primarily extended-range electric models, and achieved profitability in 2023, becoming the first Chinese EV startup to exceed $1 billion in revenue. However, delays in the rollout of its MEGA model led to a revision of its original 2024 sales target.
Tech in Asia
Chinese Yuan Li Auto Inc. CHN
Business & Industry, News Article
14:57 31.03.2025

Elon Musk links DOGE cuts backlash to Tesla stock decline

Elon Musk has stated that the backlash against his government cuts related to DOGE is negatively impacting Tesla's stock performance. This situation highlights the interconnectedness of his ventures and the market's reaction to his decisions.
CNBC
Tesla, Inc. USA Elon Musk
Business & Industry, News Article
14:55 31.03.2025

goldman sachs raises recession odds to 35 amid tariff concerns and inflation

Goldman Sachs has raised the probability of a U.S. recession to 35%, citing deteriorating consumer and business confidence, and the economic impact of higher tariffs. The bank anticipates three interest rate cuts this year, despite inflation concerns, as it shifts focus to labor market issues and growth stagnation. Meanwhile, Moody's Mark Zandi has increased recession odds to 40%, suggesting a potential "recession by design" due to current policies.
Fortune
United States Dollar Bridgewater Bancshares, Inc. VANECK MOODY'S ANALYTICS BBB CO The Goldman Sachs Group, Inc. USA Scott Bessent Ray Dalio Mark Zandi Kush Desai Show more
Finance & Economy, Market Report
14:54 31.03.2025
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