Manchester City post Premier League record revenue of 712.8m
Manchester City announced record-breaking revenue of £712.8m for the 2022-23 financial year, surpassing Manchester United's previous Premier League record.
City's profit almost doubled to £80.4m despite a large increase in wages, thanks to commercial and broadcast revenue.
The club's success in winning the Premier League, Champions League, and FA Cup treble boosted their finances through player transactions and increased broadcast income. [ more ]
Samsung teases "new premium" models of smartwatches, new form factors too
Samsung reported increased profits for Q1 2024 due to strong Galaxy S24 sales and mentioned changes in wearable strategy with the introduction of new products. [ more ]
B&Q owner sees profits tumble and warns over earnings for the year ahead
Kingfisher's annual profits slumped by more than 25%, with a significant drop in pre-tax profits to 568 million.
The group is overhauling its French arm, focusing on improving performance by restructuring stores and cutting down on underperforming locations. [ more ]
Major Brands Like McDonald's, Kroger and Coca-Cola Linked to Forced Prison Labor
Forced prison labor is a multibillion dollar industry that feeds into the supply chains of various food and grocery companies.
Prisoners, often facing abuse, make pennies on the dollar or no money at all while states, prisons, and companies make millions of dollars in profits. [ more ]
Bank profits mostly fall in fourth quarter, but banks remain upbeat on economy and consumer
Three major banks - JPMorgan Chase, Bank of America, and Citigroup - saw their profits fall last quarter due to higher interest rates and the costs of last year's banking crisis.
Despite this, the banks had a mostly strong year in 2023, driven by a resilient job market, consumer spending, and higher interest rates. [ more ]
2024 Layoffs: Citigroup announces it will cut 20,000 jobs as banks report lower Q4 profits
The profits of JPMorgan Chase, Bank of America, and Citigroup fell last quarter due to higher interest rates and industry costs from the banking crisis.
Despite the decline in profits, the banks had a strong year in 2023 driven by a resilient job market and consumer spending. [ more ]