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(Reuters) – Robinhood Markets Inc posted a 6% sequential increase in second quarter revenue despite a market sell-off in equities and cryptocurrencies. Robinhood announced last quarter that it was changing the way it provided revenue projections by providing “certain limited purpose statistical and operational results on a monthly basis.” The Menlo Park, California-based company also …

Robinhood posts 6% sequential increase in 2nd qtr revenue Read More »

(Reuters) – Brazilian payment processor Cielo SA said on Tuesday its second-quarter net profit more than doubled, beating analysts’ forecasts. The company, controlled by lenders Bradesco and Banco do Brasil, posted net income of 635.3 million reais ($120.38 million), well above the 285.9 million reais expected by analysts in a forecast compiled by Refinitiv. (Reporting …

Brazil’s Cielo Q2 net profit doubles, beating forecasts Read More »

By Fergal Smith TORONTO (Reuters) – Canada’s main stock index fell on Tuesday, giving back some recent gains, as a slowdown in manufacturing activity as well as rising tensions between the United States and China dented investor sentiment. The Toronto Stock Exchange’s S&P/TSX composite index closed down 187.59 points, or 0.95%, at 19,505.33, as trading …

TSX gives back some recent gains as resource shares fall Read More »

By Hannah Lang (Reuters) -Retail trading platform Robinhood Markets Inc said on Tuesday it is laying off about 23% of its employees, sending its shares down more than 3% in extended trading. The company is also changing its organizational structure to “drive greater cost discipline,” Robinhood Chief Executive Officer Vlad Tenev said in a blog …

Robinhood cutting workforce by 23% Read More »

MEXICO CITY (Reuters) -Steel producer Ternium reported on Tuesday a 19% drop in its second-quarter net profit from the year-ago period, as the costs of sales and expenses grew. The company’s net profit reached $936 million. Costs of sales hit $3.1 billion, up from the $2.4 billion in the previous year. Ternium, which operates in …

Steelmaker Ternium reports 19% drop in Q2 net profit as costs grow Read More »

(Reuters) -Vacation rental Airbnb Inc forecast current-quarter bookings at par with the previous quarter, disappointing investors who had expected accelerated growth thanks to summer demand and sending shares down 7%. Booking rates slowed in May and June from April, the company said. However, it posted a 58% rise in quarterly revenue thanks to early bookings …

Airbnb’s moderate bookings forecast disappoints investors, shares slide Read More »

By Sabrina Valle (Reuters) – Brazil’s state-controlled oil company Petrobras will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government’s coffers amid a tense presidential campaign. The five biggest Western oil producers – Exxon Mobil Corp, Chevron Corp., Shell PLC, TotalEnergies and BP – posted …

Petrobras leapfrogs oil majors in dividend payouts Read More »

By Ernest Scheyder (Reuters) – General Motors Co is prepaying Livent Corp $198 million for a guaranteed six-year supply of lithium to build electric vehicle batteries, a deal that underscores surging demand for the metal among automakers. Both companies had announced the broad brushstrokes of the deal last wek, but Livent announced the financial terms …

GM paying Livent $198 million for guaranteed lithium supply Read More »

MOSCOW (Reuters) -Russia’s leading food retailer X5 Group said on Tuesday it planned to resume investments to grow and expand the business after reporting a 79.4% jump in second-quarter net profit to 26.8 billion roubles ($446.7 million). The retailer, whose revenue rose 18.6% in the quarter to 648.0 billion roubles, said it would continue looking …

Russian retailer X5 to invest in growth again after Q2 profit jumps Read More »