Last update: Fri, 12 Feb 2016 05pm

Company News: World


The financial information group Thomson Reuters said Thursday it sees an improving outlook for 2016 after reporting a drop in profits in the fourth quarter. The group known for its financial and legal information services as well as the Reuters news agency reported earnings of $408 million in the quarter, down 64 percent from a year ago.
PepsiCo Inc reported better-than-expected quarterly net revenue on Thursday as higher sales of snacks and non-fizzy beverages such as Gatorade in North America helped reduce the impact of a strong dollar. PepsiCo increased its annual dividend to $3.01 per share from $2.81 and said it would return about $7 billion to shareholders this year, with about $3 billion through buybacks.
Finnish telecom equipment giant Nokia's net profit fell by 29 percent in 2015, to 2.45 billion euros ($2.8 billion) ahead of acquiring its French-American rival Alcatel-Lucent, the company said on Thursday. The drop was due to the 2014 results including 5.4 billion euros Nokia gained from selling its unprofitable handset unit to Microsoft.
Rio Tinto scrapped its generous payout policy in the face of a bleak outlook for the global economy after it slumped to a net loss for 2015 and posted its worst underlying earnings in 11 years. The dividend decision also gives the world No 2 miner flexibility to pursue acquisitions in future, analysts said, and Chief Executive Sam Walsh acknowledged his team was keeping an eye out for top-tier assets, particularly in copper.
Norwegian telecoms operator Telenor said Wednesday it expected its earnings to slow this year after provisions and impairment losses heavily impacted its 2015 earnings. Telenor's share price slumped on the Oslo stock exchange, shedding 7.5 percent in early afternoon trading after the group's fourth quarter earnings came in below analysts' forecasts.
Time Warner Inc reported a steeper-than-expected drop in quarterly revenue as subscription revenue for its cable channel HBO and Turner television network disappointed Wall Street, sending the company's shares down as much as 8 percent. Revenue at Warner Bros, the company's movie studio, also fell 13 percent, hurt by a lack of hit movie releases and a strong dollar, overshadowing a quarterly profit beat and a raised profit forecast for the year.
Kuwaiti telecoms giant Zain said Wednesday its net profit rose slightly in the fourth quarter but fell sharply in 2015 due to unrest in some markets and a strong dollar. Zain posted a net profit of 36 million dinars ($120 million) in the last three months of 2015, up eight percent on the corresponding period of the previous year, the company said in a statement.