Societe Generale Beats Forecasts, Sees Progress

SocGen reported lower profits for the first quarter on slightly weaker revenue but reiterated its 2024 guidance and signaled an improvement in its French retail-banking arm. 


 
Apple Sales Fall as iPhone, China Businesses Remain Sluggish

The iPhone maker authorized $110 billion in share buybacks and forecast a return to revenue growth in the current quarter. 


 
TikTok Tells Advertisers It Won't Back Down as U.S. Ban Looms

TikTok told advertising executives that it would fight the looming U.S. ban of its app in court, aiming to assuage the concerns of an industry that largely overlooks lawmakers' data security concerns in its bid to reach consumers online. 


 
Macquarie's Full-Year Profit Falls, Cuts Dividend

Australia's biggest investment bank and asset manager reported a 32% fall in annual profit and cut its dividend by 14%. 


 
Flight Centre's Top Executive Sees Growth Without Major M&A

Flight Centre's top executive says the Australia-based travel company is well-positioned to grow without more major deals, though smaller acquisitions are still possible in specialized areas. 


 
Blue Owl Sees Credit Resilience Despite Growing Default Fears

The co-head of alternative asset manager Blue Owl Capital said private-credit firms are in good shape to withstand a sharp rise in loan defaults, despite fears the young market has yet to be tested by a serious economic downturn. 


 
Sony, Apollo Make $26 Billion All-Cash Offer for Paramount

Sony Pictures and Apollo Global Management have submitted an all-cash, $26 billion offer for Paramount Global, marking the second time the private-equity firm has come in with a bid for the entertainment giant. 


 
Coinbase Blows Past First-Quarter Earnings Estimates. Bitcoin's Boom Bolstered Profits.

Recent euphoria around Bitcoin's acceptance by major institutions probably provided a boost to the company this year, but major threats to its business remain. 


 
TD Bank Probe Tied to Laundering of Illicit Fentanyl Profits

The Canadian bank faces three other U.S. probes into its anti-money-laundering controls. 


 
Apollo Raised $40 Billion in First Quarter, Eyes New Debt Vehicle for Individuals

The alternative-asset manager's earnings rose as investors flocked to private-debt funds.


(END) Dow Jones Newswires

05-03-24 0315ET