share buyback

No, we don’t need a company tax cut to fuel manufacturing funding

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No, we don't need a company tax cut to fuel manufacturing funding

The text discusses the debate surrounding company tax cuts in Australia, with Industry Minister Ed Husic suggesting that corporate tax reform or investment allowances for manufacturing capital should be considered. However, the text highlights that recent data shows a rise in investment in Australia, particularly in data centres, infrastructure, and energy, driven by the services sector. This surge in investment contradicts the narrative that company tax cuts are necessary to encourage business investment.

Trading app Robinhood unveils maiden stock buyback plan of $1 bln

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Trading app Robinhood unveils maiden stock buyback plan of $1 bln

Robinhood Markets has launched a billion share buyback plan to grow beyond its startup phase.

Ryanair boss says , ‘recessionary feel’ may be limiting air ticket price rises

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Ryanair boss says , ‘recessionary feel’ may be limiting air ticket price rises

Ryanair CEO Michael O’Leary mentioned that there is a “recessionary feel around Europe” which could be a factor in slower-than-expected growth in airfares.

Ryanair boss says ‘recessionary feel’ could be limiting air ticket price rises

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Ryanair boss says ‘recessionary feel’ could be limiting air ticket price rises

Ryanair CEO Michael O’Leary mentioned a “recessionary feel around Europe” as a possible reason for slower airfare growth. The airline posted record annual profits slightly above expectations, with a forecast of flat to modest summer price growth. Ryanair will be 23 jets short of Boeing’s delivery target by the end of July, with potential compensation for delays. The airline flew a record 184 million passengers contributing to a 34% increase in annual profit. Ryanair also announced a 700 million euro share buyback.

Sony shares leap 12 per cent on buyback and dividend plans, higher profit outlook

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Sony shares leap 12 per cent on buyback and dividend plans, higher profit outlook

Shares in Sony Group jumped 12 per cent after pledging to boost shareholder returns and forecasting higher annual profit with a boost from its image sensors business. Sony will spend up to 250 billion yen on a share buyback and gradually increase dividends with a target of a 40 per cent total payout ratio by the financial year ending March 2027. Sony will allocate 1.8 trillion yen over the next three years to growth investments and share repurchases. Sony also plans to conduct a five-for-one stock split to expand its investor base.

Bank of Cyprus Q1 profits stable at , €133 mln

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Bank of Cyprus Q1 profits stable at , €133 mln

Bank of Cyprus Holdings announced €133 million in first quarter profits, up 40% year-on-year but €5 million short of the previous quarter’s after-tax profits.

Bank of Cyprus posts , €133 million profit —new lending hits €676 million

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Bank of Cyprus posts , €133 million profit —new lending hits €676 million

The Bank of Cyprus released its financial results for the first quarter of 2024, reporting a profit after tax of €133 million.

Cyprus banks: interest rate policies harming borrowers and savers

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Cyprus banks: interest rate policies harming borrowers and savers

By December 2023, interest rates on Cyprus bank loans for house purchases had reached an average of 5.1%, compared with the average rate of 3.8% for other euro area countries. The average interest rate on Cyprus bank loans to corporations was 5.7% in December 2023, exceeding the euro area average of 5.1%. Cyprus banks had increased their profits by 600% to over €1.1 billion in 2023. The interest income of the two largest banks increased by €830 million between 2022 and 2023, mainly due to higher interest receipts from the ECB. Cyprus banks deposited around 35% of their assets at the ECB, earning from 2% to 4% in interest in 2023. Cyprus banks offered an average interest rate of 2.06% on fixed term deposits in January 2024, compared with an average deposit rate of 3.21% in the euro area. The net interest margins for Cyprus banks exceeded three percentage points, while the average for the euro area was just over one percentage point. The Bank of Cyprus announced that €112 million of their after-tax profit of €487 million would be distributed as cash dividends to shareholders, with a share buyback of up to €25 million.