The AIC Financial Blog

POWER TO YOU: VODAFONE MAINTAINS DIVIDEND

Shares in Vodafone the multi-national mobile and broadband provider jumped more than 5% on Tuesday morning (12 May) after the company reported a notable return to profit and promised to maintain its annual dividend of 8p per share at a time when most of its FTSE 100...

SHIFTING SANDS: SAUDI ARAMCO REPORTS

Saudi Aramco, the Saudi Arabian state-owned oil giant that listed with a record breaking $29.4bn initial public offering (IPO) in December, reported a 25% fall in first-quarter net profit to $16.6bn on Tuesday (12 May). However, it maintained its quarterly dividend,...

AEROSPACE INDUSTRY FACES ITS “GRAVEST CRISIS”

Airbus reported a 49% fall in first quarter core profit (adjusted earnings before taxes and interest) on Wednesday (29 Apr) as it warned the coronavirus was the “gravest crisis the aerospace industry has ever known”. On Monday (27 Apr) Airbus warned it was “bleeding...

Virgin dominos start to fall…

On Tuesday (21 April) Virgin Australia, announced in a statement to the Australian Securities Exchange that it had entered voluntary administration in the hope of emerging from the covid-19 crisis in a “stronger financial position.” The debt-laden company, which...

Mayday: US oil prices turn negative

An oversupply of oil combined with a sharp fall in demand as a result of the coronavirus global pandemic saw the price of West Texas Intermediate (WTI) US oil contracts for May fall to -$37.63 a barrel on Monday (20 Apr). The historic move into negative territory –...

US ‘BIG SIX’ BANKS SHIVER IN LOCKDOWN

A cold blast from the ‘big six’ US banks opened US reporting season this week. By Thursday morning (16 April) five of America’s biggest banks – JPMorgan, Wells Fargo, Bank of America, Citigroup and Goldman Sachs – had already reported with results from Morgan Stanley...