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Search resuls for: "X Holdings"


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☆ Turkey banks fuss over bond holdings that ease pre-election spending
  + stars: | 2022-10-27 | by ( Nevzat Devranoglu Ebru Tuncay | Nevzat Devranoglu | Ebru Tuncay | ) www.reuters.com   time to read: +5 min
Many rules require banks to bulk up on treasuries. Two other bankers said the executives expressed concerns over longer-term "systemic risks" due to the level of their bond holdings. Parliament, dominated by the AKP and nationalist allies, is debating next year's budget including record spending of 258.4 billion lira on social aid. VULNERABLE TO REVERSALThe series of rules increased the central bank's authority over the government debt, credit and loan markets, bankers say. Akbank's (AKBNK.IS) Q3 net profit was 17.07 billion lira versus 3.21 billion lira year ago.
☆ Xerox shares slide as annual revenue, cash flow forecasts take a hit
  + stars: | 2022-10-25 | by ( ) www.reuters.com   time to read: +1 min
Oct 25 (Reuters) - Xerox Holdings Inc's (XRX.O) shares plunged about 25% to 13-year lows on Tuesday after the photocopy maker slashed its annual revenue and cash flow forecasts, blaming a stronger dollar and a slower-than-expected recovery in global supply chains. Xerox on Tuesday lowered its 2022 revenue forecast to between $7 billion and $7.1 billion, compared to its previous forecast of at least $7.1 billion, reflecting a weaker euro and British pound. The company, whose largest shareholder is activist investor Carl Icahn, cut its annual free cash flow (FCF) forecast to at least $125 million from about $400 million. The reduction is partly due to persistently high inflation and slower-than-expected supply chain improvements, Xerox said. Third-quarter revenue of $1.75 billion fell short of analysts' estimate of $1.77 billion, according to Refinitiv data.
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