US $ 19.5bn
US $ 2.8bn
CATERPILLAR: HOW DATA CENTRES GAVE CATERPILLAR ITS BEST DAY IN 17 YEARS
Driven by global data-centre construction, Caterpillar shares surged 12 % in its best market day in 17 years. Q2 revenues jumped 24 % to a record US $ 20.54bn, while backlog surged 92 % to US $ 72.1bn. Demand for heavy machinery, turbines and large generators led CEO Joe Creed to raise long-term annual growth targets to 6-9 % through 2030.
HSBC’ S US $ 19.5BN HALF-YEAR VINDICATES ELHEDERY’ S SELL-OFF
HSBC posted a 23 % increase in first-half pre-tax profit to US $ 19.5bn and restarted share buybacks up to US $ 1bn, validating CEO Georges Elhedery’ s strategy of selloffs and simplification. Performance was bolstered by wealth management revenue surging 22 % to US $ 2.8bn, alongside strategic divestments across Egypt, Singapore and Australia expected to deliver US $ 2bn in annual cost savings by December.
23 % 22 % increase in first-half pre-tax profit to
US $ 19.5bn
wealth management revenue surgesto
US $ 2.8bn
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