Alfa Laval Q2 Adj. EBITA Rises, Organic Sales Growth At 9%; Names Fredrik Ekström CFO

World’s 4th Richest Man With Friends

Gautam Adani is now the fourth richest person on the planet.

The chairman of the Adani group overtook Bill Gates — once the richest man in the world — this week.

Adani and his family are worth $114 billion. Gates, who said he will donate $20 billion to his foundation, is in fifth place with wealth estimated at $102 billion.

Ahead of Adani are Tesla’s Elon Musk, Louis Vuitton’s Bernard Arnault and Amazon’s Jeff Bezos.

Adani’s wealth doubled in a year, and given that momentum, we could see the Ahmedabadi tycoon overtake Bezos by next year.

Mukesh Ambani, once Asia’s wealthiest person, is six places below his Indian rival, in 10th spot with a wealth estimated at $88 billion.

Glimpses of Adani with world leaders:

 

 

 

 

 

Photographs curated by Manisha Kotian/Rediff.com
Feature Presentation: Aslam Hunani/Rediff.com

Enjoy Life Recalls Select Bakery Products

Enjoy Life Natural Brands LLC is recalling a limited quantity of a select baked snacks products due to the potential presence of foreign material, such as hard plastic pieces, the U.S. Food and Drug Administration said.

The recall involves Enjoy Life – Soft Baked Cookies – Snickerdoodle, Chocolate Chip, Double Chocolate Brownie, Sunseed Butter Chocolate Chip, Monster, and Amazon Variety Pack; Chewy Bars – Sunseed Crunch and Caramel Blondie; Soft Baked Fruit & Oat Breakfast Ovals – Apple Cinnamon, Chocolate Chip Banana, and Berry Medley; and Brownie Bites – Rich Chocolate and Salted Caramel.

The recall is limited exclusively to the Enjoy Life products with various UPC and Best By Dates. The affected products were sold in retail stores and online in the United States and Canada.

No other Enjoy Life Foods products are affected by the recall.

The recall was initiated following an internal quality assurance surveillance. The company has not received any reports of injury or illness related to these products to date.

Consumers are urged to discard any product, but keep any available packaging and contact the company for a refund.

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Inflation hits 40 year high of 9.4% placing a further strain on pensioners’ finances

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The official news came this morning from The Office for National Statistics (ONS) who measured the core consumer prices index at 9.4 percent last month, up from May’s rate of 9.1 percent. It’s been largely driven by rising fuel prices.

Stephen Colbert Skewers Steve Bannon

“Finally, Bannon can tell the former president’s side of the story,” Colbert said on Tuesday.

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By Trish Bendix

Polar Capital FY Pretax Loss Widens On Revenue Return Basis

Polar Capital Technology Trust (PCT.L) posted a loss before tax of 14.7 million pounds on a revenue return basis for the year ended 30 April 2022 compared to a loss of 8.0 million pounds, prior year. Loss per share on revenue return basis was 12.36 pence compared to a loss of 7.65 pence. Total income was 15.9 million pounds on revenue return basis, compared to 18.2 million pounds, prior year.

On a total return basis, loss before tax was 256.6 million pounds compared to profit of 1.1 billion pounds, previous year. On a total return basis, loss per share was 191.61 pence compared to profit of 776.75 pence.

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Aker BP Q2 Profit Rises – Quick Facts

Aker BP (DETNF) reported a second-quarter net profit of $188 million or $0.52 per share up from $154 million or $0.43 per share in the previous year.

Total income for the quarter grew to $2.03 billion from $1.12 billion last year.

In the second quarter we produced 181.3 thousand barrels of oil equivalent per day, impacted by planned maintenance programmes. For the second half of 2022, the company expects to more than double its production as it integrates the Lundin assets.

Quarterly dividend increased by 11 percent to $0.525 per share.

The company has launched a decarbonisation plan to be net zero across all operations by 2030.It remains committed to reducing gross emissions across its operations and it has a clear pathway to reduce absolute emissions to close to zero by 2050.

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Alfa Laval Q2 Adj. EBITA Rises, Organic Sales Growth At 9%; Names Fredrik Ekström CFO

Alfa Laval AB (ALFA.ST) reported that its second quarter net income attributable to owners of the parent increased to 1.14 billion Swedish kronor from 973 million kronor, prior year. Earnings per share was 2.75 kronor compared to 2.32 kronor. Adjusted EBITA was 1.96 billion kronor, an increase of 13% from last year.

Net sales were 11.85 billion Swedish kronor compared to 9.97 billion kronor, previous year. Organic sales growth was 9 percent, for the quarter. Order intake increased by 10% to 14.42 billion kronor.

The company expects demand in the third quarter to be somewhat lower than in the second quarter.

Alfa Laval also announced the appointment of Fredrik Ekström, current President of Business Unit Brazed & Fusion Bonded Heat Exchangers and VP in the Energy Division, as Chief Financial Officer. Fredrik has held senior financial controlling and management positions at Alfa Laval over the past 24 years. He will take the new role from 1 November 2022.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.