Stocks in action: Yandex, Scotiabank

Here is a selection of ads that have moved (or will move) the prices of these companies:

(Go back to reading us from time to time
not to miss an update)

Yandex, the “Russian Google”, is getting rid of its media activities

yandex (YNDX.ME, RUB1.704, -0.41% at 09:37) “has reached an agreement with VK Group, one of the major social networks, which provides for the sale of its platforms to VK” news “and” Zen ” As well as the domain name of its home page, according to a press release from the group. The VK group, owner of VKontakte, the “Russian Facebook”, confirmed in a statement that it will become the owner of the Yandex news platforms.

As part of this transaction, which must be finalized by 2023, VK must transfer all shares of the Delivery Club food delivery service to Yandex. This agreement will significantly strengthen the weight in the information landscape of VK, a group led by Vladimir Kirienko. , son of Sergei Kirienko, a member of the presidential administration and close to Vladimir Putin.

Owner of the leading Russian-language search portal, Yandex is registered in the Netherlands and has European, British and American branches. Yandex’s decision to hand over its media assets to VK comes amid criticism of the group for its alleged role in the censorship and propaganda accompanying the Russian military intervention in Ukraine.

The “news” page of Yandex thus filters publications containing the word “war”, banned by the Russian media regulator who dictates the term “special military operation”. In June, Yandex co-founder and CEO Arkadi Voloj resigned from the management of the group after being individually sanctioned by the European Union.

To date, however, Yandex has not been targeted as an organization. Faced with the risk of sanctions, Yandex therefore believes that its interests “can best be served by carrying out a strategic withdrawal from its media activities,” according to the press release.

Scotiabank: profit and revenues up in the third quarter

The Bank Scotland (BNS.TO, $ 80.78, down 0.57% at close on Aug 22) reports that its net profit in the third quarter of the current fiscal year was $ 2.594 billion (G $), in increase from $ 2.542 billion in the corresponding fiscal quarter 2021. Diluted earnings per share increased from $ 1.99 to $ 2.09 over the same period. As for the adjusted net profit, it increased in one year, from $ 2.56 billion to $ 2.611 billion. Adjusted diluted earnings per share increased from $ 2.01 to $ 2.10.

In the quarter ended July 31, total revenue was $ 7.799 billion; it had been $ 7.757 billion a year earlier. Scotiabank Canadian Banking earnings increased 12% while International Operations earnings increased 28%.

The institute instead reports that the profit of Global Banking and Markets, equal to 378 million dollars, fell by 26% due to the decline in revenues from financial markets. President and CEO Brian Porter noted during the most recent quarter that solid credit quality despite loan portfolio growth across all lines of business, prudent expense management and customer resilience were the highlights of the quarter. despite the less favorable macroeconomic environment, according to him.

Leave a Comment