International company news in brief: Carlyle beats estimates for first-quarter profit

Bengularu — Global investment firm Carlyle Group beat estimates for first-quarter profit on Thursday, helped by higher fees as its assets under management climbed to a record.

While markets have been volatile for most of the year because of economic uncertainty and US President Donald Trump’s tariff rhetoric, large asset managers such as Carlyle have navigated the environment with relative ease.

Their portfolio of investments can fetch millions in management fees, providing stability even when exit opportunities are scarce, and allowing them to capitalise on disruptions and snap up assets at a bargain.

Carlyle’s distributable earnings, which measures cash that can be returned to shareholders, rose 5.6% to $455.4m, or $1.14 per share, for the three months ended March 31.

Analysts were expecting 95 cents per share, according to estimates compiled by LSEG. Reuters

Two late-stage studies show pain drug works fast

Bengularu — Viatris said on Thursday that its fast-acting form of generic pain drug meloxicam met the main goals of two late-stage studies.

The company’s shares rose 4.1% in premarket trading.

Viatris expects to seek marketing approval for the drug from the US Food and Drug Administration by the end of the year.

One of the studies was in patients who had undergone surgeries to repair hernia, while the other, followed a surgical procedure to correct bunions, a deformity at the big toe joint.

In both the studies, the drug led to improvement in pain compared to placebo, as measured by a commonly used scale to evaluate the effectiveness of pain treatments, called Sum of Pain Intensity Difference.

It also helped reduce usage of opioids, which are highly addictive, over the entire treatment phase. Reuters

Standard Chartered trade network a tariff cushion

London — Standard Chartered said on Thursday its trade-focused business was well positioned to cope with disruption from US President Donald Trump’s global tariffs.

“While an escalating trade war would impact global growth and our markets, we believe our network is a key, distinctive and strategic advantage for Standard Chartered,” CEO Bill Winters said in a statement released in conjunction with the bank’s annual shareholder meeting in London.

The bank’s network is not overly reliant on any single bilateral trade relationship and only seven corridors generate network income greater than $100m per annum, Winters said. Reuters

Burger King parent misses revenue target

Bengularu — Restaurant Brands missed first-quarter revenue estimates on Thursday, hurt by weak demand at its restaurant chains such as Burger King against the backdrop of tariff-related uncertainty.

The restaurant industry has been battling ongoing sales declines as budget-conscious Americans stick to home-cooked meals, prioritising spending on essentials over dining out.

The US economy shrank for the first time in three years in the first quarter, signalling consumers are expecting product prices to shoot up due to the escalating global trade tensions.

Restaurant Brands’ US-listed shares fell about 2% in premarket trading.

The company reported quarterly revenue of $2.11bn, compared with analysts’ average expectation of $2.13bn, according to data compiled by LSEG. Reuters

Ad group’s clients spend on AI ahead of marketing

Bengularu — Martin Sorrell’s ad group S4 Capital said on Thursday that clients were choosing to spend on artificial intelligence rather than marketing, pushing first-quarter revenue 11% lower.

The owner of ad agencies Monks and MightyHive acknowledged that volatility created by US tariffs would lead clients to remain cautious.

Shares in S4 were trading 6% lower at 24.25 pence by 9.12am (GMT).

On a conference call, executive chairperson Sorrell said S4 expects like-for-like growth in the third and fourth quarters, when it will benefit from a ramp-up in deals with Amazon and General Motors. Reuters