COMPANY NEWS IN BRIEF

Discovery revenue beats estimates Discovery Inc beat Wall Street expectations for second-quarter revenue on Tuesday, buoyed by higher paid streaming subscriber additions.Discovery benefited from the ongoing Tokyo Olympics, seeing more subscribers and higher advertising sales on its network during the second quarter. International advertising sales also rose 88% during the quarter, it said.Revenue rose about 21% to US$3.06 billion in the quarter ended June 30, edging past estimates of US$2.99 billion.The results come at a time when the Animal Planet and TLC-owner is combining with AT&T's WarnerMedia unit to create a new media business, seeking scale to take on streaming rivals such as Netflix Inc and Walt Disney Co.Total paid streaming subscribers globally stood at 17 million at the end of the second quarter. Net income more than doubled to US$672 million, or US$1.01 per share. -Nampa/ReutersDHL orders 12 Eviation planesDHL Express has ordered 12 electric cargo aircraft from start-up Eviation for delivery in 2024 and plans to build the world's first electric air cargo network, the unit of German logistics group Deutsche Post said on Tuesday.DHL Express said in a statement that it was the first company in the world to order "Alice" aircraft from Eviation, adding it planned to establish the first electric air freight network in a step towards sustainable aviation."We strongly believe in the zero-emission future of logistics," said John Pearson, CEO of DHL Express. "Together we are venturing into a new decade of sustainable aviation."DHL said Eviation expects to make a maiden flight later this year and plans to deliver the cargo aircraft to DHL in 2024.It said "Alice" can be flown by a single pilot and carry over 1 200 kgs of cargo. The charging time per flight hour is approximately 30 minutes, and the maximum range is 815 km.Eviation, owned by Singapore's Clermont Group, is one of a number of companies looking to develop small electric aircraft that would incur lower energy and operating costs, release less emissions and be quieter than conventionally fuelled planes. -Nampa/ReutersStanChart pre-tax profit leaps 57%Standard Chartered PLC posted a 57% jump in its first-half pre-tax profit, higher than expected, as the bank benefited from an economic recovery from the coronavirus pandemic.The bank also announced a US$250 million share buyback and resumed interim dividend payments worth US$94 million, or 3 cents per share.Statutory pre-tax profit for StanChart, which focuses on Asia, Africa and the Middle East, rose to US$2.55 billion in January-June from US$1.63 billion in the same period last year, the London-headquartered bank said in a stock exchange filing.The latest profit compared with the US$2.23 billion average of analyst estimates compiled by Standard Chartered. -Nampa/ReutersBP boosts pay-outs after profit jumpBP boosted its dividend and share buybacks after beating expectations with a US$2.8 billion second-quarter profit powered by higher oil prices and recovering demand.The strong results, underpinned by higher sales at petrol stations, bolster BP's plan to shift away from oil and gas to renewable and low-carbon energy in an effort to battle climate change, CEO Bernard Looney told Reuters."The strengthening of the balance sheet and the excess cash flow allow us to prosecute our agenda around the energy transition," Looney said.Rivals including Royal Dutch Shell, TotalEnergies and Chevron also boosted shareholder returns last week, reflecting a recovery from the pandemic which saw energy demand plummet.BP increased its dividend by 4% to 5.46 cents after it was halved to 5.25 cents in July 2020 for the first time in a decade.BP also plans to repurchase US$1.4 billion in shares in the coming months after generating surplus cash of US$2.4 billion in the first half of the year, it said. -Nampa/ReutersPepsiCo to sell TropicanaPepsiCo Inc unveiled a US$3.3 billion sale of its Tropicana and other juice brands in North America to French private equity firm PAI Partners on Tuesday, as it looks to simplify its product range and move away from high-sugar drinks.The company, which bought the orange juice maker in 1998 for roughly US$3.3 billion and US-based Naked Juice nearly a decade later for US$150 million, will keep a 39% stake in the new joint venture and have exclusive US distribution rights for the brands.The sale will give PepsiCo the funds to develop and grow its portfolio of health-focused snacks and zero-calorie beverages, Chief Executive Officer Ramon Laguarta said, as the company focuses on more profitable brands.Rival Coca-Cola Co has also been streamlining its product range over the past year, discontinuing its TaB diet soda and Coca-Cola Energy brands in the United States and selling its ZICO coconut water brand."Companies are finding it difficult to provide effective marketing support behind an infinite number of brands that often compete for very similar occasions," Rabobank Food and Beverage analyst Stephen Rannekleiv said in May. -Nampa/Reuters

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