Business & Finance News
Citigroup Inc reported a better-than-expected quarterly profit on Friday, helped by higher bond trading revenue and strength in its consumer banking business in Mexico.
JPMorgan Chase & Co reported a better-than-expected quarterly profit on Friday as gains from higher interest rates and growth in loans helped the bank offset weakness in bond trading revenue.
Wells Fargo & Co posted a quarterly profit that fell short of analysts’ estimates on Friday, as a $13 billion drop in new mortgage borrowing offset the bank’s efforts to cut costs.
Royal Bank of Scotland paid its first dividend since a 2008 British government bailout on Friday, rewarding around 190,000 shareholders with a 2 pence per share payout.
Citigroup Inc reported a 12 percent increase in quarterly profit on Friday, as the bank benefited from lower expenses and consumer banking business in Latin America.
Shares worldwide were set for their biggest daily gains in nearly a month on Friday as European and Asian markets recovered from a days-long sell-off that left them set for their worst week since February.
JPMorgan Chase & Co reported higher-than-expected quarterly profit on Friday as gains from higher interest rates and a growth in loans helped the bank offset weakness in bond trading revenue.
The city of Pittsburgh, the one-time steel capital that’s long been a symbol of Rust-Belt decline, is emerging as a vibrant hub for artificial intelligence, robotics and biomedical companies eager to tap a rich talent pool.
SoftBank Group Corp has chosen five investment banks, including units of Nomura Holdings Inc and Goldman Sachs, as lead underwriters for the mammoth initial public offering of its mobile-phone unit, a person with direct knowledge of the matter said on Friday.
China’s car sales fell the most in nearly seven years in September, stoking concerns the world’s biggest auto market could contract for the first time in decades this year amid cooling economic growth and a biting trade war.
Britain’s Royal Bank of Scotland on Friday paid its first dividend in a decade, returning 2 pence per share to around 190,000 shareholders who haven’t seen a payout since RBS’s government bailout in 2008.
Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China’s largest trade fair Monday.
UBS Group AG may have moved a step closer towards becoming the first foreign bank to hold majority ownership of its Chinese investment banking operations, after two of its joint venture partners said they had put their stakes up for sale.
The government welcomes German automakers’ moves towards making concrete offers of discount trade-ins to owners of older, dirtier diesel vehicles, adding that these latest moves had been precisely what Chancellor Angela Merkel had been expecting.
Electric carmaker Tesla Inc said http://bit.ly/2NCbs1r orders for cars placed by Oct. 15 will be eligible for a full federal tax credit of $7,500 and these customers will get their cars delivered by the end of the year.
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