HSBC Holdings PLC on Tuesday warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.
Bayer on Tuesday faces its second annual investor reckoning over its handling of a wave of U.S. lawsuits claiming its glyphosate-based weedkillers cause cancer.
Swiss drugmaker Novartis reported rising first-quarter sales and profit that beat analyst expectations and confirmed its 2020 targets as the coronavirus pandemic prompted patients to stock up on their prescriptions in advance.
Germany has agreed to help airline Lufthansa with a rescue package worth about 9 billion euros ($9.74 billion) in return for a blocking minority and one or two supervisory board mandates, Business Insider cited company sources as saying.
Swiss drugmaker Novartis reported rising first-quarter sales and profit that beat analyst expectations and confirmed its 2020 targets as the coronavirus pandemic prompted patients to stock up on their prescriptions in advance. “COVID-19 did result in increased forward purchasing by customers, including at the patient level, as some patients filled prescriptions to cover a longer period of time,” Novartis said on Tuesday. The Basel-based company at this time still expects revenue to grow at a mid- to high-single-digit percentage rate, with core operating profit growth even faster at a high-single to low-double-digit rate. …read more […]
HSBC Holdings PLC’s on Tuesday warned of more earnings pain to come after first-quarter profit nearly halved as it boosted provisions against bad loans expected to rise amid the coronavirus pandemic.
The Federal Reserve has two core jobs assigned by Congress: Foster maximum employment and stable prices.
“This is an important agreement for the future of connectivity in one of the world’s largest telecoms markets and solidifies our position in India,” Nokia Chief Executive Officer Rajeev Suri said in a statement. Nokia said the Indian firm’s rollout, which will also lay the foundation for providing 5G connectivity in the future, will see some 300,000 radio network units deployed across nine circles in India, but did not give any financial details of the deal. Nokia said the deal includes Nokia’s Single Radio Access Network solution, AirScale Radio Access, Baseband, related Services, and it will be completed …read more […]
The world’s largest wealth manager, UBS, reported a 40% increase in first-quarter net profit on Tuesday, as clients upped trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clients. The bank had previously said it expected to report first-quarter net profit of around $1.5 billion, with strong operating performance across all its business divisions, even after accounting for the risk of higher defaults as a result of the virus. It reported net profit of $1.595 billion on Tuesday. …read more […]
The world’s largest wealth manager, UBS , reported a 40% increase in first-quarter net profit on Tuesday, as clients upped trading activity during market turmoil sparked by the coronavirus outbreak and as it extended more loans to its wealthy clients.
HSBC Holdings PLC’s first-quarter profit nearly halved from a year-ago, missing estimates, after boosting provisions against bad loans as the coronavirus pandemic hits borrowers worldwide.
(Bloomberg) — U.S. stocks may be able to look through a dismal earnings season or two, and the deepest economic contraction in modern history, according to analysis by Goldman Sachs Group Inc.That’s based on historical analysis that suggests equities price in macroeconomic performance over a two-year horizon. As long as projections are — as they indeed are now — for the economy to rebound after the current and coming period of pain, then stocks don’t need to fall, the Wall Street bank concluded.“Investors usually discount at least the next two years of macroeconomic performance, suggesting markets may continue to look …read more […]
(Bloomberg) — Gold fell for a third day as a drumbeat of moves toward reopening economies plus gains in stocks eroded appetite for havens, with prices sinking below $1,700 an ounce ahead of policy announcements from two of the world’s leading central banks.The precious metal eased after U.S. equities hit the highest in almost seven weeks as states including Florida took steps toward easing restrictions. Italy, one of the countries hit hardest, prepared to begin reopening, although the World Health Organization warned the coronavirus pandemic is far from over.While bullion is still near the highest in more than seven years …read more […]
Major U.S. wireless firms said on Monday they will extend a commitment through June 30 not to cancel service or charge late fees to customers who have been impacted by the coronavirus pandemic.
Asian shares and U.S. stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions seen globally.
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