Swedbank beat third-quarter operating profit expectations on Tuesday and brushed off concerns that the Swedish housing market could be set for a significant correction. Operating profit rose to 6.19 billion Swedish crowns ($755 million), helped by higher lending volumes in the bank’s home markets. That topped a mean forecast of 5.87 billion in a Reuters […]
Read moreNovartis‘s third-quarter core net income rose 4 percent at constant currencies, beating expectations, as the drugmaker said it had made “significant progress” in preparing its Alcon eyecare unit for a possible spinoff by the first half of 2019. Core net income rose to $3.02 billion, compared to the average analyst estimate of $2.93 billion in […]
Read moreBitcoin has taken flack from financial luminaries in recent weeks, but their skepticism did little to stop the most popular cryptocurrency from setting a new record high over the weekend. One market observer told CNBC on Tuesday that at the rate the price of bitcoin was moving, its market capitalization could overtake Apple within five […]
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UBER has had a tough year. It has fired staff on the back of sexual-harassment allegations and faced reports of a hostile workplace culture. It has been sued for allegedly stealing self-driving-car technology. It lost customers when it flouted a New York taxi boycott in protest of President Donald Trump’s travel ban. And, amid all […]
Read moreThe shift from taxis to ride-sharing companies may have hit a tipping point in New York City, while Lyft continues to show impressive growth. A new report by the business travel expense firm Certify shows Lyft is gaining on both taxis and Uber. The percentage of business travel receipts for Lyft rides in the third […]
Read moreThe City of London must remain the top global financial centre after Brexit to avoid its financial services drifting to other parts of the world, Luxembourg Finance Minister Pierre Gramegna said on Monday. Financial centres such as Luxembourg, Paris and Frankfurt are battling each other to attract banks, insurers and asset managers in Britain who […]
Read moreJapanese authorities are conducting safety checks at a Kobe Steel Ltd aluminum plant that supplied components for a domestically built passenger aircraft, the transport minister said on Tuesday. Kobe Steel’s revelations of widespread tampering in the specifications of its products have sent a chill through global supply chains for cars, trains, airplanes and other equipment. […]
Read moreCurrency, United States Finance
Russia's interest in bitcoin is overestimated, says head of VTB International
Russia’s appetite for bitcoin has been overblown by the media, the head of Russian bank VTB International told CNBC Tuesday. “There was some speculation that there was some buying coming from Russian investors, but more than these reports, as a bank, we have not seen much in terms of flows,” Riccardo Orcel said. It had […]
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Europe markets set to open lower as political uncertainty weighs; earnings
European markets were expected to open lower Tuesday morning, as investors continued to monitor the latest corporate earnings reports and kept a close eye on Spain’s constitutional crisis. Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 12 points lower at 7,510, while the German DAX is set to start on […]
Read moreChina’s finance minister said the country’s 2017 fiscal deficit will be less than the budget deficit target of 3 percent of GDP due to stronger-than-expected economic growth, South China Morning Post (SCMP) reported on Monday, citing a statement to the newspaper. The minister, Xiao Jie, reiterated that China’s switch to a value-added tax (VAT) system […]
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