BNP Paribas reported a 17 percent fall in net income during the first quarter of the year, highlighting “lackluster” trading activity in Europe. The French bank announced profits of 1.57 billion euros ($1.88 billion) for the first quarter on Friday. This was down from 1.89 billion euros a year ago but was in line with […]
Read moreAs Asian governments invest in automation, many are concerned about a spillover effect on jobs and education. It’s imperative for the region to protect workers, instruct societies about disruptive technologies and harness private sector funds in the process, experts said at a CNBC-hosted debate during the Asian Development Bank’s annual gathering in Manila on Friday. […]
Read moreCurrency, United States Finance
Societe Generale first-quarter results take a hit from low volatility in Europe and new regulation
Societe Generale reported first-quarter net income that beat market expectations on Friday, but the French bank highlighted two major headwinds that led to disappointing revenue numbers across different divisions. It annonced group net profits of 850 million euros ($1 billion), slightly above last year’s performance. Net banking income stood at 6.294 billion euros for its […]
Read moreGlobal growth could pay the price if the U.S. and China keep fighting over trade, warned Paul Gruenwald, chief economist at S&P Global Ratings. “The trade by itself doesn’t really move the needle in terms of the macro. But what we’re worried about is the trade spat drags on … consumers stop spending so much, […]
Read moreEuropean shares are set to open higher Friday as investors monitor trade talks between the U.S. and China and wait for key economic data. The FTSE 100 is seen up by 26 points at 7,529; the DAX is seen higher by 58 points at 12,741; and the CAC 40 is expected to start up by […]
Read moreHSBC, Europe’s largest banks by assets, on Friday reported a 4 percent fall in profit before tax in the first quarter of 2018 as operating costs rose. The bank’s pre-tax profit for the first three months of the year fell to $4.755 billion from the $4.961 billion a year ago. At the same time, operating […]
Read moreWall Street may have had doubts about Apple before the company reported its most recent quarterly earnings, but one of the tech company’s biggest shareholders — Warren Buffett — didn’t. In the first quarter, Buffett’s Berkshire Hathaway bought an astounding 75 million shares of Apple. That adds to the 165.3 million shares Berkshire already owned […]
Read moreGrowth in China’s service sector picked up in April as new business and employment grew at a faster rate, a private survey showed on Friday, signalling a solid rise in a sector that Beijing is counting on to maintain economic growth. The Caixin/Markit services purchasing managers’ index (PMI) climbed to 52.9 in April from March’s […]
Read moreGovernments are attacking civilians in a time of peace. President and Chief Legal Officer Brad Smith of Microsoft in April told the RSA cybersecurity conference about attacks that don’t involve tanks and warplanes, but bytes and bots. And they are aimed at our energy grids, our infrastructure, and even our private financial information. We’ve increasingly […]
Read moreWhen a Google executive found a high-end Bluetooth headset selling at a steep discount on the company’s shopping site earlier this year, he didn’t consider that the deal may have been too good to be true. He ordered the product and waited. And waited. The expected delivery date passed. He tried calling the website’s customer […]
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