Greece’s primary surplus is likely to rise to 3.9 percent of GDP, beating a target of 3.5 percent, next year when the country is to exit the latest euro zone bailout programme and return to market financing, the European Commission forecast on Thursday. In a regular forecast for all European Union economies, the Commission said […]
Read morePresident Donald Trump and his Russian counterpart Vladimir Putin will likely meet on the sidelines of an economic summit in Vietnam Friday, according to a Kremlin spokesperson. “Right now the time of the meeting is being agreed,” presidential aide, Yuri Ushakov, told reporters Thursday, according to Russian news agencies. Trump and Putin are both expected […]
Read moreGerman sportswear firm Adidas posted another strong quarter of sales and profit growth Thursday, driven by expansion in China and North America, where it has been taking market share from archrival Nike. Here are the key third-quarter metrics: Net profit: 526 million euros ($610 million) vs. 512 million euros expected, according to Thomson Reuters Sales: […]
Read moreDeutsche Post DHL Group confirmed its earnings target for 2017, saying it expected a strong Christmas period, as it reported a 10.5 percent rise in third-quarter profit on Thursday. The company reported earnings before interest and tax (EBIT) of 834 million euros ($968 million), against analyst expectations for 841 million in a Reuters poll. It […]
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Commerzbank swings to net profit in third quarter despite weak markets
Commerzbank swung to a net profit in the third quarter despite weak markets as the German lender focuses on a major overhaul. The 472 million euro ($547.7 million) net profit at Germany’s second-largest lender after Deutsche Bank was broadly in line with analysts’ expectations for a profit of 477 million euros, according to a Reuters […]
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Siemens set to complete work for health unit IPO by March 2018, CEO says
Siemens is set to conclude internal preparations to sell its health care unit by the end of March of next year, the chief executive officer told CNBC Thursday. “We have a fascinating health care business,” Joe Kaeser, CEO Siemens told CNBC, “and are going to float the business … because we do believe this is […]
Read moreEuropean stocks are expected to open lower Thursday morning, as investors monitored a slew of corporate earnings. Looking to the major bourses, the U.K.’s FTSE 100 is expected to open 7 points lower at 7,511, while the German DAX is set to start on a negative note, down 16 points at 13,377, and the French […]
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APPLICATIONS sought for leading Wall Street post. Perks: lovely office in Italianate palace; large staff. Duties: important role in setting interest rates (some vaguely defined other responsibilities). Requirements: eligibility for highest-level security clearance; tacit support in Washington, DC. Desirable but optional: broad knowledge of banking. This week the New York Federal Reserve Bank announced that […]
Read moreThe House Republican tax plan may have a deficit problem. The GOP bill including a recent amendment would increase federal budget deficits by $1.7 trillion over 10 years, according to Joint Committee on Taxation estimates shared by the nonpartisan Congressional Budget Office. That includes money for additional debt service payments due to the bill. Under […]
Read moreInvestor confidence soared after the 2016 election of Donald J. Trump, sending the U.S. stock market on a tear that would last a full year. It also made housing more expensive. That is because when the stock market rallies, the bond market usually sells off, and bond yields rise. Mortgage rates loosely follow the yield […]
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