Barclays reported a worse than expected profit before tax for the third quarter of 1.1 billion pounds ($1.46 billion) as a weak trading performance in its investment bank dragged down group results. The profit figure for the quarter was well below the 1.43 billion pounds average of analysts’ estimates compiled by the bank. Barclays said […]
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Greece is on track to exit its bailout plan but doubts over its future remain
Greece’s bailout program is set to end in August of next year but doubts remain over whether the country will be able to stand on its own feet after the summer. After implementing hundreds of new laws in exchange for financial disbursements from its 86 billion euro ($100 billion) bailout program, Athens is set to […]
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Deutsche Bank earnings: 6.8 billion euros in revenue, vs. 6.84 billion euros expected
German lender Deutsche Bank reported revenues that were largely in line with expectations for the third quarter of 2017, as the bank continued to cite a challenging market and interest rate environment. Here are the key third-quarter metrics: Net income: 649 million euros ($768 million) vs. 281 million euros expected, according to Thomson Reuters Revenue: […]
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European markets seen higher as investors await earnings, ECB meeting
Markets in Europe are set to open higher on Thursday morning as investors digest new earnings reports and wait to hear from European Central Bank (ECB) President Mario Draghi. The FTSE 100 is seen up by 20 points at 7,468; the DAX is seen higher by 35 points at 12,981 and the CAC 40 is […]
Read moreSpanish authorities are leaving separatists in Catalonia no option but to push ahead with declaring independence and proclaiming the region as a new republic, the region’s vice president asserted Wednesday. In an interview with The Associated Press, Vice President Oriol Junqueras said his party — one of two in the separatist coalition now governing Catalonia […]
Read moreThe White House plans to ask the U.S. Congress for a third round of disaster aid in mid-November as the costs continue to pour in for helping rebuild after hurricanes, but Budget Director Mick Mulvaney has told lawmakers he wants to see spending cuts elsewhere. Mulvaney said the federal government is assessing how much it […]
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FOR a moment it seemed China was reverting to Maoist economic management. On the sidelines of the Communist Party congress this month, an official told Xi Jinping that her village distillery sells baijiu, a potent spirit, for 99 yuan ($15) a bottle. Mr Xi, China’s most powerful leader since Mao, remarked that this seemed a […]
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DONALD TRUMP is fond of pointing out that the stockmarket has reached many record highs under his Presidency. It is a capricious measure to boast about, and one that may not fully reflect the concerns of those who voted for him and probably care more about real wage growth. And a look at the ratio […]
Read moreSales of new U.S. single-family homes unexpectedly rose in September, hitting their highest level in nearly 10 years, offering hope that the housing market was regaining speed after appearing to stall in recent months. The Commerce Department said on Wednesday new home sales surged 18.9 percent to a seasonally adjusted annual rate of 667,000 units […]
Read moreA few weeks ago, it looked like interest rates were on their way down again, but that was short-lived. So was the surge in mortgage application volume that went along with it. Interest rates rose last week, and consequently total mortgage application volume fell 4.6 percent from the previous week. The Mortgage Bankers Association’s seasonally […]
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