British bank Barclays reported that in the first quarter it had recorded a net loss of 764 million pounds sterling against a profit of 190 million pounds over the same period last year due to fines imposed by the US authorities. Quarterly revenues amounted to 5 billion 360 million pounds, declining in annual terms by 8%. The pre-tax loss of the bank was 236 million pounds against profit of 1 billion 680 million pounds. Barclays paid a $2 billion fine to solve the problem with the US Justice Department, and reserved £400 million in compensation to customers who had complained that bank employees were selling unwanted insurance to them.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...