One of the largest US banks, Citigroup, reported that in the first quarter, its net profit amounted to 4 billion 710 million dollars, having increased by 2% compared to the same period last year. Profit per share amounted to 1 dollar 87 cents against the experts' forecast of 1 dollar 80 cents per share. Its value increased by 11% due to a 9% reduction in the average number of shares in circulation. During the earnings period, the bank bought 66 million of its own shares. Revenues amounted to 18 billion 576 million dollars, a decline in annual terms by 2%. The institutional client business has reduced revenue by 2%. The bank's income from operations with shares fell by 24%. At the same time, in the field of fixed income asset trading, revenue grew by 1%, while investment banking services showed an annual growth of 20%.
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 ...
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 ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...