In the first quarter, the largest in terms of assets bank in the US, JPMorgan, increased its net profit to 8 billion 710 million dollars from 6 billion 450 million dollars a year earlier. Revenues amounted to 28 billion 520 million dollars, increased by 10%. Analysts had expected revenues of $24 billion 750 million. Net interest income in annual terms increased by 9% to 13.5 billion dollars. The retail division of the bank increased its net profit by 15%, its revenue increased 1.5 times. Corporate and investment bank JPMorgan increased revenue by 7% and increased its profit by a quarter in annual terms. The unit's profit in asset management grew 2-fold, revenue increased by 7%. The bank reduced its deductions to the reserves for loan loss by 11%.
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 ...