JPMorgan Chase & Co, the largest US bank, increased its net profit in Q4 2018 by 67%. A year earlier, the profit was $4.232 billion, at the end of last year it grew to $7.066 billion. The bank's revenue grew by 4.1%. Despite the strong performance, the bank did not meet market expectations. Analysts had expected a profit of $2.2 per share instead of the current $1.98. The interest income of the bank grew by 9% over this period, non-interest - dropped by 1%. JPMorgan’s loss reserves also increased by $240 million and reached $1.5 billion. The bank's capitalization for the year decreased by 10%.
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 ...