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French bank Societe Generale, following the results of the first quarter, reported the fall in net profit by 26% to 631 million euros, which, however, surpassed the figure predicted by economists in 558 million euros. Revenue at 6.19 billion euros was also higher than economists estimate of 6.16 billion euros. Over the year, it increased by 1.6%. The global banking and investor solutions division recorded a decline in operating profit of 21.6% and revenue growth of 1.1%. At the end of the quarter, the bank reduced revenue from operations with fixed-income assets, foreign exchange and commodity operations by 15.9%. Revenues from stock and premium services fell 5.3%. A significant drop in profits - by 14.7% - was shown by the retail business in France, its revenue declined by 4.6%. At the same time, the Retail Banking division at the international level recorded revenue growth by 4.4% and profit - by 3.5%.
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 ...
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