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The profit of German creditor Commerzbank before taxes in the first quarter fell by 12% to 289 million euros due to weak markets and increase in bank expenses, although Commerzbank's efforts are aimed at restructuring. Analysts had expected the indicator at the level of 276 million euros. Revenues amounted to 2 billion 300 million euros, it's 3.7% dowm amid competition in Germany and weak demand for capital markets products, despite the increase in the bank's customer base. The growth of the bank's net profit by 9.2% to 250 million euros was facilitated by the positive impact of tax cuts.
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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