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Wells Fargo, the second largest US bank, reported on the results of the first quarter of 2019. During the earnings period, the bank recorded a net profit of $5 billion 860 million, which is 14% more than in the same period a year earlier. Earnings per share amounted to 1 dollar 20 cents, while experts had predicted 1 dollar 11 cents per share. Revenues decreased over the year by 1%, reaching $21 billion 610 million, and also exceeding economists’ forecast of $20 billion 900 million. The bank recorded a net interest income of $12 billion 300 million, its rate increased by 1% over the year. At the same time non-interest income showed a slight decrease to 9 billion 300 million dollars. During this period, the bank reduced the volume of deposits in its accounts by 3% to 1 trillion 260 billion dollars, while the volume of loans issued remained virtually unchanged, amounting to 950 billion 100 million dollars.
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, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
The economy in the European Union will plunge deeper into recession for 2020 and may recover only slightly in 2021 than previously thought, the European Commission predicted on Tuesday. The downbeat assessment of Europe's economy comes as ...
Forex analysts revised their forecasts for the Australian and New Zealand dollars but were left behind the market that has already exceeded the one-year target. Aussie forecasts were raised to $0.6400 in a month, $0.6450 in three months, and ...
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