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Sergio Ermotti, CEO of UBS, a Swiss bank, speaking at a conference for investors in London, called the first quarter of 2019 one of the most difficult for the bank in recent years. He expects weak financial results for the quarter against the background of minimal activity in the markets of mergers and acquisitions and IPO outside the US. At the end of March, the revenue of the investment bank will decrease by about a third compared to the first quarter of 2018. A decline in the state management is expected at 9%. The low profitability of UBS forces its management to postpone the implementation of some IT projects to a later date, and also to postpone the hiring of new staff.
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 ...
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
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 ...
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