The largest bank in Europe, HSBC Holdings, following the results of 2018, reported the growth of all indicators. Net income in the amount of 12 billion 610 million dollars showed an increase over the year by 30%. Profit before taxes increased by 16% to 19 billion 890 million dollars, not reaching expert estimates of 21 billion 410 million dollars. Revenue reached 53 billion 780 million dollars, an increase of 5%. The retail banking and wealth management division increased adjusted earnings by 9%. The profits of global banking and market solutions grew by 4%, while Private Banking increased profits by 16%.
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 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...