The leader of the mortgage market and the second largest bank in the US, Wells Fargo, following the results of the first quarter, reported on the growth of net profit by 5.4% in annual terms to $5 billion 936 million. The bank's revenue decreased by 1.4% and amounted to 21 billion 934 million dollars. Analysts had expected the figure at the level of 21 billion 710 million dollars. Net interest margin remained at around 2.84%. The fewer working days in the first quarter affected net interest income of the bank, which in annual terms decreased by 1% to 12.2 billion dollars. The efficiency factor was 64.9% compared to 62% a year earlier.
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 ...