Deutsche Bank has exceeded expectations with a 10% increase in first-quarter profit, reporting a net profit of 1.275 billion euros ($1.365 billion). This marks the bank’s highest first-quarter profit since 2013 and its 15th consecutive quarterly profit. Group revenue also saw a 1% year-on-year increase to 7.8 billion euros, driven by growth in commissions and
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Walgreens recently announced a new initiative to directly collaborate with drug manufacturers in bringing cell and gene therapies to patients in the United States. The company revealed plans to set up a new business unit solely focused on expanding its specialty pharmacy services. This move signifies Walgreens’ commitment to catering to the rising demand for
SK Hynix, a prominent memory chipmaker based in South Korea, recently announced a net profit of 1.92 trillion South Korean won in the first quarter of the year. This marked a significant turnaround compared to the 2.58 trillion won loss reported during the same period last year. The positive income recorded by SK Hynix in
The recent ruling by a Russian court in favor of state-run lender VTB Bank against American lender JPMorgan Chase has raised concerns about the impact of geopolitical tensions on financial institutions. The court ordered the seizure of funds in JPMorgan’s Russian accounts and assets, including the bank’s stake in a Russian subsidiary. This decision comes
Employee Stock Purchase Plans (ESPPs) can be a valuable benefit for employees working for publicly traded companies. According to a survey conducted in 2021, around half of public companies offered ESPPs to their employees. Financial experts emphasize the importance of understanding the rules and risks associated with participating in an ESPP before making a decision.
Starbucks and the union representing its baristas have decided to resume contract negotiations after an extended period of stalemate. This development comes following their previous announcement in February about finding a “constructive path forward” during mediation discussions. This marks a significant shift for Starbucks, which had been embroiled in a two-year battle against Workers United
Ford Motor is set to reveal its first-quarter earnings after the markets close on Wednesday. Analysts on Wall Street have put forward their expectations for the company’s performance during this period. The consensus estimates suggest earnings per share of 42 cents, adjusted, with automotive revenue reaching $40.10 billion. These figures reflect a 2.6% increase in
Last week, mortgage rates experienced a third consecutive increase, reaching the highest level since November. Consequently, mortgage application demand suffered a 2.7% decline compared to the previous week, according to the Mortgage Bankers Association’s index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances also rose to 7.24% from 7.13%, with
Kering, a French luxury group, experienced a significant setback as its shares plummeted more than 9% in early trading on Wednesday. This decline was a result of the company’s warning about an expected sharp downturn in first-half profits, primarily due to dwindling demand for its flagship brand, Gucci. The group projected a 40% to 45%
U.S. prosecutors are pushing for a sentence of 36 months for the former CEO of Binance, a cryptocurrency exchange, on charges related to enabling money laundering. This recommended sentence is significantly higher than the advisory guidelines, which suggest a range of 12 to 18 months in prison. The prosecutors argue that a 36-month sentence would