Deutsche Bank, a prominent financial institution, has recently come under scrutiny for incorrectly disclosing its deferred tax assets in its 2019 financial statement. The German regulator BaFin, which stands for the Federal Financial Supervisory Authority, pointed out that the declarations made by the bank regarding deferred tax assets were incomplete. Specifically, BaFin highlighted that 2.076
Finance
The attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend has sparked condemnation from the leaders of Wall Street’s most powerful firms. JPMorgan Chase CEO Jamie Dimon expressed his sadness towards the political violence and attempt on Trump’s life in a memo to employees. Dimon emphasized the importance of standing
Goldman Sachs announced on Monday that it had surpassed profit and revenue estimates for the second quarter, driven by better-than-expected fixed income results and smaller loan loss provisions. The company reported earnings of $8.62 per share, beating the estimated $8.34 per share. Additionally, revenue came in at $12.73 billion, surpassing the $12.46 billion estimate. The
China’s National Bureau of Statistics recently released data on the country’s economic performance in the second quarter of the year, revealing that the GDP growth rate was lower than expected. The actual growth rate of 4.7% fell short of the 5.1% growth forecasted by a Reuters poll. This discrepancy indicates a potential slowdown in China’s
Wells Fargo recently reported a 9% decrease in net interest income, even though its second-quarter earnings and revenue were higher than Wall Street’s predictions. The bank’s earnings per share were $1.33, surpassing the expected $1.29 cents, while revenue hit $20.69 billion against the anticipated $20.29 billion. However, the San Francisco-based lender only recorded $11.92 billion
JPMorgan Chase CEO Jamie Dimon recently shared his concerns about inflation, highlighting that despite some progress, there are still multiple factors contributing to rising price pressures. Dimon pointed to large fiscal deficits, infrastructure needs, the restructuring of trade, and the remilitarization of the world as key drivers of inflation. This insight sheds light on the
China’s recent data on imports for June showed a significant decline of 2.3% in U.S. dollar terms from a year ago, missing expectations for slight growth. This unexpected decrease has raised concerns among economists and investors about the state of China’s economy. The Reuters poll had forecasted a 2.8% growth in imports, highlighting the disparity
China’s push towards developing robotaxis is garnering attention from consumers, with companies like Baidu’s Apollo Go making strides in the industry. While major Chinese cities are supporting this innovative technology, taxi drivers are growing increasingly worried about losing their jobs due to the rise in competition. The introduction of fully autonomous driving taxi experiences in
Wall Street is abuzz with anticipation as a new wave of cryptocurrency exchange-traded funds is set to hit the market, this time focused on ethereum. The spotlight is on spot ether ETFs, which could be launched as early as this week pending approval from the U.S. Securities and Exchange Commission. Bitwise Asset Management’s chief investment
The U.S. Federal Reserve is considering a cut in interest rates, which could have significant implications for the strength of the U.S. dollar and impact international travels for Americans. It’s well-understood that rising interest rates in the U.S., compared to other nations, can lead to a stronger dollar, making it more favorable for Americans to