Economic
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U.S. regulators fine Piper Sandler $16 mln for record-keeping failures
Piper Sandler (PIPR.N), opens new tab has agreed to pay a total of $16 million as a civil penalty to U.S. regulators to resolve investigations into its record-keeping practices, the investment banking firm said on Tuesday. The firm will pay $14 million to the U.S. Securities and Exchange Commission (SEC) and $2 million to the Commodity Futures […]
Italy’s Banco BPM hikes 2024 EPS and remuneration outlook
Banco BPM (BAMI.MI), opens new tab on Tuesday raised its earnings and shareholder remuneration guidance for the year, after joining peers in posting higher-than-expected second quarter earnings. Italy’s third-largest bank said it expected earnings per share (EPS) of 95 euro cents in 2024 raising an earlier EPS forecast of 90 euro cents. It plans to pay an […]
Popolare di Sondrio Q2 net interest income climbs to 271 million euros
Italian lender Banca Popolare di Sondrio (BPSO) (BPSI.MI), opens new tab on Tuesday posted second-quarter net interest income of 271 million euros ($295.85 million), up from 235.3 million euros a year earlier on higher contributions from brokerage and coupon flows. BPSO’s second-quarter net profit came in at 118.3 million euros against 112.7 million euros a year earlier. […]
Robinhood’s second quarter to benefit from meme stock revival, crypto trading
Wall Street expects Robinhood’s (HOOD.O), opens new tab revenue to hit record highs in the second quarter as retail investors flock to its commission-free app to trade so-called ‘meme stocks’ and cryptocurrencies. The return of influencer Keith Gill, known online as “Roaring Kitty”, rekindled investor appetite for retail favorites like GameStop (GME.N), opens new tab, luring mom-and-pop investors […]
Aramco profit dips 3%, keeps $31.1 bln dividend unchanged
Oil giant Saudi Aramco (2222.SE), opens new tab on Tuesday reported a 3.4% fall in second-quarter profit on lower crude volumes and softer refining margins, yet kept its generous dividend policy unchanged, with $31.1 billion in payouts for the quarter. Aramco posted second-quarter net income of 109.01 billion riyals ($29.03 billion) in the three months to June […]
Abrdn profit beats forecasts,
Abrdn (ABDN.L), opens new tab reported better-than-expected profit and lower costs for the first half of the year on Tuesday, helping lift the asset manager’ shares 5% in early trading. The embattled British company provided no update on its leadership amid some speculation interim boss Jason Windsor would be appointed CEO and tasked with the role of […]
US banks report best loan demand in 2 years, Fed survey shows
U.S. banks reported unchanged demand for commercial and industrial loans in the second quarter, the first time in two years that demand did not weaken, a Federal Reserve survey of senior loan officers published on Monday showed. Fed officials had the survey results in hand last week when they left the U.S. central bank’s policy […]
US bank stocks tumble; weak economic data sparks recession fears
U.S. bank stocks slumped on Monday as fears of a recession sent investors fleeing from a sector closely tied to the health of the economy and toward safe-haven assets. The S&P 500 Banks Index (.SPXBK), opens new tab, tracking a basket of large-cap bank stocks, closed down 2.4%, while the KBW Regional Banking Index (.KRX), opens new […]
Barclays announces $960 mln buyback, lifts outlook as investment bank shines
Barclays (BARC.L), opens new tab announced a new 750 million pound ($957 million)share buyback and upgraded its longer term earnings guidance on Thursday, driven in part by an upswing in trading income that offset a 9% profit fall over the first half of 2024. The British bank now expects to make a return on tangible equity (ROTE) […]
UniCredit says it faces second court case in Russia over guarantee payments
UniCredit (CRDI.MI), opens new tab faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed on Moscow after it invaded Ukraine in early 2022, it said in its half-year report. UniCredit controls Russia’s 15th largest bank by assets and is embroiled in another […]
