Citigroup profit beats on higher bond trading, LatAm growth
Citigroup Inc reported a better-than-expected quarterly profit on Friday, helped by higher bond trading revenue and strength in its consumer banking business in Mexico.
Wells Fargo quarterly profit falls short of estimates
Wells Fargo & Co posted a quarterly profit that fell short of analysts’ estimates on Friday, as a $13 billion drop in new mortgage borrowing offset the bank’s efforts to cut costs.
Britain’s recovering RBS delivers first dividend in a decade
Royal Bank of Scotland paid its first dividend since a 2008 British government bailout on Friday, rewarding around 190,000 shareholders with a 2 pence per share payout.
Resurgent shares still set for biggest weekly loss since Feb
Shares worldwide were set for their biggest daily gains in nearly a month on Friday as European and Asian markets recovered from a days-long sell-off that left them set for their worst week since February.
BMW says trade war could hit 2019 results by up to 500 million euros
German carmaker BMW expects a hit to earnings of up to half a billion euros ($579 million) next year if tariffs between the United States and China remain in place, Chief Financial Officer Nicolas Peter told Automobilwoche magazine.
SoftBank picks Nomura, Goldman, three others to lead mobile unit’s IPO: source
SoftBank Group Corp has chosen five investment banks, including units of Nomura Holdings Inc and Goldman Sachs, as lead underwriters for the mammoth initial public offering of its mobile-phone unit, a person with direct knowledge of the matter said on …
A tech boom in Pittsburgh brings hope and angst
The city of Pittsburgh, the one-time steel capital that’s long been a symbol of Rust-Belt decline, is emerging as a vibrant hub for artificial intelligence, robotics and biomedical companies eager to tap a rich talent pool.
Britain’s RBS pays first dividend in decade
Britain’s Royal Bank of Scotland on Friday paid its first dividend in a decade, returning 2 pence per share to around 190,000 shareholders who haven’t seen a payout since RBS’s government bailout in 2008.
China auto sales post biggest drop in 7 years as growth engine stalls
China’s car sales fell the most in nearly seven years in September, stoking concerns the world’s biggest auto market could contract for the first time in decades this year amid cooling economic growth and a biting trade war.
Unwelcome guest: U.S. tariffs loom at China’s biggest trade fair
Amid gathering gloom over the state of the Chinese economy, exporters of motorcycles, tractors, photocopiers and Christmas tree lighting will join thousands of other companies peddling their wares at China’s largest trade fair Monday.
