Citigroup profit beats on strength in consumer banking, equity trading
(Reuters) – Citigroup Inc reported a higher-than-expected quarterly profit on Friday, driven by strength in its consumer banking business and a surge in equities trading.
Volkswagen’s new CEO asserts authority as sets out on road to reform
WOLFSBURG/BERLIN, Germany (Reuters) – Volkswagen’s new Chief Executive Herbert Diess embarked on the most far-reaching shake-up in the carmaker’s history on Friday, seeking to unite a company whose feuding factions have often slowed reform.
Aramco is world’s most profitable oil company: Bloomberg
LONDON (Reuters) – Saudi Aramco is the world’s most profitable oil company, Bloomberg reported on Friday, but its huge earnings and cash flows may still fail to justify its desired $2 trillion valuation.
Wells Fargo faces $1 billion fine to settle loan abuses
(Reuters) – Wells Fargo & Co has been offered a penalty of $1 billion by regulators to resolve outstanding investigations related to auto insurance and mortgage lending abuses, the third-largest U.S. bank by assets said on Friday.
JPMorgan profit just below forecast on weak investment banking
(Reuters) – JPMorgan Chase & Co’s quarterly profit fell short of Wall Street expectations on Friday as lower revenue from investment banking ate into gains from U.S. corporate tax changes and higher interest rates.
JPMorgan profit jumps 35 percent
(Reuters) – JPMorgan Chase & Co , the biggest U.S. bank by assets, reported a 35 percent surge in quarterly profit on Friday, helped by higher interest rates for loans and lower taxes.
Goldman’s Schwimmer to steer London Stock Exchange through Brexit
LONDON (Reuters) – The London Stock Exchange named Goldman Sachs’ veteran David Schwimmer as chief executive officer on Friday, with an initial challenge of helping the 300-year-old institution to navigate Brexit.
Volkswagen’s new CEO says to consider asset sales
WOLFSBURG, Germany (Reuters) – Volkswagen’s new Chief Executive Herbert Diess on Friday said he will consider asset sales and seeks to turn the multi-brand conglomerate into a slimmed down company with strong brands.
Singapore watchdog sets interim measures for Uber-Grab deal
SINGAPORE (Reuters) – Singapore’s competition watchdog on Friday outlined a set of interim measures for ride-hailing firms Grab and Uber Technologies to ensure an open market as it continued its investigation into their merger in the city-state.
GM sticks to April 20 deadline for Korea restructuring, unit logs $1 billion loss
DETROIT/SEOUL (Reuters) – General Motors Co’s president said common ground must be reached on a long-term financial restructuring of GM’s South Korean auto unit by next Friday and if there was none, the operation would likely seek bankruptcy protectio…
