Markets

BofA Quarterly Profits Rise 8%, Beating Analysts' Expectation

BofA Quarterly Profits Rise 8%, Beating Analysts' Expectation Net interest income rose 3% from a year earlier but fell about 1.5% from the prior quarter. The biggest USA banks are benefiting from a solid job market, relatively strong economic growth and Federal Reserve interest-rate increases stretching back to late 2015. [Full Article...]

Lotus’ new electric hypercar is the "most powerful auto ever"

Lotus’ new electric hypercar is the The Evija , to be produced at the firm's factory in Hethel, eastern England, will have a limited production run of just 130 cars and will be built from 2020. The battery pack is mid-mounted immediately behind the two seats and supplies energy directly to four powerful e-motors. The batteries, too, will apparently offer industry-leading performance, with a claimed 250-mile range made possible in... [Full Article...]

Sprint says hackers breached customer accounts

Sprint told customers in a letter that the breach occurred on June 22nd and specified that the hack revealed customers' first and last name, billing address, phone number, subscriber ID, account number, device type, device ID, monthly charges, account creation date, upgrade eligibility and any add-on services. [Full Article...]

Wells Fargo posts higher profit on cost controls, rise in loans

Wells Fargo posts higher profit on cost controls, rise in loans Wells Fargo on July 16 reported second-quarter earnings of $6.2 billion, or $1.30 a share. The bank now sees net interest income at about $57.5 billion this year after saying in April it could increase to more than $58 billion. The figure dropped 11 basis points to 2.82% in the most recent quarter. Equity trading was a bright spot for Goldman , however, as revenue increased by 6 per cent, its... [Full Article...]

IMF Managing Director, Christine Lagarde, Explains Why She's Quitting

IMF Managing Director, Christine Lagarde, Explains Why She's Quitting Lagarde's decision to resign comes on the eve of a meeting of the G7 finance ministers in Chantilly, France. The United States holds an effective veto over major Fund decisions, with a 16.52 percent share of its voting power. Traditionally, the post has always been held by a European, while the head of the IMF's sister organisation, the World Bank, has always been an American since the instituti... [Full Article...]

CES 2020 will allow sex tech on a trial basis

CES 2020 will allow sex tech on a trial basis The show was also criticized in 2017 for announcing an all-male lineup of keynote speakers for the second year in a row (two women were added later). The reasons given by the tech organization for its flip-flopping were unconvincing, and CES' announcement today about new rules aimed at increasing diversity and representation at the annual conference are a response to the backlash they received e... [Full Article...]

Singapore's Exports Plunge More Than Forecast as Trade War Hits

Singapore's Exports Plunge More Than Forecast as Trade War Hits This is the feeblest NODX growth pace since February 2013, and the deepest electronics export nosedive since January 2009 amid broad-based weakness, according to the latest research report from OCBC Bank. In particular, 9 of the top 10 NODX markets saw NODX contract in June, with the key exception of the USA at +1.5 percent y/y (the 5th straight month of expansion). [Full Article...]

Johnson & Johnson quarterly profit jumps 41.8%

Johnson & Johnson quarterly profit jumps 41.8% Vanguard Group Inc now owns 213,433,449 shares of the company's stock worth $29,490,100,000 after buying an additional 3,235,861 shares during the last quarter . The company's revenue was up.1% compared to the same quarter past year. As a group, equities research analysts forecast that Johnson & Johnson will post 8.6 EPS for the current year. [Full Article...]


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