• China’s industrial earnings slump is deepening amid weak demand and high costs

    China Jan-Feb Industrial Profit -22.9% y/y vs -4.0% for 2022 Recovery far from solid, demand and cost issues persist BEIJING, March 27 (Reuters) – The slump in earnings for Chinese industrial companies deepened in the first two months of 2023, weighed down by weak demand and stubbornly high costs as the world’s second-largest economy struggled […]

  • Bank stocks are falling again as turmoil in the SVB market continues

    LONDON/SINGAPORE, March 13 (Reuters) – Bank stocks in Europe and Asia plummeted Monday as the United States bailed out deposits from collapsed tech-focused lender Silicon Valley Bank, failing to reassure investors that other banks remain financially sound. The European STOXX banking index (.SX7P) fell 4.3%, after losing 3.78% on Friday, putting it on track for […]

  • Goldman expects $2.3 billion more in potential litigation losses

    Feb 24 (Reuters) – Goldman Sachs Group Inc (GS.N) expects to incur $2.3 billion more in potential losses from litigation than the reserves it had set aside for such matters last year, a filing from the filing of the investment bank on Friday. That was in line with what the bank had estimated at the […]

  • Exclusive: US Sanctions Authority Investigates Raiffeisen on Russia

    FRANKFURT/VIENNA, Feb. 17 (Reuters) – The United States sanctions authority has launched an investigation into Raiffeisen Bank International (RBIV.VI) over its activities related to Russia, leading the Austrian lender, which plays a crucial role in the Russian economy. In response to questions from Reuters, the bank said it received a request in January from the […]