The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth.
Swedish lender Swedbank (SWEDa.ST) reported a smaller-than-expected net profit for the second quarter on Tuesday, as higher costs and lower trading gains took some of the shine off rising income from mortgages on the back of higher interest rates.
The British arm of Spanish lender Santander (SAN.MC) said on Tuesday it would award a 4% pay rise to around 11,000 UK-based employees to help with the rising cost of living, as inflation cripples household budgets across Britain and beyond.
Americans’ financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and ate into savings for the first time since the pandemic, U.S. bank executives said.
HSBC Holdings Plc (HSBA.L) is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said.
U.S. bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
Global equity funds faced a third straight week of outflows in the week to July 12 on concerns over the prospect of further central bank interest rate hikes and the health of economies worldwide.
BlackRock Inc (BLK.N) posted a bigger-than-expected fall in quarterly profit on Friday as the turmoil in the global markets shrank the world’s largest asset manager’s fee income.
World stocks attempted a move higher on Friday after four days of losses caused by mounting fears of economic downturn, even though the growth concerns were fanned further by data showing a sharp slowdown in China.
Taiwan’s TSMC (2330.TW) forecast revenue growth that could be the highest in 10 quarters, saying it was “highly confident” about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles.
The European Central Bank will raise interest rates for the first time in 11 years on Thursday with a bigger-than-flagged move seen as increasingly likely as policymakers fear losing control of runaway consumer price growth.
Swedish lender Swedbank (SWEDa.ST) reported a smaller-than-expected net profit for the second quarter on Tuesday, as higher costs and lower trading gains took some of the shine off rising income from mortgages on the back of higher interest rates.
The British arm of Spanish lender Santander (SAN.MC) said on Tuesday it would award a 4% pay rise to around 11,000 UK-based employees to help with the rising cost of living, as inflation cripples household budgets across Britain and beyond.
Americans’ financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and ate into savings for the first time since the pandemic, U.S. bank executives said.
HSBC Holdings Plc (HSBA.L) is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said.
U.S. bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
Global equity funds faced a third straight week of outflows in the week to July 12 on concerns over the prospect of further central bank interest rate hikes and the health of economies worldwide.
BlackRock Inc (BLK.N) posted a bigger-than-expected fall in quarterly profit on Friday as the turmoil in the global markets shrank the world’s largest asset manager’s fee income.
World stocks attempted a move higher on Friday after four days of losses caused by mounting fears of economic downturn, even though the growth concerns were fanned further by data showing a sharp slowdown in China.
Taiwan’s TSMC (2330.TW) forecast revenue growth that could be the highest in 10 quarters, saying it was “highly confident” about its long-term prospects and touted demand for high-tech chips used in data centres and electric vehicles.
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