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Oil holds steady near four-month high on OPEC+ cuts
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Dollar on guard as US inflation test looms
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Cycling-Men’s world championships race interrupted by climate protesters
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Huawei ban would cost German rail operator 400 million eur – Spiegel
Commerzbank shares slump on outlook, despite 20% profit rise
Date: August 4, 2023
Commerzbank shares slump on outlook, despite 20% profit rise By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Commerzbank’s shares sank 5% on Friday, despite a big jump in net profit in the second quarter, after the German lender raised its cost outlook and cut its commission income forecast. The less rosy outlook for net commission...
EnBW sees FY adjusted EBITDA at upper end of forecast range
Date: August 4, 2023
EnBW sees FY adjusted EBITDA at upper end of forecast range BERLIN (Reuters) – German utility EnBW confirmed its full-year outlook on Friday, with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) now expected to be at the upper end of the forecast range of 4.7-5.2 billion euros. The German utility said its half-year...
Germany’s Lanxess calls on government to help chemicals industry
Date: August 4, 2023
Germany’s Lanxess calls on government to help chemicals industry By Linda Pasquini and Antonis Pothitos (Reuters) – Chemicals group Lanxess set out plans to cut costs on Friday and called on German politicians to support the struggling industry after its quarterly profit more than halved. Lanxess, which until recently had managed to pass rising raw...
Credit Agricole beats estimates on insurance, consumer finance
Date: August 4, 2023
Credit Agricole beats estimates on insurance, consumer finance By Mathieu Rosemain PARIS (Reuters) – Credit Agricole SA, France’s second-largest listed bank, reported better-than-expected quarterly earnings on Friday, driven by strong insurance and consumer finance performances. The listed entity of Credit Agricole Group, which is controlled by 39 French mutual banks, also said it had agreed...
WPP lowers full-year forecast as tech clients curb spending
Date: August 4, 2023
WPP lowers full-year forecast as tech clients curb spending LONDON (Reuters) -WPP, the world’s biggest advertising group, downgraded its full-year like-for-like growth forecast to 1.5-3.0% from 3-5% after lower spending from tech clients caused its revenue in North America to decline in the second quarter. Chief Executive Mark Read said the group delivered a “resilient”...
BNP Paribas lowers its Bank of England terminal rate forecast
Date: August 4, 2023
BNP Paribas lowers its Bank of England terminal rate forecast (Reuters) – BNP Paribas on Friday lowered its Bank of England (BoE) terminal rate forecast to 5.50% from a prior estimate of 5.75%. The move comes after BoE raised its key interest rate by a quarter of a percentage point to a 15-year peak of...