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Category: Financial News

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U.S., Chinese trade deputies face off in Washington amid deep differences

Reuters WASHINGTON (Reuters) – U.S. and Chinese deputy trade negotiators were set to resume face-to-face talks for the first time in nearly two months on Thursday, as the world’s two largest economies try to bridge deep policy differences and find a way out of a bitter and protracted trade war. READ MORE

ECB Launches Major Stimulus Package, Cuts Key Rate

ByTom FairlessUpdated Sept. 12, 2019 8:47 am ET FRANKFURT—The European Central Bank cut its key interest rate and launched a sweeping package of bond purchases Thursday that commits the bank to ultraloose monetary policy for a long period, jolting European financial markets and triggering an immediate response from President Trump. The ECB’s pre-emptive move was…
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BlackRock profit results fall short of expectations, assets fall back below $6 trillion

Source: CNBC BlackRock, the largest asset manager in the world, reported quarterly earnings that missed analysts’ expectations on Wednesday as a market downturn late last year eroded its asset base. Revenue slightly exceeded a revised estimate by Refinitiv. Earnings for the asset manager fell nearly 60 percent to $927 million over the past year. On…
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Goldman Sachs, Bank Of America Shares Jump As Earnings Beat

Source: IBD Goldman Sachs (GS) and Bank of America (BAC) beat Q4 forecasts Wednesday after JPMorgan Chase (JPM) and Citigroup (C) reported mixed results. Goldman Sachs Earnings Estimates: A 5% dip in Goldman Sachs earnings per share to $5.37. Analysts expect a 1% gain in revenue to $7.9 billion. Results: EPS of $6.04 on revenue of $8.08 billion. Fixed income trading revenue fell 18%…
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Wells Fargo beats fourth quarter profit expectations but slips on revenue

Source: CNBC Wells Fargo beat expectations for fourth quarter profit, reporting $1.21 earnings per share before the market open on Tuesday. But the San Francisco bank fell short of expectations on revenue, reporting $20.98 billion for the quarter, as it reported declines in all three of its main businesses. Shares of Wells Fargo fell 0.8 percent…
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J.P. Morgan misses profit expectations for the first time in 15 quarters

Source: CNBC Under CEO Jamie Dimon, J.P. Morgan has exceeded analysts’ profit expectations for 15 straight quarters — a streak that ended with the fourth quarter of 2018. Choppy markets in December have crimped trading results at J.P. Morgan, just as it did for Citigroup, which reported results Monday. J.P. Morgan also set aside $250…
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Citigroup shares rise after beating quarterly profit expectations on cost-cutting

Source: CNBC Citigroup, the first of the big U.S. banks to report fourth-quarter results, missed revenue estimates by a half-billion dollars as bond trading revenue declined amid a difficult December for markets. The bank made $1.61 per share in profit, excluding one-time impacts of the U.S. tax overhaul, beating analysts’ expectations for $1.55 on better-than-expected…
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German economy posts weakest growth in five years

Source: Reuters BERLIN (Reuters) – The German economy grew by 1.5 percent in 2018, the weakest rate in five years and markedly slower than the previous year, preliminary data showed on Tuesday, in a sign that exporters in Europe’s largest economy are being hit by trade tensions. German companies are struggling with a cooling of…
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Monte dei Paschi shares suspended after plunging on ECB warning

Source: Reuters MILAN (Reuters) – Shares in Monte dei Paschi di Siena (BMPS.MI) were suspended on Monday after sliding by 8.5 percent on news of a stark European Central Bank warning for the Italian bank. The ECB had flagged funding and profitability risks as well as a weakened capital position in a letter to Monte…
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