Bank of America overcame a slower US economy, lower interest rates, and uneven markets to deliver better than expected profits in the third quarter of this year led by very strong investment banking fees performance.
UK inflation in September remained at its lowest level since late 2016, according to official data, providing continued support to consumer spending power as Brexit uncertainty clouds the economic outlook.
Latitude Financial has abandoned a second attempt at an initial public offering due to concerns that shares in Australia’s largest non-bank lender would tumble on debut, scuppering what was set to be the country’s largest listing this year.
EU regulators are expected to announce on Wednesday interim measures to force Broadcom to suspend alleged anti-competitive behaviour while it is being investigated, in the latest sign of a clampdown against big US tech companies.
Royal Mail is facing the threat of national strikes in the run-up to Christmas after postal workers overwhelmingly backed industrial action in a dispute over conditions, job security and alleged bullying.
Revenue growth remains scarce at Citigroup, but a strong third quarter performance in its credit-card business, and resilience in its investment banking operation, kept the bank’s financial targets within reach.
Naturgy, a Spanish utility, and Sonatrach, Algeria’s state-owned oil and gas company, have agreed to buy Abu Dhabi sovereign wealth fund Mubadala’s just over 42 per cent stake in the Medgaz gas pipeline between Algeria and Spain.
Investor sentiment about the German economy declined less than expected in October, while remaining subdued over worries about the US-China trade war and the potential for a disruptive Brexit at the end of this month.
Thomas Cook’s chief executive said the failure of the UK government to back a last-ditch rescue deal led to the travel company’s collapse as he described having no contact with ministers in the days leading up to its liquidation.
The UK’s major lenders would be able to cope with being shut out of currency markets for up to three weeks if Brexit developments trigger big swings in the value of the pound, according to the Bank of England governor.