Citigroup Beats Expectations With Second-Quarter Results

Citigroup (C) reported better-than-expected results for the second quarter, with earnings and revenue ahead of Wall Street projections as global consumer banking gained ground. Earnings rose to $1.95 a share from $1.63 a share in the same period of last year, ahead of the Capital IQ consensus for $1.81 a share. Excluding Citi’s gain from its investment in electronic trading […]

by × July 15, 2019 ×

Global Portfolio Risk Report, Wednesday, June 5

Oil producers could face a price slump unless OPEC+Russia cut production again, advised ING, the Dutch-based financial house. But Russia may not go along with more production cuts, setting up a surplus-supply situation. “There seems to be growing resistance from Russian oil producers to extend the current production cut deal through until the end of the year,” said ING. The […]

by × June 5, 2019 ×

Wall Street Sees Another Round of Rally on Fed’s Dovish Tone

US stocks pointed north Wednesday after an upbeat close in the previous session amid optimism that the Federal Reserve remains ready to intervene with rate cuts to support economic growth. On Tuesday, Fed Chair Jerome Powell said that the US central bank was ready to step in and “act as appropriate to sustain expansion.” Oil prices nudged lower with global […]

by × June 5, 2019 ×

Dow, Deinoive Collaborate on New Cosmetic Active Ingredient

Chemicals maker Dow (DOW) and Deinove said pre-market Wednesday they are teaming up to develop a cosmetic ingredient for skin care applications derived from the French biotechnology company’s collection of bacterial extracts. No financial terms were included in the joint statement. Dow has chosen one extract from Denoive’s bacterial bank. Deinove will develop and optimize a dedicated production process and […]

by × June 5, 2019 ×