Banks
France’s BNP Paribas posts 19% rise in quarterly net profit
French bank BNP Paribas on Tuesday posted a 19.2% rise in net income in the first quarter, helped by a sharp increase in trading activities and said it kept 2025 targets amid the Russia-Ukraine conflict and a worsening economic growth outlook. France’s biggest listed lender said in a statement net profit reached 2.11 billion euros […]
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Op-ed: It’s time for the World Bank to get back to the business of doing business
The World Bank’s “Ease of Doing Business” report tracked and encouraged improvements in the business climate around the world. Then it got canceled. Bloomberg | Bloomberg | Getty Images The following commentary is co-authored by Curtis S. Chin, former U.S. ambassador to the Asian Development Bank and inaugural Asia Fellow of the Milken Institute, and […]
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Goldman Sachs CEO David Solomon says in-person attendance tops 50% after return-to-office push
Goldman Sachs CEO David Solomon’s campaign to summon more of his employees back to the office is a work in progress that could take years, he said. In-person attendance at U.S. offices is between 50% and 60%, down from a pre-Covid figure of roughly 80%, Solomon told CNBC’s David Faber on Monday. That figure is […]
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Here’s how you can prepare if there’s a half point rate hike from the Fed
Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it’s been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that has […]
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Berkshire Hathaway’s annual meeting: Follow all the action as Warren Buffett takes the stage
Berkshire earnings decline in the first quarter Berkshire Hathaway’s first-quarter earnings declined year over year, with the stock market turmoil and weaker insurance results hurting results. The company reported $5.46 billion in earnings, down from $11.71 billion in the year-earlier period for a decline of about 53%. Because of Berkshire’s large investment holdings, earnings can […]
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Cryptocurrency group lobbies Congress against bills that target Russian oligarchs
The cryptocurrency industry has been quietly lobbying U.S. lawmakers against legislation designed to prevent Russian oligarchs from using digital currencies to evade sanctions imposed on Russian President Vladimir Putin’s allies and their companies following Russia’s attack on Ukraine. The Blockchain Association, a lobbying group that represents more than 70 crypto platforms including Ripple, Crypto.com and […]
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Prosecutors search Deutsche Bank HQ in money laundering investigation
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia. Andrey Rudakov | Bloomberg | Getty Images Prosecutors, federal police and other officials searched Deutsche Bank’s headquarters in Frankfurt on Friday in a move Germany’s largest lender said was linked to suspicions of money laundering it […]
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Russia cuts key interest rate to 14%, says inflation could hit 23% this year
Russia’s President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty Images However, with the ruble now returning to pre-war levels, policymakers are turning their attention to recalibrating the economy in an effort to absorb the impact of punitive sanctions from international powers. “The external environment for the Russian economy […]
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Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway amid recession worries
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett has begun to unleash Berkshire Hathaway’s massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes in energy and computer corporations. But his recent moves are more notable for what he has avoided investing in — […]
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ECB dove says rate hike may come during the third quarter
European Central Bank Governing Council member Ignazio Visco has added his voice to heated discussions on when the ECB will begin to raise its benchmark interest rate. Rates in the euro zone have been negative following the region’s sovereign debt crisis, and the ECB has confirmed that it will conclude its net asset purchases in […]
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