News Highlights: Top Equities Stories Of The Day
May 03 2016 - 2:10AM
Dow Jones News
HSBC Earnings Hit by Market Volatility
HSBC said market volatility early in the year dragged on its
ability to generate revenue as it reported a 18.2% decline in
first-quarter net profit.
UBS Profit Hurt by Wealth Management Decline
UBS said its first-quarter net profit fell sharply from the same
period last year, as the Swiss lender's wealth-management business
suffered and its investment bank failed to pick up the slack.
BNP Paribas Profit Up as Loan Provisions Drop
The French bank's profit jumped in the first quarter despite
difficult markets, with lower provisions against bad loans and a
debt revaluation offsetting sharply lower investment banking
revenue.
China Stocks Rise Following President's Backing of 'Healthy Development' of Markets
Chinese shares rose Tuesday as investors gained confidence from
President Xi Jinping's stated support of the "healthy development"
of the country's stock markets.
Commerzbank Outlook in Doubt as Profit Drops
Commerzbank cast further doubt over its full-year outlook as
first-quarter net profit more than halved, with the German bank
battling ultralow interest rates and sluggish activity in capital
markets.
Lufthansa Reports Narrower Operating Loss
Lufthansa it may further cut capacity and restructure its
air-cargo unit to offset lower prices even as the German carrier
posted a narrower first quarter-operating loss, a closely watched
measure of its performance.
Activist Investor to Pressure Stada AG to Explore Potential Sale
A German activist investor has accumulated a 5% stake in Stada
Arzneimittel AG, with a view to potentially pushing a sale of the
generic drugmaker, according to several people familiar with the
matter.
Deutsche Bank North America CEO Jacques Brand to Leave
Deutsche Bank's North American chief executive, Jacques Brand,
is leaving the German lender to join boutique investment bank PJT
Partners.
Statoil Sells Marcellus Assets to EQT for $407 Million
Statoil ASA has agreed to sell some of its assets in the
Marcellus Shale formation in West Virginia to EQT Corp. for $407
million in cash.
Aeropostale Preparing to File for Bankruptcy
Aeropostale is preparing to file for bankruptcy protection this
week and close more than 100 stores, according to people familiar
with the matter, as the teen-apparel retailer contends with
mounting losses and falling sales.
Ant Financial Close to Hiring Former Goldman Sachs Banker Feagin
China's most valuable financial-technology startup, Ant
Financial Services-an affiliate of e-commerce giant Alibaba-is
close to announcing the hiring of former Goldman Sachs banker
Douglas Feagin to help its global push.
Hanjin Shipping Seeks Help From Chartered Fleet Owners
Hanjin Shipping, South Korea's largest container operator by
capacity, reached out to owners of its chartered fleet and terminal
operators to say it can't survive unless they help with its debt
restructuring.
DBS Group Reports 6% Rise in First Quarter Net Profit
DBS Group Holdings Tuesday reported a 6% year-on-year rise in
its first quarter net profit as it improved its interest
income.
Mexican Regulators Put Conditions on Delta-Aeromexico Transaction
Mexican antitrust regulators have conditioned approval of an
enhanced partnership between Delta Air Lines Inc. and Mexico's
biggest carrier Grupo Aeromexico SAB to the two giving up certain
takeoff and landing slots at Mexico City's international airport
and eliminating duplication of designations on cross-border
routes.
(END) Dow Jones Newswires
May 03, 2016 02:55 ET (06:55 GMT)
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