Deutsche Bank recently came under fire for incorrectly disclosing deferred tax assets in its 2019 financial statement, a move that did not align with international accounting standards. The German regulator BaFin pointed out that the declarations regarding deferred tax assets in the bank’s consolidated financial statement were incomplete. Missing Information in the Financial Statement BaFin
The recent plunge in Hugo Boss shares, declining as much as 10%, can be attributed to the company cutting its sales outlook for the year. The German fashion house reduced its sales forecast to up to 4.35 billion euros from the previous estimate of up to 4.45 billion euros. This adjustment is a clear indication
General Motors’ ambitious goal of producing 1 million all-electric vehicles in North America by the end of 2025 seems increasingly unlikely, according to recent statements made by CEO Mary Barra. Barra’s comments, made during a virtual CNBC CEO Council event on Monday, suggest that the market demand for electric vehicles has not materialized as quickly
The recent attempted assassination of former President Donald Trump at a Pennsylvania rally has prompted leaders of some of the most powerful firms on Wall Street to speak out against such acts of violence. JPMorgan Chase CEO Jamie Dimon expressed his deep sadness and condemnation for the violence, emphasizing the importance of standing together against
Goldman Sachs announced impressive second-quarter results on Monday, surpassing profit and revenue estimates. The company reported earnings of $8.62 per share, beating the $8.34 per share estimate from LSEG. Additionally, revenue came in at $12.73 billion, higher than the $12.46 billion estimate. This marked a significant improvement for the bank, with second-quarter profit soaring 150%
Recent signs of easing inflation have opened the door for the Federal Reserve to potentially cut interest rates in the near future. Key inflation indicators, such as the consumer price index, have shown a decline, giving the Fed more room to maneuver. This is good news for consumers who have been experiencing high borrowing costs
Rentvesting is a unique approach to real estate investment where individuals choose to rent their primary residence in one city while purchasing an investment property elsewhere. This allows them to generate income through renting out the investment property, whether on a short- or long-term basis. According to Danielle Hale, chief economist at Realtor.com, rentvesting can
Department store giant Macy’s recently announced the termination of negotiations with an activist group seeking to take the retailer private for approximately $6.9 billion. The decision was made by Macy’s board unanimously, citing concerns about the financing and the lack of compelling value in the proposal. Lead independent director Paul Varga expressed that the proposal
China’s National Bureau of Statistics recently reported that the country’s second-quarter GDP only rose by 4.7% year on year, missing expectations of a 5.1% growth based on a Reuters poll. This underwhelming performance indicates a slowdown in the Chinese economy, with June retail sales also failing to meet estimates by rising only 2% compared to
Burberry, the iconic British luxury brand, faced a significant setback as shares plummeted by over 15% in early trading on Monday. The company issued a profit warning, announcing the possibility of an operating loss for the first half of the year and a full-year operating profit below expectations. Joshua Schulman, a former executive of Michael