Siemens, a German industrial technology giant, recently announced a better-than-expected quarterly operating profit, totaling 3 billion euros ($3.3 billion) for the quarter ending in June. This figure represents an 11% increase from the same quarter the previous year, surpassing analyst predictions. Despite this positive outcome, comparable orders dropped by 15% year-over-year, reaching 19.8 billion euros.
In recent years, Italy’s banking sector has undergone significant changes and transformations. Following a sovereign debt crisis and the subsequent government rescue of Banca Monte dei Paschi (BMPS), many are now looking at the Italian banking sector with renewed interest. Analysts believe that Italy might be on the brink of a wave of mergers and
The newsletter, Stocks @ Night, provides a detailed analysis of the stock market after hours, offering insights into what to expect for the following day. CNBC TV’s Diana Olick will be reporting on the state of office demand in the U.S, with a special focus on New York City. This information is crucial for investors
JPMorgan Chase CEO Jamie Dimon recently shared his view on the U.S. economy, stating that he believes the chances of a “soft landing” are minimal, with a recession being the more probable scenario. Despite the economy defying expectations so far, Dimon remains cautious about the future, citing various factors such as geopolitics, housing, deficits, spending,
On Wednesday, U.S. stocks saw a significant rebound after a three-day losing streak. This positive momentum was reflected in the S & P 500, the Dow Jones Industrial Average, and the Nasdaq Composite, which all posted gains. Jim Cramer described the day as a “good day” and attributed the previous day’s decline to a temporary
In the midst of financial struggles faced by many retirees, there has been a growing call to exempt Social Security from income taxes. This issue has gained bipartisan support and has now become a focal point in the 2024 election. Former President Donald Trump and Minnesota Gov. Tim Walz, the running mate of Vice President
Disney’s media business, which has been under scrutiny for its financial performance in recent years, seems to be turning a corner. Despite facing challenges with streaming losses and declining traditional TV revenue, Disney’s combined streaming services, including Disney+, Hulu, and ESPN+, recorded their first-ever quarterly profit of $47 million. This marks a significant improvement from
Sony’s finance chief, Hiroki Totoki, recently made a statement indicating that the company will not be making a fresh bid for film and TV production group Paramount Global. This decision was based on their current strategy and capital allocation structure, suggesting that acquiring Paramount may not align well with their financial objectives. Totoki’s remarks during
The recent decrease in mortgage interest rates has sparked a surge in demand for mortgages, both from homebuyers and current homeowners looking to refinance. Mortgage application volume rose significantly last week, reaching the highest level since the start of the year. The average contract interest rate for 30-year fixed-rate mortgages also dropped to a new
As the U.S. economy faces challenges from weaker-than-expected economic data, there have been discussions around the necessity of an emergency rate cut by the Federal Reserve. Claudia Sahm, the chief economist at New Century Advisors, believes that despite the concerns, an emergency rate cut may not be needed at this point in time. Sahm argues