BNP Paribas Cuts Key Profit Target
UPDATED: BNP Paribas posted a 28% rise in fourth quarter net profit to EUR1.85 billion, matching forecasts, but trimmed its return on tangible equity estimate for 2020 to 10%.
Handelsbanken Helped by Tight Cost Control
Handelsbanken posted an above-forecast 9.1% rise in fourth-quarter net profit, as the bank benefited from higher interest and fee income while costs remained flat.
Danske Bank Beats Forecasts But Remains Under Pressure
Danske Bank reported a forecast-beating rise in fourth-quarter net profit of $745 million, but said its performance is under pressure amid low interest rates, margin pressure, impairments and higher costs in compliance and anti-money-laundering activities.
Goldman Executive Exits After Barred From Banking Over 1MDB Scandal
Andrea Vella left the firm after the Federal Reserve punished him for his role in a Malaysian corruption scandal that has tarnished Goldman's reputation.
Centene's Profit Dented by Higher Costs
Centene said its fourth-quarter profit fell as expenses increased, and that a key measure of spending was pushed up by results in the company's Affordable Care Act exchange business and health-care costs tied to the flu.
Market's Favorite Recession Signal Probably Has It Wrong
The market's most-popular recession warning is flashing red as fears about the economic impact of China's coronavirus outbreak. Yet the warning could be signaling something much more benign.
New Fed Repos Total $94.45 Billion
The Federal Reserve Bank of New York faced more demand for an offering of two-week temporary liquidity than it was willing to supply Tuesday, as the day's market interventions led overall temporary liquidity levels rise a bit.
Singapore Central Bank Says Policy Stance Unchanged
Singapore's central bank said that its monetary-policy stance remains unchanged but there is enough room in the policy band to accommodate an easing of the local dollar's nominal effective exchange rate.
Banks Expect Tighter Lending Standards, Weaker Loan Performance
The Federal Reserve's quarterly survey of senior loan officers found that a majority of banks expect to tighten standards almost across the board because of unexpected deterioration in the quality of those loans.
Is Your City's Pension Fund Short? Marijuana Might Help
Local officials are counting on marijuana taxes to help fix their underfunded retirement systems, but the revenue can be unpredictable.