SK Hynix, a prominent South Korean memory chipmaker, recently reported a remarkable turnaround in its financial performance for the first quarter of the year. The company disclosed a net profit of 1.92 trillion South Korean won, marking a significant improvement from the 2.58 trillion won loss recorded in the same period last year. This positive
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Deutsche Bank has reported a 10% increase in first-quarter profit, exceeding expectations. The net profit attributable to shareholders was 1.275 billion euros, surpassing the analyst forecast of 1.23 billion euros. This marks the bank’s highest first-quarter profit since 2013 and its 15th consecutive quarterly profit. The group revenue also saw a 1% year-on-year rise to
In a recent decision that has captured the attention of financial institutions worldwide, a Russian court has ruled in favor of state-run lender VTB Bank in its efforts to recoup $439.5 million from American lender JPMorgan Chase. The funds were frozen by JPMorgan in U.S. accounts following the Ukraine invasion, prompting VTB Bank to take
Employee Stock Purchase Plans, commonly known as ESPPs, can be a valuable benefit for employees of publicly traded companies. However, before deciding to participate in your company’s ESPP, it’s crucial to understand the rules and risks associated with it. According to financial experts, around half of public companies offered an ESPP in 2020. The allure
Starbucks and the union representing its baristas, Workers United, have decided to return to the bargaining table after months of stalemate. This decision follows a February announcement where both sides expressed willingness to find a constructive path forward. The previous two years saw Starbucks engaged in a heated battle against the union and the broader
Ford Motor is set to reveal its first-quarter earnings after the markets close on Wednesday. Analysts on Wall Street have compiled their estimates, with expectations as follows: Earnings per share are projected to be at 42 cents adjusted, while Automotive revenue is anticipated to reach $40.10 billion. This would represent a 2.6% increase in revenue
Recent data has shown that mortgage rates have seen a steady increase over the past few weeks, reaching the highest level since November. This rise in mortgage rates has resulted in a 2.7% decrease in mortgage application demand as compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming
The former CEO of cryptocurrency exchange Binance, Zhao, is facing an uphill battle as U.S. prosecutors are pushing for a 36-month prison sentence, which is double the high end of the advisory guidelines range for his crimes. The prosecutors argue that this harsh sentence is necessary to reflect the gravity of his offenses, promote respect
Roche, the Swiss pharmaceutical company, recently released its first-quarter sales report, revealing a slight increase in sales despite the decrease in demand for its Covid-19 products. The company cited stronger demand for its newer medicines and diagnostics as the driving force behind the 2% increase in sales at constant exchange rates, with a more significant
Kering, the French luxury group, experienced a significant drop in its shares by over 9% on Wednesday. This decline came after the company issued a warning regarding its first-half profits, citing a substantial decrease in demand for its flagship brand, Gucci. The group expects a sharp decline of 40% to 45% in first-half operating income