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Bloomberg Booming stock markets and retail-investor fueled volatility have delivered the best quarter in years for many European banks’ equity trading desks, mirroring gains at their US counterparts. Barclays Plc said the first quarter was the “best ever” for its equities unit, which reported a 65% year-on-year jump in revenue to more than $900 million, while BNP Paribas SA posted ...

Bloomberg In his last words as Credit Suisse Group AG Chairman, Urs Rohner apologised. Eight weeks after the Swiss bank entered one of the most turbulent periods in its history, its outgoing chairman offered a mea culpa for the financial hits from the collapse of Archegos Capital Management and Greensill Capital. “The inexcusable losses that we have had to inform ...

Bloomberg HSBC Holdings Plc’s global banking unit will raise fixed pay for junior investment bankers in key hubs and hire more of them to share the workload, becoming the latest global firm to take steps to address burnout among staff. The lender will also shorten a four year associate program for certain groups in hub locations, including Hong Kong, London ...

Bloomberg Google’s results, showing a surge in ad sales related to travel and retail, offered a glimpse of online spending in a post-pandemic world: Businesses are boosting digital marketing to capture a public eager to resume something resembling normal life again. Google parent Alphabet Inc. said first-quarter revenue, excluding payments to distribution partners, came in at $45.6 billion, pummeling Wall ...

Bloomberg Microsoft Corp reported quarterly sales and profit that topped analysts’ estimates for a ninth straight quarter, lifted by booming cloud-computing demand. This time, investors weren’t satisfied. Sales in the period ended March 31 rise to $41.7 billion, the Redmond, Washington-based software maker said in a statement. That compared with the $41.1 billion average estimate of analysts polled by Bloomberg. ...

Bloomberg Twitter Inc tumbled 13% after the social media company posted a sluggish start to the year in its advertising business and gave a disappointing revenue forecast, a sign the social media service hasn’t fully capitalized on the digital advertising boom amid the pandemic like companies such as Facebook Inc. and Google. Sales were slow during the first months of ...

Bloomberg Toyota Motor Corp.’s global sales in March rise to a record, as the automaker’s ability to keep churning out vehicles amid a global shortage of chips puts the company in prime position to capitalise on a resurgence in demand for cars. Toyota’s global sales in March rise 44% to 982,912 units, a record for a single month, the company ...

Bloomberg French new car registrations soared 569% in April to 140,428 vehicles, rebounding from a year earlier when the coronavirus pandemic shut showrooms and auto factories. Registrations fall 25% compared with April 2019, showing that the vehicle market hasn’t yet recovered to pre-Covid levels, the CCFA association of carmakers said in a statement. The same trend was evident in the ...

Bloomberg Huawei Technologies Co.’s revenue shrank for a second straight quarter after US sanctions devastated the embattled Chinese tech giant’s smartphone business. Huawei reported a 17% decline in sales to $23 billion in first three months of this year, the company said in a statement. That follows a 11% decline in revenue for the three months ended December. Its profit ...

DUBAI / WAM The distribution of food has begun in three African countries namely Ghana, Angola and Uganda targeted under the ‘100 Million Meals’ campaign, which aims to provide food aid for disadvantaged communities in 30 countries. The campaign’s organiser, Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), is collaborating with local food banks and charities in the beneficiary countries ...