HSBC Holdings plc (HSBC) gets approval from Russia’s president Vladimir Putin to sell its Russia unit to Expobank. In July 2022, HSBC agreed to sell a 100% stake in the Russia unit, HSBC Bank (RR) LLC.By June 2021-end, HSBC’s Russia business was worth 89.9 billion rubles and employed nearly 250 people.Post the Russia-Ukraine conflict, many of the world’s top financial companies began either selling or reducing their businesses in Russia because Western sanctions made operating there increasingly difficult.S ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key ...

Unilever’s trading update contained several pleasant surprises according to Deutsche Bank, which has tweaked its numbers and stuck with a ‘buy’ recommendation. “Gross margin surprised to the upside as did volume growth and this before the new management have fully mobilised their action plan,“ said the bank. “There remains a high skew between the outperformers and underperformers in the [consumer staples] Group which could provide some volatility, but we see Unilever progressing towards a steadier compoundi ...

The Wall Street “meme-lord” behind the social media account Litquidity — which famously aired junior Goldman Sachs bankers’ gripes about 100-hour work weeks during the pandemic — has been identified as a 32-year-old former Deutsche Bank investment banker.Miami-born Henry “Hank” Medina described himself as “the observer” in an office full of “loudmouths” to the Financial Times, the first outlet to report on the man behind the @Liquidity accounts — which have a collective roughly 2.2 million followers betwee ...

UBS Group AG (UBS) reported fourth-quarter 2023 net loss attributable to shareholders of $279 million. It recorded net profit of $1.65 billion in the year-ago quarter.Results were adversely impacted by higher operating expenses, along with a significant rise in credit loss expenses. However, a rise in total revenues, driven in part by the acquisition of Credit Suisse, was a supporting factor.The performance of the Personal & Corporate Banking division was impressive. However, the Asset Management, Non-core ...

Chinese electric vehicle manufacturer Li Auto (NASDAQ:LI) finally benefited from some positive developments. Earlier Tuesday, Deutsche Bank analyst Edison Yu upgraded LI stock to “buy” from “hold,” although he trimmed his price target by $4 to $41. Nevertheless, the share price forecast still reflects a more than 46% lift from Monday’s closing price of $28.Fundamentally, the most important element tied to the upgrade centers on the confidence boost. As CNBC pointed out, LI stock has declined approximately 2 ...

Deutsche Bank (DB) reported fourth-quarter 2023 profit attributable to its shareholders of €1.26 billion ($1.37 billion), down 30% year over year. The Germany-based lender reported a profit before tax of €698 million ($759.2 million), down 10% year over year.Results were largely driven by higher net revenues. However, higher provision for credit losses and rising expenses were the offsetting factors.Revenues & Costs Rise, Provisions RiseThe bank generated net revenues of €6.66 billion ($7.24 billion), up 5% ...

Market hopes for big cuts this year are unlikely to pan out, Deutsche Bank wrote. Today's economy is similar to 1995, when cuts came in below market predictions. A productivity cycle from AI could keep the US from falling into a recession, keeping rates up. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email add ...

Deutsche Bank (DB) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 94.59%. A quarter ago, it was expected that this bank would post earnings of $0.53 per share when it actually produced earnings of $0.61, delivering a surprise of 15.09%.Over the last four quarters, the company has sur ...

Deutsche Bank is cutting 3,500 jobs as it aims to shave off billions in operational costs by 2025.  On Thursday, the German investment bank announced that it made further progress on its operational efficiency program during 2023. The goal of the program is to cut costs by 2.5 billion euros, or about $2.7 billion.While the bank made progress on this goal, it noted that it was still seeking to save 1.6 billion euros, or $1.7 billion. These savings will be driven by various measures "including simplified work ...