By Valentina Za and Giulio Piovaccari MILAN (Reuters) – In 1977, a Ferrari owner offloaded his 1962 250 GTO because his wife complained it was too noisy, recounts Andrea Modena, head of Ferrari[...]
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Economy
US bank giants ride rate rises, keep storm clouds at bay
By Nupur Anand, Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -U.S. banking heavyweights reaped windfalls from higher interest payments in the first quarter, brushing off a crisis prompted by the[...]
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Bigger banks rise while regionals slump as Q1 earnings season kicks off
By Sinéad Carew and Saqib Iqbal Ahmed (Reuters) – Shares in U.S. banks were a mixed bag on Friday with JPMorgan Chase soaring 7.0% after its quarterly report impressed investors while PNC Financ[...]
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JPMorgan surpasses Wall St forecasts, winning business as crisis roils industry
By Niket Nishant and Nupur Anand (Reuters) -JPMorgan Chase & Co beat Wall Street’s estimates for quarterly profit and raised its outlook for interest income on Friday, emerging as one of the bigge[...]
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BlackRock eyes banking rout as chance for growth as inflows rise
By Jaiveer Shekhawat and Davide Barbuscia (Reuters) – BlackRock Inc expects dislocations created by a recent banking rout to present “enormous” opportunities to expand its business,[...]
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Citigroup beats estimates on higher income from loans; shares rise
By Tatiana Bautzer and Mehnaz Yasmin (Reuters) – Citigroup Inc’s first-quarter profit beat Wall Street expectations as it earned more from borrowers paying higher interest on loans. While[...]
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Wells Fargo profit exceeds estimates as rising rates bolster income
By Noor Zainab Hussain, Manya Saini and Saeed Azhar (Reuters) -Wells Fargo & Co’s profit surpassed expectations for the first quarter on Friday as it earned more from higher interest rates,[...]
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Singapore wealth group denies report of directive to keep quiet on China-linked fund inflows
SINGAPORE (Reuters) – A private banking industry group in Singapore on Friday denied a media report that the city state had asked global banks to keep quiet on wealth inflows coming from China o[...]
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PNC Financial beats profit estimates on boost from higher interest rates
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s ne[...]
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