BNP Paribas brings forward BoE rate hike call to Feb
BNP Paribas is expecting that the Bank of England is to raise UK interest rate hikes by 0.25%. And that too by next month. This is early when compared to the early forecast in May. The bank‘s chief European economist Paul Hollingsworth said in a research note that with the Covid backdrop improving and inflation continuing to surprise […]
HSBC’s Mexico Unit analysing possible Citibanamex purchase
HSBC Mexico’s chief executive officer and president said that HSBC’s Mexico unit is analyzing the purchase of Citigroup’s retail operations in the country, known as Citibanamex. HSBC Mexico’s Jorge Arce said in a conference call first reported by Mexican newspaper El Financiero that they are still looking at the opportunity, if there is a real […]
Philips expects summer recovery from supply chain woes
Dutch health technology company Philips said that it expects sales to recover strongly in the second half of the year. In the coming months, a steep decline due to global shortage of parts is likely to persist. Earlier this month they had warned that supply chain woes would hit their profit. A ventilator recall needed […]
Commerzbank Q4 weighed down by provisions at Polish mBank unit
Commerzbank said that its fourth-quarter earnings would be impacted by provisions made at its Polish mBank subsidiary. It would still post a net profit for the full year. The German lender said that mBank had made provisions regarding the foreign currency indexed loan agreements in the amount of 2.006 billion zloty. Also, added that its fourth-quarter results […]