National Bank of Canada profit beats on growth across businesses

TORONTO (Reuters) – National Bank of Canada (NA.TO) reported quarterly profit above analysts’ expectations on Wednesday, helped by growth across all its businesses, including personal and commercial lending. Net income rose about 11% to C$277 million in its personal and commercial banking unit and 5% to C$126 million in its wealth management business. Overall net income rose to C$608 million […]

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Deere cuts full-year earnings forecast after profits miss estimates

CHICAGO (Reuters) – Deere & Co.’s (DE.N) third-quarter earnings on Friday missed Wall Street estimates, hurt by the U.S.-China trade war that has dented the demand for farm equipment, forcing the company to revise down its full-year profit and sales growth forecasts. For the quarter ended July 28, the company reported an adjusted profit of $2.71 per share, up 4.6% […]

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Macy's shares sink as discounts to clear inventory hurt, tourism drops

(Reuters) – Macy’s Inc (M.N) cut its full-year earnings forecast on Wednesday after missing estimates for quarterly profit for the first time in at least two years, as it discounted merchandise heavily to clear spring inventory, sending its shares down as much as 18%. The largest U.S. department store operator, whose flagship building in Manhattan is a major tourist attraction, […]

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Saudi Aramco aims to buy Reliance stake, reports 12% earnings slide

DUBAI (Reuters) – Saudi Aramco is planning a blockbuster investment in Reliance Industries (RELI.NS), the Indian firm announced on Monday, as the energy giant diversifies its business, where weaker oil prices pared its first-half profit by 12%. State-run Aramco disclosed its closely guarded financials for the first time earlier this year, revealing its 2018 earnings in order to obtain a […]

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Top U.S. shale producer offers bleak view of U.S. output growth

(Reuters) – Pioneer Natural Resources, one of the largest U.S. independent oil producers, on Wednesday warned that the U.S. shale boom could end in all but one region by 2025, as producers exhaust the richest resource areas and drilling slows due to weak prices. Pioneer Chief Executive Scott Sheffield said just one area of the Permian Basin, the largest U.S. […]

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Allianz second-quarter profit up 13.5%, better than expected; confirms 2019 target

FRANKFURT (Reuters) – German insurer Allianz (ALVG.DE) posted on Friday a better-than-expected 13.5% rise in net profit in the second quarter from a year earlier and confirmed its full-year profit target. Net profit of 2.265 billion euros ($2.51 billion) compares with the 2.03 billion euro profit forecast by analysts in a Reuters poll and is up from 1.995 billion euros […]

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MetLife quarterly profit doubles on derivative gains

(Reuters) – U.S. insurer MetLife Inc (MET.N) on Wednesday reported quarterly profit that doubled from a year ago, boosted by strong derivative gains. MetLife recorded $724 million in derivative gains in the second quarter, reflecting changes in equity markets and interest rates. In the year-ago quarter, the company had a derivative loss of $59 million. Premiums and fees dropped 29% […]

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