04292016Fri
Last update: Fri, 29 Apr 2016 02am

Business & Finance - Banking & Finance

Deutsche Bank halves profits in first quarter FRANKFURT: Deutsche Bank, Germany's biggest lender, said Thursday that its profits were more than halved in the first quarter as the slowing global economy weighed on client activity.But the bank's first-quarter performance still largely beat analysts' expectations. Deutsche Bank said in a statement that net profit fell to 214 million euros ($243 million) in the period from January to March, down from 544 million euros a year earlier. That represented a drop of 58 percent, but analysts had been pencilling in a bottom-line loss for the bank in the three-month period. Underlying or operating profit plunged by 60 percent to 579 million euros on a 22-percent drop in revenues to 8.1 billion euros. "Financial markets were challenging during the first quarter, largely reflecting concerns about the outlook for the global economy," said chief executive John Cryan."This uncertainty led to a decline in client activity in the capital markets, and our ...


Business & Finance - Industries & Sectors

Sony swings to $1.4bn full-year profit as PlayStation sales soar TOKYO: Sony on Thursday posted a full-year profit of $1.4 billion, as strong sales of its PlayStation video games console helps the firm move past years of eye-watering losses.The figures may be a sign that things have finally turned for Sony, which has been clawing back to profitability with a painful restructuring that included layoffs and selling off assets, including its Manhattan headquarters and laptop division.The company, along with rivals Panasonic and Sharp, has struggled ...

Business & Finance - Banking & Finance

Lloyds bank posts 45pc drop in quarterly net profits LONDON: Lloyds Banking Group on Thursday announced a 45-percent drop in first quarter net profit on expected costs linked to the repurchasing of bonds launched after the financial crisis.Underlying pre-tax profits were largely stable and chief executive Antonio Horta-Osorio said the first three months of the year had delivered "a robust financial performance" and left the group with a strong balance sheet.LBG, which has been returned almost fully to the private sector after a state-bailout ...

Business & Finance - Industries & Sectors

This Chrome extension erases killers from the internet It can be such a heart wrenching experience to read news about crimes i.e. mass killings, bomb blasts etc, especially for those whose loved one’s have been the unfortunate victims of such atrocities. A US based anti gun group called the ‘Brady Campaign to Prevent Gun Violence’ wants to erase the names of these killers from major websites. Now, to achieve that, the group is releasing a new extension for the Google Chrome browser.The extension ...

Business & Finance - Industries & Sectors

Youtube’s mobile gets a major facelift The world’s biggest video-sharing website, Youtube has recently had major facelift for its mobile users.As per a blog posted by Youtube, users will now see a redesigned homepage, which is termed much simpler than its predecessor. “Starting today, when you open the YouTube app on your iPhone or Android phone, you’ll experience a redesigned Home, with a clean and simple format that invites you to discover and enjoy,” Youtube said in the post.As per engadget, ...

Business & Finance - Industries & Sectors

Apple, ANZ Bank strike deal to bring Apple Pay to Australia SYDNEY: Apple Inc expanded its Apple Pay digital wallet in Australia on Thursday after ANZ became the country's first bank to support the mobile payment service, executives at the pair told Reuters.Apple Pay allows users to register credit cards on devices such as iPhones, and pay for goods and services by swiping the devices over contactless payment terminals. Apple charges card providers for transactions via the service, which it introduced to Australia last year with ...

Business & Finance - Industries & Sectors

Pfizer to pay $785 mn for overcharging US government on drugs NEW YORK: US authorities said Wednesday that drug giant Pfizer had agreed to pay nearly $785 million to settle allegations that one of its units overcharged the government for anti-acid drugs.Wyeth, the unit, was accused of knowingly reporting to the government false and fraudulent prices for two forms of Protonix, a drug notably used to treat symptoms of acid reflux, from 2001 at 2006, before it was acquired by Pfizer in 2009, the Justice Department ...