On Tuesday, the German multinational software corporation SAP AG announced a decline in net profit in first quarter from last year. The software maker reported that non-IFRS profit was higher. Revenue of the company rose more than 20%. In addition, the company's Cloud subscriptions and support business showed significant growth. According to reports, the results were helped by a cheaper euro.
Financial services company Credit Suisse Group has dropped the most since the start of 2015 in Zurich trading after the company revealed that a key measure of financial strength fell in the first quarter.
In a statement on Tuesday, the bank stated that the capital ratio to risk-weighted assets was at about 10%. At the end of 2014, it was 10.1%. The company's target was 11%. In the same quarter, net income rose about 23% to 1.05 billion Swiss francs. According to the company, increased trading activity encouraged private banking and securities unit.
Foreign automakers are investing more money into factories in China irrespective of fact that the biggest economic slowdown affected sales growth adversely. It seems that Volkswagen AG and General Motors will not cut their planned investments, whereas Toyota Motor and Ford Motor Co. are also working in this direction.
Crude-oil futures increased on Monday when China made announcement about a surprise cut in banks' reserve requirements.
Over the weekend, central bank of China made announcement about a surprise one-percentage-point cut in banks' reserve requirement. This step was taken when data showed economic growth of China had decelerated to 7% year-over-year in the first quarter and it was the slowest pace in six years.
Morgan Stanley American multinational financial services corporation is in discussions to settle a probe by the state's attorney general.
The investigation is based on whether the firm misled investors in mortgage bonds that lost value during the 2008 financial crisis. On Sunday, the Wall Street Journal reported that the bank is trying to reach a $500m settlement with New York's top litigator, Eric Schneiderman.
Prologis, a global industrial real estate investment trust (REIT) and Norway's $890 billion sovereign wealth fund, will acquire KTR Capital Partners for $5.9 billion in an attempt to expand in the US markets.
The company said in a statement that Prologis US Logistics Venture in partnership with Norges Bank Investment Management will purchase KTR Capital Partners. Prologis has a market value of nearly $22 billion. Approximately $700 million in debt will be assumed in the deal in addition to the issuance of $230 million of common limited partnership units in Prologis LP to KTR.
The birthday of a mentally disabled 10-year-old girl in Minnesota was attended by more than 650 strangers. Mackenze Moretter's 10th birthday invitation was turned down by fourth grade classmates. Only cousin and neighbor said they would attend the party.
Mackenzie was born with Sotos syndrome, which is a genetic disorder that delays speech and learning. According to her mother, other kids don't like to socialize with her.
A 19-year-old boy with Down syndrome from Texas received an acceptance letter for his first job at Embassy Suites.
Ben Sunderman shouted to his parents "I get it! I get a job!" while fist pumped the air. His parents actually recorded him opening his letter and captured the priceless moments that followed.
The teen has been watching his letterbox for days in order to find out if he'd been accepted for an internship at an Embassy Suites hotel.
A new study has claimed that sweating when happy can make others happy. Scientists reached at the conclusion after studying how women volunteers reacted to sweat samples from men. They found that chemical signals or chemosignals is sweat odor that can enliven others. The study was conducted by Utrecht University in Netherlands and the findings have been published in the journal Psychological Science.
General Electric faced a $13 billion loss in the initial quarter as it begins the process of selling of GE Capital. But CEO Jeff Immelt said on Friday that despite that fact, the position of the industrial organization remains strong and ready for development.
“In between investigation and improvement, investment in plant gear and info technologies, and the prospective for industrial (acquisitions), we'll invest $10 billion to $15 billion each and every year in our industrial growth”, stated Immelt.
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