HSBC to Decide on HQ Move by End of Year
HSBC's management will make a decision on whether to quit the
U.K. by the end of the year, the bank's chief executive said.
UBS Profit Nearly Doubles
UBS said first-quarter profit nearly doubled from the same
period last year on gains at its core wealth management business
and a strong bump from its pared-down investment bank.
Office Depot Swings to Profit
Office Depot, awaiting regulatory approval for its deal to be
bought by Staples, swung to a 1Q profit, though sales fell a
worse-than-expected 11%. It also said it expects to close 135
stores this year and at least 100 stores in 2016.
Sprint Stumbles, But Holds Place in U.S. Wireless Race
Sprint hung on to its third-place place rank in the U.S.
wireless business, though its revenue fell 7.7% for the first three
months of the year. It had 57.1 million total subscribers at the
end of March, putting it just ahead of 56.8 million for T-Mobile
US.
Intercontinental Exchange Posts Stronger-Than-Expected Results
Intercontinental Exchange said its 1Q profit rose 21% to $315
million as revenue grew across its segments and the exchange
operator continued reducing its operating expenses. The results
beat analysts' expectations.
Goldman Raises Top End of 'Reasonably Possible' Legal Loss
Goldman Sachs raised the top end of its range of "reasonably
possible" legal expenses to about $3.8 billion, the Wall Street
firm said in a regulatory filing.
Lafarge and Holcim to Sell U.S., Canadian Assets
French cement giant Lafarge and Swiss rival Holcim have agreed
to sell several plants, terminals and a quarry in the U.S. and
Canada, clearing the way for their proposed merger.
Archer Daniels Midland's Revenue Falls
Archer Daniels Midland's 1Q sales fell 15% to $17.51 billion as
the strong dollar and weak markets led to softness in its
corn-processing business. Revenue missed expectations, though
earnings were stronger than expected.
Metro's Loss Widens
German retailer Metro said its net loss in the second quarter
widened because of an expected goodwill impairment and currency
fluctuations, but confirmed its outlook for this fiscal year.
Lufthansa Grapples With Germanwings Crash Aftermath
Lufthansa has signaled that the crash six weeks ago of a
Germanwings jetliner and strikes by pilots could check its
operational turnaround despite swinging back to profit in the first
quarter.
Adidas Profit Surges
Adidas said that first-quarter net profit surged following the
improved performance of its Adidas and Reebok brands, with sales
growth in almost all of its regions.
Rocket Portfolio Value Tops $5 Billion
Rocket Internet said the value of companies in its portfolio
grew significantly in recent months as revenue increased.
Boliden Profit Boosted by Dollar
Swedish miner and base metal producer Boliden reported a higher
profit for the first quarter as the effects of a stronger U.S
dollar and better terms in its smelter business outweighed lower
metal prices.