StanChart to double investment in wealth management as profits rise

Wealth business had record quarter as revenues rose 32%

Business - Financial Times - 47 minutes ago

Deutsche Bank shares fall on doubling of third-quarter loan losses but profits rise

Deutsche Bank’s pre-tax profits were lifted by a reduction in the provisions it has set aside to settle litigation related to its Postbank acquisition

Business - MarketWatch - October 23

Switzerland’s wealth managers bank on a future in Asia

Hong Kong and Singapore are the world’s rising wealth centres

World - Financial Times - October 16

Iberdrola Profit Lifted by Record Investments

Spain’s energy giant Iberdrola posted a 50% rise in net profit for the first nine months of the year helped by record-high investments in its U.S. and U.K. networks.

Business - The Wall Street Journal - October 23

Reeves cuts National Wealth Fund budget despite UK investment drive

Chancellor’s decision comes as government seeks to work with private sector to decarbonise economy

Business - Financial Times - October 14

Saudi Arabia’s wealth fund pivots from international investments

Public Investment Fund will focus more of its financial firepower on domestic projects

Business - Financial Times - 21 hours ago

Morgan Stanley shares pop 7% after beating estimates for third-quarter profit and revenue

Morgan Stanley has several tail winds in its favor, from high stock values to a rebound in investment banking and strong trading activity.

Business - CNBC - October 16

Wall Street banks enjoy bumper fees as debt issuance and deals activity rebound

Morgan Stanley rounds off strong earnings season

Business - Financial Times - October 16

Barclays profits rise 23% as dealmaking returns

UK bank lifts guidance for net interest income

Business - Financial Times - 6 days ago

NatWest profits rise by a quarter as lending and deposits grow

Bank also sets aside £245mn in provisions for bad loans, higher than expectations of £173mn

Business - Financial Times - 5 days ago

Netflix to double profits after adding millions of subscribers in three months

After cracking down on password sharing, expanding into ads and investing billions in live TV, group declares success. Netflix expects to double its profits this quarter after the world’s largest ...

World - The Guardian - October 17

World’s largest sovereign wealth fund posts $76 billion in quarterly profit as interest rates fall

Norway's gigantic sovereign wealth fund on Tuesday reported third-quarter profit of 835 billion Norwegian kroner ($76.3 billion).

Business - CNBC - October 22

Goldman Sachs beats on profit and revenue as stock trading and investment banking boost results

Wall Street trading and investment banking has helped the big banks this quarter, and Goldman Sachs results showed why they are a leader in those areas.

Business - CNBC - October 15

Charles Schwab is profiting from customers who want professional help with investing

The brokerage said it is seeing increased inflows into its wealth-management offerings.

Business - MarketWatch - October 15

Deutsche Bank's Investment Bank Performance, Provision Releases Lift Profit

Deutsche Bank reported a better-than-expected rise in its third-quarter profit on growth in its investment-banking division and the partial release of provisions linked to litigation over its ...

Business - The Wall Street Journal - 6 days ago

Australia to invest $12bn in missile manufacturing amid China’s rise

Canberra has prioritised domestic capabilities in defence strategy overhaul to meet ‘missile age’

World - Financial Times - 3 hours ago

BlackBerry Sees Rising Profitability Through Focus on Growth Opportunities

The Canadian company told investors its immediate priority was streamlining investments in its Cylance cybersecurity unit and focusing on opportunities for growth, mainly QNX.

Business - The Wall Street Journal - October 16

Hong Kong Exchange Operator's Profit Rises on Strong Trading, Listings

Hong Kong’s stock-exchange operator reported higher profit for the second straight quarter as improved market sentiment boosted trading and listing activity.

Business - The Wall Street Journal - October 23

Deutsche Bank shares shed 3% as lender's swing back to profit fails to impress

The partial release of 440 million euros of litigation provisions in the third quarter helped boost profit, Deutsche Bank said.

Business - CNBC - October 23

Nvidia and Apple supplier TSMC shares pop after quarterly profit soars on AI demand

TSMC, the world’s largest producer of advanced chips, posted a 54% hike in third-quarter profit.

Business - CNBC - October 18

The Musk-led group driving millions to Trump’s White House bid

Also in today’s newsletter, shamelessness in American politics and Kamala Harris’s appearance on Fox News