HSBC Earnings Hit by Market Volatility 

HSBC said market volatility early in the year dragged on its ability to generate revenue as it reported a 18.2% decline in first-quarter net profit.

 
UBS Profit Hurt by Wealth Management Decline 

UBS said its first-quarter net profit fell sharply from the same period last year, as the Swiss lender's wealth-management business suffered and its investment bank failed to pick up the slack.

 
BNP Paribas Profit Up as Loan Provisions Drop 

The French bank's profit jumped in the first quarter despite difficult markets, with lower provisions against bad loans and a debt revaluation offsetting sharply lower investment banking revenue.

 
China Stocks Rise Following President's Backing of 'Healthy Development' of Markets 

Chinese shares rose Tuesday as investors gained confidence from President Xi Jinping's stated support of the "healthy development" of the country's stock markets.

 
Commerzbank Outlook in Doubt as Profit Drops 

Commerzbank cast further doubt over its full-year outlook as first-quarter net profit more than halved, with the German bank battling ultralow interest rates and sluggish activity in capital markets.

 
Lufthansa Reports Narrower Operating Loss 

Lufthansa it may further cut capacity and restructure its air-cargo unit to offset lower prices even as the German carrier posted a narrower first quarter-operating loss, a closely watched measure of its performance.

 
Activist Investor to Pressure Stada AG to Explore Potential Sale 

A German activist investor has accumulated a 5% stake in Stada Arzneimittel AG, with a view to potentially pushing a sale of the generic drugmaker, according to several people familiar with the matter.

 
Deutsche Bank North America CEO Jacques Brand to Leave 

Deutsche Bank's North American chief executive, Jacques Brand, is leaving the German lender to join boutique investment bank PJT Partners.

 
Statoil Sells Marcellus Assets to EQT for $407 Million 

Statoil ASA has agreed to sell some of its assets in the Marcellus Shale formation in West Virginia to EQT Corp. for $407 million in cash.

 
Aeropostale Preparing to File for Bankruptcy 

Aeropostale is preparing to file for bankruptcy protection this week and close more than 100 stores, according to people familiar with the matter, as the teen-apparel retailer contends with mounting losses and falling sales.

 
Ant Financial Close to Hiring Former Goldman Sachs Banker Feagin 

China's most valuable financial-technology startup, Ant Financial Services-an affiliate of e-commerce giant Alibaba-is close to announcing the hiring of former Goldman Sachs banker Douglas Feagin to help its global push.

 
Hanjin Shipping Seeks Help From Chartered Fleet Owners 

Hanjin Shipping, South Korea's largest container operator by capacity, reached out to owners of its chartered fleet and terminal operators to say it can't survive unless they help with its debt restructuring.

 
DBS Group Reports 6% Rise in First Quarter Net Profit 

DBS Group Holdings Tuesday reported a 6% year-on-year rise in its first quarter net profit as it improved its interest income.

 
Mexican Regulators Put Conditions on Delta-Aeromexico Transaction 

Mexican antitrust regulators have conditioned approval of an enhanced partnership between Delta Air Lines Inc. and Mexico's biggest carrier Grupo Aeromexico SAB to the two giving up certain takeoff and landing slots at Mexico City's international airport and eliminating duplication of designations on cross-border routes.

(END) Dow Jones Newswires

May 03, 2016 02:55 ET (06:55 GMT)

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