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UBS posts surprise second quarter profit boost -

UBS posts surprise second quarter profit boostUBS on Tuesday beat forecasts with a $1.4 billion net profit for its second quarter of 2019, as gains in its advisory business softened an investment banking fall and boosted its Swiss retail and corporate banking business. The 1% rise meant Switzerland's biggest bank's earnings exceeded the median net profit estimate in the bank's own consensus poll for a 24.9% slide to $1.038 billion. "In the second quarter we achieved the highest second-quarter net profit since 2010 and an improvement on an already strong second-quarter 2018," Chief Executive Sergio Ermotti said in a statement.


Tue, 23 Jul 2019 01:31:03 -0400

Channel Tunnel group Getlink says 'no-deal' Brexit is becoming very likely -

Channel Tunnel group Getlink says 'no-deal' Brexit is becoming very likelyChannel Tunnel operator Getlink posted lower first-half operating profits on Tuesday and said the scenario of Britain leaving the European Union without a divorce deal on October 31 was becoming "very likely". Getlink, formerly known as Eurotunnel, said its key reference scenario was now the "no-deal" one, and it therefore expected 2019 earnings before interest, taxes, depreciation and amortisation (EBITDA) to fall to 560 million euros ($626.6 million) from 569 million in 2018. Economic activity will continue to develop", he said, adding that Getlink's businesses met "vital needs".


Tue, 23 Jul 2019 01:30:02 -0400

Sanofi signs U.S. rights deal with Roche for flu treatment Tamiflu -

Sanofi signs U.S. rights deal with Roche for flu treatment TamifluFrench drugs and healthcare group Sanofi said on Tuesday it had signed a rights deal with Roche for the 'Tamiflu' product in the United States. The deal will give Sanofi exclusive U.S. over-the-counter (OTC) rights to Tamiflu, which is used for the prevention and treatment of flu. "This is a strategic and important transaction for us as we strive to continually bring innovations to the market," said Alan Main, executive vice president of Sanofi's consumer healthcare division, in a statement.


Tue, 23 Jul 2019 01:22:19 -0400

Australia to create new Pacific military unit in bid to woo the region -

Australia to create new Pacific military unit in bid to woo the regionAustralia will create a new military unit dedicated to training and assisting Pacific allies, Defence Minister Linda Reynolds said on Tuesday, as Canberra accelerates plans to undercut Chinese influence in the region. Australia, which long enjoyed virtually unchecked influence in the Pacific, and its Western allies worry that the region has edged closer to China in recent years as Beijing increases aid to the sparsely populated region and its resource-rich oceans. Australia has channelled ever larger amounts of aid to the region in a bid to counter China's growing presence but Reynolds said Canberra would also broaden its courtship of the Pacific to include stronger military ties.


Tue, 23 Jul 2019 01:09:12 -0400

FOREX-Sterling in defensive mood on concerns about no-deal Brexit -

FOREX-Sterling in defensive mood on concerns about no-deal BrexitSterling was on the back foot on Tuesday as investors worried Boris Johnson, the frontrunner to become the UK's next prime minister, would trigger a "hard Brexit" from the European Union, widely seen as a major risk for the British economy. The euro briefly touched the lowest in five weeks due to growing expectations European Central Bank President Mario Draghi will signal a rate cut in September at a policy meeting later this week to keep inflation expectations on track. The New Zealand dollar fell after Bloomberg News reported that the country's central bank is refreshing its strategies for unconventional monetary policy, but trading in other Asian currencies was subdued as investors awaited major developments in China-U.S. trade negotiations.


Tue, 23 Jul 2019 01:06:18 -0400


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