Stocks making the biggest moves midday: ULCC, DJT, TMUS, SBUX

Published

21 hours ago

January 29, 2025

Business Finance News

ECB President Christine Lagarde speaks after rate decision

Published

10 minutes ago

January 30, 2025

Business Finance News

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European Central Bank President Christine Lagarde is giving a press conference following the bank’s latest monetary policy decision.

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The European Central Bank announced a 25-basis-point interest rate cut on Thursday, as expected, in its fifth reduction since the central bank began easing monetary policy in June last year.

The reduction brings the ECB’s deposit facility, its key rate, to 2.75%. Markets had been pricing in an over 90% chance of a 25-basis-point cut ahead of the announcement.

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Deutsche Bank (DBK) Q4 2024 earnings

Published

8 hours ago

January 30, 2025

Business Finance News

Deutsche Bank offices in the City of London on July 2, 2024, in London, U.K.

Mike Kemp | In Pictures | Getty Images

Germany’s largest lender Deutsche Bank on Thursday reported weaker-than-expected profit that fell sharply in the last three months of 2024, as legal provisions weighed on the bottom line.

Net profit attributable to shareholders hit 106 million euros ($110.4 million) in the fourth quarter, compared with the 282.39 million euros forecast in a LSEG poll of analysts. The result marked a significant fall from the 1.461 billion euros achieved in the third quarter.

Revenue reached 7.224 million euros in the fourth quarter, versus a LSEG analyst poll of 7.125 billion euros — but was eroded by litigation costs over the period to the tune of 594 million euros.

The bank said it now targets a cost-income ratio of below 65% this year, compared with an initial goal of below 62.5%. Despite the drop in quarterly profit, Deutsche Bank launched a 750 million-euro share buyback.

This breaking news story is being updated.