Tag is: The year is

Saudi Arabian oil giant Aramco hit by fall in oil prices

by the Logistics TransportIn the the General Assembly

Saudi Arabia’'s state-owned oil giant Aramco compared to the previous year in the first quarter on Sunday as falling global oil prices undermined the kingdom's multi-trillion dollar development plans. %It posted a profit of $26 billion (€23.4 billion), down 4.6 percent.

Aramco’, officially known as Saudi Arabian Oil Co., reported in a file on Riyad’'s Tadawul exchange that the company generated revenues of $108.1 billion (97.4 billion euros) in the quarter. The company generated revenues of $107.2 billion (96.5 billion euros) and profits of $27.2 billion (24.5 billion euros) in the same quarter last year.

Saudi Arabia has pledged to invest $600 billion (540.2 billion euros) in the U.S. ’ during President Donald Trump’'s tenure.

Trump, who will make his first official overseas trip to Riyad’ on Tuesday since taking back the Oval Office, said in January that he wants that figure to be even higher, about $1 trillion (0.9 trillion euros).

Meanwhile, Saudi de facto ruler Crown Prince Mohammed bin Salman has set his sights on a $500 billion (€450.1 billion) project to build Neom’, a vast, futuristic city in the desert off the Red Sea coast. The kingdom will need new stadiums and infrastructure that will cost tens of billions of dollars by 2034, when Saudi Arabia will host ’'s World Cup.

OPEC+ increases oil production

The announcement of Aramco’'s first quarter results came as the OPEC+ alliance increased oil production. The oil cartel agreed to increase production by 411,000 barrels per day next month as uncertainty caused by U.S. tariffs spreads to Middle Eastern markets. This means that Saudi Arabia's ’ will likely have to borrow money or spend reserve funds to finance the crown prince's expensive goals.

Aramco’'s shares traded above $6 per share (5.4 euros) on Sunday; from last year's high of around $8 (7.2 euros). Last year, with oil prices falling, and in recent months.

"Global trade dynamics have affected energy markets in the first quarter of 2025’, while economic uncertainty has affected oil prices," Aramco President and CEO Amin H. Nasser said in a statement.

Benchmark Brent crude oil traded above $63 per barrel (56.7 euros) on Friday; There has been a decline since their peak above $80 (72 euros) last year.

Aramco’ has a market capitalization of over $1.6 trillion (€1.4 trillion), making it the sixth richest company behind Alphabet’, which owns Microsoft, Apple, NVIDIA, Amazon and Google’. Analysts see the company as a trend leader in global oil markets.

Part of Aramco’ is traded on Tadawul’, and the lion's share of the company is owned by the Saudi Arabian government, helping cover expenses and contributing to the wealth of the country's Al Saud royal family.

Commerzbank reports increased profit as it fends off UniCredit offer

by the Logistics TransportIn the the General Assembly

Germany's Commerzbank reported better-than-expected results in the first three months of 2025. The bank's net profit replaces the expected declining net income %It increased by 12 to 834 million Euro’.

Revenues of the lender %Net interest income was slightly lower than a year ago, with a 12-year increase to €3.1 billion, compared to €2.07 billion at the end of the first quarter of 2025’. Meanwhile, net commission income in the same period due to the influence of the strong securities business %6 increased to 1 billion Euro’.

Bettina Orlopp, CEO of Commerzbank, said: "By demonstrating that we can grow even in times of economic hardship, we have achieved the highest quarterly profit since 2011’. We are on our way to implementing our “‘Momentum’ strategy. We plan to bring more capital to our shareholders in the coming years.”

Commerzbank has completed the €1 billion ’ share buyback program from November 2024’, and also offers to pay a dividend of €0.65 per share to be agreed at the Annual General Assembly ’ on May 15, 2025’.

Better-than-expected results come at a time when the German bank is striving to fend off takeover moves by Italian banking group Unicredit’.

Unicredit recently acquired a large stake in Commerzbank’ta ,9’a was taken out; this is what Unicredit’in needs to IPO for the entire bank %It's just below the 30 threshold.

In February, Commerzbank announced that the bank's workforce would be about %He announced that he had taken cost-cutting measures, including the dismissal of 10’.

Employee representatives of the German bank are also holding a protest against a possible takeover, just hours before Commerzbank’'s annual plenary meeting in ’ on May 15.

Commerzbank confirms this year's targets

The German bank said it expects a higher net result of around €2.4 billion for the entire year following restructuring expenses this year.

The bank allocated €40 million for restructuring expenses in the first quarter for its early partial retirement program, which it will offer later this year. That's part of the layoffs; The lender is currently negotiating with employee representative committees.

In addition, to maintain profitability, Commerzbank is also reducing its dependence on net interest income (the difference between what it earns from loans and what it pays on deposits) as interest rates fall.

Financial equity profitability in the first quarter of last year %From the 10.5 level %increased to 11.1’e; That's a strong seasonal figure. Commerzbank CFO’su Carsten Schmitt, “%"We are on track to achieve our goal all year round around 9.6," ” said. “We are also reducing our dependence on net interest income. We confirm our 2025 forecast.”

Rheinmetall’in sales increase as defense demand continues to rise

by the Logistics TransportIn the the General Assembly

GermanyRheinmetall, ’'s largest arms manufacturer, is in the defense business. %With the effect of the increase of 73’, sales in the first three months of the year %It reported an increase of 46 to 2.3 billion Euro’. The company also sells %He stated that 70’in were obtained from abroad and defense revenues increased to 1.8 billion Euro’.

The results revealed that after the suspension of US military aid in the Ukraine war, the demand for defense systems and weapons in Europe’ increased. Shares of the German arms manufacturer rose 1.5 percent at market opening, bringing earnings so far this year to 170’e. Germany’'s historic debt reform, which aims to increase defense and infrastructure spending, has contributed to better performance of European defense stocks in particular.

Improved market potential

Sales growth as Rheinmetall expects the pace of business development to continue throughout the year %From 25 to %He confirmed his forecast for fiscal year 2025, predicting that it will be between 30 and 2025. As noted in the special announcement on April 28, ’, the group said it could revise its annual guideline based on improving market conditions. ​​2024’ in the Group's operating result margin, including acquisitions ,2approximately in fiscal year 2025 compared to ’ %He expects a 15.5’ recovery.

“This outlook does not yet take into account the expected improvement in market potential in markets in Europe, Germany and Ukraine ’, which are particularly relevant to Rheinmetall’i as a result of geopolitical developments in recent weeks. Therefore, Rheinmetall will make the necessary guidance adjustments as the relevant requirements of defense customers become more specific throughout the year.”

Armin Papperger, chairman of the board of Rheinmetall AG’, commented: “Rheinmetall’e is needed; Customers are buying from us today. Europe must prepare itself for a new era in which we must confront with all our might the threat to our liberal values. Rheinmetall stands behind its responsibility in this groundbreaking period.”

“We must and we will. We are experiencing never-before-seen growth in the group, and we are getting closer to our goal of becoming global champions of defense. Collaborations for the future prove it. We also have promising projects in the US, UK, Italy and Ukraine, and we have a large number of large orders that will allow sales to increase further in the coming years. We are also greatly expanding our capacities through the construction of new facilities and strategic acquisitions.”

Increased profit from

Rheinmetall’in profit %It increased by 70 percent to earn €1.92 per share. Result of activity %The revenue from defence activities almost doubled to 206 million Euro’, up 49 percent to 199 million Euro’.

In particular, the Rheinmetall Candidate, an important metric for the company's defense business line, was awarded annually in the first quarter, referring to incoming orders and framework agreements with customers. 1 increased to 11 billion Euro’. The group attributed the increase primarily to orders from ’, Germany, and “ stated that it was primarily due to ”, a special fund for the German Armed Forces.

The accumulated order amount of Rheinmetall’ reached a new record of 63 billion Euro’ at the end of the first quarter, driven by many large contracts. This includes accumulated business resulting from ongoing agreements and framework agreements, as well as potential sales to civilian customers.

Sales of vehicle systems in other segments million euros increased to ’, while arms and ammunition revenues reached a new record of 599 million euros. Rheinmetall’'s candidacy for electronic solutions more than five times higher than last year, reaching €10 billion. However, due to sales of power systems, cyclical weakness in the automotive industry and consequent delays in project execution, %It declined 6.7 to 505 million Euro’.

Ferrari starts the year with race profit but warns of tax impact

by the Logistics TransportIn the the General Assembly

Italian luxury car manufacturer Ferrari makes net profit in the first three months of 2025’ %It reported a slightly better-than-expected first quarter, up 17 percent to 412 million Euro’. The automaker also warned that U.S. trade tariffs could hit gains later this year.

2025Net revenues in the first quarter of ’ compared to the previous year %It increased by 13 to 1.8 billion euros.

Ferrari CEO ’ Benedetto Vigna said “ is making a great start to another year. “2025In the first quarter of ’, with a very small number of increased shipments year-over-year, all key metrics recorded double-digit growth, underlining the strong profitability driven by our product mix and ongoing demand for personalization.”

Revenues from the automobile manufacturing business, partly due to increased personalization %It's up 11.1.

General shipments in the first quarter, mainly driven by demand in the EMEA region and USA’ %It increased by 0.9, but shipments to Mainland China, Hong Kong and Taiwan ’ decreased.

Sponsorship, advertising and brand revenues %It's up 32.1.

Appearance for 2025

The Italian automaker expects net revenues for the whole of 2025 on an annual basis. %It expects to increase by 5 to generate more than 7 billion Euro’ revenues. According to the manual, the adjusted operating profit %It is expected to be around €2.03 billion or more, with an increase of 7 or more.

However, the automaker warned that this profit could decrease if U.S. tariffs hit the automaker harder than expected. "The guidance above is subject to the potential risk of a 50 basis point drop in profitability percentage margins (EBITDA and EBITDA margins) in connection with the update of trade policy following the introduction of import tariffs on EU vehicles in the USA," “ said in a statement.

At the end of March, Ferrari announced that Trump’ had applied to European car imports. Prices of certain models in response to ’ car tariffs %He had already announced that he would increase it to 10’.

Vigna, “In line with our plans, we continue to enrich our product offering with a unique and innovative introduction this year with six new models, including the newly released 296 Speciale, 296 Speciale A and the highly anticipated Ferrari elettrica’, ” said. “We're very excited about what's coming.”

Ferrari’'s share prices follow report published at 16.30’ (CEST) in Italy trade at Euronext Milan’ %Increased by more than 1.8’.

Ford expects a €1.39 billion blow to 2025’te from Donald Trump’'s tariffs

by the Logistics TransportIn the the General Assembly

Ford Motor Co. said on Monday it expects its profit to be $1.5 billion (€1.39 billion) excluding interest and taxes as a result of this year's tariffs. The company also withdrew its all-year financial guide due to the uncertainty created by the Trump administration's burgeoning trade policy and suspended publishing a new one.

Automobile manufacturer, President Trump’ applied to vehicles ’ is less affected by tariffs than other car manufacturers.

Last week, General Motors said it was preparing for a potential impact of car tariffs as high as $5 billion (€4.4 billion) at 2025’. Ford and Tesla’ are expected to see a smaller impact from the tariffs compared to GM and other automakers as they assemble most of their cars in the USA’. Still, the impact they'll see won't be insignificant.

Ford initially estimated that its 2025 pre-interest and pre-tax earnings would be in the range of $7 billion to $8.5 billion (€6.2 billion to 7.5 billion), but on Monday the company said tariff-related risks made it difficult to update its full-year guideline at this time, given the “potential outcome range.

Ford CEO Jim Farley has been vocal about the advantage higher domestic production gives his company, and he did the same on Monday, acknowledging that the industry's tax impact is still in the early stages.

In his earnings interview with analysts, Farley said it is too early to measure relevant market dynamics, including potential supply chain disruptions across the “Sector. Car manufacturers with the largest footprint in “ will have a great advantage, and this also applies to Ford. This puts us in a pole position. - ”

Ford’'s earnings statements dominated the potential impact of tariffs; One executive pointed out how a small problem in a few parts can have a dramatic impact.

Operations Director Kumar Galhotra, “ChinaHow rare earth materials from ’, for example, are imported, has become quite complex over the past few weeks, not just for us, but for the entire industry, ” said. “Only a few parts will be enough to potentially cause some interruptions in our production.”

The first quarter (1. (Quarter of results)

The announcement comes after the automaker announced its first quarterly results, along with a sharp drop in profits. Net revenue fell by about two-thirds in the first quarter compared to the previous year, to 1.33 billion $471 million from ’ (€1.17 billion) $’a (€417 million) declined.

In the quarterly report, “ reported that as a result of the reduction in wholesale sales resulting from planned shutdowns at certain factories in relation to new product launches and inventory rebalancing measures, ” %It fell five times to $40.7 billion (€35.9 billion).

The results exceeded the expectations of analysts who participated in the FactSet survey, who estimated revenue to be about $38 billion (33.5 billion euros).

USAView of the car manufacturing sector in ’

President Donald Trump said one of the goals of his trade policy was to move more product manufacturing, such as cars, back to the U.S. ’. Last week, Trump signed executive orders to loosen some of the 25 percent ’ tariffs on cars and auto parts, which he said would give automakers more time to change production operations.

Automakers and independent analyses have shown that tariffs can increase prices, reduce sales, and make U.S. production less competitive around the world. However, Ford does not expect significant price increases. According to CNN’, the automaker expects U.S. auto prices to rise in the second half of this year due to tariffs on both imported cars and auto parts. %From 1 to %He expects it to increase by 1.5%.

Ford has promised an update to its financial guidance while announcing its results for the second quarter of the year.

AI outperforms Trump’'s tariff woes, while Microsoft and Meta outperform forecasts

by the Logistics TransportIn the the General Assembly

Microsoft and Meta Platforms reported that March quarter earnings exceeded market expectations; He suggested that strong demand for artificial intelligence (AI) helped both companies cope with the economic uncertainty stemming from tariffs. Highlights from the two US tech giants include Microsoft’'s Azure cloud business and Meta’'s advertising revenue; Both of these are significantly supported by artificial intelligence developments.

Shares of Microsoft and Meta’ in after-hours transactions, respectively %7 and 7 %Increased by 5.4 to boost U.S. stock futures. Shares of Microsoft’ are set to compensate for all losses this year, while shares of Meta’ have been around since the beginning of the year. %It continues its decline of 3.7’.

Microsoft’'s Azure growth accelerates

Microsoft’'s core cloud business (Azure and other related services) compared to the previous quarter in the third quarter of fiscal year 2025 Increased by ’ per year %It grew by 33 ’. Wall Street predicted that annual growth would be 29 percent.

Azure’'s quarterly growth Connected his ’ to artificial intelligence services; In the previous quarter, this %It was 13’. CEO Satya Nadella said: “Cloud and artificial intelligence are key inputs for every business to increase output, reduce costs, and accelerate growth” added: “From artificial intelligence infrastructure and platforms to applications, we innovate across the entire stack to serve our customers.”

Microsoft launched its AI leadership in late 2023’ with tens of billions of dollars invested in OpenAI’, the owner of ChatGPT’. It also integrated AI tools into the Office 365 suite and introduced chatbot-style Copilot assistants. According to Nadella’'s earnings statement, more than 15 million people currently use the GitHub Copilot assistant, a figure that has quadrupled from a year ago.

Amy Hood, Microsoft’'s vice president and chief financial officer, said: "Influenced by the ongoing demand for our differentiated offerings, Microsoft Cloud revenue is increasing on an annual basis. (in fixed currency increase) and a strong quarter of $42.4 billion, ” said.

Total revenue, compared to the previous year increased to 70.1 billion dollars (62 billion euros). Earnings per diluted share (EPS) increments of 3.46 $ (€3.06) and amounted to 3.22 $ It easily exceeded the consensus estimate (€2.85). All major segments (Microsoft 365 commercial and consumer products, LinkedIn and Dynamics products, and cloud services) recorded double-digit growth.

Josh Gilabert, market analyst at eToro Australia, “, said: "This result once again shows that Microsoft’ is not just driving the wave of AI, it's driving it.

But the wide-ranging tariffs imposed by Trump’ in April could still have a delayed impact on Microsoft’'s operations; But most of them are for countries other than China. creased to 10’.

In early April, Microsoft scaled down some of its global data center projects. A company spokesperson at the time, “, said that as demand for artificial intelligence continued to grow and our data center presence continued to expand, the changes we made showed the flexibility of our strategy. Nadella previously announced that Microsoft ’ aims to invest $80 billion (€70.7 billion) in data center infrastructure in the financial year 2025, which ends in June.

The quarterly capital expenditure, including leasing, fell for the first time in two years, to $21.4 billion (€19 billion).

Meta’'s advertising revenue grew solidly under the influence of artificial intelligence

Meta Platforms also announced strong results; Total Income Annually %It increased by 16 to $42.31 billion (37.41 billion euros), exceeding the expected $41.4 billion (36.6 billion euros). Earnings per share %It rose 35 percent to $6.43 (€5.69), well above the $5.28 (€4.67) forecast. Total sales of Meta’ %The advertising revenue, which makes up 98’, exceeded analysts' expectations and amounted to $41.39 billion (€36.6 billion).

CEO Mark Zuckerberg, “We made a strong start to an important year ​​; Our community continues to grow and our business is performing very well, ” said. “We are making good progress on artificial intelligence glasses and Meta artificial intelligence, which currently has almost a billion activities per month.” Meta AI is the standalone productive AI product developed in competition with the firm's OpenAI’nin ChatGPT’si.

Zuckerberg added during his earnings statement: “Our business is also performing very well and I think we are in a good position to manage macroeconomic uncertainty.”

The company plans to increase spending on artificial intelligence infrastructure; capital expenditures are expected to increase from the previous estimate of $60 billion to $65 billion, ranging from $64 billion (56.6 billion euros) to $72 billion (63.7 billion euros). Meta noted in its earnings report: “This updated view reflects additional data center investments to support our AI efforts, as well as an increase in the expected cost of infrastructure hardware. 2025Most of our capital expenditures in ’ will continue to be diverted to our core business.”

However, the company warned that the European Commission's recent regulatory decision could damage the user experience and affect European revenue from the third quarter onwards.

Volkswagen Group sees decline in performance as U.S. tariffs pose risk

by the Logistics TransportIn the the General Assembly

German automaker Volkswagen AG announced its first-quarter earnings on Wednesday; operating profit is approximated annually as the company continues to grapple with the impact of U.S. tariffs declined to 2.9 billion Euro’.

Sales revenue in the first quarter of this year compared to the same period in 2024 %It increased by 3 to 78 billion Euro’.

2025In the first three months of ’, 2024According to the first quarter of ’ %Approximately 2.1 million vehicles were sold with an increase of 1 million.

Global share of battery electric vehicle (BEV) deliveries on an annual basis %the 6’ Raised to ’a.

Western Europe’'s share of Volkswagen’in BEV deliveries %the 9’ He ascended to ’; One out of every four BEV’s recorded in the first quarter came from the Volkswagen Group’.

The car industry worldwide is significantly vulnerable to current tariffs on US ’'s car imports, especially due to the globalization of car supply chains. This means that many automakers depend significantly on production facilities outside the U.S.

Although Trump is present this week to make it easier for manufacturers to avoid high tariffs %Although 25’ cars have changed their tariffs, companies are already affected. In addition, it may take more time for the full size of this tariff discount to be reflected in the sector.

Volkswagen AG’nin CFO’su and COO’su Arno Antlitz said in the first-quarter earnings statement posted on the company's website: “As expected, the Volkswagen Group made a mixed start to the financial year ​​. Our cars are very well received. Western EuropeOrder intake has increased significantly in ’, and our order books are filling up quickly.”

Antlitz pointed out that one out of every five cars sold in the Western European ’ is now fully electric.

He added: At the same time, the market success of our electric cars puts pressure on our results. An operating margin of around 4% makes it clear that we still have considerable business ahead of us.’

He also stressed the importance of focusing on leverages under the company's control in the face of volatile global economic conditions. He said that in order to increase the chances of success in rapidly changing market conditions, the firm needs to complement its wide range of products with a competitive cost base.

When it comes to next year's outlook, the Volkswagen Group is looking at the previous year's figure of sales. %He expects it to exceed 5’.

The firm is likely to reap the return on activity from sales. %From 5.5 to %He said it would be between 6.5, but this guide does not include any influence from the current tariffs.

This year's automotive net cash flow is estimated at between €2 billion and €5 billion, while the automotive sector's net liquidity is expected to be between €34 billion and €37 billion.

The company said in its earnings press release: “28 April 2025Based on developments in the period up to ’, the Volkswagen Group expects operating sales return, automotive net cash flow and net liquidity to trend towards the lower end of the respective ranges. It remains the group's goal to maintain a strong financing and liquidity policy.”

Finance giants JPMorgan Chase and Morgan Stanley see gains rise

by the Logistics TransportIn the the General Assembly

Many major financial firms announced their earnings results on Friday, and many gave investors good news after a week of market turmoil.

JPMorgan Chase, ’'s largest lender, reported annual net income in the first three months of the year. %It said it rose 9 percent to $14.6 billion (€12.8 billion).

CEO Jamie Dimon said that despite President Donald Trump's warning of uncertainty ahead due to the ongoing trade war and other geopolitical tensions, this was above market expectations.

Dimon said the strong performance of the bank's market division helped the bank move to another strong quarter despite the challenges ahead.

JPMorgan’'s earnings per share rose from $4.44 (3.90 euros) to $5.07 (4.46 euros) a year ago. According to data firm FactSet’, the result surpassed Wall Street’'s profit estimates of $4.63 per share. Total managed revenue, 41.9 billion in the previous year $Increased from ’ (€36.8 billion) to 46 billion $’a (€40.4 billion) reached. Wall Street was expecting $44 billion in revenue.

Trump’'s tariff rates, which are now 10 percent for most U.S. trading partners and 145 percent for China, have plunged financial markets into dizzying fluctuations for weeks, creating a tremendous amount of economic uncertainty. This is bad for banks that rely on stability, which allows healthy consumers and businesses to borrow.

JPMorgan’'s trading desk grew in the first three months of 2025’, with the help of market volatility, even before Trump’ introduced massive “ Liberation Day ” tariffs on April 2nd.

The bank's revenue at this time. %While 21 increases, stock revenues also increase annually. is up.

Morgan Stanley, Wells Fargo and BlackRock

Morgan Stanley also surpassed Wall Street’'s first quarter forecasts, which the New York-based investment bank attributed to the strong performance of its stock trading division.

Net revenue reached $4.3 billion (€3.8 billion), while the firm generated record revenues of $17.7 billion (€15.6 billion).

Wells Fargo also reported on Friday that the San Francisco bank's first-quarter net income was $4.89 billion (€4.3 billion) or $1.39 (€1.22) per share. This exceeded analysts' forecast of earnings of $1.23 per share.

Investment firm BlackRock, meanwhile, announced on Friday that its first-quarter net income was $1.51 billion (€1.3 billion).

The New York-based company reported net income of $9.64 (€8.47) per share.

Earnings adjusted to mergers and acquisitions costs and depreciation costs, 11.30 per share $ (€9.93) exceeded Wall Street expectations.

The average estimate of seven analysts surveyed by Zacks Investment Research was $10.25 per share.

The investment firm posted revenues of $5.28 billion (4.6 billion euros), which missed Wall Street’'s estimates during this period. Five analysts surveyed by Zacks’ expected $5.33 billion.

How could Trump’'s tariffs affect the earnings of the upcoming major U.S. banks?

by the Logistics TransportIn the the General Assembly

The first-quarter earnings season will begin later today with major U.S. banks, including JPMorgan Chase and Wells Fargo, followed by Bank of America, Citigroup and Morgan Stanley next week. After a turbulent week at Wall Street’, the results of these leading lenders will provide critical insights into the broader economic impact of President Trump’'s wide-ranging tariffs on business sentiment and outlook.

Analysts expect banks to deliver strong results in the first three months of the year, during which time the U.S. economy will still be resilient. However, with a more cautious tone expected due to rising economic uncertainties, attention is likely to shift towards forward direction. Growth outlooks, an important benchmark for investors, are expected to be revised downwards when assessing the long-term effects of the trade cut.

Prior to the recent tariff-driven market turmoil, the banking sector was among the stronger performers, backed by steady credit growth, improved liquidity conditions, and an increase in mergers and acquisitions (M&A) activities. As of February 19, shares of JPMorgan and Wells Fargo’ are approx. %It was valued at 13. However, in the midst of the escalating trade war ignited by Trump’'s tariff announcements, both stocks While depreciating more than ’, the sentiment was reversed.

Tariff-related uncertainties likely to put pressure on earnings

Following last week's mutual tariff announcement, Morgan Stanley analyst Betsy Grasek downgraded the U.S. banking sector's rating from ‘cazip’ to ‘compliant’. In a note to “, trade developments are moving our base scenario towards a serious gross domestic product slowdown, and with the risk that our bearish scenario will increase sharply, ” wrote. Grasek added that investment banking revenues may be more susceptible to recession risks than traditional lending.

Dilin Wu, a research strategist at ’, said economic uncertainty and rising recession risks from the tariff war could stifle credit demand. Wu said banks may need to face higher credit loss provisions that will further reduce “financial performance, adding that volatility in financial markets caused by uncertainties about ” tariffs will likely hamper capital market activities, negatively impacting investment banking revenues, especially mergers and acquisitions and equity issuances.

Investors' attention will likely focus on banks' perspectives and guidance on signs of the long-term impact of tariffs. Kyle Rodda, senior market analyst at Capital.com’, wrote in an email: “These hard facts mean that markets need to price the blow to corporate profits; The upcoming U.S. reporting period (launched unofficially by several U.S. banks on Friday) will be closely monitored in terms of declines in earnings and revision or complete removal of guidance.”

The Fed is wary of further interest rate cuts

The Federal Reserve ’'s interest rate path has become even more complicated as tariffs have increased expectations that inflationary pressures will renew. On Thursday, Boston Federal Reserve Bank President Susan Collins signaled that the central bank could delay further expansion: “Renewed price pressures may delay further normalization of policy, as confidence is needed that tariffs will not destabilize inflation expectations.”

While banks often benefit from high interest rates thanks to improved net interest margins, tighter policies can slow down credit growth, putting pressure on household spending and broader economic activity. As a result, estimates of banks' net interest income (NII) (the difference between what they earn from loans and what they pay on deposits) will likely be more prudent. Analysts at Bank of America’ expect a cautious stance from the management when the first quarter results are announced.

Bank earnings forecasts

Despite the negative winds caused by tariff uncertainty, bank earnings are expected to remain strong in the first quarter and all economic impacts of tariff increases are likely to occur later in the year.

According to consensus estimates compiled by Reuters, JPMorgan ’'s earnings per share (EPS) is 4.61 $ (€4.08) is expected to report; This is compared to the same period last year. %It represents an increase of 3.8’. Wells Fargo’'s EPS’ %It is expected to rise by 3.3 to $1.24 (€1.1). Bank of America’, compared to the previous year %With an increase of 8’, EPS’ is expected to report $0.82 (€0.73). Citigroup’'s earnings this quarter %It is expected to reach $1.86 (165 euros) with an increase of 18. by Morgan Stanley’nin EPS’de %It is expected to reach $2.22 (€1.97) with a 10 increase.

Generali, Deutsche Bank and Deliveroo: Company news that drives markets

by the Logistics TransportIn the the General Assembly

Italy’'s largest insurance company Generali reported record profits for 2024 as Chief Executive Officer Philippe Donnet prepares to face a vote by key shareholders next month on ’'s reappointment.

The operating profit of the company compared to the previous year, mainly due to the strong performance of the Asset and Asset Management department %An increase of 8.2, reaching a record level of 7.3 billion euros. Clear result corrected according to description %An increase of 5.4 to 3.8 billion Euro’, setting an all-time record for the Group.

Generali Group CEO Philippe Donnet said that ’Group is today in the strongest position in its history, as demonstrated by our record operating and adjusted net results achieved through the efforts and determination of our employees and distribution network.

Total assets managed by the company, thanks to increased net inflows and consolidation of Conning Holdings Limited’in %Increasing by 31.6, it reached 863 billion Euro’. Gross written premiums, which are the total amount of money collected by the insurance company from its customers, according to 2023’ %It increased by 14.9 to 95.2 billion Euro’. The main reason for this was life, property and accident insurance.

Board of Directors, compared to the previous year %He offered a dividend of €1.43 per share, which was 11.7 more. Generali’'s annual general assembly meeting will be held on April 23-24, and the re-appointment of the current CEO’ is the most closely followed event by investors. Three years ago, Francesco Gaetano Caltagirone, a leading investor in the company, tried to replace Donnet’, the CEO of Assicurazioni Generali’ since March 2016’, but failed.

Generali shares traded on the Milan Stock Exchange’ did not show any significant change after the earnings report.

Strong profit growth in Vienna Insurance Group AG’

Vienna Insurance Group AG also recorded a very strong performance in 2024. The company's pre-tax profit %It reported an increase of 14.1 to 881.8 million Euro’. Insurance service income, mainly under the influence of agreements in the property and accident insurance business %An increase of 11 to 12 billion Euro’.

Company, the amount of dividends %He proposed an increase of 10.7 percent to 1,55 Euro’ya.

Shares of the company in the afternoon Avrupa’da %It was valued at 1.3 percent.

Deutsche Bank raises jackpot pool to 10-year high

Looking at the updates from Deutsche Bank’, Germany saw an increase in the bonuses of investors at ’'s largest bank, according to the bank's annual report published on Thursday.

Bonus pool for the bank's trader’s and traders %With 25 increases, €2.5 billion reached ’, the highest figure since 2014’.

The Frankfurt-based bank said its audited results confirm previously reported figures detailing the bank's 2024 performance published on January 30, 2025’.

Two Polish banks report remarkable results for 2024

Poland’'s largest bank, Warsaw-based PKO Bank Polski, has dazzled investors with its latest results. Share price at Avrupa’da around 13:00 CEST %He's gone up more than 3’.

The lender's net profit reached PLN’ (€2.22 billion) at 2024’te 9.3 billion; compared to the 2023 ’. %It points to a massive increase of 69.1.

By increasing its market share in retail and corporate areas, its assets increased to PLN’ 525 billion (EUR 125 billion). Revenue from PKO Bank Polski’'s core activities %It increased by 19.6.

In the statement, “Bank recorded significant momentum in corporate loans in the fourth quarter and continued double-digit growth in individual loans, ” said.

The company's market capitalization reached PLN’ye 74.7 billion (EUR 17.8 billion) by the end of 2024; This is about an annual ’ means an increase.

“PKO Bank Polski 2024’te has experienced above-market growth and Poland is fully prepared to finance the expected momentum in ’'s economic development, the bank said in a statement.

Polish business BNP Paribas BP, affiliated with French multinational BNP Paribas’a, also reported exceptional profits for 2024. Net profit compared to the previous year %It increased by 133 to 2.4 billion PLN’ (€570 million). Net interest income per annum %It increased by 9.9 to 5.74 billion PLN’ye (EUR 1.37 billion).

Deliveroo announces its first profit

British online food delivery company Deliveroo recorded its first positive result in 2024 as it expanded its operations. The firm specifically entered the grocery business and formed partnerships with retailers.

Income in fixed currency %It was about £2 billion (€2.47 billion) in a 3 increase, and the profit was £2.9 million (€3.5 million) compared to the £32 million loss in ’ in 2023.

Deliveroo expects a further increase in Gross Transaction Value (GTV), the value of everything sold in its market.

Deliveroo Founder and CEO ’ Will Shu, “Our first full-year profit and positive free cash flow, as well as the strong results we announced today with GTV growth in our industries, show that our strategy is working, ” said.

“I am confident that we can continue to drive growth, while the consumer environment remains uncertain, ” added.

However, the expected weak consumer confidence negatively affected investor confidence. Stock EuropeIn the afternoon value of ’ is almost %He lost 7’sini.

The London-based company also announced on Monday that it will exit its Hong Kong operations due to increased competition and weak sales.

Hugo Boss’ 's is down

German fashion company Hugo Boss AG saw record sales at 2024’te, but that wasn't enough to drive the big fashion brand's profits high enough.

Sales of Hugo Boss’ due to increasing macroeconomic and geopolitical uncertainties and delayed consumption 2024’te %It increased by 3 to 4.3 billion Euro’. If the group's operating profit is %It fell by 12 to 361 million Euro’. The Net Income %It declined by 17 to 224 million Euro’.

Shares of the company in the afternoon trade in Avrupa’ %3He lost over ’.