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  • Business
    Bloomberg

    Oil Holds Modest Loss as Risk-Off Tone Counters Lower Stockpiles

    (Bloomberg) -- Oil held a modest decline, with a risk-off tone in broader markets countering a drawdown in US stockpiles.Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsZuckerberg Asks for Patience After Meta’s AI Push Irks InvestorsTaylor Swift Is Proof That How We Critique Music Is BrokenMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityTech Giants Hit in Late Hours After Meta’s Outlook: Markets WrapBrent crude traded ne

  • Business
    Reuters

    STMicro cuts FY revenue outlook as slowing car market bites

    (Reuters) -European chipmaker STMicroelectronics on Thursday lowered its full-year sales guidance, the latest semiconductor company to struggle with weakening demand from carmakers and a further decline in orders from laptop and phone companies. Analysts polled by LSEG were expecting revenue of $16.1 billion for the year. "During the quarter, automotive semiconductor demand slowed down compared to our expectations, entering a deceleration phase, while the ongoing industrial correction accelerated," said CEO Jean-Marc Chery in a statement.

  • Business
    Reuters

    BNP Paribas profit tops estimates on lower costs and global banking

    PARIS (Reuters) -BNP Paribas reported a fall in first-quarter profit and revenue on Thursday but beat analyst forecasts, as lower expenses and a strong performance in its corporate banking business offset flat or falling revenues elsewhere. The euro zone's biggest bank said group net income over the first three months of the year declined by 2.2% from a year earlier to 3.10 billion euros ($3.31 billion), beating the 2.4 billion-euro average of 19 analyst estimates compiled by the company. Revenues over the period came in at 12.5 billion euros, down 0.4% but also above the average analyst estimate of 12.2 billion euros.

  • Business
    Bloomberg

    BNP’s Fixed Income Traders Trail for Fourth Straight Quarter

    (Bloomberg) -- BNP Paribas SA’s fixed-income traders trailed all of the large Wall Street banks in the first quarter, taking the shine off a strong performance in other parts of the investment bank.Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsZuckerberg Asks for Patience After Meta’s AI Push Irks InvestorsTaylor Swift Is Proof That How We Critique Music Is BrokenMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityTech Gia