Reuters - Before the Bell

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Thursday, April 13, 2017

Citi profit beats estimates as fixed-income trading jumps

(Reuters) - Citigroup Inc reported a better-than-expected 17 percent jump in quarterly profit, boosted by strong fixed-income trading as clients adjusted their positions following rate hikes by the Federal Reserve and changes in the forex and credit markets.

Wells Fargo reports slight drop in profit

(Reuters) - Wells Fargo & Co, which has been mired in litigations stemming from a sales scandal, reported a 0.6 percent fall in quarterly profit on Thursday, hit by weaker mortgage banking fees and higher costs.

Trump triggers U.S. bond yield slide, dollar recovers

LONDON (Reuters) - U.S. Treasury yields tumbled on Thursday and were on track for the biggest weekly decline since late 2015 after U.S. President Donald Trump said he would like to see interest rates stay low, while inflows into bonds drained life from stocks.

JPMorgan profit jumps 17 percent on trading surge, underwriting

(Reuters) - JPMorgan Chase & Co reported a nearly 17 percent jump in quarterly profit on Thursday, thanks to a surge in trading activity and securities issuance that helped its Wall Street businesses.

Lawmaker behind Swiss pay veto calls for Credit Suisse bonus cut

ZURICH (Reuters) - The lawmaker who instigated a shareholder veto over excessive management pay in Switzerland has urged investors to use this power to block 78 million Swiss francs ($78 million) in bonuses for Credit Suisse's top executives.

Futures down on Trump's dollar remark; bank earnings eyed

(Reuters) - U.S. stock index futures were slightly lower on Thursday following President Donald Trump's remarks on the U.S. dollar and interest rates, while investors kept an eye on bank earnings.

Tesla's Musk tells disgruntled shareholders: Buy Ford

SAN FRANCISCO/DETROIT (Reuters) - A group of Tesla Inc investors has urged the luxury electric car maker to add two new independent directors to its board, without ties to Chief Executive Elon Musk, to "provide a critical check on possible dysfunctional group dynamics."

Boardroom excess? British companies stick with bonus plans despite criticism

LONDON (Reuters) - Pressure on British companies to ditch a common performance-related bonus scheme blamed for generating excessive executive pay has not stopped many firms from planning to stick with such schemes for another three years, a Reuters analysis shows.

Japan's Nomura targets younger generation as demographic crunch looms

TOKYO (Reuters) - Japan's Nomura Holdings Inc aims to leverage its access to about 1.6 million members of employee stock ownership plans to tap a new generation of customers as its client base grays.

Gray market has become a necessary evil for luxury watchmakers

ZURICH (Reuters) - A diamond-studded Rolex at 40 percent off the $34,000 retail price or an Omega Speedmaster Moonphase for less than $10,000? While still out of reach for most people, the increasing prevalence of such deals highlights the perplexing predicament in which luxury watchmakers now find themselves.