By Noor Zainab Hussain and Imani Moise (Reuters) – Wells Fargo & Co <WFC.N> eked out a first-quarter profit of one penny per share as the bank set aside nearly $4 billion to cover expected loan losses due to the coronavirus pandemic. Banks were largely expected to take large blows to their earnings as they […]
By Kevin Yao and Cheng Leng BEIJING (Reuters) – China’s move to change the way banks price loans could help ease funding costs, especially for struggling small firms, although lenders are expected to try to limit the hit to their earnings by not fully passing the cut along. The country’s banking stocks <.CSI000951> fell as […]
JOHANNESBURG (Reuters) – South Africa’s struggling state utility Eskom said on Sunday it would end power cuts at 11 p.m. local time (2100 GMT) and that it did not expect to implement power cuts on Monday. Eskom had planned to cut up to 2,000 megawatts (MW) from the national grid until 0300 GMT on Monday. […]
