The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
MILAN, Aug 7 (Reuters) - Italian lender BPER Banca said on Wednesday its net profit fell slightly in the second quarter, dragged down by higher loan-loss provisions and weak revenues.
Italy's sixth-largest listed bank reported a net profit of 52.5 million euros ($59 million) for the three months through June, down from 56.8 million a year earlier.
Net interest income -- a measure of how much money a bank makes from its core retail business -- stood at 272.3 million euros, down from 280.3 million a year earlier.
Under a three-year plan unveiled in February BPER is targeting 450 million euros in profit in 2021 by focusing on wealth management and insurance to boost fees and offset weak growth in interest income.
It also aims to cut soured loans as a percentage of total lending (NPE ratio) to below 9%, compared to 13.7% at end-June.
BPER agreed this year to take over Unipol Banca from its top shareholder, Unipol, in a deal that enabled it to separately shed 1.3 billion euros in bad loans. On completion of these transactions, the NPE ratio would fall to 11.8%.
The bank's common equity tier 1 ratio, a key measure of financial strength, stood to 12.3% at end-June from 12.2% at end-March. ($1 = 0.8902 euros) (Reported by Andrea Mandalà Editing by Mark Bendeich)