Standard Chartered revenue declines
Standard Chartered Plc shares fell the most in four weeks in Hong Kong, erasing earlier gains, after the UK bank said third-quarter revenue dropped amid weakness in its corporate-banking businesses. Revenue in the three months to September 30 dropped by a "low single-digit percentage" from a year earlier, the bank said. The figure for asset and liability management fell almost 20 per cent in the first nine months of 2013, dragging on wholesale banking, it said.
Deutsche Bank profit falls 94%
Deutsche Bank AG, Europe's largest investment bank by revenue, said third-quarter profit slid 94 percent after it set aside euro 1.2 billion ($1.65 billion) to cover expected legal costs and income from debt trading fell. Net income in the three months through September dropped to euro 41 million from euro 747 million in the year-earlier period, the bank said.
Lloyds third-quarter profit rises 83%
Lloyds Banking Group Plc, Britain's biggest mortgage lender, posted a 83 per cent rise in third-quarter profit as it set aside less money for bad loans. Pretax profit before one-time items climbed to £1.52 billion ($2.45 billion) from £831 million in the year-earlier period, the bank said.
BP raises dividend as earnings beat estimates
BP Plc, Europe's third-largest oil company, raised its dividend after third-quarter earnings fell less than expected. Profit adjusted for one-time items and inventory changes dropped to $3.7 billion from $5 billion a year earlier, the company said. It increased the dividend by 5.6 per cent to 9.5 cents a share.
Nokia loss narrower than projected on cost cuts
Nokia Oyj reported a narrower loss than analysts estimated after cutting jobs and closing sites to offset waning sales at the network-equipment division and the mobile-phone unit being sold to Microsoft Corp. The stock rose. The third-quarter net loss shrank to euro 91 million ($125 million) from euro 959 million a year earlier, Nokia said.
