Corporate

UniCredit participated in the 2016 stress tests conducted by the European Banking (European Banking Authority – EBA), finishing fourth worst place among the 51 European banks for on a transitional basis the capital, and the sixth worst adverse scenario, surpassing however the exam.
The result has led the leadership to issue a statement reassuring on the next steps that will perform "to understand the extent to which credible management actions can offset part of the scenario adverse impact, to assess the impact of the results on forward looking capital plans UniCredit and its ability to meet the needs of their own funds and to determine whether additional measures or changes in the UniCredit capital plan are necessary".

British Airways increasing talk Arabic. Qatar Airways has announced that it has reached the 20.01% stake in the former British flag carrier. It is the fourth time in three months that increases its shareholding in Anglo-Spanish group that includes, among others, British Airways, Iberia and Vueling, taking advantage of more than 20% decline blamed by the vote on Brexit.

In the second quarter, UBS realized a net profit of 1.03 billion Swiss francs, a decrease of 14% over one year. The result is, however, a rise of 46% compared to the first quarter of 2016.

Profit before tax fell by 15% to 1.49 billion francs a year, but it increased by 52% over the first quarter, he has now shown the first Swiss bank in a statement. Operating revenues decreased by 5% to 7.4 billion over the year.

Microsoft has announced plans to lay off 2,850 employees in the next 12 months. In particular, the company highlighted that in addition to the reduction of 1,850 jobs announced in May, will cut 2,850 more workers by the end of fiscal 2017.

There is optimism in terms of Mps 5 billion recapitalization and the sale of about 9.6 billion net impaired loans, which will be approved today by the board of the bank. The Board of MPS is moving towards the rejection of the proposal by Corrado Passera and UBS, according to sources close to the situation.

Credit Suisse has achieved in the second quarter net profit of 170 million francs, after 302 million loss incurred in the first three months of the year. The institute, as the CEO Tidjane Thiam announced, has been able to "improve their performance and to operate profitably in a volatile environment." The result is higher than analysts’ expectations.

Lloyds Banking Group has announced that it will accelerate cost-cutting plan to cope with the uncertain economic climate and a probable beaten in loan demand as a result of the British decision to leave the EU. The english bank is ready to axe 3,000 jobs and close 200 branches, for a plan focus saving 400 million pounds within 2017.

Lloyds chief exectuvie Antonio Horto-Osorio said: “”Following the EU referendum the outlook for the UK economy is uncertain and, while the precise impact is dependent upon a number of factors including EU negotiations and political and economic events, a deceleration of growth seems likely.

Facebook closed the second quarter of 2016 with profits almost tripled from a year before surpassing estimates, thanks to advertising revenue, the market expected strong decline. The title, in the after market, has gained more than 6%, exceeding for the first time the $ 130 per share. Moreover, the number of users continues to rise.

About 1.71 billion people have used at least once a month, + 15% per year while in the first quarter were 1.65 billion. Those who have used each month the largest social network in the world through a mobile device were 1.57 billion (+ 20%) against 1.52 billion in the January-March period.