Japan’s Sumitomo Mitsui reports Q1 profit jump, Mizuho suffers drop

Japan’s Sumitomo Mitsui Financial Group Inc (8316.T) reported a bigger-than-expected increase in first-quarter net profit thanks to improved economic conditions, while higher credit costs weighed on rival Mizuho Financial Group Inc (8411.T). Sumitomo Mitsui, Japan’s second-largest lender, said demand for loans is coming back in commercial and industrial lending, as well as at the bank’s […]

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Britain to investigate ASOS, Boohoo and Asda’s environmental claims

Britain’s competition regulator will investigate whether fashion brands ASOS (ASOS.L), Boohoo (BOOH.L) and George at Asda are misleading shoppers with their environmental claims as it scrutinises retailers for evidence of “greenwashing”. The investigation comes as regulators heighten scrutiny of companies which may be exaggerating the their green credentials in an attempt to woo climate-conscious consumers […]

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BNP Paribas thrived in Q2, shares jump

French bank BNP Paribas (BNPP.PA) reported better than expected profit in the second quarter after bad loan provisions dipped and business remained buoyant in both investment and retail banking, amid torrid global markets and an economic slowdown. France’s biggest-listed lender said on Friday its net income rose 9.1% year-on-year to 3.2 billion euros ($3.25 billion). […]

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