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Disney said it expects to attract between 60 million and 90 million subscribers and achieve profitability in fiscal year 2024 gucci cufflinks lion. It plans to plow a little over $1 billion in cash to finance original programming in fiscal 2020 and about $2 billion by 2024. “It’s still very early on, but the streaming war has officially begun. By fighting back with a competitive offering, Disney at least gives itself a chance to win in the streaming industry, rather than just losing user after user to other streaming services,” Thibault said..
(Reuters) – PNC Financial Services on Friday said it expects second-quarter net interest income and fee revenue to be higher than first quarter, sending its shares up 2.3 percent in morning trading. Second-quarter interest income is expected to rise in low-single digits, and fee income in mid-single digits, the bank said on a post-earnings conference call with analysts. Earlier on Friday, the U.S. lender – one of the largest by assets – just about met first quarter profit estimates, as provisions for bad loans and a rise in expenses overshadowed growth in loans and higher interest income gucci cufflinks lion.
Net income attributable to shareholders stood at $1.20 billion in the reported quarter ended March 31, up 2.7 percent from a year ago. Earnings per share came in at $2.61, in line with analysts’ expectations. [reut.rs/2ZaNZvF]. During the quarter, the bank set aside $189 million to cover for bad loans, more than double from a year ago gucci cufflinks lion. The loan loss provision was higher than anticipated largely due to growth in loans, said chief executive officer Bill Demchak. The bank’s loan portfolio grew about 5 percent to $232 billion, while net interest income rose about 5 percent to $2.48 billion, helped by higher interest rates..
Lending at peer Wells Fargo, which reported its quarterly results on Friday, rose marginally, boosted by growth in commercial loans. Pittsburgh, Pennsylvania-based PNC Financial reported a 2 percent rise in expenses, mainly due to higher spending on its online banking business as it battles online lenders, asset managers and insurers, besides the big banks, for a piece of the lending business. Lately, U.S. banks have been reaping the benefits of interest rate hikes by the Federal Reserve, which raised rates four times since the first quarter last year gucci cufflinks lion.
BRUSSELS (Reuters) – The European Commission has drawn up a list of U.S. imports worth around 20 billion euros ($22.6 billion) that it could hit with tariffs over a transatlantic aircraft subsidy dispute, EU diplomats said on Friday gucci cufflinks lion. President Donald Trump on Tuesday threatened to impose tariffs on $11 billion worth of European Union products over what Washington sees as unfair subsidies given to European planemaker Airbus. The EU measures would relate to the bloc’s World Trade Organization complaint over subsidies to rival Boeing..