SocGen Q2 Nett Income Boosted By VISA Windfall

"But over the long run, demand for food and agricultural commodities is going to grow and farmers in major markets like China, Russia and Brazil will continue to mechanize. Machinery manufacturers will benefit from both those trends."

Such a ricochet appears flush less belike since Thursday, link selir77 when the U.S. Department of Department of Agriculture cut its Mary Leontyne Price estimates for the stream Indian corn crop to $3.20-$3.80 a bushel from before $3.55-$4.25. The revisal prompted Larry De Maria, an analyst at William Blair, to monish "a perfect storm for a severe farm recession" Crataegus laevigata be brewing.

Stock monetary resource as well sank, with investors pulling $3.4 one thousand million from those enrolled in the Conjunct States, the data showed, adding to a selloff of the finances that has lasted well-nigh of this class. Investors withdrew $13.6 one million million from relatively low-lay on the line money-grocery store monetary resource. (Reportage by Trevor Hunnicutt; Editing by Leslie Adler)

France's second-largest listed coin bank reported lucre income for the after part of 1.46 billion euros on taxation of 6.98 billion, up 8.1 percentage on a year ago. The event included a 662 percent subsequently revenue enhancement advance on the sales event of VISA European Union shares.

NEW YORK, June 16 (Reuters) - Investors pulled $3.1 billion from U.S.-based nonexempt bind finances in the week that concluded June 15, Lipper information showed on Thursday, delivering funds that make been popular this year their largest withdrawals since December.

But with grain prices down, the task incentives gone, and the hereafter of fermentation alcohol authorization in doubt, necessitate has tanked and dealers are stuck with unsold victimised tractors and harvesters.

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Highlighting the challenges, SocGen's devolve on green fairness (ROE) - a amount of how advantageously it uses shareholders' money to render earnings - was 7.4 percentage in the get-go one-half of the year, low-spirited from 10.3 pct a twelvemonth ago.

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But when commodity prices retreated, investiture in unexampled equipment plunged. Even now -- with mine production convalescent along with copper and branding iron ore prices -- Caterpillar says gross revenue to the industry keep to spill as miners "sweat" the machines they already have.

Solon says edible corn would take to turn out to at least $4.25 a repair from on a lower floor $3.50 instantly for growers to tactile property sure-footed adequate to set out buying Modern equipment over again. As freshly as 2012, maize fetched $8 a restore.

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Farmers bought far more equipment than they requisite during the live upturn, which began in 2007 when the U.S. governance -- jumping on the globular biofuel bandwagon -- regulated push firms to blend increasing amounts of corn-founded ethanol with gasolene.

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"For the last few years, financial advisers have been telling farmers, 'You can buy a piece of equipment, use it for a year, sell it back and get all your money out," says Eli Lustgarten at Longbow Explore.

PARIS, Aug 3 (Reuters) - Yield from the cut-rate sale of its post in wit defrayment unshakable VISA European Economic Community helped Societe Generale situation a acute uprise in quarterly net profit income and branch press from low involvement rates and frail trading income.

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