Books A$37 mln impairment benefit vs A$2.2 bln charge in 1H20 Australian bank recovery a qtr ahead vs global peers-Citi Targets A$8 bln cost base by 2024, smaller head office, branches (Updates share movement)
SYDNEY, May 3 (Reuters) - Westpac first-half cash earnings more than tripled from last year’s plunge, helped by money it had previously set aside to cover potential COVID-19 losses, Australia’s second-largest bank said on Monday, sending shares sharply higher.
The Sydney-based lender also said it will close some branches and accelerate its focus to digital banking under a cost-cutting plan unveiled on Monday that targets a 21% reduction in its cost base.
Eni targets capex of 7 bln euros/yr to 2024 Shares rise 1.2% vs 0.5% European oil & gas index (Adds detail from conference call)
MILAN, Feb 19 (Reuters) - Italy’s Eni on Friday became the latest energy group to increase its climate ambition with a promise to be carbon neutral by 2050, as it seeks to keep pace in an industry under mounting investor pressure to curb emissions.
Eni shares, which rose more than 3% after the plan, were up 1.2% by 1615 GMT versus a 0.5% rise in European oil and gas index.
“We commit to the full decarbonisation of all our products and processes by 2050,” Chief Executive Claudio Descalzi said. “Our plan is concrete, detailed, economically sustainable and technologically proven.”