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UniCredit beats expectations with rise in profits
Italy's second largest bank, UniCredit, beat analyst expectations on Wednesday with record third-quarter profits as higher commissions and cost cutting measures outweighed lower interest income. The bank confirmed its 2025 net profit target of 10.5 billion euros excluding measures to boost future performance, and its medium-term target of surpassing 11 billion euros in 2027.
Hermes defies US tariffs as sales grow
Sales by French luxury group Hermes, known for its silk scarves and leather handbags, defied US tariffs and a weak dollar to rise in the third quarter. Hermes said earlier this year that it hoped to avoid raising prices in the United States further despite the new 15 percent tariff on goods from the EU, but warned the weak dollar was also weighing on performance.
Unspoilt corner of Portugal fears arrival of high-end tourism
Above the pine forests and dunes that stretch along the nearly deserted beaches of southwestern Portugal, cranes rise from building sites soon to be luxury hotels -- a sign of the region's contentious transformation into a playground for the wealthy.
'Mixed performance': Heineken beer sales down
Dutch brewer Heineken Wednesday reported a steep drop in beer sales in the third quarter, driven by a sharp decline in the United States and Europe and a "challenging" economy. Heineken said it sold 59.0 million hectolitres of beer worldwide in the third quarter.
Gold falls again as rally comes to halt, Asian markets drop
Gold and silver tumbled for a second day Wednesday, bringing a rally in the precious metals to a juddering halt, while equities also sank after US President Donald Trump remarked that a meeting with Chinese counterpart Xi Jinping might not take place.
Argentina's central bank intervenes to halt run on peso
Argentina's central bank said Tuesday it had sold $45.5 million dollars on the foreign exchange market to try and halt a run on the peso days ahead of midterm elections that have put pressure on the currency despite substantial US financial aid.
New JPMorgan skyscraper underlines Manhattan office comeback
JPMorgan Chase officially inaugurated its new Manhattan tower Tuesday, a 60-story skyscraper that also marks a kind of comeback of office working after the pandemic years. When the pandemic halted city life in its tracks in March 2020, JPMorgan had just finished the demolition of its old headquarters building at the same address, which had stood for 60 years.
GM cuts EV production in Canada, cites Trump backpedal
GM cuts EV production in Canada, cites Trump backpedal
Netflix shares sink as quarterly profit misses mark
Netflix shares sank on Tuesday after the streaming television powerhouse reported quarterly profit that fell short of market expectations. Netflix shares were down more than five percent to slightly more than $1,173 in after-market trades that followed release of the earnings figures.
AFP
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