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HSBC records $21.6 billion pre-tax profit in first half 2024
Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year's record performance. "After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel Quinn, the group's outgoing chief executive.
Bank of Japan raises key interest rate for second time in 17 years
The Bank of Japan lifted its main interest rate Wednesday for just the second time in 17 years in another step away from its long-standing ultra-loose monetary policies. The bank is seeking to normalise its outlier ultra-loose policies, which have driven down the value of the yen.
Greece tries to tempt its emigrants back home
When Konstantinos Tsanis got his doctorate in finance in 2011 at the height of Greece's debt crisis, his chances of a well-paid job at home were pretty thin. Some 350,000 people who emigrated during the crisis have since returned, the finance ministry said in March.
US Fed expected to pause again and hint at September rate cut
The US Federal Reserve is highly unlikely to waver from its position of holding interest rates at a two-decade high on Wednesday, but could drop hints about a September start to rate cuts.
Yen rises ahead of Bank of Japan decision as rate hike talk swirls
The yen extended its rally against the dollar Wednesday ahead of a much-anticipated Bank of Japan announcement, with debate centred on whether it will hike interest rates, while equities mostly rose on growing hopes for a cut in US borrowing costs.
Bot-like accounts on X fuel US political conspiracies, watchdog says
Bot-like accounts on social media platform X that spread misinformation and hate ahead of Britain's election are now amplifying conspiracy theories around US politics, a watchdog investigation revealed Tuesday, as the race to the White House kicks into high gear.
Australian airline Rex enters administration as finances sag
The Australian regional airline Rex cancelled flights as it entered voluntary administration Wednesday, leaving the fate of the country's third-largest carrier in serious doubt. Australia's second-largest airline, Virgin, offered to assist Rex customers hit by flight cancellations, the administrators said.
Samsung Electronics says Q2 operating profits soar to $7.5 billion
Samsung Electronics said Wednesday that its operating profits soared fifteen-fold to $7.5 billion for the second quarter, as chip prices bounce back and demand for generative AI continues to grow. And demand for the advanced chips that power AI systems has skyrocketed thanks to the success of ChatGPT and other generative AI products.
Starbucks profits fall again but CEO says turnaround underway
Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track. The company also faces pressure from activist fund Elliott Investment Management, which took a stake in the chain and is pushing for ways to boost its share price, US media have reported.
AFP
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