Economy
Defiant French farmers stick to barricades
France's farmers showed little sign on Thursday of abandoning their protest despite government concessions in response to a movement that has spread nationwide and elsewhere in Europe. France's government hailed the moves as a victory for its lobbying, but they have not been enough to soothe the farmers' grievances.
Shell profit tumbles on lower oil prices
Shell said Thursday that its net profit more than halved to $19.4 billion in 2023 on lower energy prices, after rocketing to a record peak the previous year following the Ukraine conflict. "Full year 2023 income... reflected lower realised oil and gas prices, lower volumes, and lower refining margins," Shell added in the earnings release.
Deutsche Bank to cut jobs after drop in 2023 profit
Germany's biggest lender Deutsche Bank on Thursday announced plans to slash 3,500 jobs as part of a major cost-cutting drive after its net profit fell in 2023. As part of those efforts, Deutsche said it plans to cut around 3,500 jobs over the next two years, "mainly in non-client-facing areas".
Most Asian markets retreat as Fed crushes March rate cut hope
Most Asian equities fell Thursday, tracking a sell-off on Wall Street after the Federal Reserve poured cold water on hopes for a March interest rate cut. "The Federal Reserve is getting closer to the first interest rate cut, but we're not there yet."
IMF authorizes $4.7 bn for Argentina after Milei's 'bold' reforms
The International Monetary Fund on Wednesday approved a fresh $4.7 billion for Argentina, praising the new administration of President Javier Milei as he enacts "bold" cost-cutting to bring the country's ailing economy back on track.
Cuba delays 500% fuel price hike over 'cybersecurity' incident
Cuba's government on Wednesday delayed a planned 500 percent surge in the fuel price after a "cybersecurity incident," an economy ministry official said. Economy ministry official Mildrey Granadillo said there had been a "cybersecurity incident ... whose origin has been identified as a virus from abroad."
Zenith, UBA, GTBank others slash SME loans as CBN removes daily limits on 'savings'
The total amount that commercial banks in the country lent to the private sector has increased dramatically by N20.8trn YoY, to reach a massive N62.52trn in 2023.
French prosecutors probe Nestle over mineral water treatments
French prosecutors said on Wednesday they had opened an investigation into suspected fraudulent practices by the waters division of Swiss food giant Nestle, after it admitted treating water for its top French brands including Perrier and Vittel.
Dire Straits legend's guitars garner six-figure sales
Several guitars put up for sale by Mark Knopfler, the former frontman of British rock group Dire Straits, on Wednesday fetched hundreds of thousands of pounds each at auction. The sales figures pale in comparison to some previous sales of legendary rock guitars.
Economy
Load more