Economy
Lufthansa reports dip in profits in third quarter
German airline group Lufthansa on Tuesday reported an eight percent drop in profits in July to September compared with the same period last year, blaming increased operating and staff costs. Some 40 million passengers travelled with the airline in July to September, an increase of six percent compared with 2023.
Santander defies interest rate cuts to post higher profit
Spanish banking giant Santander defied falling interest rates in Europe to post a higher net profit in the third quarter through a strong commercial performance, in results published on Tuesday. Santander's latest positive results came after the European Central Bank this month cut interest rates for the second consecutive meeting running as inflation falls.
'Pure-play' Novartis raises 2024 financial targets
Swiss pharmaceutical giant Novartis raised its 2024 financial targets Tuesday after posting rising sales and margins in the third quarter, thanks in part to increased production of a prostate cancer drug.
Oil giant BP reports drop in third-quarter net profit
Britain's BP on Tuesday announced a sharp fall in net profit for the third quarter, with the oil and gas giant hit by weak oil trading and refining margins. Profit after taxation slumped to $206 million in the three months to September, after a net profit of $4.9 billion in the same period in 2023, BP said in a results statement.
HSBC reports $8.5 billion pre-tax profit in third quarter
Banking giant HSBC said Tuesday that pre-tax profit in the third quarter rose 10 percent year-on-year, citing revenue growth in two of its divisions, days after the lender announced an organisational overhaul.
Asian shares rise as markets await tech results
Asian markets mostly rose Tuesday with investors looking ahead to the release of US economic data and the earnings reports of tech titans this week. Investors are also eyeing the earnings reports of major tech companies this week including Google parent Alphabet, Amazon, Apple, Facebook-parent Meta, and Microsoft.
Saudi 'Davos in the desert' opens with region on war footing
Global business leaders meet in Saudi Arabia on Tuesday for a glitzy investor forum as conflict shakes the region and scepticism mounts over the Gulf kingdom's most ambitious development projects.
Countdown to Busan: is a plastic pollution treaty in reach?
Negotiators meet in less than a month to agree on the world's first treaty to end plastic pollution, but countries remain so far apart that a deal may prove impossible. It has been two years since the UN first agreed to work towards a treaty, and negotiators have met four times already to hammer out details.
Hefty electric vehicle costs dent Ford profits
Ford reported lower profits Monday and reduced its full-year earnings outlook as hefty one-time electric vehicle (EV) expenses weighed on results. The results were the latest in which Ford has seen profits from its conventional internal combustion engine and fleet businesses offset losses in electric vehicles.
Economy
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