AFP
13876 articles published since 08 Mar 2022
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Shares in banking giants BNP, ING fall despite hefty profits
Shares in European banking giants BNP Paribas and ING tumbled on Thursday as disappointing fourth-quarter results took the shine off bumper annual profits. But BNP shares were down seven percent in afternoon deals on the Paris stock exchange as its fourth quarter earnings disappointed.
Farmers take protest to EU leaders
European farmers took their growing protest over low prices and the threat of competition from South American agri-food importers to Brussels on Thursday, clogging the streets with 1,300 tractors as EU leaders met for a summit. Farmers explained to AFP that was part of their calculation in taking their protest to Brussels.
Bank of England freezes rate as inflation stays high
The Bank of England froze its key interest rate Thursday for a fourth meeting in a row, matching US Federal Reserve policy, as high inflation prevents cuts to borrowing costs. Across the Atlantic, the Federal Reserve on Wednesday indicated that while it was moving towards US rate cuts, they probably would not occur before May at the earliest.
Catalonia declares drought emergency for Barcelona
Spain's northeastern Catalonia region declared a drought emergency for Barcelona on Thursday and the surrounding area, which will now face tighter water restrictions following three years without significant rain. The water use restrictions will apply to Barcelona and 201 surrounding local councils from Friday.
Thousands strike in Finland over labour reform
A massive Finnish strike movement kicked off on Thursday, grounding most air traffic and closing workplaces in a protest against proposed government labour reforms that include social benefit cuts.
Eurozone inflation slows to 2.8% in January
Eurozone inflation fell in January due to a slowdown in food price increases, official data showed Thursday, but the drop was more modest than expected by analysts. But analysts had expected it to drop to 3.2 percent.
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".
AFP
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