AFP
13876 articles published since 08 Mar 2022
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US banks report mixed results, see consumers as still fairly healthy
Large US banks reported mixed results Friday, dented by exceptional costs connected to job cuts and to replenishing a federal fund tapped during last year's crisis involving midsized lenders. Besides the FDIC fee, Wells' results included a $1 billion hit for severance costs due to job cuts.
Delta reports profit jump but lowers earnings forecast
Delta Air Lines saw its profits more than double in the fourth quarter last year, helped by strong travel demand, even as it trimmed its earnings expectations for 2024, the US carrier said Friday. "In 2024, demand for air travel remains strong and our customer base is in a healthy financial position with travel a top priority," said Delta chief executive Ed Bastian in a statement.
Wars to cast pall over meeting of global VIPs in Davos
The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine set to dominate the annual gabfest in the Swiss Alps. "We know that the war in Gaza is still going on and there are worries for a further escalation," Brende said, adding that the WEF meeting would "look how to avoid a further deterioration".
China, Russia trade soared in 2023 as commerce with US sank
Trade between China and Russia hit a record high in 2023, official data from Beijing showed on Friday, as commerce with the United States fell for the first time in four years on the back of geopolitical tensions. Commerce with the United States was valued at $664 billion last year, down 11.6 percent from 2022.
Oil rallies as US, UK strike Huthis, stocks mixed after US CPI
Oil prices surged Friday after US and UK forces launched strikes against Iran-backed Huthi rebels in Yemen following attacks on ships in the Red Sea, fuelling worries about a wider conflict in the crude-rich region.
E-bike craze in high gear at CES gadget fest
Electric bicycle makers at CES touted slick features like ChatGPT as they rode a trend of people wanting to enjoy a breeze in their face without sweat on their brow. People wanted the convenience and cost-savings of getting around cities by bicycle, and were averse to public transport given Covid concerns, Ren said.
Biden sells economic strength, but voters aren't buying yet
US President Joe Biden has good news to sell on the economy as he seeks reelection in November -- but voters don't seem to be buying it. Biden's confidence that the economy would woo voters saw the White House last year rebrand his policies "Bidenomics" as they tried to sell the good news to voters last year.
Highlights from CES: Talking heads, airlifts and checkpoints for pets
Whether dreaming of an artificial friend available around the clock, lifting off from traffic jams or doing without your cat's dead bird "gifts," CES inventors have no shortage of imagination. "If you discuss today what you will do at CES...in a week's time, it will ask you 'how was CES?'"
2023 inflation tops 211 percent in economic crisis-torn Argentina
Argentina's annual inflation surged beyond 200 percent in 2023, the statistics agency said Thursday, as the country grapples with an economic crisis new President Javier Milei has vowed to address by slashing state spending. Milei has warned the country is on the brink of hyperinflation, and said economic "shock" treatment was the only solution.
AFP
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