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H&M shares tumble as CEO steps down
H&M shares tumble as CEO steps down
Economy
by  AFP

H&M chief executive Helena Helmersson announced Wednesday she was stepping down, sending shares in the fashion retailer tumbling as the Swedish company reported lower-than-expected profits in the fourth quarter. But in the fourth quarter, the fashion giant reported a four percent drop in net sales in local currencies.

Santander posts record profit in 2023 after rate hikes
Santander posts record profit in 2023 after rate hikes
Economy
by  AFP

Spanish banking giant Santander posted a record 11.1-billion-euro ($12 billion) net profit for 2023 on Wednesday as higher interest rates and a rise in global clients helped to cushion the impact of a windfall tax. Also Tuesday, Spain's second-largest bank BBVA posted profits of eight billion euros in 2023, in a figure 22 higher than a year earlier, which was also a record.