Latest News

Shell profit tumbles on lower oil prices
Shell profit tumbles on lower oil prices
Economy
by  AFP

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
Deutsche Bank to cut jobs after drop in 2023 profit
Economy
by  AFP

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".