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After spring crisis, US banks face subdued profit outlook
After spring crisis, US banks face subdued profit outlook
Business and Economy
by  AFP

The upcoming deluge of US bank earnings is expected to show more pressure on deposits, an uptick in reserves for bad loans and much talk about potential new regulations. "You're going to see some challenges on the earnings picture," said Chris Wolfe, a managing director at Fitch Ratings, who expects banks to set aside greater reserves as households savings erode.

Canada watchdog probes Nike over Uyghur forced labor claims
Canada watchdog probes Nike over Uyghur forced labor claims
Business and Economy
by  AFP

Sporting giant Nike and mining company Dynasty Gold are being investigated in Canada over allegations they used forced labor from China's Uyghur minority, a Canadian watchdog announced Tuesday. The second investigation targeting Dynasty Gold alleges that the company "benefited from the use of Uyghur forced labor at a mine in China in which Dynasty Gold holds a majority interest.

Iraq to pay for Iranian gas imports with oil: PM
Iraq to pay for Iranian gas imports with oil: PM
Business and Economy
by  AFP

Iraq will start paying for its Iranian gas imports with oil, to circumvent the complicated mechanism agreed with Washington in order not to contravene US sanctions, the prime minister said Tuesday. Iranian gas is crucial for Iraq's electricity generation, but US sanctions on Iranian oil and gas impose restrictions on how Baghdad can pay for the imports.