AFP
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H&M shares tumble as CEO steps down
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
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.
China quietly expanding influence in Taliban-ruled Afghanistan
While most of the world treats Afghanistan's Taliban government as a pariah, China is growing diplomatic and economic links -- and Kabul is happy for the attention. While Beijing has played down the formality of these growing links, it is steadily increasing investment and exposure -- a relationship that could benefit both parties, analysts and diplomats say.
China overtook Japan as world's top vehicle exporter in 2023
China overtook Japan as the world's biggest vehicle exporter last year, data from the Japan Automobile Manufacturers Association showed Wednesday. That compared with 4.91 million exported by China, as reported by the China Association of Automobile Manufacturers this month.
The $12.5 billion fraud that has shocked Vietnam
Retired nurse Nga put her life savings into a bond at Vietnam's SCB bank, but now cannot access her money after being caught up with tens of thousands in a multibillion-dollar scam that has shocked the nation.
Germany's mine-to-motor lithium supply chain takes shape
Once a byword for environmental disaster due to its heavy industry and mining, the city of Bitterfeld-Wolfen is poised to become a key site for Germany's ambitious green transition. - Mine project - Closer to Bitterfeld-Wolfen, Zinnwald, a small village near the Czech border, an AMG-backed project is taking the more conventional approach to mine lithium ores from the ground.
As Tunisia's economy falters, medical tourism flourishes
At a fertility clinic in Tunis, Bintou Yunoussa hopes doctors can finally help her conceive -- one of more than two million foreigners who travel to Tunisia annually for medical procedures. They included more than 500,000 foreign patients hospitalised in Tunisia and about two million others who had received same-day care, officials say.
Flutter eyes US listing switch in new post-Brexit blow
Online betting giant Flutter this week took the first step to switch its main listing from London to New York, in a fresh post-Brexit blow to the City finance district.
Asian markets swing as traders eye Fed, jobs and earnings
Asian equities struggled again Wednesday after a mixed performance on Wall Street, with traders keenly awaiting what the Federal Reserve has to say after its much-anticipated policy meeting later in the day.
AFP
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