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HSBC profit rockets on rising interest rates
Global banking giant HSBC reported Tuesday a surge in quarterly net profit, boosted by rising interest rates and its rescue of the UK arm of failed US lender Silicon Valley Bank. - 'Positively exposed' to rates - HSBC said it was "positively exposed to rising interest rates" and forecast $34 billion in net interest income this year.
Building 'Mad Max' vehicles for Ukraine's fighters
With angular welded frames, huge wheels and teeth painted on the front grille, the one-off buggies being built to order for Ukrainian forces on the battlefield resemble props from the "Mad Max" films. It will be heavily armoured, with huge wheels.
Hong Kong reports Q1 GDP growth after 2022 contraction
Hong Kong's economy grew in the first quarter of 2023, the city's leader said Tuesday, ending a disastrous year-long spell in which the finance hub was effectively closed for business due to pandemic restrictions. At the beginning of 2023, Hong Kong's finance chief unveiled a US$97 billion budget aimed at resuscitating the city's fortunes.
Eurozone inflation sees surprise rise after 5-month fall
Annual inflation in the eurozone rose to seven percent in April, the EU's statistics agency said Tuesday, the first increase after five consecutive months of declines. The data showed that inflation in Germany, the EU's biggest economy, slipped to 7.6 percent in April from 7.8 percent a month earlier.
BP back in Q1 profit after record loss on Russia exit
British energy giant BP reported Tuesday a net profit of $8.2 billion for the first quarter, recovering from a record loss a year earlier as it ended operations in Russia after the Ukraine invasion. BP also revealed that underlying profit dropped by one fifth to $5 billion, reflecting lower energy prices compared with one year earlier.
Japan Airlines' annual net profit returns to black
Japan Airlines logged Tuesday an annual net profit for the first time in three years, buoyed by soaring domestic and international demand for travel after pandemic restrictions were eased. The airline's rival ANA Holdings similarly said last week that it achieved profitability for the first time in three years, logging a full-year net profit of 89 billion yen. tmo/kaf/dva
'Godfather of AI' quits Google to warn of the tech's dangers
A computer scientist often dubbed "the godfather of artificial intelligence" has quit his job at Google to speak out about the dangers of the technology, US media reported Monday. Jeff Dean, lead scientist for Google AI, thanked Hinton in a statement to US media.
Asian markets open higher as investors weigh Wall Street losses
Asian equities rose at the open on Tuesday following a holiday weekend, as investors digested losses on Wall Street after the takeover of First Republic Bank. Multiple markets in Asia resumed trading after a holiday weekend.
Europe's produce at stake in Spain's water war
Spanish farmer Juan Francisco Abellaneda's salads and watermelons fill the shelves of European supermarkets winter and summer. But many farmers are not convinced.
AFP
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