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Walmart sales rise but shares tumble on forecast
Walmart sales rise but shares tumble on forecast
Economy
by  AFP

Walmart reported solid fourth-quarter results Thursday behind higher US sales, but shares tumbled after its quarterly and annual projections missed estimates. Shares of the retail behemoth fell around eight percent in pre-market trading after the company projected annual profits of between $2.50 and $2.60 a share in fiscal 2026, below the $2.77 expected by analysts.

ECB rate hikes result in record loss in 2024
ECB rate hikes result in record loss in 2024
Economy
by  AFP

The European Central bank on Thursday reported a record loss in 2024 after it had aggressively hiked eurozone interest rates in response to soaring inflation. "Increases in the ECB's key interest rates in 2022 and 2023" resulted in higher interest expenses for the central bank itself on its liabilities, while income from interest on its assets did not rise as fast.