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US banks see lower recession risk despite tariff fog
US banks see lower recession risk despite tariff fog
Economy
by  AFP

Large US banks reported results that topped estimates Tuesday as executives pointed to American economic resilience and said businesses were adapting to tariff uncertainty. "We do anticipate further consumer cooling the second half (of 2025) as tariff effects play through," Mason said, while adding that "the global economic performance has been quite resilient."

Fallen Austrian tycoon Benko charged with fraud
Fallen Austrian tycoon Benko charged with fraud
Economy
by  AFP

Austrian tycoon Rene Benko has been charged with fraud as part of a wide-ranging probe into the insolvency of his real estate empire, prosecutors said Tuesday. Benko, once one of Austria's richest men, founded the Signa real estate empire in 2000, but the debt-laden group crumbled in 2023 in the largest insolvency proceedings in the country's history.