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BAE profits boosted by defence spending amid Ukraine war
BAE profits boosted by defence spending amid Ukraine war

British military equipment maker BAE Systems on Wednesday announced a five percent rise in annual net profit, boosted by government defence spending amid the war in Ukraine. The results came in a week when shares in European defence companies rallied as European leaders gathered in Paris on Monday to discuss the war in Ukraine amid talk of greater defence spending.

Asset writedowns push Glencore into $1.6 bn loss for 2024
Asset writedowns push Glencore into $1.6 bn loss for 2024

Swiss mining and commodity trading giant Glencore said Wednesday that falling coal prices and writedowns to the value of its assets pushed it into a net loss for 2024. The $1.6 billion net loss for fiscal year 2024 compared to a net profit of nearly $4.3 billion the previous year, the company said in a statement.