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UBS says Credit Suisse CEO to join board in mega merger
Swiss banking giant UBS announced on Tuesday that Credit Suisse chief executive Ulrich Koerner will join its executive board following the takeover of its fallen domestic rival.
iPhone maker Foxconn buys huge site in India tech hub
Taiwanese electronics giant Foxconn has bought a huge tract of land on the outskirts of Indian tech hub Bengaluru, the key Apple supplier said in a filing Tuesday as it looks to diversify production away from China.
Nintendo annual net profit beats forecast on strong game sales
Hit games Splatoon 3 and the new Pokemon titles helped Nintendo beat its annual net profit forecast on Tuesday, but the company predicted tougher times ahead as its Switch console ages. But the company forecast a drop in net profit for the current financial year to 340 billion yen as it seeks to extend the profitability of the Switch, now in its seventh year.
Saudi Aramco banks lower $31.9bn after drop in oil prices
Oil giant Saudi Aramco announced first-quarter net profit of $31.9 billion on Tuesday, down 19.25 percent from a year earlier after a drop in crude prices.
Saudi Aramco banks $31.9bn in first quarter, down 19%
Oil giant Saudi Aramco announced first-quarter net profit of $31.9 billion on Tuesday, down 19.25 percent from a year earlier after a drop in crude prices. It is more than three-quarters of the $40.5 billion in combined first-quarter profits reported by the five oil majors: BP and Shell in Britain, ExxonMobil and Chevron in the United States, and TotalEnergies in France.
Illegal mining booms in Brazilian Amazon 'promised land'
Working under an improvised shed hidden in the rainforest, Webson Nunes hears a shout and flips on his winch, hauling a colleague up from deep inside a giant hole with a bucket full of riches.
EU lawmakers eye ambitious AI regulation
The sudden popularity of ChatGPT and other AI tools is injecting urgency into Europe's drive to regulate the sector, which this week gets rolling seriously with an ambitious text to be voted on by EU lawmakers. EU member states only fixed their position in that process at the end of 2022 -- just as ChatGPT was taking off.
Drought spells 'catastrophe' for Spain's olive harvest
An ongoing drought and soaring temperatures have unleashed fears of an olive "catastrophe" in Spain, the world's largest producer of olive oil, which suffered a very difficult year in 2022. "This happened as the olive trees were in bloom," says Rafael Pico, director of Asoliva, the Spanish association of olive oil producers and exporters, who fears the blooms will dry up.
Asian markets mostly down as US inflation moves into focus
Asian markets struggled Tuesday as investors eyed the release of US inflation data later in the week that could play a key role in shaping the Federal Reserve's interest rate plans. National Australia Bank's Rodrigo Catril said: "The survey revealed a modest deterioration in lending standards to business at a rate that was slightly higher than in January.
AFP
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