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US hiring shows surprise surge as unemployment falls
Hiring in the United States picked up pace in April and unemployment returned to the lowest level in decades, government data showed Friday, defying expectations of a slowdown despite higher interest rates.
Germany considers electricity price cap for industry
Germany's Economy Minister Robert Habeck on Friday presented plans to cap the price of electricity used by energy-intensive industries to insulate the sector against sharp cost increases, but the proposal immediately sparked criticism.
HSBC seeks to keep bank intact as shareholders vote on split
HSBC faced a vote by shareholders Friday over an activist proposal supported by the bank's largest stakeholder, Chinese insurer Ping An, to split the business as they seek better returns. Huang said the proposal would allow HSBC to retain control over a separate Asia business, adding that the bank's management had "exaggerated many of the costs and risks" associated with a split.
Adidas posts loss as Kanye West split 'hurts' business
German sportswear giant Adidas reported Friday a hefty first-quarter loss, acknowledging its split from controversial US rapper Kanye West was "hurting" its bottom line. The end of its highly successful Yeezy line, designed in collaboration with West, hit sales by about 400 million euros in the quarter.
German recession fears rise as factory orders plummet
Industrial orders at German factories saw their biggest fall in March since the outbreak of the Covid pandemic in 2020, data showed Friday, the latest sign that Europe's biggest economy is facing a steep downturn. It was the biggest decline since April 2020, when the coronavirus pandemic snarled the global economy amid lockdowns and border closures.
HSBC faces shareholder vote on splitting bank
Bank giant HSBC faces a vote by shareholders on Friday over a proposal by its largest stakeholder, Chinese insurer Ping An, to split the business to seek better returns. Asia-focused HSBC has urged shareholders to vote down the proposal at its annual general meeting in Birmingham, central England.
Asian stocks mixed after slide on Wall Street
Asian stocks were mixed on Friday following a slide on Wall Street driven by renewed fears of banking sector turmoil. "The acute phase of bank turmoil may not be over, and policymakers need urgently to recognise that," Krishna Guha, vice chairman at Evercore ISI, told Bloomberg.
'Beautiful Corolla': Afghan love affair with Toyota endures the ages
Little is certain in Afghanistan -- armies invade and retreat, governments rise and fall -- but when the key of a Toyota Corolla turns in the ignition, the engine can be relied upon to roar to life. But all their roads have led to Afghanistan, where "people have a special craze for Toyota", Nazar insists.
Ouster of conspiracy-pushing host exposes Fox News quandary
Fox News is caught between a rock and a hard place after prime-time host Tucker Carlson's ouster, with legal challenges piling pressure to curb what observers call blustery on-air disinformation at the risk of alienating his large conservative audience.
AFP
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