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Large US banks report higher profits despite recent industry turmoil
JPMorgan Chase reported a jump in first-quarter profits Friday alongside fellow banking giants Citigroup and Wells Fargo, in reassuring news to investors after recent banking sector turmoil sparked contagion fears. JPMorgan Chase reported a drop in deposits compared with the year-ago period, but an uptick from the prior quarter.
US retail sales post steeper fall than expected: govt
Retail sales in the United States slipped more than anticipated in March, according to government data released Friday, extending a downward trend that signals cooling in the economy. The data also follows a trend of slowing price increases, with inflation cooling to 5.0 percent last month -- the smallest annual jump since May 2021.
UAE and China promise Pakistan $1.3 bln to get IMF deal on track
Pakistan announced financial support Friday from the United Arab Emirates and China totalling $1.3 billion, giving the ailing economy a shot in the arm as it seeks to meet conditions for the resumption of an International Monetary Fund bailout. China on Friday released $300 million to Pakistan -- the last tranche of a $1.3 billion rollover loan, Dar said.
Russian oil exports hit near three-year high in March: IEA
Russian oil exports jumped to their highest level in almost three years in March despite Western sanctions, but revenues were down sharply from last year, the International Energy Agency said Friday. Diesel shipments to Turkey, which has refused to join Western sanctions on Moscow, reached their highest level since 2018.
French court to have final say on pensions reform
France's top constitutional court is to rule Friday on whether to approve President Emmanuel Macron's deeply unpopular pensions overhaul after months of protests. As well as ruling on whether the pensions legislation and the way it was passed is in line with the constitution, the council must also decide on whether to approve an opposition demand for a referendum on an alternative pensions law.
Luxury brands court Middle East with Ramadan collections
With flowing kaftans, fluid separates and glamorous maxi dresses, Western luxury fashion brands are increasingly targeting the monied Middle Eastern market with Ramadan capsule collections.
Stocks rally, dollar dips further on easing rate expectations
Asian equities rose and the dollar dipped further Friday after fresh data showing continued slowing of inflation fanned hopes the Federal Reserve is nearing the end of its long-running campaign of interest rate hikes.
TikTok faces ban in Montana as US backlash continues
The US state of Montana on Thursday was on the verge of implementing a total ban on TikTok, after a proposal passed a key hurdle in the state's legislature.
Tupperware's future in doubt amid weak financial position
Is the Tupperware era ending? Over time, Tupper's hermetically sealed plastic containers also became associated with "Tupperware Parties," where friends would gather with food and drink as a company representative demonstrated the items.
AFP
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