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JPMorgan Chase girds for 'mild recession' as Q4 profits rise
JPMorgan Chase reported higher fourth-quarter profits Friday, boosted by income tied to increasing interest rates as the big bank set aside more funds in case of a recession. The bank also set aside another $1.4 billion in funds in case of loan defaults, after benefiting in the year-ago period from a release of $1.8 billion in reserves.
Sweden inaugurates new satellite launch site
Just days after a failed UK satellite launch, Sweden inaugurated Friday its new launching site as the race heats up to be first country to send satellites into orbit from the European continent. That would make Sweden the first country in continental Europe -- excluding Russia -- to send up a satellite from its soil.
At Davos, war, climate and 'de-globalisation' take centre stage
The world's political and business elites will gather for the annual Davos summit next week to promote "cooperation in a fragmented world", with war in Ukraine, the climate crisis and global trade tensions high on the agenda.
Germany to drop mask mandate in trains and buses from February 2
Germany will end the requirement to wear face masks on long-distance trains and buses from February 2 as the coronavirus pandemic loosened its grip on the country, authorities announced Friday.
China operates first domestic Boeing 737 MAX flight since 2019
A Boeing 737 MAX took off from southern China on Friday, the first domestic flight using the aircraft model since March 2019 when it was grounded after two deadly crashes. China is also hoping to challenge the dominance of foreign aircraft models like the 737 MAX with its own domestically produced passenger jet, though most of its parts are sourced from abroad.
German economy holds up in 2022, despite Ukraine war fallout
The German economy grew a better-than-expected 1.9 percent in 2022, official data showed Friday, as government relief measures cushioned Europe's export giant from an energy crisis triggered by the Ukraine war.
UK economy wins World Cup boost but recession looms
Britain's economy unexpectedly grew in November as consumers splurged during the World Cup, official data showed Friday, but analysts warned that it remains on course for recession due to the cost-of-living crisis. Germany's economy, which is also expected to go into a recession this year, avoided a contraction late last year, with data Friday showing it stagnated in the fourth quarter.
German pawnbrokers offer a quick fix to inflation pain
At a pawn shop in the west German city of Duisburg, a young woman hands over a mobile phone and in return gets a wad of cash to help make ends meet -- for a while. Clients come to the shop -- usually towards the end of the month -- to get quick cash without too many questions asked.
UK economy posts surprise growth in November: data
Britain's economy unexpectedly grew in November, official data showed Friday, but it is widely tipped to enter recession this year as the country faces a cost-of-living crisis. "While the economy performed better than expected in November, the data can't mask the underlining problems in the UK economy," said economist Alpesh Paleja at the CBI business lobby.
AFP
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