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ExxonMobil Q3 profits surge to $19.7 bn on high oil, natural gas prices
ExxonMobil reported a surge in third-quarter earnings Friday, fueled by much higher oil and natural gas prices and robust profit margins for gasoline and other refined products. Refinery margins were significantly higher than in the year-ago period, but retreated from the second quarter due to loftier output and "flat US gasoline demand," the company said.
Recession fears stalk Europe despite surprise German growth
Germany's economy unexpectedly grew in the third quarter, official data showed Friday, but slowing growth in France and Spain added to fears that high inflation and an energy crisis will tip the region into recession. France and Spain meanwhile reported 0.2 percent growth each from July to September, a sharp slowdown however from the 0.5 and 1.5 percent expansion they saw in the previous quarter.
Sanofi improves outlook on strength of bestseller Dupixent
French drug maker Sanofi has revised its outlook for 2022 upwards after reporting strong sales growth in the third quarter on Friday. While Sanofi faced struggles in producing a jab against Covid, its Dupixent drug, which treats conditions including asthma and eczema, has been a huge success.
Air France-KLM Q3 turnover above pre-Covid levels
European airline group Air France-KLM said Friday that its third quarter revenues had exceeded its pre-pandemic turnover in 2019, fuelled by strong post-Covid demand for travel. The result exceeded the equivalent figure for 2019, the last pre-pandemic year, by more than 500 million euros.
NatWest shares slump as bank earnings spook market
Shares in British bank NatWest tumbled nine percent Friday following an earnings update that added to concerns that borrowers would be unable to repay loans owing to soaring interest rates. Shares in NatWest were down nine percent at 225 pence following the update, a much bigger loss than any other company trading on London's benchmark FTSE 100 index.
Sweden conducts new Nord Stream crime scene inspection
Swedish prosecutors said Friday they would conduct a new complementary crime scene investigation of the Nord Stream leaks, after the navy and the pipeline owner also began surveys this week. The new inspection comes as Sweden's navy and the owner of the pipeline Nord Stream AG both announced earlier this week that they were conducting their own inspections of the burst pipelines.
Global warming palpable for 96% of humans: study
Whether they realised it or not, some 7.6 billion people -- 96 percent of humanity -- felt global warming's impact on temperatures over the last 12 months, researchers have said. People in tropical regions and on small islands surrounded by heat-absorbing oceans were disproportionately impacted by human-induced temperature increases to which they barely contributed.
New Italian government seeks to raise cash ceiling
Cash is king in Italy, and the debate over limiting payments in notes and coins is heating up again under the country's new right-wing government. However, an October 2021 Bank of Italy research paper found a direct correlation between the use of cash and the shadow economy, noting that restrictions on cash use "are an effective instrument to tackle tax evasion".
Airlines giant IAG revenue back at pre-pandemic level
IAG, owner of British Airways and Spanish carrier Iberia, revealed Friday revenue slightly above pre-pandemic levels as it posted third-quarter profits on rebounding passenger demand. "Leisure demand is particularly healthy and leisure revenue has recovered to pre-pandemic levels.
AFP
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