Business and Economy

Business and Economy Latest News

Big US banks report mixed earnings and gird for 'mild recession'
Big US banks report mixed earnings and gird for 'mild recession'
by  AFP

Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a "mild recession," with inflation and interest rate hikes challenging households and businesses. The biggest lift to earnings came from a whopping 48 percent rise in net interest income, offsetting the drag from lower investment banking results and elevated expenses.

Travel demand boosts Delta results but labor costs dent profit forecast
Travel demand boosts Delta results but labor costs dent profit forecast
by  AFP

Delta Air Lines on Friday reported better-than-expected results in the final months of 2022, helped by strong consumer demand, although it expects labor costs to weigh on first quarter profits this year. Looking ahead, Delta expects labor costs to weigh on profits in early 2023.

Spain court hears Rabat case over reporter's spyware claim
Spain court hears Rabat case over reporter's spyware claim
by  AFP

Morocco demanded Friday that a Madrid court rule it had nothing to do with the possible installation of Pegasus spyware on the phone of a Spanish journalist, who has blamed Rabat. Morocco was singled out as one of the countries that had bought the programme and whose intelligence services had used the spyware against journalists -- a claim denied by Rabat.

Energy

Money

Industry

Technology

Economy