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Nestle struggles amid weak China market
Nestle struggles amid weak China market
Business and Economy
by  AFP

Nestle said Tuesday its net profit fell in the first half of the year as the Swiss food giant behind Nespresso coffee capsules and KitKat chocolate bars struggles to turn around its fortunes amid sluggish consumer spending in China. Nestle made a surprise switch of its chief executive least year amid soft spending by consumers for food and household goods.

Deutsche Bank posts bumper profits, shares soar
Deutsche Bank posts bumper profits, shares soar
Business and Economy
by  AFP

Deutsche Bank on Thursday reported its highest second-quarter profit since 2007 and said it was on track to meet annual targets, sending shares in Germany's biggest lender soaring. Thursday's result "puts us on track to meet our 2025 targets", said CEO Christian Sewing.

TotalEnergies net profit drops as oil prices fall
TotalEnergies net profit drops as oil prices fall
Business and Economy
by  AFP

TotalEnergies said Thursday its net profit plunged in the second quarter despite increased output as global oil and gas prices dropped. Despite the 29 percent year-on-year drop in net profit in the second quarter to $2.7 billion, the French firm called its performance "robust".

BTS agency HYBE raided over alleged fraud trading
BTS agency HYBE raided over alleged fraud trading
Business and Economy
by  AFP

HYBE, the agency behind K-pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said. Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company's 2020 initial public offering.