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Santander profits up despite windfall tax on banks
Santander profits up despite windfall tax on banks
Business and Economy
by  AFP

Spanish banking giant Santander saw its first quarter net profits rise thanks to strong business activity that offset a windfall tax imposed by Spain's leftwing government, results showed Tuesday. The robust start offset the impact of a temporary windfall tax on big banks imposed by Spain's government in January to fund measures to help households cope with higher prices.

Nestle sales grow on back of price increases
Nestle sales grow on back of price increases
Business and Economy
by  AFP

Swiss food group Nestle on Tuesday reported better-than-expected sales in the first three months of the year, helped by price increases to offset inflation and demand for its staple products. "Portfolio optimization efforts and responsible pricing helped to offset the ongoing pressures from two years of cost inflation," he said.

Asian stocks mostly down after mixed session on Wall Street
Asian stocks mostly down after mixed session on Wall Street
Business and Economy
by  AFP

Asian stocks were mostly down on Tuesday following a mixed session on Wall Street, with investors still casting about for direction at the start of a week of major announcements. South Korea on Tuesday announced better-than-expected economic growth of 0.3 percent for the first quarter of the year, dodging a technical recession.

Investors look for strength in UBS results
Investors look for strength in UBS results
Business and Economy
by  AFP

UBS is expected to post solid first quarter results Tuesday, with all eyes on whether the bank is strong enough to carry through its forced alliance with stricken rival Credit Suisse. US banks have set the tone, with Citigroup, Wells Fargo and Bank of America having already posted better-than-expected results, as interest rates boosted their incomes.