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BNP Paribas posts record profit of 10.2 bn euros
BNP Paribas posts record profit of 10.2 bn euros
Business and Economy
by  AFP

French bank BNP Paribas posted Tuesday a record profit of 10.2 billion euros, the latest in a series of European banks to ride the swell in interest rates to higher earnings. Net banking income -- what a bank earns from interest on loans minus interest paid depositors -- rose nine percent to 50.4 billion euros.

SoftBank Group reports $5.9 bn third-quarter loss on tech slump
SoftBank Group reports $5.9 bn third-quarter loss on tech slump
Business and Economy
by  AFP

Japan's SoftBank Group on Tuesday reported a surprise $5.9 billion net loss in the third quarter, as a slump in the tech sector continued to hit the investment behemoth's bottom line. But it reported a record quarterly net loss for the first quarter, as tech shares tanked on interest rate hikes, a trend analysts said was likely to continue.