Swiss banking giant UBS on Tuesday reported a fall in net profits in the third quarter, though still better than expected against a backdrop of falling revenues at the investment bank.. The figures nonetheless exceeded expectations, with analysts predicting a net profit of around $1.4 billion and revenues of $7.9 billion.
Mechanical diggers are hard at work in the bleak landscape of the Moanda open-cast mine in Gabon, using giant jaws to rip out manganese and then dump the ore into trucks with a crash.. "If activity is limited to mining and extracting ore, Africa will reap no benefit from the energy transition in Europe.
New Credit Suisse chief executive Ulrich Koerner, faced with trying to turn around the beleaguered bank following multiple scandals, is set to unveil his strategic road map on Thursday.. Credit Suisse already went through a major restructuring under Tidjane Thiam, its chief executive from 2015 to early 2020.
The turquoise glimmer of open-air pools contrasts sharply with the dazzling white of salt flats in Latin America's "lithium triangle," where hope resides for a better life fueled by a metal bonanza.. Unlike in Australia -- the world's top lithium producer that extracts the metal from rock -- in South America it is derived from salars, or salt flats, where saltwater containing the metal is brought from underground briny lakes to the surface to evaporate.
China's yuan hit a 15-year low against the US dollar on Tuesday, with investors spooked after President Xi Jinping gained complete dominance over the Communist Party at a key meeting last week.. China's currency has taken a hit, along with other major currencies, as the Federal Reserve's hawkish tone sends investors piling into the dollar.
HSBC on Tuesday said pre-tax profit slipped more than 40 percent in the third quarter, with the bank citing an impairment on the planned disposal of its retail banking operations in France.. But adjusted pre-tax profit rose 18 percent to $6.5 billion, beating Bloomberg News analyst estimates.
Hong Kong and Shanghai stocks saw big swings Tuesday following the previous day's rout after Xi Jinping tightened his grip on power in China, while other Asian markets extended gains on hopes the Federal Reserve will slow down its pace of rate hikes.. The gloomy mood in China cast a shadow over an otherwise positive start to the week elsewhere as investors were cheered by a report suggesting the Fed could discuss at next week's policy meeting the possibility of slowing down its pace of interest rate hikes.
When Pinky Tam lost her job in Macau last year, she found herself among the many thousands cast adrift as the city's casino industry crumbled beneath the twin forces of politics and a pandemic.. Tam, the former Suncity worker, said she took a one-third pay cut to land a new secretarial job, adding that similar openings were routinely advertised with a monthly wage of just $1,100.
The recent visit of a Russian megayacht to Hong Kong has sparked warnings from corruption investigators that the city could become a haven for oligarchs and officials hiding from Western sanctions.. David Webb, a Hong Kong activist investor, said the city will have "plenty of competition for being a safe haven, including Dubai and Singapore".
The US consumer's love for enormous vehicles has been seen by outsiders as a curiosity and sometimes a sign of profligacy.. "You're removing the emissions for the large vehicles that are the most emitting," he said.
