SYDNEY: Australia’s “Big Four” banks are set to report a further squeeze on interest margins in their upcoming results dented by growing competition, though the prospect of a recovery aided by central banks’ rate hikes is expected to bolster their outlook. Read full story
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U.N. Secretary-General Antonio Guterres on Sunday urged debt relief for African countries and more investment to help their economies recover from the COVID-19 pandemic and weather the impacts of the Ukraine war. Read full story
Australia’s Qantas Airways Ltd QAN.AX on Monday announced a landmark Airbus SE AIR.PA order for 12 A350-1000 planes capable of the world’s longest commercial flights from Sydney to London as well as 40 narrowbody jets to renew its domestic fleet. Read full story
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EARLIER in the year, global economic prospects were promising as more sectors in the economy gradually reopened, more people were vaccinated, and mobility restrictions eased with economic growth steadily picking up despite a surge in Omicron-related cases. Read full story
IN the red-hot United States housing market, homebuyers are facing sticker-shock as prices have soared, and now they also have been hit with a surge in borrowing rates. Read full story
NEW YORK: Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. This report produced by Tamara Lindstrom. Read full story
More developers expanding revenue streams Read full story
NEW YORK: A volatile stock market faces a critical test next week, when the U.S. Federal Reserve is expected to raise interest rates and give more insight on its plans for tightening monetary policy to fight surging inflation. Read full story
NEW YORK: Oil prices fell on Friday, reversing in volatile trade, pulled downward by the U.S. heating oil contract that plummeted by more than 20% at one point on the day of its expiration Read full story
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