Author: admin@primenews

HSBC’s profits have soared as it continues to cut costs and cash in on high interest rates around the world. Europe’s biggest bank said Tuesday that pre-tax profit grew by $4.1 billion to $8.8 billion in the second quarter compared to the same time a year before. That trumped analyst expectations of about $8 billion. Revenue also rose by $4.5 billion to $16.7 billion. The strong performance led the London-based lender to raise its outlook for the rest of the year, citing the current consensus for global interest rates. HSBC (HSBC) now projects a return on tangible equity — a key measure of profitability…

International airlines have reported significant profits this year, boosted by strong demand for leisure travel – and events, such as the World Cup, which gave Qatar Airways an enormous lift. On Thursday, International Airlines Group, which includes Aer Lingus and British Airways, announced a record profit of about $1.4 billion for the first half of the year. IAG’s CEO Luis Gallego said in a statement that the group is setting its sights on returning to pre-pandemic capacity by the end of the year. “Customer demand remains strong across the Group, particularly for leisure travel, with around 80% of passenger revenue for…

Deadly downpours have triggered landslides and floods that swept away cars and destroyed roads in Beijing, as the remnants of Typhoon Doksuri unleashed the heaviest deluge in a decade over parts of northern China. Two days of rainfall have overwhelmed riverbeds around the western outskirts of the Chinese capital, turning once calm waterways into ferocious torrents that have swept into people’s homes and torn down streets, according to video on state television and social media. At least 11 people have been killed and 27 others reported missing, state broadcaster CCTV reported, while more than 127,000 people have been evacuated from…

In June, 11 women sanitation workers from the southern Indian state of Kerala pooled money to buy a lottery ticket. Last week, they were overjoyed to find out they had hit the jackpot of 100m rupees ($1.2m; £946,685). The women are part of a group that collects non-biodegradable waste from households in Parappanangadi town in Kerala’s Malappuram district. They usually get around 250 rupees a day – from monthly payments made by the households – and occasionally a share of the money made by the local corporation from selling the segregated waste they collect. The money, they say candidly, is…

Donald Trump’s mounting legal troubles have not dented his status as the clear frontrunner for the Republican presidential nomination in 2024. In fact, the criminal charges have strengthened his position. Why? The former US president has been indicted twice in the past four months – once in New York for alleged financial crimes and once in a federal court on charges that he mishandled sensitive government documents and obstructed an investigation. He may be on the verge of a third indictment, for attempting to overturn the results of the 2020 election, and a fourth in Georgia for pressuring state officials…

A skyscraper in Russia’s capital Moscow has been hit again by a drone, Mayor Sergei Sobyanin says. Several drones were shot down overnight, he said, but “one flew into the same tower at the Moskva City complex” that was targeted on Sunday. The building’s facade was damaged on the 21st floor, the mayor says. No injuries have been reported. Russia’s defence ministry blamed Ukraine for the latest attack. Kyiv usually makes no comments on the issue. In a brief statement, Mr Sobyanin said that “glazing was destroyed over 150 square metres”. He added that emergencies services were working on the…

Angus Cloud, who starred on HBO hit series Euphoria has died aged 25. Cloud, who played drug dealer Fezco “Fez” O’Neill on the teen drama, died on Monday at his family home in Oakland, California, said a publicist. “It is with the heaviest heart that we had to say goodbye to an incredible human today,” said a statement from Cloud’s family. Cloud buried his father last week, according to family, and was in a “battle with mental health”. “The only comfort we have is knowing Angus is now reunited with his dad, who was his best friend,” the statement read.…

An American nurse and her child have been kidnapped in Haiti, according to El Roi Haiti, the Christian humanitarian aid organization she works for. Alix Dorsainvil, wife of El Roi Haiti Director Sandro Dorsainvil, and their child were reportedly abducted Thursday morning, according to a statement on El Roi Haiti’s website. The two were taken while serving in their community ministry on El Roi Haiti’s campus near capital city Port-au-Prince, the post read. “Alix is a deeply compassionate and loving person who considers Haiti her home and the Haitian people her friends and family. Alix has worked tirelessly as our…

After months of uncertainty about the economy’s health and whether bank stresses from this past spring would weigh too heavily on credit conditions, the possibility of the Federal Reserve pulling off a soft landing is looking brighter. The Fed last Wednesday raised interest rates by a quarter point, in line with expectations, and maintained that it will remain data dependent in deciding whether to pause or raise rates in September. But Chair Jerome Powell offered an important update regarding the Fed’s economic projections. “The staff now has a noticeable slowdown in growth starting later this year in the forecast, but given the…

Hunter Biden’s former business partner Devon Archer is scheduled to give closed-door testimony on Capitol Hill on Monday, the latest development in the Republican-led investigations into the president’s son. The Justice Department submitted a new request over the weekend that Archer be ordered to schedule a date to surrender to prison and begin serving out his one-year sentence resulting from a conviction in an unrelated fraud case, according to court filings. The move prompted immediate speculation among some Republicans that the Biden administration was attempting to prevent Archer from answering questions about Hunter Biden before the GOP-led House Oversight Committee…