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Shell made a record annual profit for 2022 of almost $40bn, beating market expectations in the final three months of year on the back of a strong performance from its gas trading business. Europe’s largest oil and gas company made adjusted earnings of $39.9bn for the year, more than double the $19.3bn it reported in
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The world’s leading central banks are poised to raise interest rates this week to their highest levels since the financial crisis, stoking anxiety among some investors that this month’s record bond market rally underestimates the growing evidence of persistent inflation. Bond prices have rapidly rebounded since the start of the year from last year’s historic
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A growing number of Japanese businesses are strengthening their intelligence gathering as the country finds itself increasingly exposed to the mounting tensions between the US and China. Companies in sectors that have historically been less exposed to geopolitical disruptions — including Suntory and Mitsubishi Chemical — have hired risk executives and created new job roles
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Germany dashed its allies’ hopes that it would approve the dispatch of battle tanks to Ukraine on Friday when a high-profile defence ministers meeting failed to reach an agreement. Many western countries argue that the German-made Leopard 2 battle tanks would greatly help Kyiv mount a counteroffensive against Russia, but Berlin has yet to agree,
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China’s population fell in 2022 for the first time in decades, a historic shift that is expected to have long-term consequences for the domestic and global economies. The world’s most populous country has long been a crucial source of labour and demand, fuelling growth in China and the world. On Tuesday, the National Bureau of
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