• Reuters

    Mexico's Banorte posts 9% profit climb in Q1 as loan book grows

    Mexico's Grupo Financiero Banorte reported on Tuesday a 9% increase in first-quarter net profit from the year-ago period, citing growth in its loan book. Net profit for the quarter hit 14.21 billion pesos ($859.48 million). Net interest income, the difference between what banks earn on loans and dole out in deposits, grew 10% year-over-year on the larger loan book, which also benefited from higher interest rates.

  • Reuters

    US labor union backs Norfolk in proxy battle with Ancora

    A top federation of U.S. labor unions has urged Norfolk Southern shareholders to vote against Ancora's director candidates, arguing the hedge fund's plans for the railroad would compromise safety and improvements being considered. "Ancora's proposed strategy for Norfolk Southern is "not fit for purpose" and the election of Ancora's proposed directors will derail the safety and service improvements that are currently underway at Norfolk Southern," the American Federation of Labor and Congress of Industrial Organizations said in a letter. Ancora, in February, proposed the replacement of Norfolk Southern's top management, including its CEO, and nominated eight directors to the railroad operator's board in response to the company's negligence leading to a 2023 train derailment in East Palestine, Ohio.

  • Storyful

    Funnel Cloud Touches Down in Northwest Iowa

    An ominous funnel cloud touched down in northwest Iowa on Tuesday, April 16, as weather officials issued a tornado warning for the area.This video was captured by Iowa state trooper Paul Gardner, who said he filmed it in Pocahontas County, north of the city of Manson.Severe weather swept through Iowa on Tuesday, as several counties in the north-central part of the state were under a tornado watch. Credit: Trooper Paul Gardner via Storyful