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FRESNO, Calif. (AP) — A new state report shows California farmers reaping record sales despite the epic drought, thriving even as city-dwellers have been forced to conserve water, household wells have run dry and fish have died.
Australia's biggest company Commonwealth Bank on Wednesday posted a modest two percent rise in first-half net profit to Aus$4.62 billion (US$3.26 billion) with the lender confident it is well placed to ride out global instability. The report came a day after nervous investors dumped bank stocks in Australia ahead of the Commonwealth's interim results, with lenders also spooked by a global banking rout on fears of deteriorating credit quality. Cash profit, a measure often preferred by financial institutions, rose four percent to Aus$4.80 billion, slightly higher than analyst expectations.