German autos giant Volkswagen reported a 15% year-on-year drop in annual operating profit on Tuesday, citing increasing costs and "extraordinary expenses" associated with its restructuring strategy. The automaker posted a revenue of 324.

South African lender Absa Group on Tuesday posted a 10% rise in annual profit from a year earlier and a final dividend of 775 cents per share.

The company said it expected revenue this year to exceed the previous year’s figure by up to 5% as it continues to focus on cutting costs and implementing profitability measures, in what is expected to be another challenging year.