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Chemicals firm BASF urges EU to cut red tape as profit dips
The boss of German chemicals giant BASF on Wednesday called for the European Union to relax carbon trading rules, as the firm reported a drop in core profit with the industry in crisis.
Mercedes-Benz reassures on Nexperia chips as profit plunges
German premium carmaker Mercedes-Benz sought to reassure investors Wednesday over a feared shortage of microchips as it reported plunging third-quarter profits. For the third quarter, Mercedes reported a 30.8-percent plunge in net profit to 1.19 billion euros ($1.38 billion), dragged down by US President Donald Trump's tariff blitz as well as slumping sales in China.
UK drugmaker GSK lifts 2025 guidance despite US tariffs
British pharmaceutical group GSK on Wednesday raised its full-year outlook after strong sales growth in its third quarter, brushing off the potential impact of US tariffs. The drugmaker on Wednesday said it expects full-year revenue to increase between six and seven percent, compared with an earlier forecast of three to five percent.
Mercedes-Benz profit plunges on China slump and US tariffs
German premium carmaker Mercedes-Benz reported plunging third-quarter profit Wednesday, hit by weak sales in China as well as US tariffs. Sales by volume in key market China meanwhile fell 27 percent in the third quarter, helping drag overall sales down 12 percent.
Norway's energy giant Equinor falls into loss
Norwegian energy giant Equinor said Wednesday it suffered a net loss in the third quarter as it lowered its outlook for oil prices, forcing it to write down the value of its assets.
Asia stocks join Wall Street records as tech bull run quickens
Asian stock markets surged on Wednesday, matching record gains on Wall Street the previous day as investor confidence in AI tech and coming interest rate cuts in the United States reaches fever pitch.
Record potato harvest is no boon in fries-mad Belgium
Fries powerhouse Belgium is in for a record potato harvest this year -- but that's hardly cause for celebration for farmers who face a slump in prices partially driven by a crunch in exports. "It's going to be a difficult year," Baudouin Dewulf, a grizzled farmer in Geer, eastern Belgium, said.
Deutsche Bank posts record profit on strong trading
Germany's largest bank Deutsche Bank posted record third-quarter profit Wednesday and beat expectations, boosted by a strong performance at its investment bank. Revenue rose across most of the bank, but the investment bank led the way with a rise of 18 percent to three billion euros.
UBS beats expectations as claws backs provisions
Swiss banking giant UBS reported third-quarter earnings that beat analyst expectations, thanks in part to clawing back provisions for possible litigation, but also sustained by strong performances in its trading and wealth divisions. The bank said it had earned a net profit of nearly $2.5 billion in the third quarter, a 74-percent increase from the same period last year.
AFP
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