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US new home sales miss expectations in January on cold weather
US new home sales miss expectations in January on cold weather
by  AFP

Sales of new US homes slumped more than expected in January, government data showed Wednesday, with cold weather and stubborn cost-of-living pressures weighing on buyers as Donald Trump returned to office. "Sales likely were also weighed down by the weather; last month was the coldest January since 1988," Pantheon added. bys/dw

BP to up oil and gas output, slash clean energy spend in overhaul
BP to up oil and gas output, slash clean energy spend in overhaul
by  AFP

BP plans to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced Wednesday to the dismay of environmentalists. BP will increase oil and gas investment to around $10 billion per year, making up two-thirds of capital expenditure.

Los Angeles wildfires costliest in history: Munich Re
Los Angeles wildfires costliest in history: Munich Re
by  AFP

German reinsurance giant Munich Re said Wednesday that last month's huge wildfires in Los Angeles had been the costliest "in the history of the insurance industry". Nonetheless, the figure would represent "the most substantial wildfire losses in the history of the insurance industry", Munich Re said.

AB InBev posts record sales in 2024 despite beer volumes slipping
AB InBev posts record sales in 2024 despite beer volumes slipping
by  AFP

AB InBev, the world's leading brewer whose portfolio includes Budweiser, Corona and Stella Artois, said revenue hit a record level in 2024 although beer volumes slid. That came despite sales sliding 1.4 percent by volume, with beer volumes down by 1.9 percent.