Economy

Economy Latest News

GM unveils plans for 'eyes-off' vehicle in 2028
GM unveils plans for 'eyes-off' vehicle in 2028
by  AFP

General Motors announced plans Wednesday to incorporate Google's Gemini artificial intelligence platform into vehicles and to launch a vehicle capable of "eyes-off" driving in 2028.

Global trade system risks coming off the rails: UN chief
Global trade system risks coming off the rails: UN chief
by  AFP

The rules-based international trade system is in danger, UN chief Antonio Guterres warned Wednesday, amid spiralling debt, heavy tariffs and financial insecurity for emerging nations. And the rules-based trading system is at risk of derailment," Guterres said at the 16th UN Conference on Trade and Development (UNCTAD) in Geneva.

SpaceX says 'disabled' 2,500 Starlink devices at Myanmar scam centres
SpaceX says 'disabled' 2,500 Starlink devices at Myanmar scam centres
by  AFP

SpaceX has cut service to more than 2,500 Starlink internet devices at Myanmar scam centres, a company executive said Wednesday, after AFP revealed that their use had exploded in the illicit industry. SpaceX's vice-president of Starlink business operations, Lauren Dreyer, said the company "disabled over 2,500 Starlink Kits in the vicinity of suspected 'scam centers'" in Myanmar.

Eurostar plans double-decker train amid competition threat
Eurostar plans double-decker train amid competition threat
by  AFP

Eurostar said Wednesday it will run double-decker trains through the Channel Tunnel for the first time, as it faces potential competition on its routes between London and mainland Europe. "We're particularly proud to bring double-decker trains to the UK for the very first time," she added in a statement.

UniCredit beats expectations with rise in profits
UniCredit beats expectations with rise in profits
by  AFP

Italy's second largest bank, UniCredit, beat analyst expectations on Wednesday with record third-quarter profits as higher commissions and cost cutting measures outweighed lower interest income. The bank confirmed its 2025 net profit target of 10.5 billion euros excluding measures to boost future performance, and its medium-term target of surpassing 11 billion euros in 2027.

Hermes defies US tariffs as sales grow
Hermes defies US tariffs as sales grow
by  AFP

Sales by French luxury group Hermes, known for its silk scarves and leather handbags, defied US tariffs and a weak dollar to rise in the third quarter. Hermes said earlier this year that it hoped to avoid raising prices in the United States further despite the new 15 percent tariff on goods from the EU, but warned the weak dollar was also weighing on performance.

Unspoilt corner of Portugal fears arrival of high-end tourism
Unspoilt corner of Portugal fears arrival of high-end tourism
by  AFP

Above the pine forests and dunes that stretch along the nearly deserted beaches of southwestern Portugal, cranes rise from building sites soon to be luxury hotels -- a sign of the region's contentious transformation into a playground for the wealthy.

'Mixed performance': Heineken beer sales down
'Mixed performance': Heineken beer sales down
by  AFP

Dutch brewer Heineken Wednesday reported a steep drop in beer sales in the third quarter, driven by a sharp decline in the United States and Europe and a "challenging" economy. Heineken said it sold 59.0 million hectolitres of beer worldwide in the third quarter.