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Asset writedowns push Glencore into $1.6 bn loss for 2024
Asset writedowns push Glencore into $1.6 bn loss for 2024
by  AFP

Swiss mining and commodity trading giant Glencore said Wednesday that falling coal prices and writedowns to the value of its assets pushed it into a net loss for 2024. The $1.6 billion net loss for fiscal year 2024 compared to a net profit of nearly $4.3 billion the previous year, the company said in a statement.

Trump says US auto tariffs to be around 25%
Trump says US auto tariffs to be around 25%
by  AFP

US President Donald Trump expanded his offensive against trading partners on Tuesday, threatening 25 percent tariffs on imported cars, and similar or higher duties on pharmaceuticals and semiconductors. Asked about threatened tariffs on pharmaceuticals and chips, Trump said: "It'll be 25 percent and higher, and it'll go very substantially higher over (the) course of a year."

UK annual inflation jumps more than expected
UK annual inflation jumps more than expected
by  AFP

Britain's annual inflation rate rose more than expected last month, official data showed Wednesday, adding pressure to the Labour government which is also facing sluggish economic growth. The reading is a blow to Prime Minister Keir Starmer's centre-left government as it tries to tackle the dual pressures of rising prices and slow economic growth.

Niger turns to satellites to bridge digital divide
Niger turns to satellites to bridge digital divide
by  AFP

Less than a third of Niger's vast territory has internet access, so the west African country is betting on satellite broadband to bridge the digital divide in remote rural areas. Much of the enthusiasm for satellite broadband comes from remote areas, said vendor Ali Sat.

Philips losses worse than expected in 2024
Philips losses worse than expected in 2024
by  AFP

Philips on Wednesday posted worse-than-expected losses in 2024, as the Dutch medical device maker bids to turn the page on a damaging recall of faulty sleep machines. For the fourth quarter, Philips posted a net loss of 333 million euros on sales of 5.0 billion euros.