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Swiss gold refining sector hits US tariff mine
Swiss gold refining sector hits US tariff mine
by  AFP

The first casualty of the imposition of a hefty 39-percent tariff on Swiss imports into the United States may be gold refining after it emerged certain gold bars would face the levy. Gold bars produced in the Belgian city Antwerp face the 15-percent tariff applied to the European Union when imported into the United States.

Trump says court halt of tariffs would cause 'Great Depression'
Trump says court halt of tariffs would cause 'Great Depression'
by  AFP

US President Donald Trump warned Friday of cataclysmic consequences on the US economy if a court rules that his imposition of sweeping tariffs constitutes an illegal power grab. A lower court ruled against Trump in May, but the US Court of Appeals for the Federal Circuit put the ruling on hold as it considers the case.

Thyssenkrupp to spin off marine division amid defence boom
Thyssenkrupp to spin off marine division amid defence boom
by  AFP

German industrial titan Thyssenkrupp's shareholders on Friday backed a spin-off of its warship and submarine-building unit, seeking to better position the group to benefit from a European defence boom. Shareholders overwhelmingly backed the spin-off of a 49-percent minority stake of the marine division at a specially convened meeting.

Germany suspends arms exports to Israel for use in Gaza
Germany suspends arms exports to Israel for use in Gaza
by  AFP

Germany will halt the export of military equipment to Israel which could be used in the Gaza Strip, Chancellor Friedrich Merz said Friday, reacting to Israel's plan to take control of Gaza City. "Under these circumstances, the German government will not authorise any exports of military equipment that could be used in the Gaza Strip until further notice," he said in a statement.

Oil industry presence surges at UN plastic talks: NGOs
Oil industry presence surges at UN plastic talks: NGOs
by  AFP

Environmental NGOs are raising concerns about the growing presence of petrochemical industry lobbyists at talks to forge a global treaty to combat plastic pollution. - 'Here to listen' - The International Council of Chemical Associations (ICCA) confirmed they had 136 delegates at the talks representing the plastic, petrochemical and chemical manufacturing industries.