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Tree branches to fleece jackets: Chemicals plant in Germany bets on biomass
Tree branches to fleece jackets: Chemicals plant in Germany bets on biomass

Staring at a pile of freshly cut beechwood, forestry manager Johannes Brodowski wonders if he is looking at the future of Germany's chemicals industry. Germany's traditional chemicals industry has been battered by high energy prices and cheap competition from Asia, with national output now at its lowest level since 1995.

by  AFP

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UK economy slows less than feared after tariffs
UK economy slows less than feared after tariffs
by  AFP

Britain's economy performed better than expected in the second quarter as it weathered the impact of US tariffs and a higher UK business tax, official data showed Thursday. Official data Wednesday showed UK unemployment at a four-year high of 4.7 percent in the second quarter.

Asian markets mixed as bitcoin surges to new high
Asian markets mixed as bitcoin surges to new high
by  AFP

Bitcoin hit a new peak during early Asian trading on Thursday, as the yen surged after the US Treasury Secretary said he expects Japan to hike interest rates. The Bank of Japan, which has long maintained a negative interest rate policy, began monetary tightening in 2024.

NBA approves $6.1bn sale of Boston Celtics
NBA approves $6.1bn sale of Boston Celtics
by  AFP

The NBA on Wednesday approved the sale of the Boston Celtics to an investment group led by Bill Chisholm, five months after the deal worth a then-record $6.1 billion was agreed. "The NBA Board of Governors has unanimously approved the sale of the controlling interests in the Boston Celtics to an investor group led by Bill Chisholm," the league said in a brief statement.

Striking Boeing defense workers turn to US Congress
Striking Boeing defense workers turn to US Congress
by  AFP

Boeing defense industry workers currently on strike asked for congressional lawmakers' support on Wednesday as they seek to pressure the aviation giant to improve its bargaining offer to the union.

Plastic pollution treaty talks in disarray
Plastic pollution treaty talks in disarray
by  AFP

Attempts to secure a landmark treaty combating plastic pollution descended into disarray on the penultimate day of talks Wednesday as dozens of countries rejected the latest draft text, leaving the talks in limbo. With a day left to go, Vayas presented a new draft but the discussions quickly unravelled as the text was savaged from all quarters.

Markets rise on growing rate cut hopes
Markets rise on growing rate cut hopes
by  AFP

Markets rose Wednesday on growing hopes of US interest rate cuts after soft inflation data, with Japan's Nikkei hitting a second record high in as many days. That boosted hopes among that the US Federal Reserve and its embattled chief Jerome Powell will cut interest rates next month.