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Shell net profit retreats on lower energy prices
Shell net profit retreats on lower energy prices
by  AFP

British energy giant Shell on Thursday said its net profit slid 23 percent in the first six months of the year, hit by lower oil and gas prices. Earlier this year, Shell's British rival BP launched a major pivot back to its oil and gas business, shelving its once industry-leading ambitious renewable energy strategy.

China summons chip giant Nvidia over alleged security risks
China summons chip giant Nvidia over alleged security risks
by  AFP

Chinese authorities summoned Nvidia representatives on Thursday to discuss "serious security issues" over some of its artificial intelligence chips, as the US tech giant finds itself entangled in trade tensions between Beijing and Washington.

US tariffs corrode steelmaker ArcelorMittal's profitability
US tariffs corrode steelmaker ArcelorMittal's profitability
by  AFP

The world's number two steelmaker, ArcelorMittal, said on Thursday its half-year net profit jumped on exceptional items but US tariffs began to eat into its margin. Net profit for the period from January through June rose 39 percent from the same period in 2024 to hit $2.6 billion, thanks to a $1.7 billion exceptional gain from acquiring a stake in a US unit ceded by Nippon Steel.

BMW profits slump on China woes, US tariffs
BMW profits slump on China woes, US tariffs
by  AFP

BMW said Thursday its profits slumped by a third in the second quarter as the German premium carmaker was hit hard by falling sales in key market China and US tariffs. Revenues slipped eight percent to 34 billion euros as sales fell 14 percent in China, where German carmakers are facing fierce competition from local rivals particularly when it comes to electric vehicles.

Laos braced for blow of Trump tariff threat
Laos braced for blow of Trump tariff threat
by  AFP

Hawking clothes outside the garment factory where her daughter toils inside, a Laos vendor weighs US President Donald Trump's threat of trade tariffs that may soon snarl both their livelihoods. But with the Southeast Asian country already suffering from high inflation and a severe labour shortage, Trump's default tariff could still have a devastating effect, industry insiders say.

Most markets down as Fed holds and Trump announces fresh tariffs
Most markets down as Fed holds and Trump announces fresh tariffs
by  AFP

Asian markets mostly fell Thursday while the dollar held most of its gains as traders weighed a cautious Federal Reserve with strong tech earnings and Donald Trump's tariffs on key economies South Korea and India. Traders had been given a healthy lead from the tech sector after titans Microsoft and Meta posted better-than-expected earnings, sending their stocks soaring in after-market trade.