Reported 2 months ago
Salzgitter AG's CEO has cautioned that U.S. tariffs on steel imports could significantly damage the European steel industry, especially in Germany, following the announcement to double tariffs to 50%. The U.S. represents a crucial export market, accounting for about 4 million tonnes of European steel. The tariffs exacerbate import pressures from cheaper Asian steel flooding into Europe, prompting the EU to tighten steel import quotas. Salzgitter's shares, along with those of other major European steel manufacturers, have fallen amid these concerns.
Source: YAHOO
Reported 2 months ago
According to a federal minister, Tesla is not interested in manufacturing vehicles in India, despite the country's new electric vehicle policy aimed at attracting foreign automakers. High import tariffs have been a significant barrier for Tesla, which had hoped to enter the Indian market. The policy reduces duties for companies committing to invest heavily in local EV production, but Tesla remains hesitant, while Mercedes-Benz and Volkswagen are exploring opportunities in the market.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
This year, major brands are scaling back their public expressions of support for Pride Month, as many companies fear backlash from conservative activists and the Trump administration. A survey reveals that around 39% of executives plan to limit their involvement in Pride-related merchandise and events, with a notable shift from previous years when brands aggressively marketed LGBTQ-themed products. Concerns over potential consumer boycotts and the economic climate have led to a more subdued approach, although some businesses continue to support LGBTQ rights behind the scenes.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Azeri state energy company SOCAR is set to sign new agreements soon for oil and gas exploration in Azerbaijan, including partnerships with Exxon Mobil and BP. Azerbaijan has significant reserves of oil and natural gas and aims to boost its natural gas exports by 8 billion cubic metres by 2030.
Source: YAHOO
Reported 2 months ago
The recent trade moves under President Trump, including significant tariff hikes on imports, have put immense pressure on U.S. retailers to decide whether to absorb costs or pass them onto consumers. With many companies, including Walmart and Costco, beginning to raise prices, the uncertainty surrounding these tariffs has led to concerns about profitability and growth strategies, highlighting a challenging landscape for retailers as they navigate costs and consumer reactions.
Source: YAHOO
Reported 2 months ago
South Korean shares remained stable ahead of a snap presidential election, with gains in chipmakers like Samsung and SK Hynix balancing out losses in steel companies due to rising tariffs. The KOSPI index closed slightly up, reflecting cautious investor sentiment as the country prepares for a new leadership amidst ongoing trade conflicts.
Source: YAHOO
Reported 2 months ago
European shares fell at the start of trading on Monday, following U.S. President Donald Trump's announcement of increased tariffs on steel and aluminum, raising concerns about renewed global trade tensions. The STOXX 600 index declined by 0.2%, with European steel companies and car manufacturers experiencing stock drops. Meanwhile, Sanofi's acquisition of Blueprint Medicines Corporation was announced, and attention turns to the European Central Bank's upcoming interest rate decision.
Source: YAHOO
Reported 2 months ago
Novartis announced that its targeted radiotherapy, Pluvicto, has been shown to slow the progression of certain types of prostate cancer in earlier disease stages, as per a late-stage trial. This promising development indicates a potential to treat patients with metastatic prostate cancer still responsive to standard hormone therapy, addressing a significant unmet need. The company plans to seek regulatory approval for expanded use later this year.
Source: YAHOO
Reported 2 months ago
British digital bank Monzo has achieved record revenue exceeding £1 billion ($1.35 billion) and a significant annual profit increase, with customer numbers rising by 25% to 12.2 million. Founded in 2015, Monzo is seeking to expand in Europe and the U.S. while contemplating a future IPO. The bank reported a pretax profit of £60.5 million for the year ending March 31, 2025, marking its first profitable year amidst ongoing regulatory investigations.
Source: YAHOO
Reported 2 months ago
The Swiss economy experienced a 0.8% growth in the first quarter of 2025, driven by a surge in exports as companies rushed to avoid impending U.S. tariffs. Notably, exports of pharmaceuticals, chemicals, and precision instruments increased, significantly impacting the GDP, which marked its highest quarterly growth in two years. Despite this temporary boost, concerns over future investment and economic uncertainty have arisen among Swiss manufacturers as they brace for potential ongoing trade issues.
Source: YAHOO
Reported 2 months ago
In May, Tesla's new car sales in Sweden plummeted by 53.7% compared to the previous year, with only 503 vehicles sold, according to registration data from Mobility Sweden.
Source: YAHOO
Reported 2 months ago
Warren Buffett, the billionaire CEO of Berkshire Hathaway, has sold 39% of the company's stake in Bank of America over the past three quarters, while simultaneously increasing his investment in Domino's Pizza, which has seen a staggering 7,700% rise since its IPO. Buffett's reduction in Bank of America shares may be viewed as profit-taking, although it raises questions about the bank's current valuation amidst shifting interest rates. In contrast, his investment in Domino's is fueled by the brand's strong consumer trust and impressive growth strategy.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
In a closely contested election, nationalist candidate Karol Nawrocki, who is backed by Donald Trump, won the Polish presidency, defeating centrist candidate Rafal Trzaskowski. This victory poses challenges for Prime Minister Donald Tusk as Nawrocki's win may impede efforts to integrate Poland more closely with the European Union and complicate the political landscape with rising right-wing influence. Tusk's government now faces heightened instability, and the result indicates a significant division within Polish society on key issues.
Source: YAHOO
Reported 2 months ago
Sanofi, the French pharmaceutical giant, has agreed to acquire US-based Blueprint Medicines Corporation for $9.1 billion, paying $129 per share. This acquisition aims to strengthen Sanofi's rare immunology portfolio by adding the drug Ayvakit/Ayvakyt, which is used for systemic mastocytosis, alongside a promising pipeline of other immunology treatments. The deal reinforces Sanofi's position in the immunology sector and reflects its strategy to lead in this field.
Source: YAHOO
Reported 2 months ago
Dior has appointed Jonathan Anderson, previously the menswear designer, as the head of women's wear and haute couture, replacing Maria Grazia Chiuri. This move aims to rejuvenate sales amid a challenging fashion climate. LVMH CEO Bernard Arnault praised Anderson's creative talents as key to shaping the future of Dior, as he transitions from his successful tenure at Loewe, where he gained recognition for his innovative designs.
Source: YAHOO
Reported 2 months ago
The French government has submitted a €410 million ($466.33 million) offer to acquire a portion of Atos' former Advanced Computing unit, which is a move as Atos recovers from financial difficulties following a restructuring agreement in 2024. However, Atos clarified that its Vision AI business will not be included in this deal and will be restructured under its Eviden division.
Source: YAHOO