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German growth better than expected but tariff turmoil looms
Germany's struggling economy grew faster than expected at the start of the year, data showed Wednesday, in a boost for the incoming government of conservative Friedrich Merz even as US tariffs threaten to derail the nascent recovery.
Eurozone economy grows more than expected despite US tariff turmoil
The eurozone economy expanded more than expected at the start of the year, official data showed on Wednesday, despite US President Donald Trump's tariffs but global trade tensions threaten more pain and near stagnation in 2025.
Germany's next finance minister, 'bridge-builder' Lars Klingbeil
Germany's incoming finance minister Lars Klingbeil is a self-styled political "bridge-builder" whose calm and personable demeanour belies his sharp political instincts.
Steelmaker ArcelorMittal warns of uncertainty
Steelmaker ArcelorMittal warned Wednesday that tariff uncertainty could cause further economic disruption as its global footprint helped it weather the turbulence in the first quarter. "Heightened uncertainty around the terms of global trade is hurting business confidence and risks causing further economic disruption if not quickly resolved," ArcelorMittal's chief executive Aditya Mittal warned.
Jeep owner Stellantis suspends outlook over tariffs
US-European auto giant Stellantis, whose brands include Jeep, Peugeot and Fiat, dropped its annual financial guidance on Wednesday due to uncertainty over US President Donald Trump's tariffs. But the company said it was "suspending its 2025 financial guidance...due to evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."
Aston Martin limits US car imports due to tariffs
British luxury carmaker Aston Martin Lagonda said Wednesday that it is limiting shipments to the United States after US President Donald Trump slapped 25-percent tariffs on car imports. It is not the only British carmaker to adjust shipments due to Washington's tariffs, as Jaguar Land Rover paused exports to the United States in April while it worked on a new plan to adapt.
TotalEnergies profits drop as prices slide
TotalEnergies said Wednesday that its net profit fell in the first quarter despite expanding production, as a slide in global crude oil prices penalises the financial performance of energy firms. TotalEnergies boosted crude oil production by two percent from the first quarter of 2024, but that wasn't enough to compensate for nine percent drop in the international reference price.
Volkswagen says tariffs will dampen business as profit plunges
Europe's largest carmaker Volkswagen said Wednesday that first quarter profit plunged due to higher costs as it warned of muted business for the rest of the year in the wake of trade tensions.
Jeep owner Stellantis suspends 2025 earnings forecast over tariffs
Stellantis, the parent company of Jeep, Peugeot and Fiat, said Wednesday it was suspending its 2025 earnings forecast due to uncertainty caused by US tariffs. Nevertheless, Stellantis said it was "suspending its 2025 financial guidance...due to evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."
AFP
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