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HSBC banks lower profits on higher costs
Bank giant HSBC said Wednesday that group profits fell in the first half on higher costs but noted that it was "well positioned" to deal with the effects of US tariffs. - Missed expectations - Elhedery said HSBC is "well positioned to manage the changes and uncertainties prevalent within the global environment in which we operate, including in relation to tariffs".
Eurozone economy expands but tariff impact looms
The eurozone economy unexpectedly expanded in the second quarter of 2025, official data showed Wednesday, despite international trade tensions clouding the global outlook.
Ryanair says dropping three French airports over 'harmful' tax
Irish no-frills airline Ryanair said on Wednesday it was dropping three French airports over a "harmful" tax hike on air tickets and urged Paris to change course. Ryanair urged the French government to abolish the "harmful" air tax in order to make French aviation more competitive.
Adidas reports hit from US tariffs
German sportswear giant Adidas said Wednesday it took a hit from US tariffs in the second quarter but did not indicate whether it would pass on rising costs to consumers. The company did not indicate whether it would pass on these costs to consumers and expressed concern that rising prices overall could dampen demand.
Italy opens probe into Meta over AI tool in WhatsApp
Italy said Wednesday it opened a probe into social media giant Meta for potentially breaking EU competition laws by installing its AI tool into WhatsApp.
Mercedes-Benz profit plunges on tariff, China woes
Premium German carmaker Mercedes-Benz said Wednesday its second-quarter profit plunged nearly 70 percent due to US tariffs and weak sales in China, prompting it to lower its full-year revenue outlook.
India exporters steel themselves as tariff clock ticks down
Indian exporters were bracing Wednesday for higher US tariffs to kick in as prospects dim for an interim trade deal between New Delhi and Washington before the August 1 deadline. While lower than the 26 percent reciprocal tariffs Washington previously announced in April, that would would still represent a leap from the current 10 percent baseline tariff on Indian shipments to the United States.
Could copper tariff hurt US more than Chile?
Chile, the world's biggest copper producer, is hoping for a last-minute deal to stop the United States from imposing a 50-percent import tariff on the red metal. - Impact on the US - The United States imports about 45 percent of the copper it needs for industrial use, according to the US Geological Survey, a government agency.
'Marathon at F1 speed': China bids to lap US in AI leadership
Beyond dancing robots and eager-to-help digital avatars, Shanghai's World AI Conference saw China stake its claim to global artificial intelligence leadership and frame itself as a clear alternative to the United States.
AFP
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