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Unfair? Figures belie Trump's claims on EU trade balance
President Donald Trump repeatedly claims that US-EU trade ties are unfair and that Europe is abusing the United States as justification for threatening tariffs. - US services surplus When Trump criticises the European Union's trade surplus with the United States, he is only referring to trade in goods.
EU trade chief says tariff reciprocity 'must work for both' bloc and US
EU trade chief Maros Sefcovic said Thursday that reciprocity in tariffs should apply to both the bloc and Washington, after talks with his counterparts in US President Donald Trump's administration. During Sefcovic's three-day Washington visit for talks with US officials and business leaders, he pushed back against Trump's claim of unfairness in US-EU trade ties.
Walmart sales rise but shares tumble on forecast
Walmart reported solid fourth-quarter results Thursday behind higher US sales, but shares tumbled after its quarterly and annual projections missed estimates. Shares of the retail behemoth fell around eight percent in pre-market trading after the company projected annual profits of between $2.50 and $2.60 a share in fiscal 2026, below the $2.77 expected by analysts.
ECB rate hikes result in record loss in 2024
The European Central bank on Thursday reported a record loss in 2024 after it had aggressively hiked eurozone interest rates in response to soaring inflation. "Increases in the ECB's key interest rates in 2022 and 2023" resulted in higher interest expenses for the central bank itself on its liabilities, while income from interest on its assets did not rise as fast.
Birkenstock sandals are not art, German court rules
They may be the trendy footwear of choice for Hollywood A-listers and pop stars, but Birkenstock sandals are not works of art, Germany's top court ruled Thursday. But the Federal Court of Justice in Karlsruhe sided with the judgement of a lower court, ruling that Birkenstock's sandals could not be considered "copyrighted works of applied art".
Airbus profit climbs in 2024, aims to accelerate output
European aircraft maker Airbus said Thursday net profits rose in 2024 as it boosted plane deliveries and set a goal of accelerating them further. Net profit rose 12 percent to 4.2 billion euros ($4.4 billion), overcoming a massive writedown in the value of its space business earlier in the year.
Airbus proft climbs in 2024, aims to accelerate output
European aircraft maker Airbus said Thursday net profits rose in 2024 as it boosted plane deliveries and set a goal of accelerating them further. Net profit rose 12 percent to 4.2 billion euros ($4.4 billion), overcoming a massive writedown in the value of its space business earlier in the year.
Trump says trade deal with China 'possible'
US President Donald Trump suggested on Wednesday that a trade deal was "possible" with China -- a key target in the US leader's tariffs policy. In 2020, the United States had already agreed to "a great trade deal with China" and a new deal was "possible," Trump told reporters.
Mercedes-Benz profits plunge as German carmakers reel
Mercedes-Benz said Thursday it planned hefty cost cuts after its 2024 profits plunged by almost a third amid a slump in China and weak electric car sales, as Germany's auto sector reels. German manufacturers all invested heavily in China in recent decades and came to rely on the world's biggest auto market for a hefty chunk of their sales and profits.
AFP
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