AFP
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L'Oreal bullish after net profits rise
French cosmetics giant L'Oreal said Thursday its profits rose last year despite the declining Chinese market and it made bullish statements about its hopes for 2025. Given that Chinese demand had failed to rebound last year as hoped Hieronimus said the group had nonetheless performed well, enjoying good years in Europe and the United States.
Trump trade envoy pick says universal tariffs should be 'considered'
US President Donald Trump's trade envoy nominee Jamieson Greer told his confirmation hearing Thursday that universal tariffs should be "studied and considered" as a potential way to reverse offshoring and deficits. Greer told lawmakers Thursday that the United States should be a "country of producers," as he faced questions by lawmakers on trade.
Volvo Cars anticipates bumpy 2025 as demand slows
Sweden's Volvo Cars, owned by China's Geely Group, said Thursday that annual profits rose in 2024 despite a final quarter slowdown but that the outlook for this year is tougher. Volvo Cars shares slumped back around 11 percent mid-afternoon on the Stockholm Stock Exchange, with investors disappointed over year-end profitability and concerned about the 2025 outlook.
Shein, Temu face cost of adapting to new US customs rules
US tariffs on Chinese imports and the closing of a customs loophole will wreak disruption on the business models of e-commerce giants Shein and Temu, with consumers potentially bearing the brunt of the cost, analysts say.
EU quizzes Shein over 'illegal' products
The EU on Thursday told online fashion giant Shein to hand over information on risks linked to illegal products on its site, paving the way for a second probe into the Chinese-founded firm. "The Commission is requesting Shein to provide internal documents and more detailed information on risks linked to the presence of illegal content and goods on its marketplace," it said.
Decathlon on back foot over China forced labour accusations
French company Decathlon, the world's biggest sports equipment retailer, on Thursday defended its human rights record after reports it had benefited from forced labour in China.
UK to quicken rollout of mini-nuclear reactors
Britain's Labour government on Thursday said changes to planning laws will speed up the country's rollout of mini-nuclear reactors aimed at providing cheaper and cleaner energy.
French parliament finally adopts 2025 budget
The French parliament on Thursday finally adopted the state's 2025 budget following a tumultuous months-long process that saw the previous government toppled and the current administration survive multiple no confidence votes.
Gucci ousts chief designer De Sarno after sales slump
Luxury giant Gucci announced Thursday it was parting ways with its chief designer Sabato De Sarno following a sales slump, in the latest shakeup at a major European label. "Gucci today announces the end of its collaboration with creative director Sabato De Sarno," the fashion brand owned by French luxury group Kering said.
AFP
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