AFP
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Intel chief vows to thin ranks at US chip maker
New Intel chief executive Lip-Bu Tan on Thursday announced upcoming layoffs at the struggling US chip maker as White House tariffs and export restrictions muddy the market. Malaysia-born tech industry veteran Tan, who took over as Intel chief executive in March, has said it "won't be easy" to overcome challenges faced by the company.
Trump signs order to ramp up US deep-sea mining
President Donald Trump signed an executive order Thursday to expand US deep-sea mining for rare earth minerals in domestic and international waters, despite warnings by environmental groups.
Alphabet quarterly earnings lifted by cloud and AI
Google parent Alphabet on Thursday reported profit of $34.5 billion in the recently ended quarter, powered by its cloud computing and artificial intelligence operations. Overall revenue at Alphabet grew 12 percent to $90.2 billion compared to the same period a year earlier, while revenue for the cloud unit grew 28 percent to $12.3 billion, according to the tech giant.
EU still far from tariff deal with US: French minister
The European Union and United States are far from reaching a deal on tariffs, France's economy minister said Thursday, as the bloc seeks a way out from trade tensions with Washington. But at an IMF event Thursday, German Finance Minister Joerg Kukies said he was hopeful both sides could reach a deal before the 90-day window closed.
Panama president says moving toward reopening contested mine
Panamanian President Jose Raul Mulino said Thursday that his government was working toward the reopening of Central America's biggest copper mine, despite fierce opposition from environmentalists. The company said last month that it would suspend the action after starting talks with the government on reopening the mine.
Trump trade deals appear distant as tariff tensions simmer
US President Donald Trump's promises of securing trade deals with major partners took another blow Thursday, with a French minister saying an agreement with the EU was "a long way" off and China insisting talks had not even started. Separately, France's economy minister Eric Lombard said Thursday in Washington that the EU and United States are far from reaching a deal on tariffs.
Trump tariff talks are prolonging uncertainty: S.Africa central bank chair
The central bank governor of G20 chair South Africa warned Thursday that the ongoing trade talks sparked by US President Donald Trump's tariff plans could prolong uncertainty in the global financial markets. This, he added, meant that the uncertainty that has roiled global financial markets could be around for a "long" time to come.
Corona beer maker Modelo says to invest $3.6 bn in Mexico
Grupo Modelo, the producer of Corona and other Mexican beer brands, said Thursday that it would invest more than $3.6 billion in Mexico despite trade tensions with the United States. Last month, US retail giant Walmart said that it would invest more than $6 billion in Mexico this year, generating several thousand jobs.
American Airlines pulls 2025 forecast on economic uncertainty
American Airlines withdrew its full-year profit forecast Thursday, citing economic uncertainty that has clouded its outlook for hiring and capacity additions. While American plans to add between two and four percent flying capacity in the second quarter, the outlook is fuzzier for the second half of 2025.
AFP
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