AFP
20238 articles published since 08 Mar 2022
- All (20238)
- Economy (8452)
- Business and Economy (5268)
- World (4605)
- Africa (977)
- Technology (931)
- US (2)
- Asia (2)
- Nigeria (1)
Author's articles
Toyota maintains net profit forecast despite drop in first half
Japanese auto giant Toyota kept its annual net profit forecast unchanged on Wednesday, despite logging a 26 percent drop for the first half of this financial year. Although its second-quarter earnings were far lower than analyst expectations, the company still forecasts full-year net profit of 3.57 trillion yen.
Asian markets rise with dollar, bitcoin as ealy US results roll in
Most Asian markets rose with the dollar and bitcoin on Wednesday as traders await the outcome of the knife-edge US presidential election, with bets increasing on a Donald Trump victory as early results rolled in. In early trade, markets in Tokyo, Sydney, Shanghai, Seoul, Singapore, Wellington and Taipei rose, though there were losses in Hong Kong.
US writes off over $1 billion of Somalia debt
The United States and Somalia reached an agreement on Tuesday for Washington to cancel more than $1 billion debt owed by the troubled Horn of Africa nation. In March, Mogadishu secured an agreement with international creditors to cancel more than $2 billion in debt, the Paris Club of creditor nations said.
US September trade deficit widest in over two years
The US trade deficit expanded in September to its widest since early 2022 as imports increased while companies stocked up ahead of possible disruptions like a dockworkers' strike, according to government data released Tuesday. The rise in imports came ahead of the year-end holiday season, and may be due to companies stocking up in anticipation of a dockworkers' strike.
'Black day': French workers protest Michelin plans to close two plants
Michelin factory workers burnt tyres in western France on Tuesday and vowed to stage a strike after the tyre company said it would close two plants by early 2026 over collapsing sales. Michelin had already closed its La-Roche-sur-Yon site in western France in 2020, and is preparing to close two plants in Germany by 2025.
Dutch, French authorities raid Netflix offices in tax probe
French and Dutch authorities raided streaming giant Netflix's offices in Paris and Amsterdam Tuesday as part of a tax fraud probe, a judicial source told AFP. The search of "various locations" in France by specialist financial investigators relates to suspicions of "covering up serious tax fraud and off-the-books work" and is part of a probe opened in November 2022, the source said.
'Incalculable' bill awaits Spain after historic floods
The destruction wreaked by Spain's deadliest floods in a generation in one of the country's economic motors will leave a huge bill for the state and the insurance sector. The flooding of fields dealt a heavy blow to agriculture in the Valencia region, one of Spain's breadbaskets and a major citrus fruit exporter.
Europe auto struggles lead to cuts at Michelin, Germany's Schaeffler
French tyre company Michelin said Tuesday it would close two French plants by early 2026 and German parts maker Schaeffler announced 4,700 job cuts, the latest signs of struggles in the European auto industry. The company said it would support its employees, including with job offers in other companies or within the group, or early retirement.
Norway speeds ahead of EU in race for fossil-free roads
On the quiet streets of an Oslo suburb, electric vehicles are parked in nearly every other driveway as Norway speeds towards its goal of becoming the first country free of fossil fuel-powered cars. - A-ha takes on EVs - Electric cars have also long benefited from other special privileges, like exemptions from city tolls and free parking in public car parks.
AFP
Load more