AFP
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German factory orders up but outlook still muted
German industrial orders rose in September for the first time in five months, data showed Wednesday, but officials warned geopolitical and supply chain woes meant the outlook remains muted. "The order situation remains fragile in view of the ongoing geopolitical uncertainties and, most recently, uncertainties surrounding the supply situation" for some products, it said in a statement.
BMW boosts profitability despite China, tariff woes
German carmaker BMW on Wednesday reported a rise in profitability in the last quarter despite facing challenges from slowing Chinese sales and tariffs. The carmaker, which also makes Mini and Rolls-Royce cars, cut its outlook for 2025 in October due to tariff costs and slowing sales in key market China, where European manufacturers are losing sales to local rivals.
Toyota hikes profit forecasts 'despite US tariffs'
Japanese auto giant Toyota on Wednesday hiked its operating income and net profit forecasts for the current fiscal year despite the impact of US tariffs. The firm said Wednesday that net income in the first half fell 7.0 percent to 1.8 trillion yen while operating income plunged 18.6 percent to 2.0 trillion.
At least 7 dead after UPS cargo plane crashes near Louisville airport
At least seven people died and several more were injured after a UPS cargo plane crashed shortly after takeoff on Tuesday from Louisville International Airport in Kentucky, exploding into flames as it crashed into businesses adjacent to the airport.
US Supreme Court hears challenge to Trump tariff powers
The US Supreme Court will hear arguments Wednesday on whether a wide swath of Donald Trump's tariffs are lawful, in a landmark case that could uphold -- or upend -- the president's economic agenda.
Where things stand on China-US trade after Trump and Xi talk
China and the United States have recently agreed to lower the temperature in their spiralling trade war, bringing a precarious end to months of back-and-forth measures between the economic and technological powerhouses.
Sri Lanka targets big fish in anti-corruption push
When Sri Lanka's economy collapsed in 2022, politicians and officials were accused of brazenly stealing the island's assets. - 'Economy collapsed' - Sri Lanka's police chief, accused of running a criminal network, was arrested and sacked earlier this year, while the prison commissioner was jailed for releasing convicts in exchange for cash.
Asian markets tumble as tech bubble fears grow
Tech companies led a sharp sell-off across Asia on Wednesday as investors grow increasingly worried about an AI bubble following a rally this year that has seen valuations hit record highs. Asia took up the baton in the morning, with Seoul and Tokyo the hardest hit, having just hit record highs.
New lawsuit alleges Spotify allows streaming fraud
A new lawsuit alleges streaming giant Spotify turns a blind eye to vast networks of bots that inflate streaming figures to benefit megastars such as Drake at the expense of lesser-known artists. Inflated streaming figures for high-profile performers would therefore diminish the proportion of money available for other artists.
AFP
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