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Volkswagen says tariffs will dampen business as profit plunges
Europe's largest carmaker Volkswagen said Wednesday that first quarter profit plunged due to higher costs as it warned of muted business for the rest of the year in the wake of trade tensions.
Jeep owner Stellantis suspends 2025 earnings forecast over tariffs
Stellantis, the parent company of Jeep, Peugeot and Fiat, said Wednesday it was suspending its 2025 earnings forecast due to uncertainty caused by US tariffs. Nevertheless, Stellantis said it was "suspending its 2025 financial guidance...due to evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."
French economy returns to thin growth in first quarter
France's economy returned to growth in the first three months of the year but the expansion was modest, held back by sluggish household consumption and stagnant investment, official data showed Wednesday.
Japan tariff envoy departs for round two of US talks
Tokyo's tariffs envoy departed Wednesday for a second round of negotiations in Washington, where Japan could offer concessions such as tweaking vehicle import procedures to secure relief from Donald Trump's trade levies. The yen has risen significantly since Trump's tariffs were announced -- it was trading at 142 for a dollar on Wednesday, compared with 158 in mid-January. kh-hih-kaf/dan
Asian markets struggle as trade war hits China factory activity
Stocks started limply Wednesday as investors struggled to match Wall Street's rally, with data showing Chinese factory activity contracted this month at its fastest pace for nearly two years as Donald Trump's trade war kicked in.
Samsung Electronics posts 22% jump in Q1 net profit
South Korean tech giant Samsung Electronics reported a better-than-expected 21.7 percent rise in first-quarter net profit on Wednesday as consumers rushed to buy smartphones under the looming threat of US tariffs. The world's largest memory chipmaker reported net profit of 8.22 trillion won ($5.75 billion) for the January–March quarter, up 21.7 percent on-year.
China's manufacturing shrinks in April as trade war bites
China's manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States.
Financial markets may be the last guardrail on Trump
Since returning to the White House, Donald Trump has ushered in sweeping changes to international geopolitics and US government administration with little regard for norms that have constrained predecessors. The White House quickly shifted its tone on China and Trump reassured the public that he won't fire Powell.
US growth figure expected to make for tough reading for Trump
US GDP figures for the first quarter are expected to show a sharp drop-off in growth -- and possibly even a recession -- reflecting a surge in imports before President Donald Trump's sweeping tariffs came into effect.
AFP
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