Economy

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In US capital, Trump tariffs bite into restaurant profits
In US capital, Trump tariffs bite into restaurant profits
by  AFP

Brazilian coffee beans, French champagne and Chinese teas -- drinks are a profit driver for US restaurants, but higher import costs have eaten into margins and fed into consumer prices in the three months since President Donald Trump unveiled sweeping global tariffs.

Tesla reports lower car sales but figures better than feared
Tesla reports lower car sales but figures better than feared
by  AFP

Tesla reported another hefty drop in auto sales Wednesday, extending a difficult period amid intensifying electric vehicle competition and backlash over CEO Elon Musk's political activities. But Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.

UK govt backs finance minister after tears in parliament
UK govt backs finance minister after tears in parliament
by  AFP

The British government said Wednesday that finance minister Rachel Reeves was "going nowhere" after she appeared visibly upset in parliament as rumours swirled around her future. It came after Starmer's Labour government U-turned over key welfare reforms, wiping out a multibillion-pound boost to public finances and triggering speculation that Reeves could lose her job.