A federal judge in New York ordered Argentina on Monday to sell its majority stake in oil firm YPF, the latest blow to Buenos Aires in a decade-long international legal saga. To partially satisfy the outstanding sum, Preska on Monday ordered Argentina to transfer its 51 percent stake of YPF to an intermediary, with instructions that the shares then be handed over to the plaintiffs.
President Donald Trump's threat to impose a 200 percent tariff on many European Union alcohol imports, amid a spiralling trade war, will hit a market worth $10 billion to EU producers in 2023, according to World Trade Organisation figures.
Georgian designer Demna is leaving Balenciaga after a decade to become artistic director of Gucci, the French parent company of both brands, Kering, said Thursday. "Kering and Gucci are delighted to announce the appointment of Demna as the house's new artistic director, starting early July 2025," it said.
A trial to decide Australian mining giant BHP's liability for one of Brazil's worst environmental disasters concluded in London on Thursday, with hundreds of thousands of victims demanding billions in compensation. The Australian mining giant has also said the quality of water in the river system contaminated by the fallout has returned to pre-disaster levels. burs-ode/bcp/ajb/jhb
The European Union is ready to negotiate with the United States over escalating tariffs between the two economic superpowers, European Commission head Ursula von der Leyen said Thursday. The bloc's trade commissioner was in contact with his counterpart in the United States and they were expected to have a phone call Friday on the tariff row, von der Leyen said. br/ho/jhb
The lawmakers considered the recommendations clause-by-clause, after the committee chairman James Falake moved the motion. Two sections were altered.
Sweden's government said Thursday it will hold talks with food producers and distributers as a consumer movement over soaring costs in the Nordic country gains traction.
European and US policy makers are eyeing deeper ties around natural gas even as trade conflict boils and President Donald Trump challenges the long-running transatlantic alliance. Some Europeans are privately discussing "why should I trade reliance on Vladimir Putin for reliance on Donald Trump?"
The captain of a cargo ship that struck a tanker and sparked a massive blaze in the North Sea will be held in custody for a further 36 hours, UK police said Thursday. "An extension has been granted by the magistrates' court to detain the man in custody for a further 36 hours," said Craig Nicholson of Humberside Police.
Donatella Versace will end nearly 30 years as creative director of fashion label Versace, handing the reins of the flashy luxury brand to Miu Miu's Dario Vitale, the brand's owner said Thursday. Miu Miu's retail growth soared 93 percent last year.
Economy
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