Economy

Economy Latest News

TotalEnergies in landmark greenwashing trial in France
TotalEnergies in landmark greenwashing trial in France
by  AFP

Environmental groups took TotalEnergies to court Thursday in a landmark Paris trial, accusing the French oil and gas giant of misleading consumers with ads that overstate its climate commitments and fossil fuel transition.

Dr Martens seeks more stability after new profit slide
Dr Martens seeks more stability after new profit slide
by  AFP

British iconic bootmaker Dr Martens on Thursday announced another sharp drop in annual profits, as it looks to build on recent stability under its new chief executive. Recently-appointed chief executive Ije Nwokorie said in the earnings statement that Dr Martens had made annualised cost savings of £25 million.

US trade deficit sharply narrows in April as Trump tariffs take hold
US trade deficit sharply narrows in April as Trump tariffs take hold
by  AFP

The US trade deficit more than halved in April, government data showed Thursday, pulling back from a record as imports on a plunge in imports as President Donald Trump's global tariffs kicked in. In March, the overall US trade deficit widened to a new record of $138.3 billion as businesses sought to get ahead of Trump's promised duties.

Clean energy investment rising despite economic uncertainty: IEA
Clean energy investment rising despite economic uncertainty: IEA
by  AFP

Investment in clean energy technologies is set to strike a record this year despite global economic uncertainty, double the spending on fossil fuels that will dip for the first time since 2020, the International Energy Agency said Thursday. It expects investment in clean technologies, including nuclear and electricity distribution grids, to hit a record $2.2 trillion this year.

TotalEnergies on trial in landmark greenwashing case in France
TotalEnergies on trial in landmark greenwashing case in France
by  AFP

French oil and gas giant TotalEnergies goes on trial in Paris on Thursday over allegations of misleading climate claims, an unprecedented "greenwashing" case against a fossil fuel firm in France. A greenwashing case against Australian oil and gas producer Santos, challenging its claim to be a "clean fuels" company, has been ongoing since 2021.