Economy

Economy Latest News

Sweet smell of success for niche perfumes
Sweet smell of success for niche perfumes
by  AFP

They don't advertise and they are largely unknown to the general public but niche perfumes are able to command prices of hundreds of dollars from men and women seeking to stand out. "There isn't a top brand without its niche perfume today," said Eric Briones, who wrote a book about luxury and Generation Z (people born between the late 1990s and early 2010s).

Trump threatens to take back control of Panama Canal
Trump threatens to take back control of Panama Canal
by  AFP

Incoming US president Donald Trump on Saturday slammed what he called unfair fees for US ships passing through the Panama Canal and threatened to demand control of the waterway be returned to Washington.

Stellantis backtracks on plan to lay off 1,100 at US Jeep plant
Stellantis backtracks on plan to lay off 1,100 at US Jeep plant
by  AFP

Stellantis confirmed Saturday it was reversing a decision to lay off 1,100 workers at its Jeep plant in the US state of Ohio, following the ouster of embattled chief executive Carlos Tavares. The automaker had announced the job cuts at the plant in Toledo, Ohio in early November, saying it was part of an effort to "regain its competitive edge" amid struggles with falling sales.

Albania announces shutdown of TikTok for at least a year
Albania announces shutdown of TikTok for at least a year
by  AFP

Albanian Prime Minister Edi Rama said Saturday the government would shut down social network TikTok for at least a year from 2025. "We are going to chase this thug out of our neighbourhood for one year", Rama told a meeting with Albanian teachers, parents and psychologists in Tirana.

France's most powerful nuclear reactor finally comes on stream
France's most powerful nuclear reactor finally comes on stream
by  AFP

France on Saturday connected its most powerful nuclear power reactor to the national electricity grid in what leaders hailed as a landmark moment despite years of delays, budget overruns and technical setbacks. "The last time a reactor started up in France was 25 years ago at Civaux 2," he said, referring to the Civaux power plant in southwestern France.

Google counters bid by US to force sale of Chrome
Google counters bid by US to force sale of Chrome
by  AFP

Google late Friday countered a US call to sell its Chrome browser, suggesting a judge address antitrust concerns by barring the firm from making favorable treatment of its software a condition of licensing.