After recently discovering almost 20 oil blocs, Niger government is now inviting Africa’s richest man, Aliko Dangote, to help in the exploration and development.
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TotalEnergies profits drop as prices slide
TotalEnergies said Wednesday that its net profit fell in the first quarter despite expanding production, as a slide in global crude oil prices penalises the financial performance of energy firms. TotalEnergies boosted crude oil production by two percent from the first quarter of 2024, but that wasn't enough to compensate for nine percent drop in the international reference price.
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.
Sugar company belonging to Africa’s richest man grows revenue by 51%, announces 75,000 jobs
Dangote Sugar Refinery is actively working to increase sugar production by maximizing the use of locally grown sugarcane, and the results are showing in its finances
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.
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