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Chinese EV battery giant CATL posts 33% surge in Q1 profit
Chinese EV battery giant CATL posts 33% surge in Q1 profit
Economy
by  AFP

The world's leading maker of electric vehicle batteries, Chinese firm CATL, posted a 32.9 percent jump in first quarter profit, even as demand for electric vehicles slows. Net profit in the first quarter was up 32.9 percent year-on-year to 13.96 billion yuan ($1.91 billion), according to a statement CATL released on the Shenzhen Stock Exchange Monday.

China's economy likely grew 5.1% in Q1 on export surge: AFP poll
China's economy likely grew 5.1% in Q1 on export surge: AFP poll
Economy
by  AFP

China is expected to post first-quarter growth of around five percent on Wednesday, buoyed by exporters rushing to stave off higher US tariffs but still weighed by sluggish domestic consumption, analysts say. They also expect that to have boosted economic growth in the first quarter.

LVMH sales dip as Trump tariffs dent luxury tastes
LVMH sales dip as Trump tariffs dent luxury tastes
Economy
by  AFP

Luxury giant LVMH saw sales fall two percent to 20.3 billion euros ($23 billion) in the first quarter of 2025 as US President Donald Trump's tariffs shook the global economy, the company said on Monday. The group behind Loewe and Dior likewise saw its worldwide fashion and leather goods revenue fall by four percent in the first quarter to 10.1 billion euros.

Man charged over Tesla arson as anti-Musk wave sweeps US
Man charged over Tesla arson as anti-Musk wave sweeps US
Economy
by  AFP

A man who allegedly torched two vehicles at a Tesla dealership and painted "Die Elon" on the side of the building has been hit with federal charges, the US Department of Justice said Monday. If convicted of the two counts of malicious damage or destruction of property by fire or explosives, he could be jailed for up to 20 years on each count, the Department of Justice said.