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Inside Germany's rare earth treasure chest
Inside Germany's rare earth treasure chest
Economy
by  AFP

In a World War II bunker east of Frankfurt, a steel door weighing over four tonnes protects Germany's largest reserve of rare earths, a treasure at the heart of rising geopolitical tensions. Germany's flagship automotive sector is especially affected by the restrictions because it is dependent on rare earth magnets.

Ikea profits drop on lower prices, tariff costs
Ikea profits drop on lower prices, tariff costs
Economy
by  AFP

The world's leading furniture company, Ikea, reported a sharp fall in annual profits on Friday as it focused on dropping prices to boost volume and faced higher costs due to US tariffs. "The higher sourcing costs included the costs for increased tariffs, which have been partly absorbed," Inter Ikea said in a statement, referring to import taxes imposed by US President Donald Trump.