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Volvo Cars swings into loss on electric vehicles, tariffs
Volvo Cars swings into loss on electric vehicles, tariffs
Economy
by  AFP

Volvo Cars announced on Thursday it had swung into loss in the second quarter, after it took an impairment charge for its electric cars, booked restructuring charges and dealt with a slower, tariff-troubled market. Volvo Cars announced in April an 18-billion-kronor cost-cutting plan, part of efforts to navigate a car market buffeted by US tariffs and a costly switch to electric vehicles.

Dairy giant New Zealand endures butter price shock
Dairy giant New Zealand endures butter price shock
Economy
by  AFP

Butter prices have soared in dairy export giant New Zealand, latest figures showed Thursday, with local supplies cut short as the industry chases fatter profits overseas. But while New Zealand consumers were feeling the price pinch, the overall economy was benefiting as exporters creamed off larger profits from sales overseas.

Taiwan's TSMC says second quarter profit up 60%
Taiwan's TSMC says second quarter profit up 60%
Economy
by  AFP

Taiwanese chipmaking giant TSMC reported Thursday a forecast-beating 60 percent rise in net profit for the second quarter on sustained demand for artificial intelligence technology. Second quarter revenue was up 39 percent on-year, also beating forecasts.