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US tariffs corrode steelmaker ArcelorMittal's profitability
US tariffs corrode steelmaker ArcelorMittal's profitability
Economy
by  AFP

The world's number two steelmaker, ArcelorMittal, said on Thursday its half-year net profit jumped on exceptional items but US tariffs began to eat into its margin. Net profit for the period from January through June rose 39 percent from the same period in 2024 to hit $2.6 billion, thanks to a $1.7 billion exceptional gain from acquiring a stake in a US unit ceded by Nippon Steel.

BMW profits slump on China woes, US tariffs
BMW profits slump on China woes, US tariffs
Economy
by  AFP

BMW said Thursday its profits slumped by a third in the second quarter as the German premium carmaker was hit hard by falling sales in key market China and US tariffs. Revenues slipped eight percent to 34 billion euros as sales fell 14 percent in China, where German carmakers are facing fierce competition from local rivals particularly when it comes to electric vehicles.