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McDonald's profits hit by weakness in US market
Fast food giant McDonald's reported a drop in first-quarter profits Thursday as US traffic from low- and medium-income customers diminished amid economic anxiety in the wake of President Donald Trump's trade wars. Shares of McDonald's fell 1.3 percent in afternoon trading. jmb/aha
US-Ukraine minerals deal: what we know
Washington and Kyiv have signed a new minerals deal that will see the United States invest in Ukraine's rare earth and other deposits as it seeks to reduce military aid to the war-torn country. Kyiv says "rare earth metals are known to exist in six deposits" and an investment of $300 million would be needed to develop a deposit at Novopoltavske, which it claimed was one of the world's largest.
GM cuts 2025 outlook, projects up to $5 bn hit from tariffs
General Motors pledged Thursday to take additional steps to boost its US supply chain after projecting a $4-5 billion hit to the US auto giant's 2025 earnings from President Donald Trump's tariffs. GM postponed its earnings conference call until Thursday after Trump's tariffs move.
IKEA opens new London city centre store
Swedish furniture giant IKEA on Thursday opened a new store in the heart of London's shopping district, with a flurry of balloons, flags -- and giant meatballs. Some shoppers held Swedish and UK flags as they posed for photos with a giant meatball, as others browsed the store, which it is hoped will help regenerate Oxford Street after the closure of several big-name outlets.
Microsoft raises Xbox prices globally, following Sony
Microsoft announced Thursday that it will increase Xbox console prices worldwide, citing "market conditions" just days after Sony made a similar move with its PlayStation 5. In mid-April, Sony announced price increases for several PlayStation 5 models in select markets, including Europe but notably excluding the United States.
Tesla sales plunge further in France, down 59% in April
Sales of Tesla cars in France plunged 59 percent in April, piling on more bad news for the electric vehicle company run by Elon Musk, the billionaire advisor to US President Donald Trump.
US reaching out to China for tariff talks: Beijing state media
United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and global supply chains, a Beijing-backed outlet said on Thursday citing sources.
Nuclear power sparks Australian election battle
Rich in solar and wind power, and bulging in critical minerals for renewable energy technology, Australia touts itself as a leader in the race to net zero carbon emissions. The row is reminiscent of the "climate wars" -- a years-long political face-off over the need to slash carbon emissions -- that Prime Minister Anthony Albanese vowed to end when he took power three years ago.
Tokyo stocks rise as BoJ holds rates steady
Japanese stocks rose Thursday as the central bank kept its key interest rates steady as expected, in thin trade with most Asian markets shut for the May 1 holiday. Several markets were shut in Asia for holidays on Thursday, including in Hong Kong and mainland China.
AFP
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