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Volvo Cars anticipates bumpy 2025 as demand slows
Sweden's Volvo Cars, owned by China's Geely Group, said Thursday that annual profits rose in 2024 despite a final quarter slowdown but that the outlook for this year is tougher. Volvo Cars shares slumped back around 11 percent mid-afternoon on the Stockholm Stock Exchange, with investors disappointed over year-end profitability and concerned about the 2025 outlook.
Shein, Temu face cost of adapting to new US customs rules
US tariffs on Chinese imports and the closing of a customs loophole will wreak disruption on the business models of e-commerce giants Shein and Temu, with consumers potentially bearing the brunt of the cost, analysts say.
EU quizzes Shein over 'illegal' products
The EU on Thursday told online fashion giant Shein to hand over information on risks linked to illegal products on its site, paving the way for a second probe into the Chinese-founded firm. "The Commission is requesting Shein to provide internal documents and more detailed information on risks linked to the presence of illegal content and goods on its marketplace," it said.
Decathlon on back foot over China forced labour accusations
French company Decathlon, the world's biggest sports equipment retailer, on Thursday defended its human rights record after reports it had benefited from forced labour in China.
UK to quicken rollout of mini-nuclear reactors
Britain's Labour government on Thursday said changes to planning laws will speed up the country's rollout of mini-nuclear reactors aimed at providing cheaper and cleaner energy.
French parliament finally adopts 2025 budget
The French parliament on Thursday finally adopted the state's 2025 budget following a tumultuous months-long process that saw the previous government toppled and the current administration survive multiple no confidence votes.
Gucci ousts chief designer De Sarno after sales slump
Luxury giant Gucci announced Thursday it was parting ways with its chief designer Sabato De Sarno following a sales slump, in the latest shakeup at a major European label. "Gucci today announces the end of its collaboration with creative director Sabato De Sarno," the fashion brand owned by French luxury group Kering said.
Scientists' conference kicks off global AI summit in Paris
Global experts will debate threats from artificial intelligence (AI) at a gathering in Paris on Thursday and Friday, ahead of a summit of world leaders on the fast-moving technology. "This summit has to be a moment to position Paris as the global capital of AI," digital minister Clara Chappaz told AFP journalists.
Honda-Nissan merger talks 'basically over': source
Nissan's board is in favour of abandoning merger talks with Honda but calling them off has yet to be officially decided by executives at the two Japanese carmakers, a source close to the matter told AFP on Thursday. The source said Thursday that Nissan's board of directors had agreed to abandon the talks on Tuesday.
AFP
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