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Spain moves to slash working week to 37.5 hours
Spain's minority leftist government on Tuesday approved a plan to reduce the working week to 37.5 hours in one of the world's fastest-growing developed economies. The Socialists committed to reduce the working week from 40 hours to 37.5 hours without any loss of salary by the end of 2025 as part of their 2023 coalition deal with the far-left party Sumar.
Ferrari reports another record-breaking year
Italian luxury carmaker Ferrari posted another set of record results on Tuesday, with net profit surging to more than 1.5 billion euros last year. Ferrari had already posted a net profit for 2023, up 34 percent to 1.25 billion euros.
Ordinary Chinese stoic in the face of escalating US trade war
After China announced retaliatory tariffs against the United States, walkers along Shanghai's waterfront were stoic Tuesday in face of both the cold and the prospect of an escalating trade war. "The United States has been carrying out some very severe measures and policies against China.
Scottish whisky makers fear return of Trump tariffs
At the end of a wild peninsula battered by winds in west Scotland is a zero-carbon whisky distillery that's bracing for the possible return of US tariffs. Geopolitical trade tensions feel far away from the small Nc'nean distillery, tucked away in Drimnin on the sparsely populated Morvern peninsula, western Scotland.
Rare earths: strategic metals key to future technologies
Rare earths, which President Donald Trump hopes to secure from Ukraine as part of a deal for US aid, are strategic metals essential for industries developing computers, batteries, and cutting-edge energy technology.
Tequila maker Diageo axes sales target on Trump tariffs
Diageo, the maker of Guinness stout and Johnnie Walker whisky, scrapped Tuesday a key performance target with President Donald Trump's tariff plans set to sour its US sales of tequila and Canadian spirits. Diageo said the tariffs would hit its tequila portfolio, given it must be made in Mexico, as well as Canadian whisky.
Where things stand in China-US trade tensions
China has made good on its threats to retaliate in the escalating trade war with the United States, imposing tariffs on American imports of energy, cars and machinery parts. Tariffs of 15 percent will be imposed on imports of coal and liquefied natural gas from the United States.
Panama lawsuit requests axing Hong Kong firm's canal concession
Two Panamanian lawyers filed a complaint Monday to cancel the concession of a Hong Kong-based company for operating two ports on the Panama Canal, following US President Donald Trump's threats to seize the vital waterway.
UBS profit beats forecast as Credit Suisse merger nears end
Swiss banking giant UBS posted better-than-expected fourth quarter results on Tuesday and confidently predicted its mega-merger with Credit Suisse would be substantially wrapped up by the end of 2026 as planned.
AFP
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