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Shell annual profit drops to $16 bn as oil prices fall
British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil and gas prices as well as asset write-offs. In late 2024, Shell announced it was cutting hundreds of jobs from its oil and gas exploration division to reduce costs.
Fury over prices in Croatia sparks growing retailer boycotts
Fed up with paying ever increasing prices at grocery stores and shopping outlets, Croatians have begun channeling their anger into a nascent boycott movement targeting retailers that shows signs of spreading across the Balkans.
UK car sector fears for Trump tariffs as output falls
Britain's vehicle production slid below one million units last year as the sector transitions to electric cars, an industry body said Thursday as it warned over US President Donald Trump's tariff threats. Output is forecast to decline further this year to 839,000 units before returning to above one million vehicles in 2028, it added.
French economy shrinks as political crisis eclipses Olympic boost
The French economy grew 1.1 percent in 2024 but shrank in the fourth quarter as a political crisis gripped the country after a boost from the Paris Olympic Games, official data showed Thursday. The institute had expected the economy to post zero growth in the October-to-December period after growing by 0.4 percent in the third quarter, which includes the summer months of the Olympic games.
EU holds auto talks to revive embattled car sector
EU talks to relaunch Europe's embattled car industry are to get underway on Thursday, with automotive CEOs awaited in Brussels to discuss fines and competition from China. The car industry in particular has been plunged into crisis by high manufacturing costs, a stuttering switch to electric vehicles (EV) and increased competition from China.
ECB to look past Trump risk and push on with rate cuts
Despite US President Donald Trump's sabre-rattling, the European Central Bank is set to press on with interest rate cuts Thursday as officials increasingly voice confidence that the fight against inflation is on track. Felix Schmidt from Berenberg Bank was among economists predicting a fresh rate cut by the ECB Thursday, believing that inflation will ease in 2025.
Asian markets diverge in thin trade, with AI impact in focus
Asian equities were mixed in another holiday-thinned trading day Thursday, with investors digesting broadly positive tech earnings that came days after the upheaval caused by China's DeepSeek explosion onto the global AI scene. The DeepSeek news provided an extra facet to the current earnings season, with focus on how US tech giants will react.
Australia says reliance on coal-fired power drops to record low
Australia's reliance on coal-fired power stations has dropped to a record low, accounting for less than 50 percent of its electricity for the first time, the market operator said Thursday.
Salvadoran town hopes Trump brings 'good times' for bitcoin
Bitcoin enthusiasts seeking to turn a mountain town in El Salvador into a cryptocurrency haven hope that US President Donald Trump's return to the White House will boost their cause. In 2021, El Salvador became the world's first country to establish bitcoin as legal tender, at the initiative of President Nayib Bukele, one of the country's most fervent cryptocurrency enthusiasts.
AFP
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