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Natural disasters caused $135 bn in economic losses in first half of 2025: Swiss Re
Natural disasters caused $135 billion in economic losses globally in the first half of 2025, fuelled by the Los Angeles wildfires, Swiss Re said Wednesday.
German factory orders fall amid tariff, growth woes
German industrial orders unexpectedly fell in June, official data showed Wednesday, as Europe's biggest economy struggles with prolonged domestic weakness and volatile US trade policy. Orders from abroad fell three percent, with a particularly heavy drop from countries outside the eurozone, while domestic orders increased slightly.
Ozempic maker Novo Nordisk posts strong results but competition weighs
Danish pharmaceutical giant Novo Nordisk posted a sharp rise in second-quarter net profit Wednesday, but rising competition is weighing on sales of its diabetes and obesity treatments Ozempic and Wegovy in the United States. But it now faces growing competition from rival treatments made by US group Eli Lilly in United States.
Taiwan's orchid growers dig in as US tariffs shoot up
Since the start of US President Donald Trump's global trade war, Taiwanese orchid grower Lee Tsang-yu has watched tariffs on his seedlings shoot from nothing to 20 percent. Until now, most growers have been absorbing the cost of the 10 percent tariff that Trump slapped on nearly every trading partner in April, said Ahby Tseng, 53, secretary-general of the Taiwan Orchid Growers Association.
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
Hong Kong's Cathay Pacific said Wednesday it would place a US$8.1-billion order for 14 Boeing jets, its first order with the American aircraft maker for 12 years. The airline has "exercised the purchase rights... to purchase 14 Boeing 777-9 aircraft; and... secured the right to acquire up to seven additional Boeing 777-9 aircraft", it said in a filing to the Hong Kong stock exchange.
Steeper US tariffs take effect on many Brazilian goods
US tariffs on many Brazilian products surged Wednesday, as President Donald Trump moved ahead with a pressure campaign against the trial of his right-wing ally Jair Bolsonaro. Trump's pressure campaign has angered many Brazilians but endeared him to Bolsonaro's conservative base.
'Not backing down': activists block hydro plants in N.Macedonia
Deep in the rugged forests of North Macedonia, small-hydropower developers are facing off with activists who warn that a thirst for lucrative green energy contracts is threatening the country's rivers. - 'Not backing down' - One of the few rivers in North Macedonia still clean enough to drink from, the Dosnica is a small tributary to the Vardar, which flows into Greece.
Investors walk fine line as Trump tariffs temper rate hopes
Asian investors trod warily Wednesday amid lingering uncertainty over Donald Trump's trade war, while another round of data indicated further weakness in the US economy but added interest rate cut speculation. After a strong start to the week sparked by hopes that painful jobs data will force the US Federal Reserve to lower rates next month, another batch of figures added fuel to the fire.
Trump targets tariff evasion, with eye on China
As the United States ramps up tariffs on major trading partners globally, President Donald Trump is also disrupting strategies that could be used -- by Chinese companies or others -- to circumvent them.
AFP
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