Prices of petroleum products are expected to rise from May 16 even if the government extends the programme aimed at cushioning consumers against rising prices
Prices of petroleum products are expected to rise from May 16 even if the government extends the programme aimed at cushioning consumers against rising prices
TotalEnergies said Wednesday that its net profit fell in the first quarter despite expanding production, as a slide in global crude oil prices penalises the financial performance of energy firms. TotalEnergies boosted crude oil production by two percent from the first quarter of 2024, but that wasn't enough to compensate for nine percent drop in the international reference price.
Europe's largest carmaker Volkswagen said Wednesday that first quarter profit plunged due to higher costs as it warned of muted business for the rest of the year in the wake of trade tensions.
Stellantis, the parent company of Jeep, Peugeot and Fiat, said Wednesday it was suspending its 2025 earnings forecast due to uncertainty caused by US tariffs. Nevertheless, Stellantis said it was "suspending its 2025 financial guidance...due to evolving tariff policies, as well as the difficulty predicting possible impacts on market volumes and the competitive landscape."
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