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Taiwan's economy accelerates in second quarter
Taiwan's economy accelerates in second quarter
Business and Economy
by  AFP

Taiwan's economy grew at a forecast-busting pace in the second quarter, official data showed Thursday, fuelled by demand for AI technology and firms placing orders before threatened US tariffs hit. And it was the fastest quarterly growth since the second quarter of 2021 when the economy grew by 8.28 percent, government data show.

Shell net profit retreats on lower energy prices
Shell net profit retreats on lower energy prices
Business and Economy
by  AFP

British energy giant Shell on Thursday said its net profit slid 23 percent in the first six months of the year, hit by lower oil and gas prices. Earlier this year, Shell's British rival BP launched a major pivot back to its oil and gas business, shelving its once industry-leading ambitious renewable energy strategy.

US tariffs corrode steelmaker ArcelorMittal's profitability
US tariffs corrode steelmaker ArcelorMittal's profitability
Business and Economy
by  AFP

The world's number two steelmaker, ArcelorMittal, said on Thursday its half-year net profit jumped on exceptional items but US tariffs began to eat into its margin. Net profit for the period from January through June rose 39 percent from the same period in 2024 to hit $2.6 billion, thanks to a $1.7 billion exceptional gain from acquiring a stake in a US unit ceded by Nippon Steel.

BMW profits slump on China woes, US tariffs
BMW profits slump on China woes, US tariffs
Business and Economy
by  AFP

BMW said Thursday its profits slumped by a third in the second quarter as the German premium carmaker was hit hard by falling sales in key market China and US tariffs. Revenues slipped eight percent to 34 billion euros as sales fell 14 percent in China, where German carmakers are facing fierce competition from local rivals particularly when it comes to electric vehicles.