AFP
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First half net profit plunges 22% at French luxury group LVMH
French luxury group LVMH saw net profit plummet 22 percent in the first half of 2025, the company announced Thursday, blaming the plunge on an "unsettled economic and geopolitical" backdrop. In the wake of the US president's April 2 "Liberation Day" tariff announcements, Arnault, Europe's richest man, saw Hermes overtake LVMH as the world's most valuable luxury company.
American Airlines shares fall on weak forecast
American Airlines shares tumbled Thursday as the carrier projected a third-quarter loss due to lingering weakness in the US leisure market. The carrier projected a third-quarter loss of between 10 and 60 cents per share, and offered a full-year forecast range of between a loss of 20 cents and a gain of 80 cents per share.
Trump to tour Fed as war on central bank chief ramps up
Donald Trump is due to visit the US Federal Reserve Thursday as the president escalates his pressure on its chairman Jerome Powell over the central bank's management of the economy. The Federal Reserve, the world's most important central bank, makes independent monetary policy decisions, and its board members typically serve under both Republican and Democratic presidents.
EU turns up pressure with Trump trade deal 'in reach'
With the contours of a hard-fought EU-US trade deal taking shape, the European Union is flexing its muscles in a bid to squeeze concessions from US President Donald Trump in the run-up to his deadline of August 1.
India's Modi and UK PM Starmer ink trade deal
Prime Minister Keir Starmer praised Britain's "unique bonds" with India as he and his Indian counterpart Narendra Modi formally signed a recently announced UK-India trade deal during talks on Thursday. Starmer and Modi announced in May they had struck a free trade agreement that the British government says will eventually add £4.8 billion ($6.5 billion) a year to the UK economy.
Nestle struggles amid weak China market
Nestle said Tuesday its net profit fell in the first half of the year as the Swiss food giant behind Nespresso coffee capsules and KitKat chocolate bars struggles to turn around its fortunes amid sluggish consumer spending in China. Nestle made a surprise switch of its chief executive least year amid soft spending by consumers for food and household goods.
Deutsche Bank posts bumper profits, shares soar
Deutsche Bank on Thursday reported its highest second-quarter profit since 2007 and said it was on track to meet annual targets, sending shares in Germany's biggest lender soaring. Thursday's result "puts us on track to meet our 2025 targets", said CEO Christian Sewing.
TotalEnergies net profit drops as oil prices fall
TotalEnergies said Thursday its net profit plunged in the second quarter despite increased output as global oil and gas prices dropped. Despite the 29 percent year-on-year drop in net profit in the second quarter to $2.7 billion, the French firm called its performance "robust".
BTS agency HYBE raided over alleged fraud trading
HYBE, the agency behind K-pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said. Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company's 2020 initial public offering.
AFP
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