Author: Grace Johnson

Shares of Chinese electric vehicle maker BYD dropped by up to 8% on Monday. The decline followed weaker earnings, pressured by fierce price cutting across the industry. Quarterly results reveal decline On Friday, BYD reported net profit of 6.4bn yuan ($900m; £660m) for April to June. The result showed a 30% fall compared with the same quarter last year. The company admitted that stronger price competition has weighed heavily on the EV sector. Rivals push harder in crowded field The Shenzhen-based automaker faces rivals Nio and XPeng, as well as Tesla. All have lowered prices to attract buyers. BYD shares…

Beer consumption in Germany is falling, while alcohol-free varieties are reaching new highs. The federal statistics office reports sales of alcohol-free beer have grown by 109 percent since 2013. In contrast, overall beer sales are now at their lowest level in more than 30 years. For the first time, sales fell below four billion liters in a half-year period. Between January and June 2025, German breweries sold around 3.9 billion liters. That equals a decline of 6.3 percent, or 262 million liters, compared with the same period last year. breweries chase new opportunities Erdinger brewery near Munich has been in…

A US appeals court has ruled that most tariffs imposed by Donald Trump were unlawful. The decision delivers a sharp setback to his trade agenda and sets up a likely Supreme Court confrontation. The judgement invalidates Trump’s “reciprocal” tariffs targeting dozens of countries. It also blocks levies against major partners such as China, Mexico and Canada. Judges deny Trump tariff powers In a 7-4 ruling, the US Court of Appeals for the Federal Circuit declared the tariffs “invalid as contrary to law”. The judges rejected Trump’s reliance on the International Emergency Economic Powers Act. They stated that the authority to…

The United States has ended a decades-old tariff exemption that helped fuel trade in low-cost goods. From Friday, imports valued at $800 or less will no longer be duty-free and will face stricter customs checks. The move will impact millions of packages every day. In 2023, nearly 1.4 billion parcels worth more than $64bn entered the US duty-free under the de minimis rule. Experts warn the change will hit small businesses hardest and push prices higher, leaving shoppers with fewer options. “I’ve reached the point of acceptance, but when I first heard the news, I thought it could end my…

Nvidia continues to surge as worldwide demand for artificial intelligence grows, even as international disputes threaten its progress. On Wednesday, the chip designer reported revenue of $46.7bn (£34.6bn) for the second quarter, up 56% compared with the same period last year. Despite the strong earnings, shares dipped in after-hours trading after executives admitted the company was still “working through geopolitical issues”. Nvidia remains caught in the escalating trade conflict between Washington and Beijing. Shifting US policies under the Trump administration, designed to protect America’s lead in artificial intelligence, add more pressure on the firm’s outlook. Chip demand fuels rapid expansion…

South Korea has approved a law banning smartphones and other smart devices in classrooms. The country follows a growing global trend restricting phone use among children and teenagers. The law will come into force in March 2026. Lawmakers from both government and opposition supported the decision. They argue it is needed to tackle smartphone addiction, which research increasingly links to harmful consequences. Parents and lawmakers push for limits Supporters say phones distract from lessons and reduce academic results. They argue children spend too much time scrolling instead of studying or socialising. Parents fear smartphones stop their children from developing friendships…

US President Donald Trump has declared he will remove Federal Reserve governor Lisa Cook from office immediately. The move escalates his battle with the central bank to new levels. Trump argued there was “sufficient reason” to accuse Cook of submitting false mortgage information. He cited constitutional authority he claimed empowered him to act. Cook rejected the decision, insisting the president lacked the power to dismiss her. She vowed she would not resign. No president has ever attempted to fire a Federal Reserve governor. Trump’s step follows his repeated attacks on the bank and its chair Jerome Powell. He has long…

Vintage once ruled the wine world In wine, the vintage has always been king. Every bottle of red, white, or rosé almost always carries the year of harvest on the label. Non-vintage still wine, which blends grapes from several years, has long been seen as cheap and undesirable. It is also far less common. But climate change is now shaking this tradition. Heatwaves, droughts, and extreme weather push winemakers to seek consistency. A small but growing group of respected wineries now release non-vintage bottles. They argue blending ensures quality when nature brings chaos. Napa Valley feels the heat Chris Howell,…

Illinois Governor JB Pritzker denounced President Donald Trump’s plan to send troops to Chicago. He said the move is an abuse of power. Pritzker argued no emergency justifies deploying the National Guard in Illinois. He accused Trump of fabricating a crisis for political gain. Trump already stationed about 2,000 troops in Washington DC. The capital’s Democratic leaders strongly oppose the action. Trump frames the deployment as part of a wider crime crackdown in US cities. On Friday, he suggested Chicago and New York would be next. Chicago mayor voices strong opposition Chicago Mayor Brandon Johnson said he received no official…

US Secretary of Commerce Howard Lutnick announced on Friday that Washington will acquire a 10% stake in Intel. “This historic agreement strengthens American leadership in semiconductors. It will grow our economy and secure our technological edge,” Lutnick wrote on X. He added a photo of himself with Intel CEO Lip-Bu Tan. President Donald Trump disclosed the deal earlier in the Oval Office. He called it “a great deal for them.” Shares of the Santa Clara-based chipmaker rose more than 5% on Friday. Intel confirmed that the US government will invest $8.9bn (£6.6bn) in its common stock. Government uses redirected grants…