BUSINESS

Samsung Electronics on Tuesday unveiled a record first quarter sales forecast and said it saw a better-than-expected performance for profits, beating market expectations.

Nippon Steel shares soared Tuesday after US President Donald Trump launched a review of the company's proposed takeover of US Steel that was blocked by his predecessor Joe Biden.

Monday's stock market collapses in Asia and Europe after China retaliated to steep US tariffs revived memories of similar market turmoil after the Covid pandemic and the last global financial crisis.

BP on Friday said chairman Helge Lund will step down after a major reset at the British energy giant that saw it recently shelve carbon-reduction targets to focus on fossil fuel output.

TikTok on Friday was hours from a deadline to find a non-Chinese owner or face a ban in the United States.

Amazon has made a last-minute bid to buy TikTok, which faces a US ban if not sold by its Chinese owner, the New York Times reported on Wednesday.

Japan slammed Thursday as "extremely regrettable" US President Donald Trump's sweeping new tariffs, saying they may break WTO rules and the two countries' trade agreement.

Across Asia, factory workers, directors, trade associations and analysts voiced concern Thursday that US President Donald Trump's stinging tariffs could put jobs at risk and hammer key sectors of industry.

Organized by the Sharjah Chamber of Commerce and Industry (SCCI), the festival attracted top retailers, small business owners, entrepreneurs, and productive families, contributing to the festival's dynamic nature.

Swedish insurance company Folksam said Wednesday it had given up its $160 million stake in Tesla due to the electric carmaker's approach to labor rights.

Raise prices or cut into their margins, open or close factories: carmakers must soon make major decisions as the United States imposes stiff tariffs on imported vehicles.

Prosecutors in Paris have called for German carmaker Volkswagen to face justice in France to compensate French consumers over the Dieselgate emissions fraud scandal, according to a court filing seen by AFP on Tuesday.

Support for cryptocurrencies from US President Donald Trump or Argentine leader Javier Milei has seen investors lose billions of dollars and is damaging a sector struggling for credibility, researchers told AFP. "The entire crypto industry is being tarnished," said Claire Balva, strategy director for fintech company Deblock.

Tesla sales plunged in the European Union in the first two months of the year, auto industry figures showed Tuesday, as Elon Musk's politics and ageing models may be turning consumers away.

Samsung Electronics co-CEO Han Jong-hee, credited with boosting the South Korean tech giant's television business on the global stage, died of a heart attack Tuesday aged 63, the company said. "He died from cardiac arrest today," a Samsung spokesperson said, adding that Han was survived by his wife and three children.

South Korean auto giant Hyundai on Monday announced a multi-billion-dollar investment in the United States, including a new $5.8 billion steel plant.

Stock markets mostly rose on Monday as worries about fresh US tariffs pencilled in for next week were tempered by hopes that US President Donald Trump was considering a more targeted approach.

Major stock markets extended losses on Friday on heightened concerns over the potential fallout from US President Donald Trump's tariff agenda.

Nvidia boss Jensen Huang expressed confidence Wednesday that the artificial intelligence (AI) chip giant can handle US President Donald Trump's trade war.

European and Asian stock markets traded mixed and gold hit another record high Wednesday as trade war worries cast a shadow and geopolitical concerns returned to the fore.

The Bank of Japan left its key interest rate unchanged Wednesday and warned about the economic outlook amid global uncertainty fuelled by Donald Trump's trade war.

Asian and European equity markets rallied on Tuesday following another positive day on Wall Street stoked by US data that eased recession fears, while Chinese tech firms helped propel another surge in Hong Kong.

Markets rose on Monday as investors welcomed Chinese plans to kickstart consumption in the world's number two economy, though worries about Donald Trump's tariffs war continue to cast a shadow over trading floors.

Taiwanese tech giant Foxconn reported on Friday a lower-than-expected net profit for 2024 as consumer electronic gadgets underperformed, although demand for its artificial intelligence servers remained robust.

German premium carmaker BMW warned Friday of continued challenges in 2025 from trade tensions and weak demand in China after reporting a plunge in profits last year.

The directors of Canadian convenience store giant Alimentation Couche-Tard (ACT) said on Thursday they were seeking a "friendly" buyout of 7-Eleven but lamented a lack of progress towards a deal.

Intel on Wednesday announced tech industry veteran Lip-Bu Tan as its new chief executive, boosting shares of the US computer chipmaker struggling to catch up in the AI race.

Oil executives said Tuesday they are bullish on US petroleum investments in the emerging Trump era as some giants back away from renewable energy and beef up fossil fuel developments.

Asian equities mostly fell Wednesday as investors fret over Donald Trump's ever-changing trade policies amid increasing concern that his tariffs could send the US economy into recession.