Author: Grace Johnson

Shares of Chinese electric vehicle maker BYD fell by up to 8% on Monday. The decline followed weaker profit results, hit by fierce discounting in a competitive auto industry. Net profit falls sharply On Friday, BYD announced net profit of 6.4bn yuan ($900m; £660m) for April to June. That was 30% lower than the same quarter last year. The company admitted that intensified price competition had put pressure on the whole EV market. Rivals slash prices to lure buyers The Shenzhen-based automaker competes against Nio, XPeng, and Tesla, all of which have cut prices aggressively. BYD shares opened weaker in…

Beer drinking in Germany is falling, while alcohol-free options are booming. The federal statistics office reports sales of alcohol-free beer have grown by 109 percent since 2013. Meanwhile, overall beer sales have reached their lowest level in over 30 years. For the first time, total sales dropped below four billion liters in a six-month period. Between January and June 2025, breweries sold around 3.9 billion liters. That marks a decline of 6.3 percent, or 262 million liters, compared with the same period last year. brewers adjust to younger audiences The Erdinger brewery near Munich has been producing beer since the…

A US appeals court has ruled that most tariffs introduced by Donald Trump were unlawful. The decision deals a serious blow to his trade policies and sets the stage for a showdown at the Supreme Court. The judgement cancels Trump’s “reciprocal” tariffs against dozens of countries. It also blocks levies on China, Mexico and Canada. Judges underline Congress holds tariff powers In a 7-4 decision, 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 stressed that the authority to…

The United States has ended a tariff exemption that long allowed cheap goods to enter without duties. From Friday, parcels worth $800 or less face new customs checks and tariff charges. The rule change will affect millions of shipments daily. In 2023, about 1.4 billion packages valued at over $64bn entered under this exemption, official data shows. Experts warn prices will climb, choices will shrink, and small businesses will struggle to adapt. Buenos Aires shoe brand owner Katherine Theobalds fears her firm could collapse. “It might be the end for us,” she said. The origins of the de minimis rule…

Nvidia has achieved record-breaking results on the back of rising global demand for artificial intelligence, though political disputes continue to weigh on its future. On Wednesday, the California-based chipmaker announced $46.7bn (£34.6bn) in second-quarter revenue, up 56% compared with the same period last year. Despite the surge, shares slipped in after-hours trading after the company admitted it was still “working through geopolitical issues”. Nvidia remains at the centre of the trade conflict between Washington and Beijing. Shifting policies under the Trump administration, designed to safeguard America’s lead in artificial intelligence, add more uncertainty to its prospects. Tech giants drive AI…

South Korea has passed a law banning smartphones and other smart devices during school hours. The country joins a global trend restricting phone use to protect students’ education and wellbeing. The law will take effect in March 2026. Lawmakers from both ruling and opposition parties backed it. They argue it is needed to tackle smartphone addiction, which research increasingly links to negative effects. Parents and lawmakers push for limits Supporters say phones disrupt lessons and harm academic performance. Children spend too much time scrolling instead of studying or socialising. Parents worry devices prevent their children from forming friendships or engaging…

US President Donald Trump has declared his intention to immediately remove Federal Reserve governor Lisa Cook. The move marks an unprecedented escalation in his confrontation with the central bank. Trump claimed there was “sufficient reason” to accuse Cook of submitting false information in mortgage agreements. He argued that constitutional powers grant him authority to dismiss her. Cook firmly rejected the attempt, saying the president had no power to fire her. She insisted she would not resign. No president has previously tried to dismiss a Federal Reserve governor. Trump’s decision follows months of pressure on the bank and its chair Jerome…

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 sharply criticized President Donald Trump’s plan to deploy troops to Chicago. He said the move is an abuse of power. Pritzker insisted no emergency justifies such action in Illinois. He accused Trump of manufacturing a crisis for political effect. Trump has already stationed about 2,000 troops in Washington DC. The city’s Democratic leadership strongly opposes the measure. Trump frames the deployment as part of a crime crackdown in American cities. On Friday, he announced Chicago and New York could soon face the same plan. Chicago mayor calls plan reckless Chicago Mayor Brandon Johnson said he had…

US Secretary of Commerce Howard Lutnick announced on Friday that Washington will take a 10% ownership share 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 unveiled the deal earlier in the Oval Office. He described it as “a great deal for them.” Shares of the Santa Clara-based chipmaker jumped more than 5% on Friday. Intel confirmed that the US government will inject $8.9bn (£6.6bn) into its common stock. Funding shift…