Bombay Durpun - Economy

EasyJet profits nosedive on Mideast war

British airline EasyJet, the target of a multi-billion-pound takeover battle, said Thursday that profits plunged in the third quarter as the Middle East war sent jet fuel prices soaring.

Nestle siphons off bottled water business into joint venture

Swiss giant Nestle said Thursday that it will create a joint venture for its bottled water business, which includes top-selling brands such as San Pellegrino, Source Perrier and Acqua Panna.

Nokia says AI, cloud boosted sales in second quarter

Finnish telecommunications equipment maker Nokia said that demand for its AI and cloud services drove sales higher in the second quarter, but restructuring charges ate into earnings.

Repsol says profit more than triples on higher oil prices

Spanish energy giant Repsol said Thursday it net profit in the first half of the year more than tripled, boosted by a surge in oil and gas prices due to the Middle East conflict.

Renault says sales stalled in first half

French auto giant Renault said Thursday that global sales stalled in the first six months of the year, held back by weaker Dacia sales in Europe.

TotalEnergies says profit doubled on Mideast war

French oil and gas giant TotalEnergies said Thursday net profit doubled in the second quarter as conflict in the Middle East pushed up hydrocarbon prices.

EasyJet says profits nosedive on Mideast war

British no-frills airline EasyJet said Thursday that its profit tumbled in the third quarter as the Middle East war sent jet fuel prices soaring and dampened customer demand.

ASEAN to call for open straits as US-Iran war casts shadow

Foreign ministers from fuel-stressed Southeast Asia will call for freedom of navigation in international straits when they wrap a week of meetings largely overshadowed by the US-Iran war, according to a draft communique seen by AFP.

AI catches up with humans to score 100% at top maths contest

A perfect result at the world's most prestigious mathematics contest used to be the preserve of a handful of bright young minds each year, but for the first time, artificial intelligence has also scored full marks.

Houthis target Red Sea shipping as US hits Iran

A Saudi vessel was attacked in the Red Sea as Tehran-backed Houthi rebels claimed to strike tankers in the waterway, Riyadh's state media said Thursday, signalling a potential new front in the US-Iran conflict.

Tech bounce lifts Asia stocks, oil extends gains on US-Iran fears

Tech firms enjoyed a much-needed bounce on Thursday as they helped most Asian stock markets higher amid renewed hopes for the AI boom, though oil prices rallied after the US and Iran ratcheted up Middle East tensions.

New Mideast fighting puts eurozone rate-setters on alert

Fresh fighting in the Middle East and rising oil prices have put the European Central Bank on alert ahead of its rate-setting meeting on Thursday.

Tearful fights, edible offerings: A glimpse into the Maradona trial

The fraught and fiery trial of late football legend Diego Maradona's medical team has at times been as turbulent as the life of Number 10 himself.

Tesla shares fall as Musk touts ambitious -- and costly -- plans

Tesla reported weaker-than-expected quarterly profits on Wednesday despite increased auto sales, depressing shares in after-hours trading amid questions over massive capital spending plans.

Google-parent Alphabet beats expectations, cloud revenue nearly doubles

Google's cloud business grew by more than 80 percent, the company said on Wednesday, which exceeded investor expectations who are looking for signs that the company's AI investments are paying off.

US announces civilian nuclear deal with Saudi Arabia

The United States on Wednesday announced a landmark deal with Saudi Arabia that would establish a civilian nuclear program in the Gulf country, with Washington insisting the agreement includes safeguards against non-proliferation.

Tesla shares dip after profit misses expectations

Tesla reported weaker-than-expected quarterly profits on Wednesday, citing a hit from lower vehicle prices despite increased auto sales.

US teen withdraws lawsuit against Meta over social media addiction

A US teenager has withdrawn his lawsuit against Meta, his lawyers announced Wednesday, closing out a closely watched case over social media's harms to children's mental health without a trial.

The Sterling Announces Luxury Cocktail Lounge Concept and Investor Showcase in Orlando

Founder Invites Investors to Experience a New Vision for Luxury Nightlife at Exclusive August 1 Event

White House accuses China's Moonshot of stealing Anthropic AI

A top White House official on Wednesday accused Chinese AI startup Moonshot AI of covertly copying Anthropic's most advanced model to build its Kimi K3.

Samsung launches new, more expensive foldable smartphones

South Korean technology giant Samsung unveiled new, sleeker smartphone models Wednesday priced more than previous models as artificial intelligence raises component costs.

UK fintech Revolut valuation soars to $115 bn: source

British digital bank Revolut, whose growth has exploded in recent years, reached a valuation of $115 billion Wednesday following a secondary share sale, a source close to the deal said Wednesday.

South African tycoon Motsepe rules out presidential bid

South African mining magnate Patrice Motsepe on Wednesday ruled out a future in politics, dismissing speculation that he could one day run for the country's presidency.

Trump threatens Iran bridges, power as payback for Hormuz attacks

US President Donald Trump threatened Wednesday to knock out one Iranian bridge or power plant in return for each attack on shipping in the Strait of Hormuz, warning he was "not finished" with a war that has already cost Washington $37.5 billion.

DonnaPro Introduces AI-Trained Executive Assistants for European CEOs

DonnaPro, the premium executive assistant agency built exclusively for CEOs and founders, has introduced AI-trained executive assistants into the marketplace, bringing a new standard of human-led, AI-amplified support to European business leaders.

Germany's Merz replaces leader ousted over surrogacy row

German Chancellor Friedrich Merz on Wednesday picked his right-hand man to lead the CDU/CSU alliance in parliament after the incumbent was forced out for using a surrogate mother.

Oil prices jump on Mideast war, stock markets diverge

World oil prices soared Wednesday, with the benchmark international contract Brent North Sea crude surpassing $95 for the first time in nearly six weeks as the United States and Iran carried out more strikes.

Metal mining's carbon footprint far larger than thought: study

From building wind turbines to reinforcing power grids for rising demand from electric cars, transitioning from fossil fuels to greener economies will require a massive increase in metal extraction.

TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals

MEXC, a pioneer in 0-fee digital asset trading, increased its market share in Q2 2026 and ranked No. 2 globally in commodity perpetuals market share, according to TokenInsight's newly released Q2 2026 Crypto Exchange Report. The report provides a comprehensive review of trading volume, open interest, and TradFi perpetuals markets across major global crypto exchanges.

Leonardo chief sees potential for Germany to join GCAP fighter jet project

The head of Italian defence giant Leonardo told AFP it would be "beneficial" for Germany to join an initiative led by Britain, Italy and Japan to develop a next-generation fighter jet, after its rival project with France collapsed.

Oil prices surge on Mideast war, stock markets diverge