AFP
13876 articles published since 08 Mar 2022
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Record loss for Russia's Gazprom as European market closed
Russian energy giant Gazprom said Thursday it suffered a record annual loss last year as the European market was practically shut to its gas exports due to sanctions over Moscow's military operation in Ukraine. Exports to Europe have long been Gazprom's top earnings source, but following the start of the conflict in Ukraine European nations sought to reduce their reliance upon Russian natural gas.
US clears ExxonMobil deal, bars Pioneer ex-chief from board
US antitrust authorities cleared ExxonMobil's acquisition of Pioneer Natural Resources under the condition that the shale producer's former CEO be barred from the company's board, regulators announced Thursday. In October, ExxonMobil announced the acquisition of the fellow Texas-based Pioneer for about $60 billion in a big bet on the Permian Basin, a key US shale region.
TikTok reaches music licensing deal with Universal, ending feud
TikTok and Universal announced a new licensing agreement Thursday, ending a months-long dispute that saw popular music expunged from the social media platform. Millions of videos involving Universal artists became muted on the platform.
US trade gap wider than anticipated in March
The US trade deficit was wider than analysts anticipated in March -- hovering close to the biggest in nearly a year -- with exports and imports both declining, according to government data published Thursday. For March, exports and imports were both lower.
Shell logs 'strong' quarter as earnings fall but top expectations
British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a "strong" performance, and unveiled another bumper stock buyback. Shell had already warned last month that it expected lower natural gas sales in the first quarter after a particularly strong performance in the final three months of 2023.
Maersk's net profit sinks amid Red Sea attacks
Danish shipping giant Maersk posted a huge drop in net profit for the first quarter on Thursday as Yemeni rebel attacks force it to avoid the vital Red Sea route.
OECD lifts 2024 growth forecasts, driven by US
The OECD raised its global economic growth forecast for 2024 on Thursday, driven by strong performances in the United States and emerging countries while Europe lags behind. Central banks worldwide raised interest rates in efforts to combat inflation, which rose after countries emerged from Covid lockdowns and soared further following Russia's assault on Ukraine in 2022.
Wind energy giant Vestas swings to loss, sees geopolitical headwinds
Vestas, the world's number one wind turbine maker, said Thursday it swung to a 75-million-euro ($80-million) loss in the first quarter and warned "geopolitical volatility" would continue to cause uncertainty. "In 2024, continued geopolitical volatility is expected to cause uncertainty.
Weight-loss drug maker Novo Nordisk's profits soar further
Danish pharmaceutical giant Novo Nordisk reported more soaring profits on Thursday thanks to the popularity of anti-diabetes and weight-loss drugs Ozempic and Wegovy, which have made it Europe's most valuable company. Novo Nordisk produces Ozempic, an injectable anti-diabetic treatment which has become popular on social networks for its reported slimming properties.
AFP
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