Author: Grace Johnson

Shares of Chinese electric vehicle maker BYD fell by as much as 8% on Monday. The decline followed weaker profits, squeezed by a brutal price war in the domestic market. Quarterly profits under pressure On Friday, BYD announced net profit of 6.4bn yuan ($900m; £660m) for April to June. That figure was down 30% compared with the same period last year. The company admitted that intensified price competition across the EV sector has hurt performance. Rivals deepen the struggle The Shenzhen-based carmaker competes with local challengers Nio and XPeng, alongside Tesla from the US. All have slashed prices to secure…

Beer consumption in Germany is declining, while alcohol-free options are surging. The federal statistics office reports that sales of alcohol-free beer have risen by 109 percent since 2013. Meanwhile, overall beer sales are at their lowest level in more than 30 years. For the first time, total 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 represents a decrease of 6.3 percent, or 262 million liters, compared with the same period in 2024. breweries target younger consumers The Erdinger brewery near Munich has been producing beer…

A US appeals court has ruled that most tariffs imposed by Donald Trump are illegal. The decision delivers a significant setback to his trade agenda and sets up a likely Supreme Court battle. The ruling cancels Trump’s “reciprocal” tariffs on dozens of countries. It also overturns levies applied to China, Mexico and Canada. Court rules Congress holds tariff authority In a 7-4 decision, the US Court of Appeals for the Federal Circuit declared Trump’s tariffs “invalid as contrary to law”. Judges rejected his argument that the International Emergency Economic Powers Act gave him authority. They emphasized that only Congress has…

The United States has scrapped its long-standing tariff exemption for low-cost imports, a move set to reshape shopping. From Friday, parcels valued at $800 or less will no longer be duty-free and must clear stricter customs checks. Millions of shipments will be affected each day. In 2023, more than 1.4 billion packages worth over $64bn entered America under this exemption, customs figures show. Experts warn prices will rise, options will shrink, and small businesses may struggle to survive. Buenos Aires shoemaker Katherine Theobalds fears for her brand Zou Xou. “It might be the end for us,” she said. The story…

Nvidia continues to smash records as artificial intelligence reshapes the tech industry, though international disputes cast a shadow over its future. On Wednesday, the Santa Clara-based chipmaker reported $46.7bn (£34.6bn) in revenue for the second quarter, a 56% increase from the same period in 2024. Despite the strong earnings, shares slipped in after-hours trading after executives admitted the company was still “working through geopolitical issues”. Nvidia remains caught in the escalating trade battle between Washington and Beijing. Frequent policy shifts from the Trump administration, aimed at keeping the US ahead in artificial intelligence, create further uncertainty for the company. Rising…

South Korea has passed a law banning smartphones and other smart devices during school hours. The country joins a growing list of nations limiting phone use to protect students’ learning and wellbeing. The law will take effect in March 2026. Lawmakers from both ruling and opposition parties supported the measure. They say it is necessary to curb smartphone addiction, which research increasingly links to harmful effects. Parents and lawmakers push for action Supporters argue phones disrupt lessons and harm academic performance. Children spend too much time scrolling instead of studying or socialising. Parents worry devices stop their children from building…

US President Donald Trump has announced plans to dismiss Federal Reserve governor Lisa Cook immediately. The decision marks a dramatic escalation in his clash with the central bank. Trump alleged Cook made false claims on mortgage documents and insisted the constitution gives him authority to remove her. Cook swiftly rejected the claim, stressing that the president lacks such power. She declared she would not resign. No American president has ever attempted to fire a Federal Reserve governor. Trump’s action comes after months of criticism of the Fed and its chair Jerome Powell, whom he blames for not cutting rates fast…

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 strongly rejected President Donald Trump’s plan to deploy troops to Chicago. He called the move an abuse of power. Pritzker argued no emergency justifies the National Guard entering Illinois. He accused Trump of fabricating a crisis to justify federal intervention. Trump has already sent about 2,000 troops to Washington DC. The capital’s Democratic leadership opposes the measure. Trump portrays the deployment as part of a wider fight against crime in American cities. On Friday, he said Chicago and New York could face the same approach. Chicago mayor warns of dangerous fallout Chicago Mayor Brandon Johnson said…

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