Latest Reporting by France 24 — Business
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Xi, Putin hold talks ahead of Shanghai Cooperation Organization summit
Chinese President Xi Jinping and Russia's Vladimir Putin are among the heads of state attending a Shanghai Cooperation Organization summit taking place in Kyrgyzstan. Iran's president Masoud Pezeshkian is also in attendance, where he held bilateral talks with India's Narendra Modi. Marking its 25th anniversary this year, the SCO has strengthened trade ties among its members as the bloc looks to present an alternative to the US-led world order.
The era of the machine: Silicon Valley shows off humanoid robots
For decades, humanoid robots belonged to the realm of science fiction. But today, they're one of Silicon Valley's hottest markets. According to consulting firm McKinsey, automation could transform up to 30 percent of all hours worked across the US economy by 2030. Dozens of companies are already developing robots that can interact with people and even help with everyday tasks. FRANCE 24's Pierrick Leurent and Valérie Defert report, with Wassim Cornet.
Andy Burnham's promise to deliver tangible improvements to Britons' lives put to the test
Former Greater Manchester mayor Andy Burnham is set to become the United Kingdom's new Prime Minister this Monday. He will do so having reiterated a commitment to help raise the standard of living in the country. However, the Labour leader's agenda will be tested by the country's financial situation and his prior commitments, both of which will limit the scope of his plans. In this segment, we'll look at how his policies promise to deliver higher growth in the short and long term.
US imposes a 25 percent tariff on some Brazilian imports, citing unfair trade practices
The United States will slap 25 percent tariffs on some Brazilian goods starting July 22 following a yearlong investigation under the Trade Act of 1974. The probe concluded that Brazil engaged in unfair trade practices. Brazilian President Luiz Inácio Lula da Silva condemned the move, saying it was politically motivated to favour his rival for upcoming elections, Flavio Bolsonaro. Also in this edition, we look at the Japanese firm trying to bring back 1980's style corporate culture.
Chinese growth in second quarter weakest since Covid-19 era
Official data released on Wednesday shows China's GDP grew 4.3 percent in the second quarter, compared to a year prior. The last time quarterly growth was that weak was in late 2022, when China was feeling the impact of the Covid-19 pandemic. Slow consumer demand, despite a surge in exports, helps explain the slowdown. Also in this edition, Gibraltar's business community breathes a sigh of relief as the physical border between the British overseas territory and Spain is removed.
Ukraine strikes halt shipping on key wheat route as Russian fuel crisis deepens
Ukrainian drone strikes have brought shipping in the Sea of Azov to a near standstill, disrupting a corridor that carries up to a quarter of Russia's wheat exports and sending tremors through global grain and oil markets. They have also knocked out a significant share of Russia's refining capacity, prompting Moscow to ban diesel exports until the end of July and further unsettling global oil markets. In Russian-occupied Crimea, petrol prices have reached a record high.
How heatwaves are changing France's real-estate market
Crude oil prices surge as renewed US-Iran strikes fuel market fears. In France, real-estate agents say property buyers are changing priorities as heatwaves become more frequent. And Cuba suffers another nationwide blackout amid the impact of US sanctions.
Nike and Adidas locked in World Cup standoff as tournament heats up
As the World Cup quarterfinals get under way, the race to number one between Nike and Adidas heats up. India and Australia sign a new uranium deal. And, OpenAI rolls out its newest model GPT-5.6 Sol to the general public.
UniCredit closes in on Commerzbank takeover
Italy's second biggest bank, Unicredit, is closing in on a takeover of Germany's second biggest bank Commerzbank after saying it secured 47.6% of the lender's shares on Wednesday. The move is facing widespread opposition in Germany, notably from the federal government, which has a 12% stake in the company. Also, new "freedom fuel" filling stations are appearing across the United States, offering cheaper petrol and receiving strong backing from the White House.
IMF lowers 2026 global growth forecast to 3% but projects rebound in 2027
The IMF has cut its global growth forecast for the second time this year, flagging "uncertainty and risks" brought on by the war in Iran. Spanish Prime Minister Pedro Sanchez responds to threats from Donald Trump that the US will cut off all trade with his country. And, the heatwave is putting France's power system under pressure.
US revokes waiver for Iranian oil sales amid renewed Gulf strikes
The US Treasury Department has announced it will no longer allow Iranian oil sales to be conducted in US dollars on global markets after several tankers were hit by projectiles while attempting to cross the Strait of Hormuz. The move has left more than 60 million barrels of Iranian crude stranded at sea without any clear buyers. Also in this edition, we go inside a Chinese air conditioning factory racing to meet soaring European demand as heatwaves drive up sales.
Undeterred by blasts, Macron says France ready to help rebuild Syria's economy
French President Emmanuel Macron said Tuesday that France is ready to help rebuild Syria's economy and banking sector, as he continued his Damascus visit undeterred by two bomb blasts near the hotel he was staying in.
Samsung Electronics profits surge 1,800% annually amid artificial intelligence spending boom
South Korean chipmaker Samsung Electronics posted record quarterly profits Tuesday thanks to the global AI infrastructure buildout coupled with a memory chip shortage. Also in this edition, oil futures rise as tensions reignite in the Hormuz Strait and Canada commits to its biggest-ever defence contract. Finally, Cuba experiences its third nationwide blackout of the year as its fuel reserves dwindle.
OPEC raises output but cartel's future remains unsure
A handful of OPEC+ countries have agreed to increase their output targets from August, but the cartel is fighting for its survival after the UAE's departure. Also, A French company is using the River Seine to cool down Paris's buildings. Finally, Sky says it's buying ITV's broadcast channels and streaming service for £1.6bn.
Earthquake damage threatens Venezuela's beach tourism centers
The earthquakes that hit Venezuela in late June have devastated seaside towns where tourism has been a vital economic lifeline for an already struggling population. Also, tanker traffic picks up through the Strait of Hormuz, and Europe seeks to convince the US that it's boosting defence spending.
Why Anthropic won't mind Alibaba's Claude ban
Chinese tech giant Alibaba has ordered staff to stop using Anthropic's Claude Code after the US coding tool was found to be flagging users’ connecting from China. But Anthropic is already trying to stop Chinese firms from using Claude at all and accuses Alibaba of running large "distillation" campaigns against it, saying that the Chinese giant created around 25,000 fake accounts to train its own models on the US AI programme.
German reforms, Google's final EU defeat and a $20M Swift wedding?
In today’s edition, FRANCE 24's Charlotte Lam takes a look at Germany’s new tax and pension reforms, Google’s big loss in EU courts and the “Swiftonomics” bonanza that the star’s wedding could bring to New York City.
Andy Burnham outlines his vision for UK economy with promise to raise living standards
Andy Burnham, the former mayor of Greater Manchester, is likely to be the next British prime minister following Keir Starmer's resignation. Central to Burnham's platform is improving living standards that have stagnated or even fallen since the 2008 global financial crisis. But with weak public finances, how realistic is his plan? FRANCE 24's Charles Pellegrin talks to Renaud Foucart, senior lecturer in economics at Lancaster University.
EU top court rejects Google's appeal against record €4.1 billion antitrust fine
The European Court of Justice on Thursday dismissed Google's appeal against a record fine imposed by EU antitrust regulators eight years ago for using its Android operating system to block rivals, in a ruling likely to boost Europe's crackdown on Big Tech.
Why Anthropic's most powerful AI models are back online
Anthropic's Mythos 5 and Fable 5 are back online this Wednesday after the company said it had productive conversations with the US government. Also, Kevin Warsh makes his first public appearance as Federal Reserve chairman. Plus shares of Meta rise after news that the company is building out a new cloud business.
