BUSINESS

CARREFOUR SELLS LOSS-MAKING ITALIAN UNIT TO NEWPRINCES

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Carrefour, Europe's largest food retailer, has taken a bold step in its ongoing strategic overhaul by agreeing to sell its loss-making Italian operations to food and beverage manufacturer NewPrinces Group. The deal, which values Carrefour Italy at roughly 1.09 billion US dollars, is expected to close by the end of the third quarter, pending regulatory approval.

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APPLE ESCAPES €50M DAILY PENALTY AFTER DMA COMPLIANCE MOVE

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Apple has avoided a potential financial blow in Europe by adjusting its App Store policies to comply with EU regulations. The European Commission is expected to approve the changes, which come after a €500 million fine was issued earlier this year for violating the Digital Markets Act (DMA).

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NESTLÉ PROFIT FALLS AMID WEAK CHINA SALES

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Nestlé has reported a 10.3% drop in net profit for the first half of the year, falling to 5.1 billion Swiss francs ($6.4 billion), as the company struggles to boost sales amid sluggish consumer spending in China. The Swiss food giant, whose brands include Nespresso, KitKat, Purina, and Maggi, is working to turn around its fortunes.

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GM POSTS $1.1B LOSS FROM TARIFFS, SHIFTS FOCUS TO DOMESTIC MARKET

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General Motors' second-quarter earnings for 2025 revealed a mixed picture: solid vehicle sales in the U.S. but a sharp earnings decline tied to tariffs. The automaker absorbed a $1.1 billion hit from new trade measures, mostly tied to imports from Mexico and South Korea—pushing its quarterly net income down 35%.

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COCA-COLA PROFITS RISE DESPITE FALLING VOLUMES

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Coca-Cola has once again demonstrated its resilience in a volatile consumer market, reporting stronger-than-expected earnings for the latest quarter, even as product volumes slipped in several key regions. The beverage giant posted earnings of 87 cents per share, beating analyst forecasts of 83 cents, largely driven by a 6% rise in prices. This pricing strategy successfully counteracted a 1% drop in global volumes, a decline that follows two quarters of growth. Particularly notable were falling numbers in markets such as Mexico, India, and the United States.

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UNIVERSAL MUSIC GROUP FILES TO SELL SHARES IN US

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Universal Music Group (UMG) has filed to sell its shares in the US market, adding to its existing listing in the Netherlands. The company, which is home to mega stars such as Taylor Swift, Drake, and Lady Gaga, has a stock market valuation in the Netherlands of nearly €50 billion ($58.5 billion).

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DEEP EARTH DRILLING TAPS CLEAN ENERGY POTENTIAL

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In the sun-scorched Utah desert, what looks like an oil drilling rig is in fact the vanguard of clean energy's next frontier. Fervo Energy, a Houston-based startup, is spearheading a cutting-edge geothermal project that could revolutionize the global power grid. Using the same high-tech drilling techniques once reserved for fossil fuel extraction, Fervo is diving miles into the Earth—not for oil, but for sustainable heat.

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STELLANTIS REPORTS €300M LOSS DUE TO US TARIFFS

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Stellantis, the parent company of brands such as Vauxhall, Jeep, and Fiat, has revealed that it has already incurred a €300 million ($349.2 million) cost as a result of US President Donald Trump's tariffs. The company attributed the financial hit to the tariffs impacting trade and the subsequent reduction in planned production. The 25% tariff on cars being imported to the US has been in place since April.

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