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Maersk increases profit forecast on global container volume growth
Shipping group A.P. Moller-Maersk raised its core profit forecast for the full year on Thursday, helped by an increase in container volumes, driven by shipments mainly from China. This was despite lower freight costs. Maersk is widely considered a bellwether of global trade. It now expects container volumes to increase by 4% in this year. This is up from the previous forecast range, which was 2% to 4 %, issued in August. In the third quarter 2025, the global container demand will grow between 3% to 5% on an annual basis, despite disruptions, the company stated in a press release. Exports from Far East Asia and China continue to be the primary driver of volume growth. The company reported that imports from Europe, Africa and Latin America were strong, but container volumes to North America decreased, especially in shipments to the United States from China. The company now expects to earn underlying earnings before tax, depreciation, and amortization (EBITDA) between $9 billion and 9.5 billion this year, compared with its previous guidance, which was $8 billion to 9.5 billion. Maersk reported that EBITDA dropped 44% on an annual basis in the third quarter, to $2.69 Billion. This was above the $2.58 Billion expected by analysts in the poll conducted by the company. Analysts had predicted $13.8 billion, but revenue fell 10% to $14.2 billion. The company has also stated that the disruptions at the Red Sea will continue throughout the entire year. Maersk had previously said it would resume transit in the region only when a viable and long-term security solution was established.
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Air France-KLM announces third-quarter sales despite rising costs
Air France-KLM announced third-quarter results that were in line with expectations on Thursday. It also confirmed its outlook for 2025, despite some expenses increases and expensive challenges faced by its Dutch subsidiary KLM. As the summer travel season is lucrative and busy, the third quarter of the year is typically the most profitable for European airlines. Travel from Europe to the United States is down under U.S. president Donald Trump. His policies are seen by many as anti-foreigner, anti-trade and anti-foreigner. Analysts polled by LSEG had predicted an operating profit of 1,27 billion euros (1,48 billion dollars) for the airline group. This was a significant increase from the 732 million euro operating profit the group had for the same period last year, when it took a large hit due to the Paris Olympics. Air France-KLM has once again shown its resilience during the third quarter in a difficult environment. Ben Smith, Chief Executive of Air France-KLM, said in a press release that the company had maintained a solid revenue growth with a stable margin. Air France-KLM’s operating margin in Q3 was 13.1%. This is a slight decrease from the same period last year. CAPACITY GROWTH MIDDLE BOOKING CHALLENGES The group stated that capacity is expected to grow between 4 and 5% in 2025 compared to the previous year, despite the ongoing challenges, as well as the somewhat sluggish bookings for Transavia's budget airline this summer. This was attributed to higher airport taxes in Amsterdam at Schiphol Airport, which resulted in higher ticket prices. The group saw a reduction in fuel costs, and a steady flow of bookings for its premium cabins. However, it continued to face pressure in the economy cabin, when traveling to the United States. KLM was particularly affected by the lower yields of its economy cabin as well as expensive labour disputes in September. Air France-KLM's debt increased slightly compared to the previous year due to costs associated with maintenance and other services.
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Western France attacker suspected of 'self-radicalisation', minister says
The driver who rammed his car into a crowd in western France on Wednesday is suspected of "self-radicalisation" and had "explicit religious references" at home, the country's Interior Minister Laurent Nunez said on Thursday. Nunez stated that "based on the number of factors present with this individual and his actual shouting 'Allahu akbar' there are clear religious references that exist in his case". He said that it was not clear, at this point, if religious motives were behind the attack on Oleron Island off France's Atlantic Coast. Five people were injured. Nunez stated that the National Terrorism Prosecutor's Office will determine through a psychiatric assessment, which was conducted yesterday following two searches and an examination of phone records, if these elements were responsible for the violent actions we witnessed. He said that two of the victims are still in an "absolute medical emergency". Reporting by Inti landauro and Dominique Vidalon, edited by Alessandro Parodi
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Air France-KLM's third-quarter results are in line with expectations
Air France-KLM announced third-quarter results that were in line with expectations on Thursday. It also confirmed its outlook for 2025, despite some expenses increases and expensive challenges faced by its Dutch subsidiary KLM. As the summer travel season is lucrative and busy, the third quarter of the year is typically the most profitable for European airlines. Travel from Europe to the United States is down under U.S. president Donald Trump. His policies are seen by many as anti-foreigner, anti-trade and anti-trade. Analysts polled by LSEG had predicted an operating profit of 1,27 billion euros (1,48 billion dollars) for the airline group. This was a significant increase over the operating profit of 732 millions euros for the same period last year, when the group suffered a substantial loss due to the Paris Olympics. Air France-KLM has once again shown its resilience during the third quarter in a difficult environment. Ben Smith, Chief Executive of Air France-KLM, said in a press release that the company had maintained a solid revenue growth with a stable margin. When it came to traveling to the United States, the group saw a continued pressure on its economy cabin yields. KLM was particularly affected by the lower yields of its economy cabin as well as expensive labour disputes in September. Air France-KLM's debt increased slightly due to costs associated with maintenance and other services.
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Volvo Cars targets an operating profit margin of more than 8% with a new strategy
Volvo Cars announced on Thursday it was aiming for a long-term profit margin of more than 8% as part of a new strategy. It also said that its collaboration with Geely, the majority owner, would be intensified to reduce costs and create a positive cash flow. Last year, the Swedish automaker scrapped its goal of being all-electric by 2030. It said it would still offer some hybrids in its lineup due to a decline in demand for electric vehicles. It brought back the former CEO Hakan Samsson in early 2025 for a two year term to help revive an all-time low share price. They launched a cost-saving plan and cut 3,000 white collar jobs. The company stated that this included pulling forward the then-outlook of the group, such as delivering an operating profit margin core of 7-8% by 2026 and generating strong free cash flow. Volvo Cars announced on Thursday that it hopes to reduce variable costs through a closer relationship with Geely, an Chinese conglomerate. It also expects to lower indirect costs using the same software for a variety of models including hybrids. Volvo Cars released a statement saying that the company was finalising major investment in new technology and infrastructure. This will allow it to lower investments to a level which is affordable.
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Emirates Group's profit for the first half of 2018 increases 13% due to strong travel demand
Emirates Group announced on Thursday that its net profit grew by 13% to $2.9 billion for the six-month period ending September. The company cited a strong and consistent travel demand in all regions, which boosted their airline's business. The Gulf carrier is continuing to recover from the pandemic and consolidating Dubai's status as a global hub for aviation. In a press release, Chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum stated that "global demand for air travel and travel services have been buoyant despite geopolitical events in some markets and economic concerns." Emirates Group plans to increase capacity with the delivery of Airbus A350 aircraft. The company also said that new facilities at its subsidiary dnata (ground-handling) will contribute to growth. Emirates airline's revenue increased 6% from $17.9billion last year to five A350 aircraft delivered in six months. 23 Airbus and Boeing aircraft were also brought online through the retrofit program.
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Trump's trade battle with China in 2025
U.S. president Donald Trump has targeted China as his top economic rival with a cascade on tariffs that are worth billions of dollar. He is trying to reduce a trade surplus, bring back lost manufacturing and cripple fentanyl traffic. In reverse chronological order, here are the key events of this year in U.S.-China Trade War: November 5 - Beijing suspends all retaliatory duties on U.S. goods imports until November 10, including farm products at up to 15%. However, it keeps 10% levies as a countermeasure to Trump's "Liberation Day tariffs". China is easing measures against U.S. companies and reducing tariffs on imports of U.S. fibre optics. After talks between Trump and Chinese president Xi Jinping in South Korea, the United States and China reach a new trade truce on October 30. Trump agrees with Beijing to crack down on the illicit fentanyl market, resume U.S. soya bean purchases, and pause controls on rare earth exports. Beijing claims that the United States has also promised to delay by a year its plan to ban Chinese firms from using their technology. The two leaders will decide the framework of a trade agreement after Scott Bessent, Treasury Secretary and Jamieson Greer met with He Lifeng, Vice Premier and chief trade negotiator in China. The U.S. State Department describes Chinese sanctions against South Korean shipbuilder Hanwha Ocean as "coercion" and says that this undermines the relationship between Washington, Seoul and Washington. Greer and Bessent criticize China's increased rare earth export controls, citing them as a threat to global supply chain. Bessent pledges to tighten control over strategic sectors in order to counter China. Apple CEO Tim Cook pledges China investment boost. On October 14, both nations start collecting port fees on each other's vessels. China, however, exempts the ships that it has built. Five Hanwha Ocean units with ties to the United States are sanctioned as a threat to its sovereignty and security. Bessent confirms that plans for the Trump-Xi meeting are still on track. Trump announces new levies on China imports, including 100% additional duties. He also introduces export controls for "any and all software critical" starting November 1. In response to China's restrictions on rare earth exports, Trump threatens to impose export controls on Boeing parts. Trump does not cancel his plans to meet Xi but says that there is no need for him to do so. China opens antitrust investigation against U.S. Qualcomm for the purchase of Israeli chip designer Autotalks. China will start charging port fees to vessels linked to the U.S. as of October 14 in response for similar fees charged by the U.S. on China-linked vessels. China tightens its grip on the critical minerals and expands its export controls to include five additional medium-heavy elements. The United States intends to ban Chinese Airlines from flying over Russia in U.S. routes. This would be detrimental to U.S. carriers. Trump declares that the major topic of discussion at the Xi-Meet will be soybeans. He calls China's sharply decreased U.S. purchases as a tactic in negotiations. Greer, September 30: Tariffs of around 55% on Chinese imports is a "good status quo", but the United States wants to see more free trade. Bessent: Chemicals, aircraft engines and components offer U.S. key leverage in China negotiations. Visitor U.S. legislators tell Premier Li Qiang to increase engagement between China and the United States. Trump and Xi have a telephone conversation on September 19, during which Trump claims they made progress in a TikTok pact, and that they agreed to meet face to face to discuss illicit drugs, trade and the Ukraine war. China welcomes TikTok commercial talks. China announces that it will examine TikTok’s intellectual property and technology licensing. September 15 – Both sides reach agreement on a framework to transfer TikTok under U.S. control. The U.S. has pledged to refrain from imposing more tariffs against Chinese products over Russian oil imports, unless European levies are first imposed. September 14th - Bessent, China's He, and Bessent, Spain, discuss the trade and TikTok divestiture by September 17th. Both nations extend the tariff truce by 90 days on August 11. August 10 - As the trade truce expires on August 12, Trump urges China quadruple U.S. soya purchases. As part of the talks on rare Earths, the United States lifts its April ban and starts issuing Nvidia licenses for exports to China of advanced AI H20 chip technology. The U.S. government and Chinese officials agreed to extend the 90-day truce on tariffs after two days in Stockholm that they called constructive but did not bring any major breakthroughs. Bessent: Both sides have resolved issues regarding rare earth minerals and magnetics bound for the United States. June 9-12: Framework agreement reached at London round of negotiations, and some Chinese rare earths producers start to receive export licenses. Trump claims that a trade truce has been re-established. Xi and Trump have a phone call lasting an hour on June 5. Trump claims that China has violated the Geneva agreement to roll back tariffs in both directions and ease restrictions on exports of critical minerals. China denies this accusation, instead accusing America of discriminatory restrictive curbs. 28-29 May - The United States announces that it will begin "aggressively," revoking the visas of Chinese student, and ordering certain companies to stop shipping goods to China. May 10-12: First round of trade negotiations in Geneva agrees on 90-day pause for tariffs. U.S. tariffs are reduced to 30% from 145% on Chinese goods, while China reduces tariffs to 10%. China will also cancel non-tariffs measures taken since April 2. Nvidia, a chipmaker, says U.S. officials informed it that China sales of H20 chips would require an export license. China raises its tariffs on U.S. goods to 125%, calling Trump's strategy a "joke". It also signals that it will ignore further U.S. "numbers games with tariffs". China threatens to immediately curb imports of Hollywood movies on April 10. China imposes controls on exports of dual use items to 12 U.S. firms and designates another six as "unreliable" entities. The United States has increased tariffs on Chinese imports from 84% to 125%. China warns its citizens to avoid U.S. travel. Tariffs on Chinese imports are raised to 84% from 34% by the United States on April 8. April 4: China imposes retaliatory duties of 34% on all U.S. imports starting April 10, and limits exports for some rare earths. Trump announces "Liberation Day", a new set of tariffs that will apply to all imports. Some countries may face even higher rates, while China could be hit with 34%. From May 2, the United States will no longer allow low-value shipments of goods from China and Hong Kong to be duty-free. China retaliates with levies between 10% and 15% on U.S. agricultural exports. It also imposes export and investment restrictions on 25 U.S. companies, as well a ban on medical equipment maker Illumina. March 4 - United States increases tariffs on Chinese imports by 20%, based on fentanyl. China responds to the U.S. business with measures that include 15% tariffs on U.S. LNG and coal, and 10% levies for crude oil. The ban on exports applies to five key metals for defence and clean energy. Trump imposes a 10% penalty duty on China's goods, along with a 25% tax on Mexico and Canada to pressure the United States into curbing fentanyl imports and illegal immigration.
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Wall Street Journal, November 6,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. - Due to the U.S. Government shutdown, the Federal Aviation Administration has ordered a 10% reduction of airline traffic in 40 major airports. The UK's Intermediate Capital Group has advanced discussions to sell Singapore’s PSB Academy for almost $382.5million to Sun Venture. Cathay Pacific is buying back Qatar Airways' 9.5% stake for $6.97 billion Hong Kong Dollars ($896.5 Million). Pfizer will sweeten their offer for Metsera again, the weight loss drug startup that is at the heart of a bidding battle with Novo Nordisk. Snap's share price rose by 25% after the announcement of a deal that will integrate Perplexity AI into Snapchat Chat's interface by early 2026. CoreWeave CEO Michael Intrator dismissed fears about an AI infrastructure boom, citing the potential for economic acceleration.
DHL exceeds Q3 profit expectations thanks to pricing and cost control
DHL, the German logistics giant, reported on Thursday a higher-than-expected third quarter operating profit. Price adjustments and structural cost reductions helped DHL cope with an unstable economic environment. It reported quarterly earnings of 1.5 billion euro ($1.8 billion), exceeding analysts' expectations of 1.28 billion euro in a company provided consensus.
DHL, the company that delivers worldwide packages and runs German postal services via Deutsche Post, has confirmed its financial forecasts for 2025, but stated the subdued macroeconomic climate would continue to impact the results.
DHL stated that the guidance did not take into account any further possible escalation of tariffs or trade policy. The new import regulations, which have been in effect since August, for low-value shipments to the U.S. had had a minimal impact on earnings so far.
The quarter's revenue fell 2.3%, to 20.1 billion Euros, in line with the market expectation, due to currency exchange rates and lower volume on routes to America. European logistics and shipping firms are facing a difficult economic climate marked by declining freight rates, weaker demands and a number of trade disruptions. This includes a raft tariffs imposed on U.S. President Donald Trump. As a result of these pressures, many companies have taken cost-cutting steps, such as job cuts, and revised financial forecasts in order to reflect the more difficult operating conditions.
(source: Reuters)