Caroline Hepker

The earnings also come after it emerged that the activist hedge fund, Elliott Investment Management, had taken a significant stake in the firm.

The increased buyback, though, falls short of the £5 billion programme that Bloomberg News reported Elliott was pushing for earlier this month.

The carmaker Stellantis has swung to a loss in the second half of last year after it scaled back an electric vehicle push.

The company behind brands like Chrysler, Citroën and Peugeot reported an adjusted loss of just under €1.4 billion for the six months.

That's after write-downs of over €25 billion last year linked to bets on EVs that were destined to be unprofitable.

Stellantis has been slashing prices and volumes improved, led by North America, deliveries gaining 39% to 825,000 vehicles.

Shares for Stellantis are down by more than 30% so far this year.

Now, the EU sees the latest US tariffs hitting 4.2 billion euros in exports with levies above what was agreed in the trade deal with the White House.

Bloomberg understands that the bloc sees chemicals and agricultural products as a key area of concern.

US Trade Representative Jameson Greer told Bloomberg America will meet its side of the trade deal.

Greer added that President Trump will sign a directive in the coming days raising his new global tariff to 15%.

The International Monetary Fund says that the tariff uncertainty risks undercutting an otherwise buoyant US economy.

That's news when you want it with Bloomberg News Now.

I'm Caroline Hepke.

News when you want it with Bloomberg News Now.

I'm Caroline Hepker.

Investors have been left unimpressed by the latest blowout earnings forecast from Nvidia.

The dominant maker of AI chips says that its revenue in the current quarter will be about $78 billion, well ahead of the almost $73 billion that analysts had expected.

However, that wasn't enough to excite markets with shares little changed in post-market trading.

Daniel Newman is CEO of technology research firm the Futurum Group.