DUBAI: Saudi Arabian state oil group Aramco on Tuesday reported a 44.6 percent drop in third-quarter net profit, in line with analysts’ estimates, dented by lower crude oil prices and volumes sold as the coronavirus crisis choked demand.
Weaker refining and chemicals margins have also hit the company’s net profit, which fell to $11.79 billion for the quarter ended Sept. 30 from $21.29 billion riyals last year.
Analysts had expected a net profit of $11.89 billion in the third quarter, according to the mean estimate from three analysts, provided by Refinitiv.
“We saw early signs of a recovery in the third quarter due to improved economic activity, despite the headwinds facing global energy markets,” Saudi Aramco Chief Executive Officer Amin Nasser said in a statement.
The company said it would distribute a dividend of $18.75 billion for the third quarter of this year, in line with its plan to pay a base dividend of $75 billion for 2020.
Saudi Aramco Q3 profit slumps 44.6% as coronavirus pandemic chokes demand
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Saudi Aramco Q3 profit slumps 44.6% as coronavirus pandemic chokes demand
- Weaker refining and chemicals margins have also hit the company’s net profit
- Company said it would distribute a dividend of $18.75 billion for the third quarter of this year
Dominant France thrash Wales 4-1 at Euro 2025 to go top of group
- After that the Welsh wilted as the French dominated, with Grace Geyoro scoring their fourth in the 63rd minute, steering home a ball from the right following an extended period of possession to crown a convincing win
ST. GALLEN, Switzerland: France produced a dominant display to thrash Wales 4-1 and go top of Group D at Euro 2025 on Wednesday, outclassing their opponents who scored their first goal at a major championship.
After England beat the Netherlands 4-0 earlier in the day, France went top of the group on six points, followed by the English and the Dutch on three points each.
Wales, who face England in their final group game on Sunday, have yet to register a point but still have a mathematical chance of going through to the knockouts. France face the Netherlands in their last group game.
Clara Mateo was at the center of much of France’s attacking play and lashed them into an early lead, controlling a flick-on from a corner on her chest and firing a volley into the net in the eighth minute.
The moment thousands of Wales fans had been waiting for came five minutes later when Ceri Holland broke down the left and though her first attempt to find Jess Fishlock was blocked, she managed to steer the ball to the 38-year-old, who poked home Wales’ maiden goal at the women’s European Championship finals.
That was as good as it got for Wales, who looked set to go into the break level only for Holland to chop down Mateo in the box and Kadidiatou Diani’s spot kick crept over the line after striking the foot of keeper Safia Middleton-Patel.
Middleton-Patel was at fault just after the break as she lost control of the ball in the box, allowing Mateo to tee up Amel Majri, who thumped it into the net.
After that the Welsh wilted as the French dominated, with Grace Geyoro scoring their fourth in the 63rd minute, steering home a ball from the right following an extended period of possession to crown a convincing win.
“We’ve got six points after two matches and that’s what we need to remember. It won’t be an easy (next) game because the Netherlands will have no choice but to attack and score goals,” France coach Laurent Bonadei said.
Mateo was impressed with how her side bounced back from Fishlock’s equalising goal and how they went on to dominate.
“We had a bit of a scare at the start of the game but we had confidence in ourselves. It was a great evening, there are different strikers and that’s important for everyone’s confidence,” she said.
X CEO Linda Yaccarino resigns after two years at the helm of Elon Musk’s social media platform
- Yaccarino announced her resignation in a post, saying “the best is yet to come as X enters a new chapter”
- Elon Musk hired Yaccarino, a veteran ad executive, in May 2023 after buying Twitter for $44 billion
X CEO Linda Yaccarino said she’s stepping down after two bumpy years running Elon Musk’s social media platform.
Yaccarino posted a positive message Wednesday about her tenure at the company formerly known as Twitter and said “the best is yet to come as X enters a new chapter with” Musk’s artificial intelligence company xAI, maker of the chatbot Grok. She did not say why she is leaving.
Musk responded to Yaccarino’s announcement with his own 5-word statement on X: “Thank you for your contributions.”
“The only thing that’s surprising about Linda Yaccarino’s resignation is that it didn’t come sooner,” said Forrester research director Mike Proulx. “It was clear from the start that she was being set up to fail by a limited scope as the company’s chief executive.”
In reality, Proulx added, Musk “is and always has been at the helm of X. And that made Linda X’s CEO in title only, which is a very tough position to be in, especially for someone of Linda’s talents.”
Musk hired Yaccarino, a veteran ad executive, in May 2023 after buying Twitter for $44 billion in late 2022 and cutting most of its staff. He said at the time that Yaccarino’s role would be focused mainly on running the company’s business operations, leaving him to focus on product design and new technology. Before announcing her hiring, Musk said whoever took over as the company’s CEO ” must like pain a lot.”
In accepting the job, Yaccarino was taking on the challenge of getting big brands back to advertising on the social media platform after months of upheaval following Musk’s takeover. She also had to work in a supporting role to Musk’s outsized persona on and off of X as he loosened content moderation rules in the name of free speech and restored accounts previously banned by the social media platform.
“Being the CEO of X was always going to be a tough job, and Yaccarino lasted in the role longer than many expected. Faced with a mercurial owner who never fully stepped away from the helm and continued to use the platform as his personal megaphone, Yaccarino had to try to run the business while also regularly putting out fires,” said Emarketer analyst Jasmine Enberg.
Yaccarino’s future at X became unclear earlier this year after Musk merged the social media platform with his artificial intelligence company, xAI. And the advertising issues have not subsided. Since Musk’s takeover, a number of companies had pulled back on ad spending — the platform’s chief source of revenue — over concerns that Musk’s thinning of content restrictions was enabling hateful and toxic speech to flourish.
Most recently, an update to Grok led to a flood of antisemitic commentary from the chatbot this week that included praise of Adolf Hitler.
“We are aware of recent posts made by Grok and are actively working to remove the inappropriate posts,” the Grok account posted on X early Wednesday, without being more specific.
Some experts have tied Grok’s behavior to Musk’s deliberate efforts to mold Grok as an alternative to chatbots he considers too “woke,” such as OpenAI’s ChatGPT and Google’s Gemini. In late June, he invited X users to help train the chatbot on their commentary in a way that invited a flood of racist responses and conspiracy theories.
“Please reply to this post with divisive facts for @Grok training,” Musk said in the June 21 post. “By this I mean things that are politically incorrect, but nonetheless factually true.”
A similar instruction was later baked into Grok’s “prompts” that instruct it on how to respond, which told the chatbot to “not shy away from making claims which are politically incorrect, as long as they are well substantiated.” That part of the instructions was later deleted.
“To me, this has all the fingerprints of Elon’s involvement,” said Talia Ringer, a professor of computer science at the University of Illinois Urbana-Champaign.
Yaccarino has not publicly commented on the latest hate speech controversy. She has, at times, ardently defended Musk’s approach, including in a lawsuit against liberal advocacy group Media Matters for America over a report that claimed leading advertisers’ posts on X were appearing alongside neo-Nazi and white nationalist content. The report led some advertisers to pause their activity on X.
A federal judge last year dismissed X’s lawsuit against another nonprofit, the Center for Countering Digital Hate, which has documented the increase in hate speech on the site since it was acquired by Musk.
X is also in an ongoing legal dispute with major advertisers — including CVS, Mars, Lego, Nestle, Shell and Tyson Foods — over what it has alleged was a “massive advertiser boycott” that deprived the company of billions of dollars in revenue and violated antitrust laws.
Enberg said that, “to a degree, Yaccarino accomplished what she was hired to do.” Emarketer expects X’s ad business to return to growth in 2025 after more than halving between 2022 and 2023 following Musk’s takeover.
But, she added, “the reasons for X’s ad recovery are complicated, and Yaccarino was unable to restore the platform’s reputation among advertisers.”
Analysts have said that some advertisers may have returned to X to avoid alienating Trump supporters during the height of Musk’s affiliation with the president and his base. Legal threats may have also played a part — whether from X or from the Federal Trade Commission, which is investigating Media Matters over its reporting that hateful content has increased on X since Musk took over, resulting in an advertiser exodus. Media Matters has in turn sued the FTC, claiming it seeks to punish protected speech.
PSG inflict humiliating defeat on Real Madrid to reach Club World Cup final
- Ruiz and Ousmane Dembele scored inside the opening nine minutes to stun Real and silence the majority of the 77,542 crowd
EAST RUTHERFORD, United States: Fabian Ruiz scored twice as European champions Paris Saint-Germain turned on the style in their reunion with Kylian Mbappe on Wednesday, thrashing Real Madrid 4-0 in the semifinals of the Club World Cup to set up a final showdown with Chelsea.
Ruiz and Ousmane Dembele scored inside the opening nine minutes to stun Real and silence the majority of the 77,542 crowd who were wearing white at the MetLife Stadium outside New York.
The Spanish midfielder added another before half-time and Goncalo Ramos got a late fourth as Luis Enrique’s side moved one game away from glory at FIFA’s new tournament.
Victory against Chelsea on Sunday would complete a campaign of unparalleled success for the Parisians, who won the French title and then the first UEFA Champions League in their history in May.
After blowing away Inter Milan 5-0, the biggest victory in European Cup final history, PSG began their Club World Cup bid by putting four past Atletico Madrid and the ease with which they disposed of Real here was striking.
PSG’s fluidity contrasted starkly with Madrid, who are a work in progress under new coach Xabi Alonso. Meanwhile Mbappe struggled to make any impact on his first start at the tournament and in his first game against PSG since leaving the French club a year ago.
The France captain was hoping for a different outcome against the team for whom he scored a club record 256 goals, and the defeat is a real blow to Real as they hoped to win the first 32-team Club World Cup to add to their record tally of 15 European Cups.
But PSG have improved without Mbappe and are now such a well-oiled machine that they appear unstoppable — it would be a big surprise if they failed to beat Chelsea.
Luis Enrique was without imposing center-back Willian Pacho due to suspension following his sending-off against Bayern Munich in the quarter-finals, but that did not matter.
Lucas Beraldo slotted into the defense with ease, and the rest of PSG’s first-choice line-up was there.
Real were missing central defender Dean Huijsen through suspension, while the absence of Trent Alexander-Arnold was an added blow.
The return to the starting XI of Mbappe, who missed the entire group stage through illness, did not prevent young striker Gonzalo Garcia from keeping his place.
But the Spanish giants’ front line, completed by Vinicius Junior, made no real impact, such was the extent of PSG’s domination.
Real goalkeeper Thibaut Courtois made two superb saves inside the opening five minutes, the first to tip away a Ruiz shot, and the second to deny Nuno Mendes from point-blank range.
Yet Courtois could not prevent Paris from scoring in the sixth minute, as Dembele pounced on slack defending by Raul Asencio. The Real ‘keeper saved at the forward’s feet but Ruiz converted the loose ball.
Three minutes later and the contest was effectively over when Antonio Rudiger failed to control a simple pass from Jude Bellingham, allowing Dembele to run through before finishing low into the corner.
Like his friend Mbappe, Dembele was starting for the first time at the competition having been injured. That was a 34th club goal since August for a player who is a serious candidate for the Ballon d’Or.
It was turning into a humiliating afternoon for Real as PSG got their third midway through the first half.
A deflected shot by Mbappe was easily held by Gianluigi Donnarumma, and no Madrid player touched the ball again before they were picking it out of their own net a minute later.
Dembele released Achraf Hakimi on the right and he squared for Ruiz, the Spain star taking a touch to hold off Fede Valverde before finishing.
Khvicha Kvaratskhelia could have got a fourth before the interval, while Desire Doue had a goal disallowed for offside early in the second half.
But Real were not coming back, and Alonso opted to take off Bellingham and Vinicius just after the hour mark in a clear sign of surrender.
PSG then got their fourth after 87 minutes when Ramos controlled a pass from fellow substitute Bradley Barcola, turned and fired in.
UN mission in Libya urges immediate de-escalation in Tripoli
- Call follows reports of continued military buildup in and around the capital city
- Libya has had little stability since a 2011 NATO-backed uprising ousted longtime ruler Muammar Qaddafi
TRIPOLI: The UN Mission in Libya urged on Wednesday all Libyan parties to avoid actions or political rhetoric that could trigger escalation or renewed clashes in Tripoli, following reports of continued military buildup in and around the city.
Libyan Prime Minister Abdulhamid Al-Dbeibah ordered in May the dismantling of what he called irregular armed groups, which was followed by Tripoli’s fiercest clashes in years between two armed groups that killed at least eight civilians.
“The Mission continues its efforts to help de-escalate the situation and calls on all parties to engage in good faith toward this end ... Forces recently deployed in Tripoli must withdraw without delay,” the UN Mission said on social media.
A Tripoli-based Government of National Unity under Al-Dbeibah was installed through a UN-backed process in 2021 but the Benghazi-based House of Representatives no longer recognizes its legitimacy.
Libya has had little stability since a 2011 NATO-backed uprising ousted longtime autocrat Muammar Qaddafi. The country split in 2014 between rival eastern and western factions, though an outbreak of major warfare paused with a truce in 2020.
While eastern Libya has been dominated for a decade by commander Khalifa Haftar and his Libyan National Army, control in Tripoli and western Libya has been splintered among numerous armed factions.
US resumes sending some weapons to Ukraine after Pentagon pause
- Weapons now moving into Ukraine include 155 mm munitions and precision-guided rockets known as GMLRS
- Trump has become increasingly frustrated with Russian President Vladimir Putin, saying he wasn’t happy with him
WASHINGTON: The Trump administration has resumed sending some weapons to Ukraine, a week after the Pentagon had directed that some deliveries be paused, US officials said Wednesday.
The weapons heading into Ukraine include 155 mm munitions and precision-guided rockets known as GMLRS, two officials told The Associated Press on the condition of anonymity to provide details that had not been announced publicly. It’s unclear exactly when the weapons started moving.
Defense Secretary Pete Hegseth directed the pause on some shipments last week to allow the Pentagon to assess its weapons stockpiles, in a move that caught the White House by surprise.
Affected was Patriot missiles, the precision-guided GMLRS, Hellfire missiles, Howitzer rounds and more, taking not only Ukrainian officials and other allies by surprise but also US lawmakers and other parts of the Trump administration, including the State Department.
It was not clear if a pause on Patriot missiles would hold. The $4 million munition is in high demand and was key to defending a major US air base in Qatar last month as Iran launched a ballistic missile attack in response to the US targeting its nuclear facilities.
President Donald Trump announced Monday that the US would continue to deliver defensive weapons to Ukraine. He has sidestepped questions about who ordered the pause in exchanges with reporters this week.
“I would know if a decision is made. I will know,” Trump said Wednesday. “I will be the first to know. In fact, most likely I’d give the order, but I haven’t done that yet.”
Asked a day earlier who ordered the pause, he said, “I don’t know. Why don’t you tell me?”
Trump has privately expressed frustration with Pentagon officials for announcing the pause — a move that he felt wasn’t properly coordinated with the White House, according to three people familiar with the matter.
The Pentagon has denied that Hegseth acted without consulting the president, saying, “Secretary Hegseth provided a framework for the President to evaluate military aid shipments and assess existing stockpiles. This effort was coordinated across government.”
It comes as Russia has fired escalating air attacks on Ukraine, with a barrage that the largest number of drones fired in a single night in the three-year-old war, Ukrainian officials said Wednesday.
Trump has become increasingly frustrated with Russian President Vladimir Putin, saying he wasn’t happy with him.
“Putin is not, he’s not treating human beings right,” Trump said during a Cabinet meeting Tuesday, explaining the pause’s reversal. “It’s killing too many people. So we’re sending some defensive weapons to Ukraine, and I’ve approved that.”
The 155 mm artillery rounds have become some of the most used munitions of the war. Each round is about 2 feet (60 centimeters) long, weighs about 100 pounds (45 kilograms) and is 155 mm, or 6.1 inches, in diameter. They are used in Howitzer systems, which are towed large guns identified by the range of the angle of fire that their barrels can be set to.
Howitzer fires can strike targets up to 15 to 20 miles (24 to 32 kilometers) away, depending on what type of round and firing system is used, which makes them highly valued by ground forces to take out enemy targets from a protected distance.
The US has provided more than 3 million 155 mm rounds to Ukraine since Russia invaded its neighbor in February 2022. It has sent more than $67 billion in overall weapons and military assistance to Ukraine in that period.
